https://padlet.com/cbronson1/Chapter12 After watching the video provided on Canvas, write your personal reaction (5-7 sentences). It should be a 2 minute video. Then reply to two of your classmates before 11:59PM. *due date time has been updated to reflect upon technology issues. If you posted your response onto canvas, please resubmit onto here. en-us 2018-04-16 15:01:01 UTC 2018-04-17 03:43:22 UTC hello@padlet.com amandaknutte https://padlet.com/cbronson1/Chapter12/wish/252379937 I found this video to be pretty Interesting. Dave Ramsey explains that buying a house is a lot more beneficial than renting a house because you can earn equity on it. In this video Dave Ramsey also explains that buying your house near water and a place that has a good view will help you sell it later if necessary. He said try not to worry too much about how the house looks on the inside (ex. carpet, color of paint on the walls, etc.), Instead to focus on the "bones of the house" including the walls and overall structure of the house. He also talks about how location is the single most important factor in pricing of a house. I have seen this firsthand, in my math class we were looking up million dollar houses in LA. There was one that was so small and looked like a fixer upper but it was over a million dollars because of its location near the water and it also had a very good view. ]]> 2018-04-17 00:51:24 UTC https://padlet.com/cbronson1/Chapter12/wish/252379937 https://padlet.com/cbronson1/Chapter12/wish/252381779  What I learned from Dave's video is that a lot of people feel like they are forced into buying a home. They are taught from a very young age that buying a house is the most important thing that someone can do and they need to do it right away. Some people say that you shouldn't rent because no one should be a renter, but when you buy a house and you can't afford it, that is a disaster waiting to happen. You need to make sure that you are in the right spot financially and that you can afford at least 3 or 4 monthly payments on your house. One of Dave's points that I thought was really good was to only buy a house that is at the low end of prices in the neighborhood that you are looking in. This gives you a good deal and good appraisal on your home in the future. You shouldn't do anything that you don't feel ready for. ]]> 2018-04-17 01:04:39 UTC https://padlet.com/cbronson1/Chapter12/wish/252381779 hanr_iverson https://padlet.com/cbronson1/Chapter12/wish/252381812 It's better to buy than rent. I have always grown up with that mindset. However, after watching the video I am learning that it may be better circumstantially to rent if you have other debts to worry about. The mistake that people often make is buying a poor quality home because that is all they can afford but what they fail to realize is that they will end up spending a lot more money by buying one that is poor quality. And also, should they choose to move they will have a harder time selling and making money. When purchasing, location is also something to consider. It is ideal to look for the cheapest house in a good neighborhood. This is definitely the smart choice because it will benefit you in potentially selling and in the equity aspect of your home. ]]> 2018-04-17 01:04:56 UTC https://padlet.com/cbronson1/Chapter12/wish/252381812 https://padlet.com/cbronson1/Chapter12/wish/252383622 I learned that being on or near the water adds value to a home. I learned that it is so important to slow down when purchasing a home because it is the biggest purchase most people will make.   You should also not buy the most expensive home in a neighborhood because it will be harder to sell. The price of a house can fluctuate depending on how people perceive the area.  I realized that minor things should be overlooked when buying a house because it can result in a deal. I think these ideas are very helpful and should be looked at when purchasing a home.]]> 2018-04-17 01:18:05 UTC https://padlet.com/cbronson1/Chapter12/wish/252383622 https://padlet.com/cbronson1/Chapter12/wish/252386134 I like how Dave said the price of the property was based on location, it is true and I also liked how he gave the railroad example, it was cool to hear about. When I look at the place I live now I can see it, on one side of the road is the rich and on the other side is the poor. Overall, I liked the video, and it was interesting to hear him talk about renting a house, my friend is renting a house over the summer and the landlady wants him to replace everything in the house that doesn’t work. He told me he had a talk with her and she eventually agreed to pay for the broken utility’s. It was just an interesting conversation to hear about.]]> 2018-04-17 01:32:47 UTC https://padlet.com/cbronson1/Chapter12/wish/252386134 barnettw11 https://padlet.com/cbronson1/Chapter12/wish/252390389 I Really enjoyed Mr. Ramsey's video I found it very interesting and very informative especially in regards to buying a house. I really enjoyed what he said about you can pretty much get a really good house for a steal you don't have to go out and blow $100,000 to live in a good house, you could get a really good house for $50,000 or less it may require a bit of work but at the end of the day it will be cheaper to fix that house than to spend all of your savings on a house and that's it. I really loved his saying about when buying a house don't buy the top of the neighborhood and don't buy a house that's falling down either by no means but look towards the middle of the neighborhood you don't have to buy the very best house in the neighborhood to have a really nice home, and you could get it for a really nice deal. ]]> 2018-04-17 01:59:44 UTC https://padlet.com/cbronson1/Chapter12/wish/252390389 baileyarcillas https://padlet.com/cbronson1/Chapter12/wish/252408741 In the beginning of the video, Dave Ramsey talks about how in life people always tell you to buy a house or even rent it and it’ll be easy.  One thing that he said that made me laugh and stood to me is when he says, “When a broke people buy houses, you know what it makes them? Broker.”  I thought this was very accurate and puts a joking side on real estate.  Along with that, he states the obvious things you need to have before all of this takes place.  He says that you need to be out of debt, have a sufficient emergency fund, and save up your down payment.  I think that having a set financial plan is super important before you buy or rent a house.  Similarly, he states that the primary element is your house when inflation kicks in.  I think this is just one of the reasons why it’s smarter to buy a house in a good location.  Also, for buying real estate, he encourages us to follow the “100% Down Plan” which means “pay cash for the whole house.”  Although this may seem unrealistic, it is reachable when you have a grasp on the three things that I mentioned earlier.  Overall, this video taught me to try and get a fixed-rate mortgage for fifteen years or less, don’t buy a poorly designed house with bad architecture, and use good real estate agents, home inspectors, always get an appraisal, and always buy title insurance.]]> 2018-04-17 03:32:31 UTC https://padlet.com/cbronson1/Chapter12/wish/252408741 kcuhanad https://padlet.com/cbronson1/Chapter12/wish/252409911 When it comes to real estate, in order to be successful you must have no debt. For those who have debt it may be smarter for them to rent instead of buy. But if you do choose to buy you must be looking for a few things. The items that Dave Ramsey suggests I think are really important to keep in mind. He stated that look for the worst house in the best neighborhood and I have found that that is a very good strategy for buying a house. One that I plan to implement when I am out of debt and ready to buy a home. There are so many houses that have potential, so as long as you know what to look for so you're able to find the bargain houses and not the run down ugly houses then that's when you'll be able to get the most out of your money.  ]]> 2018-04-17 03:41:27 UTC https://padlet.com/cbronson1/Chapter12/wish/252409911