The True Cost of Buying a Home (It’s More Than You Think)

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Title	:	The True Cost of Buying a Home (It’s More Than You Think)
Lasting	:	27.32
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Views	:	393 rb

The million dollar house caller, he could rent out the entire basement if it's finished/separate entrance (I assume it would be) and/or rent out a room or two to supplement income and throw that into their 401k for 3 years or soreduce their property tax hit? I rent a house but I rent a 5 bedroom and sublease 2 or 3 of the rooms at a time For 5 years I paid 0-8000 in rent a month and saved the rest into an emergency fund or tfsathey could do it, but they can do it more efficiently
Comment from : @joyfulk9services

If you live in America, you are not buying a house
Comment from : @JB10008d

Like we just sw with the recent hurricanes, this is a no especially a property in Pensacola
Comment from : @GrahfisLacan

We absolutely need to think outside the matrix As long as we are tired and distracted by debt, keeping up with the Joneses, in turn not parenting our kids because we're constantly trying to stay above water, they win and society lose
Comment from : @bevye

47! You should be downsizing… so stupid…
Comment from : @ashleybaugher8021

Average maintenance is 3 per year, though it is lumpy (roof one year, painting a different year, etc) What is the insurance on this house? Fla insurance is supposed to be very high
Comment from : @rational9229

Is living on the water so Wonderful when your house is full of the ocean?
Comment from : @shobull8695

My thing is a million dollar home isn't what it used to be Your getting a home that 4 years ago was probably less like $700k
Comment from : @dontezcristol3017

Why a million dollar house when they can probably find a commercial property and lease it as a business?
Comment from : @Literallyandfiguratively

But the more worth your house is isnt it harder to sell it at the end because not many people can afford it?
Comment from : @Tanja95-w8l

In reference to the second caller, would paying it off in 5 instead of 2-3 years be so terrible?! I get the aggressive approach but still
Comment from : @lordsteez2064

It's really disheartening hearing all these people calling in and they have these huge, massive salaries (thus huge, massive take home pay) We have been trying to increase our take home for five years doing everything from working more hours to requesting raises to applying for better paying jobs to starting our own business, but our monthly take home is STILL only $36k We cannot save up for anything How are these people getting these extremely high paying jobs?!?!?
Comment from : @meganhornberger9386

John is right to feel uneasy about the first caller They're burning all their current home's equity and the entirety of his $600k investment which took many years to build up for something that is just a want They already have a house They don't need another and they certainly don't need to buy a $1million house to live by the water There are many places by the water that don't cost that much It sounds like the wife is pushing him to do this
Comment from : @NadyaPena-01

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money I started investing with $150k and in the first 2 months, my portfolio was reading $274,800 Crazy right!, I decided to reinvest my profit and get more interesting For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family
Comment from : @MiaJohnson-l4k

rule is buy a house made in stone or concrete
Comment from : @waterboi4846

House won’t be worth much when it’s swallowed by the ocean in 30 years 😂
Comment from : @awolf81

Buying a house and counting on veterans benefits of Florida Doesn’t sound like a thing I would be comfortable doing
Comment from : @Papawforreal

What is the second guy’s profession?
Comment from : @iuliatvigun

Why the hell would someone liquidate all of their assets to not have any mortgage? That means literally no safety net or retirement This is the problem with Dave's 100 anti debt philosophy Real estate is illiquid, it's a great supplemental aspect of net worth but only if you sell it or use it as collateral
Comment from : @benlaine400

This call proves you dont have to be smart to have money
Comment from : @geezusfreek1

I would take that money for the “dream home” and travel the world Wtf
Comment from : @Eleese__

This is a horrible idea Hes liquidating all of his assets to go into debt and theres a 0 chance he can maintain a 1M home on a 100k income Kudos for saving or inheriting whatever they got so far but this is ludicrous
Comment from : @aurasphere87

These peoples always think their income is going up Hell, u could lose your job tomorrow and have no income
Comment from : @josephbanks9897

This guy must don't listen to the news Peoples are leaving Florida everyday and losing their homes because they can't afford the taxes and insurance
Comment from : @josephbanks9897

Consider the caller do go forward to buy his $1 mill home Added up to the latest Florida property tax on the newly purchased home in 2024, HOA (with $1 mill, you WILL be charged for HOA), lawn /landscape/pool/tennis, hurricane/flood/fire insurances (if you can find one company willing to ensure your location) all that on a $110,000/annum salary (presumed after tax net amount) is simply not possible Unless, you do not eat, drink, drive, and no cellphone, cable lines Publix supermarket no longer offer reasonable pricing, and Costco is offer less amount with higher costs Since 2023, I no longer looking to buy a single family home in FL
Comment from : @NoteAndroid

If Mr Dave Ramsey chane the title to Now is the best time to my a house with zero money down you views will quadruple 😂
Comment from : @SFCaliofUSA

Question - what did you save the non retirement investment for?
Comment from : @marilynrybak9154

Rich people talking to other rich people What a joke Brett in Utah is a nurse making a quarter million dollars a year Should he buy a home?! The world's tiniest violin playing for this doufus
Comment from : @clintmoll6861

Why don’t you tell us about lawful money redemption?
Comment from : @lineira94

Currently making $170 daily with one closed debt of $6243 with Ally they gave me a settlement offer for 249750 with 9 payments of 277 per month Currently at a 631 score and looking to buy in Texas but I work in WA state I make sure I keep my utilization is 7-10 percent in total on 5 credit cards Whats your advice
Comment from : @Deedior539

$700k house actually costs $17m over a 30year mortgage at 5 interest It is compounding interest working against you
Comment from : @xpictos777

Sooooo I'll never own a home great to know Of course I can't pay for rent so Work 55 hours a week between work and a side hustle but it just doesn't matter anymore
Comment from : @ChadDsWorld

These guys just are a bunch of alarmists If we all lived in fear we would just fucking rent unless we're rich Sometimes you can take an educated risk
Comment from : @RedakaiCity

48 years old with 110k income 30 years working Already have 600k saved up? Wow math doesn’t add up
Comment from : @300zxster

Us "rushing" to buy a house in 2019 is the best decision we ever made
Comment from : @jaybrower7200

I started planting 401k/IRA mutual fund money trees in the 80sbrI couldn't buy a house in CA because prices outpaced my incomebrI'm 66, retired in 2020, and my money trees are producing average 3x pretax post-income on top of my ss and pension incomebrIf you can't buy a house you can plant money trees Sell some shares at market highs to build up cash for Bear markets Start buying back shares at Bear lows with excess cash
Comment from : @IGotsToKnow2

Ha ha ha, good luck going back to your wife and telling her, when she's been 'dreamin', Dave said, No!!!
Comment from : @peterdunnington6030

The lady at minute 25 has no idea what they are talking about I can hear it in her voice
Comment from : @katherinesmith235

‘Florida has some generous tax rates for disabled veterans’ brbrOh, are your wife and kids ALSO disabled veterans? What happens when they’re stuck with the taxes?
Comment from : @Muggins1046

I could have bought a larger house but bought smaller instead Perfectly happy with what i have No need for larger more to clean like my mom used to say Wise woman And i am working at actually getting rid od excess stuff
Comment from : @kathleenpayne564

The callers are upper class Americans They sure love the show program
Comment from : @codelessunlimited7701

I am very curious what kind of education and how much it cost for people to be making $260k/year
Comment from : @age_of_reason

10:00 I pity that fool 😂
Comment from : @age_of_reason

People are dumb You could offer a guy or gal a 1,000ft^2 house for $60k and they wouldn't take it because it's not big enough or doesn't show off their statusbrThe fact of the matter is peple are too worried about what others think Hilarious at this point
Comment from : @mikedowns2006

She got the husband to listen now arguing he’s listening to much haha
Comment from : @PANG_671

My first thought is hurricanes
Comment from : @RedFive03

Live within your means
Comment from : @distorbia20

My husband and I have done well Buying ugly houses in nice neighborhoods We’ve gotten 3 super cheap places to live because we were willing to clean out the houses and fixed them up It’s amazing what new paint, new flooring and a rack can make sad looking house look brand new 😊
Comment from : @Essentialoils4u-72

I do not think these two people need a million dollar home They cannot afford it Also, they cannot do basic math
Comment from : @lindapp1337

I say no
Comment from : @IONJC

How the hell do you save 100k in 3 years on a 110k salary? I suppose they're not making any house payments
Comment from : @hkiajtaqks5253

100k income BEFORE TAXES trying to take on a 1M property; is INSAAAAAANE!
Comment from : @RelentlessDjango

The first caller 🤦🏽‍♀️ We are moving to Florida also after my husband retires from the military I’m also a disabled veteran We have a good savings and investments but NO WAY are we looking at waterfront properties nor properties for that much money My husband wanted a waterfront property when we first started looking but I showed him INSURANCE rates for this We want a peaceful life after the military This caller’s plan sounds stressful!!!!
Comment from : @Chicacruiser

If you can't save up the money over time, you certainly can't pay the mortgage If you can afford the mortgage, you can afford to save up so you don't need it
Comment from : @peterrose5373

What did that dude who makes 260K say he does? 🤔
Comment from : @TheRenaissanceAmazon

your looking at least 20k in insurance alone
Comment from : @revrobbins693

I enjoy this show I wish Dave gave the other host with him more opportunity to voice their opinion to their guest callers I do understand it's the Dave Ramsey show, but what's the point of them being there??
Comment from : @roxannerobinsonshaw4864

His wife wants this not him
Comment from : @MainSpears

Property tax, insurance, repairs, paint, roof replacement, utilities, etc All are proportional to the value/size of the house
Comment from : @calebdoner

Sounds like a horrible idea
Comment from : @dailygrindtothetop6412

I worked in supply chain for 25 years How is he making 11k monthly? He must be an exec at a steamship line or something
Comment from : @eugenialarue3677

Jade is beautiful 😅
Comment from : @leebooker-b1y

Agree everything we do is in excess and we don’t give ourselves enough wiggle room/margins
Comment from : @MeMCardCollect313

I used your calculator and it said I needed to pay $19k a month for a 15 year mortgage on a $250k house putting $50k down Did I input something wrong ?
Comment from : @DN-ps4bn

Why would someone totally reset the clock on their retirement investments to buy a home?
Comment from : @bow-fihiphop-yv7gx

Whenever someone tells me they’re gonna move and live on the water My next question is well how much is the boat gonna cost you because because we all know that’s the next purchase
Comment from : @elicash315

If you almost have the cash to buy a home and thinking if you should take out a mortgage, this is something you can do brFirst figure out the Mortgage rate on your loan and the amount you are about to finance brNow look at your own investment track record and ask yourself this can your investment’s net ROI minus your own risk factor beat the Interest rate and by how many percent Why take the risk, if you can only generate 1-2 more than the interest rate
Comment from : @tritonh5683

Subbed!! Even though I don’t agree on everything he says But I can truly say, his way will help the majority If you are a driven and a savage person, his approach might be too mild for you
Comment from : @tritonh5683

Turning 600k in assets into a liability house is stupid
Comment from : @dnah02

These homeowners are all the same they CANT actually listen always cutting ramsey off Man your calling and admitting your lost but still can't just simply listen
Comment from : @TheWatergas

People just cant help themselves I watch this show like people lookie lou car crashes
Comment from : @scottfree7549

Wonder what Dave Ramsey’s advice is on the tax payers footing the bill for his past bankruptcy?
Comment from : @BPshooter

Hummm wait for that insurance alone !
Comment from : @Ewwwwwwnone

Hasn't there been a problem with getting home insurance in florida? I wonder how much insurance costs over there for a waterside house
Comment from : @alcha93

Florida waterfront Insurance?
Comment from : @yostevedotcom

I didn’t follow Dave’s house rules that means I have to sell it and go save up until I can do it Dave’s way right?
Comment from : @joevasconcelos3409

Thank you Dave My goal is to pay off my house in 5 years Im 2 years in and ahead of schedule by about 6 months Rice and beans sucks at the start but like you said I hope the end years will be awesome I'm 41 years old
Comment from : @jonathanwelke

I'm thinking that living on the water In FL is REALLY problematic brThe Hurricane Insurance ALONE IF you can even get it is basically OBSCENE Values are going to drop Bad I just sold my Florida property too risky
Comment from : @faithrada

Ignoring all the benefits of owning and exaggerating the costs What about the home making more in equity than your investments would over the next few years? How about no rent costs? How about your life quality?
Comment from : @gilfiazon2575

"Do you have expensive cars? 😂 Dave always going after the cars!"
Comment from : @beckylilly4749

if u get a mortgage you have to pay the monthly payment twice a month or you'll never get ahead
Comment from : @big123lak

The homeowners insurance on a $1,000,000 water front property in Florida plus a separate flood insurance that will be required is going to run in the thousands of dollars a month and once you put a claim in and they pay out on it they'll drop your policies Not to mention the mass exodus of insurance companies from Florida recently brbrIm with Dave on that first call Dont do it until you have alot more liquidity built up to cover your own self
Comment from : @Truckerdaddy