Episode 13: How to Buy a House: A Definitive Guide to Purchasing Real Estate, According to Top Agents
It’s one of the most exciting adulting moves you’ll ever make, but buying a house for the first time can be wildly intimidating. On this episode of The Everygirl Podcast, Alaina sits down with Compass real estate agents Emily Haddad and Giavanna Silva to debunk some of the most common misconceptions about first-time homebuying. Emily and Gia walk Alaina step-by-step through the process of preparing to buy a house, getting finances in order, talking to real estate agents, and so much more. Whether you’re in the market for your first place, or you just want to get a head start on knowing the ins and outs of real estate, this is the episode for you!
SHOW NOTES:
On this how-to episode of The Everygirl Podcast, Alaina interviews Compass real estate agents Emily Haddad and Giavanna Silva all about the process of buying a home for the very first time. The episode begins with a discussion of the importance of buying property, and Emily and Gia shed some light on the benefits of purchasing a home instead of continuing to rent, breaking down what is compelling about each option. Gia discusses the upsides to taking out a Home Equity Line of Credit (HELOC) and building equity through home buying. From there, the three dive right in to how to buy a home 101: interviewing real estate agents, talking to lenders and getting pre-approved to purchase a home, finding a lender that will give you a good rate, and more. Emily and Gia explain what a Federal Housing Administration (FHA) loan is, and how this might be helpful for first-time home buyers who might not have a lot of cash to put down upfront on a property, or who might not have a high credit score. You’ll hear them cover what kind of lenders instill confidence in sellers and are most helpful in closing on a home, and how mortgage brokers can be helpful in evaluating your financial situation to get you a the best possible loan option. Emily, Gia, and Alaina also explain some of the hidden costs behind home buying, some as home inspections and other due-diligence processes that are important to cover before purchasing a property. The episode closes with Emily and Gia running through a few essential things to consider about your personal life and financial situation before buying a home in order to set yourself up for success.
Must-Listen Moments:
[8:03] The benefits of buying a home instead of continually renting
[10:19] What is a HELOC, and how can you build equity by buying property?
[18:06] Tips for interviewing real estate agents, lenders, and mortgage brokers
[46:57] The hidden costs of home buying
[1:01:35] Essential things to keep in mind as you begin your home-buying process
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