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Full Transcription Below:
One common term people hear about.
And even though it’s kind of
a cliche, I guess, would be
the word dream house, right.
Everyone wants to live in a dream house.
Um, when I work with buyers, sometimes
they’re coming from, uh, you know, a two
bedroom apartment and their first home.
They want it to be four
bedrooms, two stories.
Fully remodeled kitchen, you know,
a big backyard, maybe even close to
a park, you know, I mean, it’s, I
don’t want to say as laughable, but
what I’m saying is we have to think
in terms of a stepping stone, right?
So if you’ve been renting for the
last 12 years, um, and you want to
go from a two bedroom, one bath to a
four bedroom, three bath, you know,
you’re, you’re biting off a lot.
And so I kind of recommend to my buyers,
you know, if you’re, if you’re renting
a two bedroom, why not look for a two
bedroom or three bedroom home, right.
You’re not going to live there
forever, but it’s just going to make
that transition a little bit easier.
And so, um, another part of that is.
I see people that kind of get, uh,
I don’t want to say complacent, but
maybe they are living in the same
home for 15 years and, you know, they
never consider doing a move up by.
And so I believe every neighborhood has.
Kind of like its own little, um,
how you say it’s, it’s almost
like its own little market, right?
Each neighborhood, depending
on where it’s located.
It has a, um, a bottom,
a middle and a top.
So if you’ve been there for a long
time and you’re reaching the top
of your market, you know, you’ve
improved, you’ve done maybe solar
panels, you’ve done new windows.
I would consider, you know, making that
transition to selling that home or renting
it and then finding another neighborhood.
That’s going to have a larger.
High end, you know, so that way you can
kind of start your equity buildup all over
again, because what happens is with some
people they hit their equity, you know,
there’s a top of the market in their area.
And then all they’re going to do
is kind of like flip slide back
down, and then, you know, re
kind of gree gain that equity.
So I just think it’s a good
idea to, um, consider moving to
different neighborhoods that have.
Potential to build more equity buildup,
um, how to get ready for a move up.
If you’re moving from renting
to buying within the same
video, pairing for a move up.
So one thing you want to do with
your house is you always want
to declutter your home kinda.
Um, I recommend, you know, doing
yard sales Goodwill just of get
rid of as much stuff as you can.
And then the stuff that you’re
not necessarily needing right now,
maybe put into a storage or a pod.
So that way, when you’re showing
your home while you’re still.
There it’s going to look very,
uh, attractive to the new buyers.
And, um, you know, if you can
start shopping and locate your
replacement property, so that way
it can be a smooth transition.
You know, some sellers they want
to wait until their house goes into
contract before they start the process
of looking for the replacement.
And especially right now in a hot
market, you know, you want to have your
finger on the pulse of what’s going on.
And so you want to do it simultaneously.
Basically you have your
house in the market.
Start looking for your replacement.
And it’s very common as well for sellers
to already have their replacement
in mind at the, at the start.
And what about if we’re effort
going from renting to purchasing,
uh, going from renting to buying?
So, one thing that I give a tip to my
buyers is don’t give notice, um, too soon.
So there’s always, there
can be hiccups along the way
with appraisal or inspection.
Anything, any little thing can kind
of go wrong, where you have to do
an extension on buying your home.
And so the last thing you want is that
pressure that you already gave notice
to your landlord, and they already found
a replacement and they want you out.
So you don’t want to feel that pressure
that you have to move out of your house.
And into the new one in two days, you
know, you want to give yourself some time.
So typically when you buy a home,
you’re not going to have a payment
for about 45 to 60 days out.
And so, you know, you don’t have to
worry about making a house payment and,
um, and a rent payment at the same time.
And another thing to
consider is when you do.
You’re going to get your deposit
back and hopefully have a little
bit of a cushion there questions.
So, you know, after hearing some
of this, you might, you know, have
brought something to mind that, uh,
you know, you’re curious about, or
you want more information on, so
just give me a quick message texts.
And I’ll be happy to answer any
more questions that you might have.
Thanks for watching my video to learn
more tips and tricks, how to save
money or make money in any real estate
market please like, and subscribe.
Um, my goal is to keep giving you
valuable content that you can use.
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