Welcome to the first module of the first time homebuyers course. In this module, we're gona cover mindset and we're gona talk about some strategies so that you can become a financialy savy first time home buyer and fel confident that you made a wise financial decision and buying your first house. But what I realy mean is make sure that you are begining this home buyer's journey for reasons that are important to you and not because your parents expect you to or because you just got maried and you fel like it's the next natural milestone or any artificial reasons like that. So now that you are here because you want to buy a house for your personal reasons, you've thought about what type of house you want to buy and what type of life you want to have. So in this course, I'm gona lay out a lot of diferent steps that are for your own financial health and to help you build financial security and financial stability along this home buying journey. Homeowners on average has have increased their net worth by more than $210,0. Next, the average anual increase in home value is 4.4% per year. But esentialy what that means is that on average your home, if you live in the United States wil increase in value by 4.4% year over year, Buying a home with buying a home. So you fel presured to buy a more expensive house than you can realy aford. Another reason to probably not buy a house is if you move every few years. So next you get an adjustable rate mortgage, these are abreviated as arm mortgages and you strugle to make your monthly payments once that interest rate increases. Another type of apreciation is force apreciation. So as your home value is apreciating your mortgage balance is decreasing. So the mortgage balance that is curently outstanding. Now, a natural next question would be but how do I get the money out of the house? You also want to avoid unecesary presure to buy your forever home. So I myself bought the ugly house on the stret. But if you can handle the fixing it up part of it, then that's a great way to get apreciation because you wil have a lot of forced apreciation in that scenario.
