First Time Home Buyer in 2022: DON’T WAIT
In this video I discuss why a first-time home buyer in 2022 should not wait for a “market crash” to buy their first home.
What does it take to purchase a home? You need an income, a middle credit score and cash for down payment and closing costs.
Why you should not wait for a “Market Crash” to buy your first home:
- Competition due to the pandemic. Having to compete with cash buyers and investors helped to cause home prices to go up.
- Paying rent. If you’re paying rent on your home, you’re likely paying your landlords mortgage. you might as well pay your own.
- Home prices coming down. Since early 2022 the Fed has raised mortgage rates, which has caused home prices to go down. Eventually home prices will come back up again, allowing new home owners to take advantage of inflation with their equity.
- Rents continue to rise. In 10 to 20 years, landlords are going to continue to raise rents. Do not get caught up paying for their wealth. Buy your own home.
There are down payment assistance programs for first-time home buyers.
Don’t be afraid to purchase a home as a first-time home buyer. It’s a very simple process.
- Hire a real estate professional
- Hire a mortgage lender
- Start saving money in the bank
Do not put your cash in the mattress or safe, but put it in the bank
🏡 If you’re looking to live in Temecula and would like to know more about the Temecula real estate market, please feel free to contact me personally for any questions:
Toma Johnson, Realtor
Drive Real Estate
CA DRE 02056291
📱 Call/Text: (951) 356-9586
📧 Email: toma@tomajohnsonrealtor.com
Search for Inland Valley Homes For Sale:
https://homesbytoma.com
About Me:
https://tomajohnsonrealtor.com
Here is my other video about Temecula, California Homes:
📹 Live In Temecula | Harveston Home Tour:
https://www.youtube.com/watch?v=31Al0aiel-s&t=54s
Here are some other videos for the First-time Home Buyer:
📹 Biden First-Time Home Buyer Programs:
https://www.youtube.com/watch?v=RrPbH7yX67g&t=0s
📹 17% Down Payment Assistance – New for 2022!:
https://www.youtube.com/watch?v=woGIof-yRfM&t=0s
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