39: Buying a house is an intensive (and stressful) process in the best of times. Throw in a crashing economy and global pandemic — and the fact we don't do anything the "normal" way — and our recent experience got pretty interesting.
Okay, to be fair, the pandemic didn't dramatically change much about the process of buying our first home, mainly because we were already in the middle of trying to close on it (so we had already looked for and found the property that we put an offer on and the sellers accepted).
But that's kind of the bigger point: we believe in our planning so much that not even a global pandemic made us change our minds about the long-term decisions that we were making.
In today's episode, we invite you to learn about all the unique, outside-the-box thinking and actions we took to buy our first home together. In this conversation, we'll cover:
- Our thought process on getting the most bang for our buck when we decided to purchase real estate
- What we prioritized before we agreed we could buy a property and why we still see massive value in renting even now that we're officially home owners
- Why we didn't buy in Boston (or anywhere near where we currently live and still rent)
- The difference between real estate as an investment, and real estate as a utility — and which one this house is for us
- The distinction between luck and skill/smart planning, and what will get the credit if the house ends up being a great investment in 30 years
- The financial criteria we had to meet before buying a house was feasible and worked for our financial plan
Finally, we leave you with the biggest lesson we hope you can learn from our experience with the process of buying a house. Curious about what it is? You'll have to tune in to find out.
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