How to Love Your Home (And Afford It, Too)

Рет қаралды 41,103

Күн бұрын

Buying a house is the biggest financial investment most people will ever make, but your home is a big deal for other reasons too. It’s the place where you lay your head down to sleep at night, where you prepare your meals, and where you raise your kids. It’s where your life happens! So, I don’t want this to be something stressful in your life. I want it to be a place of joy.
In this episode, you’ll learn how to:
• make the most of the space and furniture you have
• decide when the time is right to buy a new home
• avoid red flags during the home-buying process
• pay off your mortgage early
If you’re buying or selling a home in the near future, connect with an ELP today. www.rachelcruze.com/elp/real-...
And get the best mortgage or refi for you and your family with my friends at Churchill Mortgage. www.daveramsey.com/recommends...
Get tickets to see Rachel at her Money & Marriage event here! www.daveramsey.com/events?typ...
Be prepared for your future with term life insurance from Zander here. www.zanderins.com/term-life-i...
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Sponsors pay the producer of this show, The Lampo Group, LLC, advertising fees for mentioning their services or products during programing. Advertising fees are not based upon or otherwise tied to any product sale or business transacted between any consumer or sponsor. The following sponsors have paid for the programing you are viewing:
- Zander Insurance
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Пікірлер: 60

@freedominabudget 5 жыл бұрын

This was so helpful! My husband and I are saving $100k for our down payment, closing costs and upgrades ... we will be buying at the beginning of 2020! So excited and this really motivated us!

@jamiemowrey7475 5 жыл бұрын

I dislike the phrases "starter home" and "forever home". My house is what many people would consider a "starter home". That phrase and thinking leads to discontentment. We've been in our "starter home" for 13 years and have no intention on moving. That being said, the phrase "forever home" leads people to hold an object too closely and get overly attached. Life happens. Change happens. Why can't we just call our home, home?

@SirenaSpades 5 жыл бұрын

Totally agree. I only recently heard the phrase "forever home" when someone I didn't know well asked if I was in my forever home. I kind of just looked at them and considered and wondered what that even meant, at the time. I'm middle aged, and I'd have to count, but I think I'm in my 6th house? Strange phrase, strange way of thinking. I like to trade my sweat equity, when market allows, and invest it. I'd hardly call any house a forever home. Especially now that I'm on the Ramsey program. They are all just houses.

@PhantomPirate1776 5 жыл бұрын

I wish I could love this comment, instead of just liking it! I agree 100%!

@diannhazelton9808 5 жыл бұрын

great point

@Tam712 5 жыл бұрын

I needed this reminder! I think the Lord is reminding me to hold my horses.

@MsSusieStone 5 жыл бұрын

People who judge you by your furniture are not friends. And the opinion of other people should not bother you. Friends should support you not give you a bad feeling for not having the latest and coolest stuff. So true Rachel!

@ladyjoyarcher1187 Ай бұрын

The last 10mins were the beneficial part of this video to me. Since i work 10hr medical shifts, its helpful for me to see short, concise videos with the take away highlighted & to the point so i can learn on my lunch break or 1 day off. 🤗

@mindful30s98 5 жыл бұрын

Major house fever right now! We have about a year left of baby step 2. The idea of THEN saving and emergency fund THEN saving a down payment feels impossible. Thanks for the encouragement.

@sarahs.9292 5 жыл бұрын

My kitchen table from my first apt in 2005 is in my home still in 2019. It's falling apart and old, but paying off debt.

@MsSusieStone 5 жыл бұрын

Sarah S. Priorities are so important! I don‘t replace stuff unless it’s broken 😄 paying off debt and being debt-free soon gives me a way better feeling than having new stuff.

@menotme6523 5 жыл бұрын

That is so me right now! Moved into a much bigger home than where we were and it is soo expensive to furnish a home BUT we are doing it in baby steps... cash flowing everything. Just ordered this coffee table that I had been eyeing for months and today it is on sale!!

@chelseahill6552 5 жыл бұрын

Perfect timing, Rachel! Just dropped off my fifty percent down payment for my first home!

@RachelCruze 5 жыл бұрын

That's amazing, Chelsea!! - The RC Team

@lovelyek8187 4 жыл бұрын

🙄

@HesedAcres 5 жыл бұрын

Thank you for addressing the embarrassment and unrealistic expectations from guests we put on ourselves when buying a new home. That feeling is so normal and so unnecessary! Wait and acquire what you can afford as you can afford it for no regrets.

@ryleighsmommyrn 5 жыл бұрын

I love your show. Honestly, it’s so relevant and you present everything in such a way that is down to earth and people really understand. And you must be a mind reader on these topics you’ve been choosing because so far, they’ve been exactly what I’ve been thinking/needing to hear.❤️

@Cailmekay 5 жыл бұрын

I truly feel like this video was God sent for me. I ended up finding this home I LOVE online but it’s double the price of our home now. And the couple you talked to was definitely my husband and I except I was more like the guy looking at properties. My husband is more content where we are. We still need to do all the renovations at our home before we could sale it and everything so it would be a rush for us to purchase another home. We simply aren’t ready and still owe to much. It spoke right to me though about the size of our home and the things inside it like the carpet 😂 but we can definitely do with what we have awhile longer. Even though it’s a starter home we can try to pay it off and make it into a 15 year mortgage after we pay our other debts off. Thankyou so much for this video. If we would’ve signed for this home we would have been BROKER! This saved us 🙌🏻

@eimearoflaherty9242 5 жыл бұрын

I’m in my first house for the past 2 years. I managed to replace the kitchen and bathroom. Still have disgusting old carpets, 2nd hand couch and old bedroom furniture that came with the house. It’s so tempting to get a home improvement loan but I recently became debt free. Doing it the hard way, will be so much more satisfying in the long term. Hoping to have it finished by Christmas 🤞

@maryblack2805 5 жыл бұрын

I love this show! Rachel has such great ideas and inspires me so much to save and to not worry what everyone thinks. Thanks Mary

@spicyingrid1 5 жыл бұрын

Am excited to hear this. Been waiting for days.

@Retiredmco 5 жыл бұрын

Rachel I know this is going to be a great show! 🤗🤗🤗🤗

@minimalmillionairemom 5 жыл бұрын

Wow...love this couple’s story. Great job paying off so much in a relatively short amount of time. Your options in the future will be amazing!

@oregonhomeswithmariahcrawford 3 жыл бұрын

Love this video Rachel!🙌🏼

@MrsThollo 5 жыл бұрын

So excited for this!

@roadster12522 5 жыл бұрын

Yay! Restoration Hardware mentioned! Humbly began in Eureka, California! 😍

@mollydecker6631 5 жыл бұрын

What worries me about refinancing for a 15 year and a higher payment ... what if you lose a job? What if you take a paycut? You can always pay more when you’re able to but having that lesser payment option makes me feel better for the “what if’s” just in case ...

@laurac.3888 5 жыл бұрын

I think I imagine our first home being our forever home because we are 35 and have 4 kids.

@michelarosier1918 5 жыл бұрын

Rachel, thanks for sharing information about the house. I'm taking notes and be prepared for a down payment. I'm going to be a 1st home buy, when I'm ready.🤗👍🏽🎉🎉🎉🎉🎉🎉

@cindyhampson5859 5 жыл бұрын

I really like how Alex emphasized to expect your ELP or anyone involved in the purchase process to listen and answer questions until you feel satisfied with the answers.

@Jon-Jon309 5 жыл бұрын

Cant wait! :)

@inthevanwithalexa 5 жыл бұрын

I live in my car I love it I just updated my kitchen and its beautiful and no mortgage Iam saving money so that I can buy land an acre at least and put a tiny home or a van so excited

@aliroman1176 5 жыл бұрын

Will you do a show about remodeling a home? What does it take to save to reach that goal? I inherited an old home, that needs lots of repairs. Please, help. I feel overwhelemed and lost. I began 10 years ago by reapiring the roof, painting outside, and changing all the electrical. That was finished 5 years ago, and it took all my savings to cover those tasks that needed to be done. Now I'm a little recovered. However, I need to fix the rooms, paint, and may be remodel the kitchen, and he bathrooms. This will be my forever home, it's paid off, but I do not like the inside layout of it. 😱😱😱

@reba2876 5 жыл бұрын

ALI ROMAN it always cost more than you think so since your mortgage is paid off, you should be able to save large amounts for projects. We remodeled our home and it’s still in progress but we have been saving up money while we plan out the details of the project. Once we have the money, we do the project and keep doing that over and over. Also, work with a reliable contractor or whomever you hire to help. Even helps to get a few estimates from different people/company. Make sure they can give you a receipt for services so it’s not “off the books”

@aliroman1176 5 жыл бұрын

@@reba2876 Thank you very much for the avise. 😀

@KS-gh7oy 5 жыл бұрын

Your friends didn’t care about your empty house. Lady, you are Dave’s daughter, they knew you were taking your time 👍🏽 Smart

@jhrielly 5 жыл бұрын

Hi Rachel, I am also a huge proponent of the 15 year mortgage. How do you advise your viewers/listeners to pay attention to the fees associated with refinancing? I have decided not to refi in the past because the payoff was too high.

@notme7090 5 жыл бұрын

Ok, my house is one DR himself would advise against. It's a double wide manufactured home on foundation/land. We've been here 15 years and love it. Its needing some work but I don't plan on moving anytime soon.

@robertbeckybarillari7444 5 жыл бұрын

Hi Rachel I love listening to you and have been trying to implent your teachings in my life. I live in Ontario, Canada where homes start at $600,000 and up... Rent costs an average of $2,500 per month.... What are your suggestions as the advice given seems pretty unattainable??...

@lindenpeters2601 4 жыл бұрын

This is pretty unattainable advice in places with a high cost of living. Maybe get a 30-year and budget to pay extra on the principle each month? Then it would still get paid off sooner.

@diannhazelton9808 5 жыл бұрын

I just subscribed. we are doing things a little weird. We are below poverty way below. We are shunt have extra money to pay on debt much. But been paying on my house for 10 years now. My husband and i agreed to use our tax refund to pay our house off. Then use the money we would be paying for a house payment on starting the baby steps. But our house is no exaggeration identical horrible problems like the money pit home.

@Kelsey_AussieMom 5 жыл бұрын

Do you have the goal tracker available Rachel and/or Rachel's team?

@Skittleboys 5 жыл бұрын

Skittle Boys is in the comments! This was great!

@lianmarkham4226 5 жыл бұрын

Hi Rachel. I've been watching your channel for a few months now after checking out the Dave Ramsey channel. My husband and I will soon be starting the Baby Steps. We are in South Africa, how much would the Emergency Fund have to be in Rands? Should we save R1000 or equivalent to 1000 dollars which is actually R14 000.

@BonnieHalfElven 5 жыл бұрын

I was talking to a smart vester pro who said that some people buy these huge houses they can't afford to furnish, so when they have a party, they rent furniture!

@rebeccasal7128 5 жыл бұрын

rachel, where is the down payment saver form that you had mentioned?

@RachelCruze 5 жыл бұрын

Here you go, Rebecca! - The RC Team bit.ly/2Ejh4w9

@brendanlucero8585 5 жыл бұрын

Is it better to live very modestly while saving for a home and buy it outright or finance one like normal and pay it off over time?

@RachelCruze 5 жыл бұрын

The more you can save to put towards purchasing a home, the better! A down payment of at least 20% will help avoid PMI being added to your monthly mortgage payment. We also recommend getting a 15-year mortgage and being gazelle intense on paying it off during Baby Step 6 (after you’ve paid off your consumer debt (Baby Step 2) and get an emergency fund of 3-6 months in expenses in place (Baby Step 3), and you’ve started saving 15% for retirement (Baby Step 4) and funding children’s college funds (Baby Step 5). 😊 - The RC Team

@llyg4848 5 жыл бұрын

I wish I had heard from the realtor more

@bdharris3075 5 жыл бұрын

Is your podcast on Google Play Music?

@RachelCruze 5 жыл бұрын

Yes it is, Brandon! t.co/Fbl7KzhuaD - The RC Team

@devodabearGHW 5 жыл бұрын

No more than 25% of your take home pay is not possible unless I’m moving back to the hood where safety and other things are issues. I have a family now so In my area 25% isn’t possible

@dalebraithwaite6890 4 жыл бұрын

Up your income

@maddiewinslade1144 5 жыл бұрын

Can you even think about saving for a home when you and your significant other only make about 75,000 a year living in Minnesota? Am I stuck renting for the rest of my life?

@theanachronisticlife8574 5 жыл бұрын

They have houses under $175,000 there, get debt free and save up 20% down and you’ll be fine.

@BringBackMyYesterdaybyDee 5 жыл бұрын

Very helpful, but the commercial and other business plugs were annoying.

@lindenpeters2601 4 жыл бұрын

Why not just rent until you can afford your forever home? Why move so much, just for the sake of moving, and destabilize your kids' childhood? Also keep in mind that most people cannot afford their "forever home" until their kids are half-grown already.

@INOOT-INeedOneOfThose 5 жыл бұрын

A majority of your audience is Target/Value City Furniture/Bob’s Discount Furniture/At Home people, not Pottery Barn/Restoration Hardware/Ballard Designs people. Cater to all demographics please. No wonder people are loving other people’s lives and not theirs.