Episode #14: Thinking of Homes With Seth Worthen of Osmond Real Estate
Bio: Seth Worthen was born and raised in Utah County. He graduated from Mountain View High School and is currently attending BYU studying Political Science. He is happily married and is expecting a baby in December. Seth is fascinated by all things real estate!
Show Description: Today Seth Worthen and I talk about the basics of buying a home, preparing for owning vs renting, important costs to consider when buying and maintaining a home, and the proper mindset to be in when you think about buying a home. We also take a moment to talk about the questions you should ask professionals to find the right professionals to work with.
- 1:45 – How to Finance a Home: DownPayments
- 2:20 – Programs for first time home buyers
- 4:07 – Positives and Negatives of 0-down options
- 6:30 – When people say “Buy a Bigger House”
- 8:10 – More opportunities that come with owning
- 9:20 – Extra costs to consider that come in buying a home
- 10:55 – Pre-Qualification, things to know
- 11:55 – Know your budget before you go in! Emergency Funds, and Wage Considerations
- 14:45 – A Real Estate Agent That Rents? Seth explains why.
- 16:05 – Dealing with and finding a strong and competent Real Estate Agent
- 18:52 – Good People with Good Skills get Good Referrals, because people feel safe and comfortable with you. More Thoughts on Success
- 19:45 – Deciding where you want to buy your house. “Must Haves” “Would Like” Lists.
- 24:50 – Getting What You Want From Your Agent – Setting Expectations
“You’re not dating a home, you’re buying it”
“Money is Not the End, And It’s Not A Means To An End. The End Is Your Life Goals”
“Do Your Best, And Money Will Be There”
Cognizantly decide to be renting, or to be in a mortgage.
If you’re renting, consider what you want to buy, and why. When? Where is the money coming from to pay for the home? What level of savings do you want/need to feel comfortable, and to afford a downpayment? Would you use a 0-down option if it was available?
Know your budget before you go into buy. Meet with a counsellor or expert (there may be a cost, but it’s worth it!) to figure out what you are comfortable with and what different price ranges will mean on your cash flow and savings.
If an agent pushes you to ‘buy now‘, that’s a warning sign! They should know the market, learn your situation, and never push you to buy until you’re ready. (there’s a difference between pushing you, and helping you to take action you want and are a little nervous about)
Listen to the segment from 19:45 – 22:15. What are your “Must Haves”. What are you “Would Likes” What’s the difference between the two?
Contacts and Links from the Show
Seth Worthen: 385-539-9940
Zillow buy vs rent calculator