Find A Good Buy On Your First Home

June 29, 2023 By 0 Comments

Wondering if it’s possible to find a “good buy” in today’s market? On this week’s episode, we will discuss how to navigate today’s market without getting frustrated and giving up. Check out the full episode and if you have questions about how to get started with Homeowner Prep, be sure to reach out to us or drop your question in the comments.

What You’ll Learn from this Episode:

  • How to avoid frustration in the homebuying process
  • How to find a good real estate deal
  • Why you should buy a home before buying stocks
  • And much more!

Watch The Full Episode On Our YouTube Channel


00:00 Good Buy or Goodbye?
00:12 Intro
00:34 Welcome To The Homeowner Prep Podcast
01:14 Renters Are Facing A Triple Threat
01:40 What Happens If You Never Buy A Home?
01:57 Start With A Home or Start With Stocks?
02:40 Why Are People Saying “Goodbye” To Real Estate?
03:12 Your Location Dictates Affordability
03:49 Can You Get By With A Smaller Home?
04:09 Talk To People About Your Plans
04:49 Put A Game Plan Together 
05:12 Getting Started With Homeowner Prep
05:38 Connect With Us On Social Media
06:15 Outro

“Renters who are looking to become homeowners right now, are facing a triple threat!”

Eric Hellon

Full Episode Transcript:

No matter the market conditions, people are nervous about buying their first home. So on today’s episode, we’re gonna talk about how to find a “good buy” versus saying “goodbye”.

Welcome to The Homeowner Prep Podcast, where every week we educate and encourage aspiring homeowners to help them buy their first home faster. If you aspire to own a home, you’re in the right place, so enjoy. Do us a favor and leave a review, a rating, and be sure to subscribe. Now, let’s get to this week’s episode

Hello and welcome to The Homeowner Prep Podcast. I’m your host Eric Hellon, and on today’s episode we’re gonna be talking about some of the things that are driving people away from the market, having them say “goodbye” to home ownership instead of really trying to find a good buy.

Now, I’m not ignorant to know what’s going on in the market on a national level. I’m in California and we’ve seen home prices go up sky high over the last couple years, but even nationally home prices, the median home prices are up over $100,000 over the last three years.

Now, if you’re already a homeowner, you’re like, “great news” but if you’re not this is horrible news. In fact, renters who are looking to become homeowners right now are facing a triple threat. We have higher prices, higher interest rates, and it’s even harder to save money due to our economic changes and buying things like groceries.

So that’s the triple threat that renters are up against in order to buy their first home. But should it be the reason why they’re saying goodbye to owning real estate in general?

The first thing we gotta talk about is what happens if you never buy a home? Well, if you continue to rent for the rest of your life, you’re missing out on one of the biggest assets and one of the fastest appreciating assets over time and in the history of investing.

Now, I know a lot of folks who will combat stocks versus real estate, but my opinion is always to buy the house and then start investing in the stock market and things of that nature that you really want to get into, because buying that house means that you’re gonna have a roof over your head. If the stock market crashes and you have a house, that you own, you’re in a much better position than if the stock market crashes and you’re paying rent and your rent is determined by your landlord.

If your landlord decides that they wanna turn around and sell the house, well guess what? You’re outta luck! So you want to buy your first home as that big first investment, let it appreciate over time, then get into the other investments that you want to get into, like the stock market.

But if owning a home is so important, why are so many people saying “goodbye” to homeownership? Well, the truth of the matter is people are just frustrated, and I get it. Frustration has set in, people are tired of competing over homes, and interest rates seem to never come down, right? So this is leading to a record number of potential home buyers that are saying “goodbye” to homeownership altogether.

It’s just frustration. It’s short-term thinking, and I really wanna combat that with helping you find a “good buy”, and getting your foot in the door on your first property.

Not every market is super high, and I recognize that I live in California, so I have a unique perspective on home appreciation of the last few years, but depending on where you live, you might not be seeing the same numbers that I’m seeing. So keep in mind that your area, your location, is going to dictate the affordability of the homes.

So my question is, are you working remotely? Yes? Could you move out of a higher priced area and move a little further away from maybe the downtown suburban area? That will have a major impact on the price that you pay for your first home.

Also, do you truly need a three bedroom, two bathroom house, or can you get by with maybe a two bedroom, two bathroom house, or maybe even a two bedroom, one bathroom condo? There are other ways to look at getting your foot in the door and finding a “good buy”, so that way you can take advantage of the appreciation and not be hurt by it.

Another way to find a good buy is to actually talk to people about your plans to buy. Some folks may have a friend or a family member who’s looking to sell their home or maybe even going through some type of circumstance in their life where they’re getting a divorce or they’re having a downsize because of a job change.

So if you talk to people about your plans to buy and you’re open about it, then it’ll lead to conversations that may actually lead to an opportunity for you to buy a home without all the competition and at a reduced price. You have to be open about your plans. You have to put it out in the atmosphere, let folks know that you want to stop paying rent and you wanna buy your first home.

Another point about being open and honest about your desire to own a home is to actually put together a game plan. You might not have it all figured out. You may be going through this for the first time and don’t have somebody to talk to about the pros and cons of homeownership, and so putting a plan together with an expert will actually help you achieve that goal so much faster.

If you want to work with Homeowner Prep and put together a game plan to buy your first home, that’s what we’re here for. Feel free to reach out to us. You can text the word START to 619-848-3700 or you can actually visit us on our website at from there you’ll be able to set up an initial consultation with us and start to put a game plan together to help you buy your first place.

If you just have a question or a scenario that you’re going through right now and you don’t wanna say “goodbye” to real estate in general, you really want to find a “good buy” or you want to know what’s going on in your neighborhood, feel free to reach out to us. You can reach us on any of the social media platforms, ask your question directly, and we tend to get the majority of those questions on our Instagram account @HomeownerPrep.

I hope you got some great value from today’s episode, and I hope you realize that it’s easier to find a “good buy” than to say “goodbye” to homeownership. I look forward to providing you with some more great content on the next episode, and until then, be blessed.

If you’ve enjoyed this show and got some great value from it, please be sure to rate and review and if you’re checking it out on YouTube, please be sure to subscribe. That really does help us to continue the show and bring in some great guests to help you on your home buying journey.

Connect with Homeowner Prep:

Want to buy a house, but not sure how to get started? Visit our Start Page and we can help you, no matter where you’re at on your homeownership journey. If you enjoyed this episode of The Homeowner Prep Podcast, be sure to subscribe on iTunes and leave a review. It means so much to hear your feedback and we’d love for you to help us spread the word!