No video :(

Renovate My House or Sell It?

Подписаться 3,3 млн

Просмотров 40 тыс.

50% 1

💵 Create Your Free Budget! Sign up for EveryDollar ⮕ ter.li/6h2c45
📱Download the Ramsey Network App ⮕ ter.li/ajeshj
🛒 Visit The Ramsey Store ⮕ ter.li/7vyom2
📞 Have a question for the show? Call 888-825-5225 weekdays from 2-5 pm ET or send us a message ter.li/n88ly5
Explore More Shows from Ramsey Network:
🎙️ The Ramsey Show ⮕ ter.li/ng9950
🍸 Smart Money Happy Hour ⮕ ter.li/9gcp3d
🧠 The Dr. John Delony Show ⮕ ter.li/2u3mc0
💰 George Kamel ⮕ ter.li/1elws8
💡 The Rachel Cruze Show ⮕ ter.li/n2u6jc
💼 The Ken Coleman Show - Highlights ⮕ ter.li/1rbjr2
📈 EntreLeadership ⮕ ter.li/ktxv2k
Ramsey Solutions Privacy Policy
www.ramseysolu...

Опубликовано:

21 авг 2024

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист

Посмотреть позже

Комментарии : 89

@sweatequity7160 2 года назад

The median household income in the U.S. is $76,563. Median home price is $428,700. To meet Dave's suggested 15 yr fixed at 25% take home pay you would have to earn $243,102/year and have a $80,740 down payment.

@stevexspeed7649 2 года назад

Nope…just means a bigger down payment to make it the monthly payment at 25% of your take home pay…you misunderstood what Dave meant

@kylewtracy 6 месяцев назад

Get less house

@d_all_in 2 года назад

People need to stop thinking they have access to their equity for anything other than rolling it into the next home.

@jimmymcgill6778 2 года назад

HELOC

@b.cdrisk2035 2 года назад

@@jimmymcgill6778 HELOCs are dumb, you are gambling with your house

@jrwntctv8091 2 года назад

@@jimmymcgill6778 AKA the dumbest concept ever.

@jimmymcgill6778 2 года назад

@@b.cdrisk2035 How is it dumb? Because Dave said so? Pay it back, and nothing wrong with it.

@nic_ccc3366 2 года назад

Major renovations like that are a nightmare IMO especially right now with inflation and ongoing supply issues. Not to mention the huge disruption to your life. Unless they really love their neighbourhood/area and this is their 'forever home', I would definitely sell.

@maryfields877 2 года назад

That's what we did. Adding on would have cost WAY more than moving and we had a negative back up to boot. Unbelievable. We bought a bigger home right across the street that we've always loved.

@genxx2724 2 года назад

I knew a family who added onto their house with a professional kitchen, and a wood-burning pizza oven in the back yard. Idk whether they added the pool or it was already there. They knew they were over-improving for the neighborhood, but they plan to die there. They loved the neighbors and their three children are now grown and have families. They made a beautiful, rich life.

@jimmymcgill6778 2 года назад

If you're going to stay in the house forever or the rest of their lives. Then so what if they overbuilt for the neighborhood.

@sneakerfreak2002 2 года назад

Kewl

@daisykaren6584 2 года назад

I would highly fought a house has a wood burning pizza oven.

@1_South_Business_Services Месяц назад

Renovations are not supposed to easy!!!! Everyone situation is different so adjustments and alternative plans can be made.

@susan5661 2 года назад

I wonder if they really need a larger home? A bigger home costs much more than the mortgage with furnishings, cleaning, repairs and upkeep, insurance, etc….

@daveblackman816 2 года назад

That’s what I was gonna say

@RaulGonzalez-yt3ys 2 года назад

@elizabethallen4353 2 года назад

I definitely possess a lot of "HGTV confidence". If they can tear up their house and make it perfect in a half hour, why can't I? 😂

@logancook4538 2 года назад

The curtain rods are relatable.

@yayyareaa2997 2 года назад

Grounds for divorce 😂

@briankowald6465 2 года назад

Depends if they like the neighborhood and the location. Is it a nice big shaded yard? Is it close to where you work, family or stuff you like? But generally, to sink $100K into a house might be hard to recover.

@aolvaar8792 2 года назад

If you intend to die in the house, what is there to recover?

@jimmymcgill6778 2 года назад

@@aolvaar8792 I hate when people keep on thing always about future resale. If you're living in there for a long time. Then who cares about resale.

@kellyr5123 Месяц назад

Better to sell even with double the interest rates? We bought our home for 230,000 four years ago. The homes in our neighborhood are now selling for 415,000. But if we move our interest rate would be double what we currently pay!

@GMFcarphoto 17 дней назад

Can't you reset the loan and take out the money as a home equity loan and then rent it to someone to take over those payments? The rent payments would be higher and they would eventually own it or maybe sell down the road when paid off but you have access to borrow that money for cheaper for your next home.

@kellyr5123 17 дней назад

@@GMFcarphoto we have no interest in owning two homes and fixing a rental.

@johndone8045 2 года назад

Right now 130k doesnt do too much I added an extension on. Top of an exisiting first floor, minimal. Work. On first floor and gut second Already cost me 160k back in 2018

@jimmymcgill6778 2 года назад

Gutting a whole floor, and building a second floor, is not minimal work.

@Davvidd702 2 года назад

Rice and beans

@CajunSmack 2 года назад

Beans and rice

@_Philip_. 2 года назад

Rice and rice :(

@tyroneshoelaces9742 2 года назад

My question is this. What if someone inherits a house and it is outdated. They don't want to add on but want to do a major reno of the inside and outside. Not add on and not knock out all walls but just a major reno of what is already there. It is still better to sell and buy another home?

@elizabethallen4353 2 года назад

I think Dave's answer is: would the current value + reno cost be equal to or more than the most expensive house in the neighborhood? If yes then sell the house. Just math. Not including any emotional component.

@jimmymcgill6778 2 года назад

@@elizabethallen4353 So what if it's the most expensive house in the neighborhood.

@jimmymcgill6778 2 года назад

Every house gets out dated. He said he want's an addition. Dave thinks that is building another floor, and rebuilding wall. More than likely, zoning will not allow him to add another floor.

@wbawba4275 2 года назад

@@jimmymcgill6778 you never want the most expensive house on the block. If you have the lowest priced house the more expensive homes make yours worth more. But if you're the most expensive there are no other homes to bring yours up. They only bring yours down.

@jimmymcgill6778 2 года назад

@@wbawba4275 It's a home. You reno for yourself. Not what some future buyers

@FalafelUnited 2 года назад

Home of The Office!

@leahyee4016 2 года назад

We can have a big fight hanging curtain rods 🤣

@jimmymcgill6778 2 года назад

You can tell Dave knows nothing about reno's You are not changing half the structure. Dave is talking about adding another story. Adding additions are not always adding another story.

@georgewelker853 2 года назад

I’ve always enjoyed the process of changing and creating a house into a home. I also have the most awesome and patient wife in the world who dreams up the idea 💡 then I get to fumble it into reality

@J3llyBean423 2 года назад

SRB 👍 Yep

@curtis1997 2 месяца назад

He moves six to eight months after changing out carpet? This is guy is so out of touch with the normal person, it’s embarrassing that he try’s to give anyone advice. We aren’t all millionaires!

@Mexicanita1904 4 месяца назад

So he's more worried about having to live through construction? Because he has money, Mr. Ramsey says just move because he can't afford it, but not everyone can. He apparently hates renovations even just changing the carpet!

@zimmermanlandscape9287 2 года назад

Just keep selling that paper….

@summerforever6736 2 года назад

150k to renovate????

@jml9550 2 года назад

$150 renno ain’t much here in some area, like the Bay Area here. A new kitchen, remodel 2.5 baths, new flooring, lightings, and backyard cost that much.

@summerforever6736 2 года назад

@@jml9550 whata rip off say it as a contractor

@jml9550 2 года назад

@@summerforever6736 well, they think money do grow on trees here in the tech valley. Well Starter home here is $1.3M and up in a ok school district.

@jimmymcgill6778 2 года назад

@@jml9550 Well he doesn't like in the bay area.

@jml9550 2 года назад

@@jimmymcgill6778 sure, Bay Area is not for everyone and nothing wrong with that.

@gnawty4662 Год назад

But what are your thoughts on renovating a home? 100% renovation.

@JKweez 2 года назад

Dave Ramsey doesn't believe in Title VII

@onlyfacts4me Год назад

Me and my fiancé are renovating a house. .. She is a hateful person towards me and I want to end it. .. Do I wait until the house is complete to break it off then sell it? Or should I bail out while its still under construction.

@Kittycattnatt 2 месяца назад

Damn did yall make it

@jayc4715 2 года назад

Renovate..then see how good or bad it turns out..then decide

@anthonykence9954 2 года назад

Is any american ever happy with the house they live. You have to spend more money on an addiction.

@_Philip_. 2 года назад

There is also other nationalities in the world that live in houses m8

@anthonykence9954 2 года назад

@@_Philip_. other people outside the US have houses really

@_Philip_. 2 года назад

@@anthonykence9954 yes and they also have addictiona m8

@jimmymcgill6778 2 года назад

SO Dave would rather they spend more to buy, than to do a reno?

@Ihaveknowideawhatimdoing 2 года назад

After the renovation they will have both the smallest and most expensive house on the block. Not smart. Better off moving

@jimmymcgill6778 2 года назад

@@Ihaveknowideawhatimdoing So what if they have the most expensive house on the block?

@Ihaveknowideawhatimdoing 2 года назад

@@jimmymcgill6778 hard to sell. You will be essentially stuck. All the houses around you will be bigger and cheaper. To sell your home you would have to discount it. Now you are actually losing money on the restoration

@jimmymcgill6778 2 года назад

@@Ihaveknowideawhatimdoing No it won't . It's their house. They should enjoy. And not worry about how much you can get for it later on.

@Ihaveknowideawhatimdoing 2 года назад

@@jimmymcgill6778 they are already thinking about moving