#moneyandmortgages #homebuying #homeownership
In this episode, Adam Coleman hosts Sarah Cuddy, a Certified Financial Planner with Robert W Baird. We delve into crucial considerations for potential and existing homeowners, such as determining how much house one can afford, understanding housing ratios, and the importance of budgeting for maintenance, renovations, and unforeseen expenses. Sarah shares valuable insights on the difference between what financial planners recommend versus what lenders might approve, emphasizing the critical nature of making informed decisions based on one's budget and long-term financial plan. The conversation also touches on considerations for both first-time buyers and those looking into second homes, including down payment strategies. Additionally, Adam and Sarah explore the dilemmas of buying versus renting and offer advice on when refinancing might make sense. The episode encapsulates the value of working with financial and mortgage experts to navigate the complexities of home buying and maintaining financial health.
For more information on Sarah, check out her website: https://www.sarahcuddy.com/
00:00 Welcome and Introduction to Home Buying Insights
01:01 Understanding Housing Ratios and Financial Planning
05:58 Navigating Renovation Costs and Maintenance Planning
10:19 Factoring in Additional Homeownership Costs
13:26 Strategizing Down Payments and Financial Planning
17:01 Determining Affordability and Financial Planning for Home Buying
20:02 To Buy or Rent? Making the Right Decision
23:37 Refinancing: When and Why?
27:04 Closing Thoughts and Expert Advice on Home Buying
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Disclaimer: The information provided is for general informational purposes only and should not be construed as financial, legal, or tax advice. Always consult with a qualified professional before making any financial, legal, or tax-related decisions.
