Ep. 160: Home Buying Goals in 2025? This is What You Need to Hear!

INFO

In this episode of the Money & You Show, host Michelle Perkins and guest Jennifer Beeston discuss home buying and mortgage lending with a focus on first-time homebuyers. Beeston, an experienced mortgage professional, highlights the challenges faced by homebuyers in recent years, particularly due to fluctuating interest rates and competition in the market.

The conversation emphasizes the importance of financial education and transparency in the mortgage industry.

She stresses the need for potential buyers to assess their readiness and financial capacity before committing to a home purchase, advocating for a budget-based approach rather than relying solely on lender qualifications. The discussion also touches on misconceptions about down payments, particularly for veterans and first-time buyers, and the importance of understanding the financial implications of homeownership.

This episode is significant as it aims to demystify the home buying process, empowering listeners with practical advice and encouraging financial literacy first to ensure the experience is a good one.

00:05 – Introduction to home buying

08:59 – Preparing first-time homebuyers

16:44 – Understanding down payments

28:06 – Demystifying financial education

39:02 – Exploring condo investments

45:53 – Market trends and reality

Key Takeaways

– Commitment is Key: Buying a home is a significant commitment; ensure you are ready before making a decision.

– Budgeting Matters: Create a budget to determine how much you can comfortably afford for housing. Jennifer explains how to do this well.

– Down Payment Options: Many buyers may not need as large a down payment as they think; explore various loan options with someone with broad knowledge.

– Financial Literacy is Essential Understanding finances is crucial for making informed home buying decisions.

– Realistic Expectations: Both buyers and sellers need to have realistic expectations in the current market and beware of what the media is saying.

Conclusion

This episode of “Money & You” is a must-listen for anyone considering homeownership in the near future. Jennifer Beeston’s insights and practical advice will empower you to navigate the home buying process with confidence. Whether you’re a first-time buyer or looking to invest, this episode provides valuable information to help you achieve your home buying goals.

For much more on ALL things money mindset, money management, how to earn a great living and take control of your finances…Subscribe to my weekly podcast, Money and You:

https://podcasts.apple.com/us/podcast/money-you-with-michelle-perkins/id1365907575?ign-itscg=30200&ign-itsct=podcast_box

Please share the episode or the podcast with your friends and family members who want to understand money better and feel in control of their financial lives.

And don’t forget to join the Limit Free Life email community for valuable, usable content and to learn about upcoming events: Let’s Connect… https://limitfreelife.com/newsletter/

I’m excited to offer you a proven way to develop a next level relationship with money that will empower your mindset and financial mastery by “dating your money.”  Until you understand how YOU relate to money and what you believe about money, nothing will change. Once you begin to get to know yourself with money, learn the fundamentals of money management, and operate in a new way with money, everything will open up. Join my newsletter so I can let you know when my next “money dating program” is starting and I’ll help you make the shift. The next one begins soon!

For more information on Limit Free Life & Michelle Perkins: https://limitfreelife.com

LinkedIn: https://www.linkedin.com/in/limitfreelife/

Instagram: https://www.instagram.com/livealimitfreelife

You Tube: https://www.youtube.com/@michelleperkins-limitfreel2446