289 - 23 Real Estate Terms Homebuyers NEED to Know in 2025

How to Buy a Home

Worried you need a massive down payment or perfect market conditions to buy a home? David demolishes common homebuying myths by breaking down 24 essential terms for 2025, revealing surprising paths to homeownership – including options for single-income families, competitive market strategies, and alternative housing solutions.

Quote:

"PMI is not a huge expense and in fact it could be the greatest way for you to loan yourself an extra 30, 40, $50,000 for the low, low price of a couple hundred bucks a month."

Highlights:

• How could PMI and down payment assistance programs get you into a home with far less saved than you think?
• Is an ADU the solution to affording property in expensive markets like San Francisco?
• Why is a "contingency period" your safety net when making an offer?
• What makes seller concessions and mortgage points your secret weapons for lowering monthly payments?
• Could an escalation clause help you win in competitive markets without overpaying?
• How do home warranties protect your family's investment in the first year?
• Why might breaking your lease actually save you money in the long run?

Referenced Episodes:

Episode 90s (exact number not specified) A to Z (This is a series, starting with "A")

Episode 215: I interviewed that ADU guy

Episode 246: Topic: Breaking your lease

Episode 152: Topic: Breaking your lease

Episode 46, 49, 73, 75, and 84: Topic: Bidding Wars (older episodes with a "really crappy microphone")

Episode 75, 76, and 77: Topic: Bidding Wars (a three-part series)

Episode 49: How Much to Offer on a Home

Episode 250: Topic: Down payment assistance

Episode 287: Topic: Down payment assistance

Episode 66: Topic: Interest rates

Episode 261: Topic: Interest rates

Episode 198: PMI is a Privilege

Episode 216: PMI Still a Privilege and Still Not the Devil

Episode 225: Renting Versus Buying

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David Sidoni, the "How to Buy a Home Guy," is a seasoned real estate professional and consumer advocate with over 18 years of experience helping first-time homebuyers navigate the real estate market. His podcast, "How to Buy a Home," is a trusted resource for anyone looking to buy their first home. It offers expert advice, actionable tips, and inspiring stories from real first-time homebuyers. With a focus on making the home-buying process accessible and understandable, David breaks down complex topics into easy-to-follow steps, covering everything from budgeting and financing to finding the right home and making an offer.

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