Homeownership is work, but the benefits far outweigh the effort when it comes to owning a home. In this episode we flip the coin from episode 243 where we talk about the trials and tribulations of being a homeowner and look at the positives to owning a place of your own. We are talking about the motivations of home buyers and the financial, emotional and physical benefits of owning a home. If you are on the fence about homeownership we are going to give you the pros list to pursuing that piece of the American dream. Tax deductions, pride of ownership, community growth, and freedom to make changes plus lots more are on our list. Come listen to the whys behind our love of homeownership!

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The following is a rough transcript provided by Otter.ai.

Alissa 0:01
I was really trying to not be so down on myself for not buying more real estate in 2007 I mean, I was only in the ninth grade.

Katy 0:10
You buy a house out in the country, get a goat, get a chicken, like you know,

Alissa 0:14
do whatever you want. Home owners have 40 times the net worth that a renter does.

Katy 0:23
Yeah, cuz when you’re thinking about it yet a whole nother house for just $100 a month.

Alissa 0:30
Which brings me to my beach dilemma. Hi, y’all, welcome to hustle humbly. It’s Alyssa and Katie and we are two top producing realtors in the Baton Rouge market.

Katy 0:42
We work for two different companies where we should be competitors. But we have chosen community over competition.

Alissa 0:47
The goal of our podcasts is to encourage you to find your own way in business to stop

Katy 0:51
comparing yourself and start embracing your strengths. Hi, Alyssa Katie. Welcome. It’s episode 247. May flowers.

Alissa 1:00
This is our follow up episode to April showers. Were being

Katy 1:04
kind of Debbie downers about homeownership. And to be fair, we like homeownership.

Alissa 1:10
We do. But we need you to remember that anything that makes you money is work. Nobody money.

Katy 1:17
Oh my god, that is such a great way to say it. Anything that makes you money is work. Literally.

Alissa 1:24
People are like, wow, owning a home is hard. Yeah, guess what your net worth is building every day,

Katy 1:28
every day. Every day. You’re making money. You’re making money. What’s your favorite thing about being a homeowner

Alissa 1:35
that I can do whatever I want to be like, I

Katy 1:37
can do whatever I want? Or nothing at all. Yeah, I

Alissa 1:39
don’t. Yeah, like mine. I don’t have to call a landlord and be like, I want to paint the nursery

Katy 1:46
or that right. You’re like, if I want an accent wall, I

Alissa 1:48
just put it up. If I want to get a new dog, I’ll get a new dog. Good. Oh, good point. I’m not asking if I can get a new dog freedom to have your

Katy 1:55
own pets is pretty big. Yeah, without paying additional pet deposit worrying about where it pees in your house and your case? Yeah,

Alissa 2:05
yeah. Hopefully by the time this episode airs where

Katy 2:09
the dog won’t be peeing in the house. We can spray, let us all let’s take a moment of silence for Puppy Potty training.

Alissa 2:17
There’s just I also feel like every time the lease would come up for renewal, thinking back to, you know, college days, and when I was still renting when the lease would come up for renewal. It’s like, Am I staying? It was just sort of this uncertainty. Always. Yeah, you want to feel settled? I don’t want to move. What if the landlord sells the property? What if the apartment complex closes? Or changes hands? What

Katy 2:40
if they raise your rent? And you don’t have any control over that? Right? Yeah. Well, so funny. You should mention that. In college, so I grew up in the house that I grew up in, I was there the whole since the age of three all the way through graduation. Same house, right. So I’m not like a expert mover. When I went to college, like every six months or so, here, we are moving again. We didn’t like that apartment. We’re doing this. If I go back and think where I lived, I probably couldn’t count the number of addresses I had between the age of 18 College starts. And you know now, right? Except I was testing out the been verified software. Yeah. Okay. Yeah. Which is like a forewarn it has the it’s an it’s a data collection, right. So I’m like, well, I’ll just put my own name in to see what it comes up with. And when I mean to tell you it spit out every address I had ever lived at. I was just like, Whoa, I couldn’t even remember the street name I lived on when I was in Colorado for six months. There. It was. There it is. There it was. I was just like, wow, that was great. It was like a walk down memory lane. Yeah. But like, you’re right. Every time your apartment lease comes up, you’re like, Well, what

Alissa 4:01
am I going to do? It was much easier to move then because it was like just your bedroom pretty much. You know?

Katy 4:07
What have you have kitchen stuff?

Alissa 4:08
Yeah, a little bit. You didn’t mean it’s some stuff? Yeah. Right. Moving as an adult Oh, you know, kids and pets. It was just

Katy 4:17
note we’re supposed to be on the UPS now. Yeah,

Katy 4:20
bring it bring it back. Moving

Alissa 4:21
is not fun. And that’s why you should just own it. You right, you stay long stay there, put down your roots. What’s the average seven to nine years people stay in their gaming. And now higher and higher.

Katy 4:34
I will say this. I’m not adverse to moving like the it’s not fun, the physical part. But I like the change the finding a new place is fun, and we’ve built twice. So when we went to build this house, I’m like, well, we’ll just keep doing that every two years we’ll build because why? Owning a home and building it yourself is you can get tons of like sweat equity. It’s almost like flipping Yeah, right. Yeah. like this is a great investment plan, we will just build live there for the two years so that we don’t have to worry about capital gains. And then we will sell and make the money the first house that we built, we sold and made $100,000. Awesome. If we had stayed a few more years, we’d have made even like more than that. And more than that, yeah. But we moved here and I’m like, we’ll live here for two years, and then we’ll sell it and make another chunk of change. It’ll be so great. I’m still here. Well, it’s a great spot 10 years later, along with every other average citizen who’s staying in their house 10 years, because we love our lot. We love our location. We love our neighbors, the neighbors are what really, I’m like, Oh my God, you don’t know who your neighbors are. And when you get I know everyone’s name on the whole street. And we hang out and like they would be able to be like, Hey, do you need help with this? Or? I mean, like, I can’t tell you how many times in a week, you know, someone’s like, can I borrow a ladder? Can I do this? Hey, do you want to come over and eat? Like, what are you doing tonight hanging out on the driveway like, so I couldn’t leave? Yeah. So I really love owning this home. I mean, it’s still increasing in value, but it’s not expedited in the flip style. When you said how

Alissa 6:15
much you made after building your own home. I think that was a good reminder that, you know, hat being married to Jay, he knows how to do that. So that is a way if you do it yourself to earn money quickly, like a lie. In a typical situation, when you live in a house for two years and sell it like a resale. You’re not gonna You’re not making that go.

Katy 6:36
But it truly was sweat equity. It was as if we bought a house that needed renovations and lived amongst a renovation, right? It was just different because it was new construction. But if you buy a house that you’re going to renovate, same thing, you can make some of that you can make a lot of that money back, and you can enjoy the property even more.

Alissa 6:55
I think if I was single, I would probably be moving into different houses to renovate them, and then just move every two years. Yeah, I’m pretty minimal. I could do that. Right? If I didn’t have to take into account like Tanner and kids, right, things like that.

Katy 7:10
Well, the nice thing about being a homeowner is that’s an option. Yeah, you can stay as long or as little as you like,

Alissa 7:15
it reminds me of so there’s an agent in my office who is Sim like semi just does her own stuff now. But back in her 20s She was a single mom figuring it out. She’s She’s older now. So like this was like, there weren’t that many single moms back then. It wasn’t as accepted. She was having to make it work, right figure this out as a young young woman with kids on her own. And she said that her motto still to this day is like never sell your real estate, always. So she always keeps it. So every time she moves, she would just keep her like she started off in a little townhouse. And then she got this tiny little detached house, but she kept her townhouse and rented it out. And then when she could upgrade, she kept the tiny house. She got up to like 60 houses 60 pieces of real estate that she owns. Wow, very. And now she didn’t move into all of them. But as she was building her business and making money, she started making her own investments into them. Yeah, like come across a good deal. So she was like, oh, gosh, I own everything from a small garage studio thing that makes 800 a month all the way up to like a bigger home that I could rent out for 3500 a month. Wow. And everything in between times 60. And then over the course of 50 years that she’s been doing this. They’re paid off. Yeah, she’s just but she also manages them herself. While I showed one of her rentals one time and when I got there, she was there sweeping? No, you’re like what are they? What are you doing here? Oh, well, I knew you were showing it today. And I just wanted to make sure it was tidy and she was like talking to my my guy and she was like you know, she also keeps a storage rental for anytime there’s an extra fridge that a seller or buyer doesn’t want anytime there’s your washer dryer smart, smart. So he was like, Oh, well you know, this one doesn’t have a washer dryer. She’s like I could get you on if you need one. Just let me know I’d be happy to. She’s just the most laid back person I love. And I’m like how can you be so laid back and own 60 but what I loved about her perspective is she said, you know, my family like growing up we had like lost some stuff in the stock market. I saw my dad be so stressed out, checking it every day. And at the end of the day when it crashed he was left with like a piece of paper. They said nothing like you don’t actually have anything there. She said even if the housing market crashes. I have this physical building here it is I could she said I could bake bread. And she could I could do anything I want with this structure. I’m not left with A. Do housing markets crash? Sure. Yeah, they come back. Sure. Yeah. But no matter what happens, I have this. I own this.

Katy 10:16
It has value has values, the item has value. Yeah. Even if there’s a crash, right. I love that. So building equity. Yeah, I

Alissa 10:26
love those memes that talk about. It’s like the old people do in like the DNA. And it’s like, the old person that just sold their home that they never renovated or updated ever. And they bought it for like $40,000 and kept it for 50 years and just sold it for $400,000. Right. They’re just like, and it’s like pictures of like the wallpaper and then they’re like, never updated. It never touched it and have to. And I felt that that was a good reminder to when you know, she was talking about never selling your real estate. Yes, real estate is appreciating. And speaking in general terms. Yeah. Okay. Are there situations? Sure. But even if you kept a house for like, imagine if you kept the house for 40 years. That’s a long time. How much it would appreciate, even if you did nothing? Oh, yeah, for sure. Like I just bought a house that had been neglected. It was her childhood home. Mm hmm. She her her parents owned it before she was born. She’s now an adult, and has kids of her own. But her dad passed away. And like towards the end, he was just letting everything out this house needed repair. Yeah, like I’m thinking do we tear it down? I don’t know. But we still sold it for like $190,000. But they paid like 35 Holy smokes. So even all those years ago, right? So it’s like there’s different levels of care. And care versus time. Like, I wonder what that chart was? Very interesting. Like, well, how much did you take care of it? How much would we have gotten? If it was not? Yeah, never

Katy 12:11
pair. Alright, last time we talked about projects and how sometimes you don’t want to do them. Sometimes you do them and it’s like, this is such adulty ways to spend your money. I don’t want to buy new sod. But at the flip of that coin is projects mean you get to pick new things. You get to enjoy your like, reinvigorate your space, you get to enjoy it in a different way. We added porch furniture last May because we were hosting a big party. It had had a dining room table out there like a outdoor table for the whole time we’ve been here. We may be what eat two meals there a year. No one ever sat on the screen porch. Truly. Yeah, we had a party, maybe we would display some food there it would it just didn’t get used that often. We decided to Jay has always wanted the hanging egg chair. I love those. It’s just like his dream. I think he had one when he was a kid. So we get to x hairs we get a couch, we get rid of the dining room table completely. And we set it up like an outdoor living room. Yeah, TV was already out there, the rug, the chairs, we get it. I pulled down my staging coffee table from the attic from the attic. And I was just like, we’ll put this one out here. And it looked like a whole room and the kids go out there every single day, Jay will go drink his coffee in the egg chair. I mean, we have eaten meals out there. We’ve watched TV out there, we’ve watched movies out there, like I’m a huge fan of the egg chair is so great. It’s so great. But that’s just something you know you have that you have that ability to change your space to use it in a different way you can change a bedroom to an office you can you can do whatever you want in your house.

Alissa 13:53
And I think that when the project is finished, you just appreciate it so much more because of the work that you had to do to get it how you want it. It’s not like you just snap your finger. When

Katy 14:04
I look at my home, I feel a feeling of love. It is an entity in our family, right? Yeah, like having a home that you love or that a stable place you go is with especially if you’re like a homebody, it’s a place you go back to it’s a place that you like to work or be or spend time or have friends over. Like, it’s just so nice that you have that space. If I was renting a one bedroom apartment with, you know, no dining room table and no Island. Well, how would I even entertain people? Right? Like even a few people. Now it’d be harder for lecture room. Yeah, but it’s just owning a home means you have so many options. And at the end of it, you’re enjoying whatever you’ve done. Yes and it will help you resale. Okay, do you want to hear a couple of quick stats 26% of people in our 2023 buyer seller report said the primary reason for purchasing a home was the desire to own a home of their own. Wow. Okay, wait for this. For first time buyers, that number jumps to 60%. They’re just like, can I just get something of my own? Yeah, I don’t want to be told what to do. I want to make the rules within my home. Now if you’re in an HOA, that’s different, because you do have some rules you have to follow. But if you buy a house out in the country, get a goat, get a chicken, like, you know, do whatever you want. Build a windmill, I don’t do whatever you want. Yeah, it’s yours. Do whatever you want. And like, no one’s gonna make you go away. As long as you pay the mortgage or you own it outright. It’s just like, it’s yours. Yeah. Okay. What are some of your other favorite things about homeownership? Well, in the

Alissa 15:47
2022, Federal Reserve stats, they were saying that the net worth of a homeowner Oh, yeah, is $396,000 on average 396. Let’s just take a reminder that your net worth is you take everything that you own, a car, a house, any other asset that you have, and then you subtract all of your debt. So if your house is worth 300, and you owe 200, your net worth is 100,000. Right? Okay. So the Federal Reserve said $396,000, is the average net worth of a homeowner, a homeowner, homeowner, a renter in the same year had an average net worth of $10,400. I mean, that’s a big difference, a huge difference. And they are saying, you know, sometimes you hear people say, Oh, well, so much of your mortgage is interest? Well, all of your rent is, is going to someone else, at least with a home, even if you if you’re just staying in it staying put that mortgage principal is going down in value, like ever so slowly, at the same time that real estate appreciates. So even though that is just a slow game, eventually, right? They pass each other, and you have equity, a lot of it. And that’s without trying. These aren’t flippers that we’re talking about. Yeah, these are just people that bought a home at some point and just live there. Interesting and had a home. Yeah. So even without doing anything, as long as you are paying your mortgage, you are ahead. And so that was the Federal Reserve, quote, The National Association of REALTORS just made a statement that said, home owners have 40 times the net worth that a renter does 4040 times. Yeah. Which is about how the math Yeah, right. So 10,000 to basically 400,000 So it’s just Holy moly. Very interesting. Okay, that’s

Katy 17:54
very interesting. What is your favorite place in your home?

Alissa 17:59
Huh? I just love being outside. And I love my porch swing. So just being in that space is good. And then you know, I love my bubble bath. Mm hmm. And I love being in bed. Good night. Good night.

Katy 18:17
Good night. I know I my back porch is definitely my favorite. Yeah, we go out there and throw the ball to the dog. Right now. We’re revamping the front entrance. So it looks to be I’ll sit out there. Yeah, look at my fountain. My office is probably one of my favorite rooms in my house. Because it’s just mine. I

Alissa 18:38
also like wanted to share a different view on investors. Okay. I have some clients who just bought a new home and we were planning to sell their old home after they got settled. They did not have to sell it to buy. They were going to sell it to get their equity, put it into their new home as a recast and lower their monthly note, right? Well, after doing the numbers, it was only going to save them like 100 bucks a month Okay, recast and he was like my interest rate on the old home is so low. Our monthly note is like 1300. Like, maybe we should try being a landlord. And their question to me was how much money do you like to make on your rent or rentals? And when I was new, it was much easier I could make you know, back in 2011 2012 I could make $700 a month Yeah, between what the payment was and what I could get for rent, with interest rates and values and everything being more expensive like that is closing and I like to keep it at around 300 You know, clear 300 After paying off the mortgage and everything but I have investors that some will buy houses even if they’re breaking should flush. Yeah. And at first I was like why would you do that and he said, I have a job. I don’t need this for monthly income. I’m just buying it to let somebody else pay off. Long term that’s long term investment. He can have he, I think in one of his better investment properties that is in a better location. He pays $100 A month interesting, but he’s like it’s gonna be worth so much more that I’m not doing it for that. Yeah, I’m fine to own a house and pay $100 a month. I thought that’s a really interesting Yeah,

Katy 20:33
cuz when you’re thinking about it yet a whole nother house for just $100 a month right maybe one day he can get the rent up a little bit

Alissa 20:41
good. He could do that now if he wanted to put some money into it but he’s like my my tenants happy not picky. So I’m not gonna write leave it the way it I’m just gonna leave it and maybe when they move out, I’ll but I thought most people would think you pay. That’s crazy. To him. He’s like, I have a whole house for $100 a month. Right? That seems that also seems crazy. Yes. Wow. It’s all about how you’re thinking about. What do you need this for? Yeah. Um, my dad told me that when he was much younger, he somehow acquired some apartment buildings that were going into foreclosure. Interesting, but they were like, sort of living off of the rental income. That would be a different situation. Yeah, you can’t own these homes. Like that wouldn’t work in that situation. In in hid in my investor situation. He had a very good job. Yeah, he wasn’t banking on that $300 A month from this investment property to pay his bills, right. He was just letting somebody else pay all of the mortgage and interest. And make, and I as interest rates have been higher? I am seeing more investors acquire that mindset. Just to like, yeah, like your start now. You know, what do they say about a tree? The best time to plant a tree is because no, they

Katy 21:57
say that wait, the the best best time to plant a tree is five years ago, or 10 or 15, or whatever you say, the second best time is today.

Alissa 22:06
Which brings me to my beach dilemma. I never did buy anything at the beach. I love the thought of owning a piece of the beach. But the numbers like don’t work. And I do believe for me right now. I do believe you need to be financially responsible. It’s one thing if you’re paying 100 bucks to have a house, it’s another thing if you’re losing significant amount of money, right? Every year, right? But it’s like sometimes I get really down on myself that I’m like, Am I one of those people? That’s like, I just need to wait for the rates to go down and then or do I just need to put more money down so that it’s lower and work on paying it off quickly? Like I never bought? So it’s sort of like I’m not taking my own advice because in my mind my cabin cash flows so well, right. But I cannot compare the cabin to the beach. They are different properties, different price points, different insurance insurance at the beach is much higher than insurance at the cabin. Right? But

Katy 23:08
then it’s like, why? Here’s my question. Why are you so focused on it being at the beach? Why don’t you just buy a second cabin and use the money to pay for more vacations at the beach? Well, you can’t get cabins for what I paid a great I’m just saying, You know what? You buy real estate in Iowa or, or yeah, in Italy

Alissa 23:28
anyway and use the rental income to pay for the beach. You could

Katy 23:31
buy a whole apartment complex in Wisconsin, like, anywhere, it doesn’t matter where no, and then you just take the money you’re making and that’s your earmarked as your beach money and then you go to the

Alissa 23:44
beach. No, it’s just so many different ways to do it. You know, I

Katy 23:48
think I love the idea of owning a piece of beach. That’s your happy place. You want to go there whenever you want. But then it’s like, there’s 60 million things for rent at the beach. Right? At any point in time. As long as you have the cash, you could technically go

Alissa 24:01
up I feel like to with Jay being so handy. Like if you own a place at the beach when y’all go as a family. Because you own it. You could be like, hey, we need to paint this wall J or like we

Katy 24:14
flip a property at the beach and keep it like renovate like a that would make more sense to me. Yeah, but I don’t think we can solve your problem. No, no, I

Alissa 24:25
just thought it was interesting that this is my dilemma, current dilemma that I never made any moves on and then I feel like the moment sort of passed me by it won’t it will come back. It’ll come back and I’m just kind of waiting to see what happens. You just be mindful.

Katy 24:39
Look, it’s never I guess the point was, it was never a bad here’s your April, you’re may shot your flower. It’s never a bad time to invest in

Alissa 24:47
real estate, right? It’s like just like the tree. The best time to buy a house is 10 years ago, right? And the second best time is today. The meme that’s like Sorry, I’ve been really into memes lately. Let’s hear it I mean, that’s like, um, I was really trying to not be so down on myself for not buying more real estate in 2007. I mean, I was only in the ninth grade. Like I couldn’t, right. That was the time imagine if you would have bought so much property. Yeah. And then sold it COVID madness. Yeah, like

Katy 25:19
Imagine. Imagine. Oh, I now what else do you love about homeownership? What are some of your other

Alissa 25:28
favorite things? Hmm.

Katy 25:32
I like you know, having a home base. Even if you are someone who travels a lot or like, it was just just your space, like all of your things. Were there. Again, we’ve already talked about being able to change it having that pride and ownership meeting your neighbors like being part of a community. Like it does give you some grounding in life.

Alissa 25:50
Yeah. Right. Like the idea of it being your home base like yeah, like Just where are we go? Yeah, I have a hard time. Like when I moved from our house before this one to this one. I have a hard time you did. And it was weird, because I wasn’t used to like feeling emotional in that way. But it was like, I had two oak trees there. And even though I wasn’t getting oak trees where I am now I got I was getting more trees more. Yeah. And but it was like, you know, this was my kids nursery. And this is these are projects that we did, right. But then once I got settled in the new house, I was like, it is better.

Katy 26:27
Yeah. And you have emotional connection to your home you do, which is sure. Very nice to have. And it’s a stable place for your family. If you have one. It’s just it’s very nice. I enjoy.

Alissa 26:43
I was gonna say living alone. But some wives really resent hunting season. I don’t mind it because I think it’s a good break. Like I like my weekends when I do what I want in my house. Right? And it

Katy 26:58
stays that way. Okay. It’s so funny, because I do think there are memes about this where it’s like, you know, the plans got cancelled or somewhat, everyone’s out and you’re like, a whole night alone in my own home. Like no, I imagine the freedom all the things I could do. Yeah. Just how you want it.

Alissa 27:17
I know. And I also just want it hosting. So you know, we do like crawfish boils and other like had baby showers at my house and I love a good event to make you really get the house and like tip top shape. Oh, yeah. power washing and raking and making sure the flush after the party is over and you clean up the house has never been in better shape. After you clean up. Yeah, it’s like the yard is done. Everything is decluttered. I like

Katy 27:47
that it’s never all the way finished to like I like that my home is a it’s like a PERT like it’s always could be improved. It’s always there’s it’s not done somebody like I’m just waiting for it to be done or like all the way like, if it’s done and I’m done that I’m probably dead. Yeah, like never

Alissa 28:05
done. It’s never done. So Katie has a half bath and her house that’s like the our office bathroom. And she changes out the soap and the floral. Whether it’s a leaf for a flower, she changes out the hand towel. Not just like for Christmas, but like sometimes. Weekly. I go in there and it’s different. I don’t know that it’s weekly. But yeah, often it does change monthly for sure. Probably so but it’s always fun to like go in there and see what says it’s up to date in here. Like you even pay attention to something as small as your half bath. Yes.

Katy 28:42
But that you can make that look also perk. If you like pretty things, having a home that yours you can go by a lamp or a candle or a thing of fresh flowers and you bring them home and you’re like, Oh, look at this. I love this. I’m so happy to do this. Let’s go back to a financial benefit that we haven’t hit on yet. tax deductions. Yeah. Okay, you’re our financial girl. Do you want to speak to this at all?

Alissa 29:11
Sometimes I get on the fence on like, Oh, don’t like because I’ve had financial advisors tell me don’t pay off your mortgage because you get a tax benefit right now. And because you’re working and making money you could use they want you to take your your money, like the equity invested elsewhere, that’s gonna pay more than the interest that you’re actually paying, right? Which makes sense. It’s totally a minute to get there because it just felt like the right thing to do is to pay off debt. But then in some situations like looking at it on paper, I’m like, that makes sense. Yeah. It’s like getting a cabin to pay for the beach. Right takes you a minute to understand that the numbers work.

Katy 29:53
I see I don’t have to actually be no I actually am the type of person that struggles with thinking outside of the box. A lot of tattoos. And that might well wait a minute, it’s not so much that I have to do it this way. You can do them. Okay, here’s a great stat for you. Homeowners are overall more happy than renters homeowners rate their overall happiness at a 7.5 out of 10. Compared to just 6.2 for lease holders, oh, that’s

Alissa 30:28
a d minus.

Katy 30:29
I know, right? Isn’t that funny?

Alissa 30:31
It’s funny. Well, then that means that 65% of Americans are happier. Perfect. 65 per the stats. 65.8% are homeowners. Right? And then 35% are renters. So okay, that’s sort of interesting. Two thirds about our owners homeowners. Oh,

Katy 30:56
here’s some other good ones. I like this. Oh, you know, I love my Google machine. Yeah. Well, owning a home make me happy. Let’s see what Google has to say. Owning a home can give you a nice place to sleep. It can improve your credit rating. Yes. Because that long term credit is your I will tell you I had horrible credit. When I bought my house in 2005. I had horrible credit. They were giving loans to anybody I got a, you know, subprime are like to your arm loan that, you know, I was like, my credit score is terrible. But this is the best I can do. And I’m like, What am I going to do in two years when I’m happy to refinance? Just owning the home? My credit score was so much higher. Yeah, like, over 100 points higher in two years. Yeah, they’re like you can own a home. Here you go. There you go. Here you go. Oh, it also says we could enhance our social status.

Alissa 31:51
Oh, homeowner. Hmm.

Katy 31:55
Okay, interesting. Anything else on your list?

Alissa 31:59
70% of homeowners are over 45 years old. 70% with the average being 56 years old, but the majority are over 45 years old.

Katy 32:10
Yeah. I do worry about the young people. I want them to own a home. I know but they’re just such free spirit. No, that’s not the problem. I want them to to feel the joy of home ownership and we’re trying to keep this upbeat but the reason why they don’t own homes is yes, we’re saddled with student debt. Yeah, you know, problems with the economy trouble getting job like you know, there are other like they just it’s hard to save up the downpayment because they’re paying the student debt. It’s just like this vicious cycle. Homes have become have grown in value so much, which is great if you are a homeowner, but whenever you were just trying to break in. Yeah, you know, get there. Those houses are so expensive. They are

Alissa 32:51
I wish I would have bought a house in college and rented out the rooms. Yeah, I never even literally

Katy 32:57
have a first time buyer right now who’s in an apartment with his roommate. He is buying a house and the roommates coming with him and he’s gonna pay part of the mortgage.

Alissa 33:06
Right? That’s great. All right, we’ll end with a list of other benefits of homeownership, right. Let’s hear him building equity. Absolutely. Tax benefits check builds your credit. Stable payments, no one’s increasing your rent. Oh, good point. Okay. Privacy, you have your own space, tax deductions, building wealth. Okay. I thought this was an interesting perspective to civic participation. You are invested in your neighborhood in your city you it’s hard to leave right you’re kind of there. Yeah. So like you’re probably volunteering trying to keep the neighborhood clean.

Katy 33:45
I report when the streetlight goes out. Yes, these are all things if I was a renter on

Alissa 33:51
you if you were a renter, you’d never call about a weed at the subdivision entrance. Yeah, trouble in the road like a like a pothole. Yeah. Okay. pride of ownership, community involvement, health benefits it that was included in here about how it makes people happier. Freedom of customization and appreciating investment. Yeah, those are the top and then a whole herd of dogs that you get to have all the dogs, whatever you want, whenever you want.

Katy 34:18
All right, those are all really great reasons to be a homeowner.

Alissa 34:20
I think it’s great to be a homeowner. Is it work? Sure, but I just think it’s worth it.

Katy 34:26
Okay, I’m, I’m changing the label of this to May flowers. It’s great to be a homeowner. Perfect. Okay, Marie. It’s great to be a homeowner. Okay, are you ready for the toes? Yeah. Awesome. This toast comes to us from Yvette Griffin. Oh, yay to Connie Kyle.

Alissa 34:45
Oh, perfect.

Katy 34:47
Do you want to tell people who Yvette and Connie are

Alissa 34:50
honey Kyle is my broker over at ladder and bloom and Yvette is an agent in my office and she is a big attendee of the Monday morning Meeting Oh, me. Yeah, so we’ve just become friends. I love it. Okay, well, so he’s very involved in Women’s Council of Realtors love that. So she’s she’s a great leader within the industry for sure. Perfect.

Katy 35:11
Well, here comes a toast from me that to Connie, her bio. Hi,

Speaker 1 35:16
this is a big Griffin and I am toasting from anhand California. But I live in Baton Rouge, Louisiana. And this toast goes out to Connie Powell the most amazing broker. I am attending classes on buyer rep agreement and I couldn’t be more prepared. Thank you so much, Connie Kayo for always equipping us and for bringing this to us two years ago, and for having us ready for this changing environment that’s happening right around us kind of how you are amazing. Thank you Alyssa, for being amazing, amazing example of how to be an awesome agent. Thanks again. Listen. cavion love you much Connie Kyle.

Alissa 35:59
Thank you so much for tuning in to the hustle humbly podcast.

Katy 36:02
If you enjoy this episode, please go to rate this podcast.com/hustle humbly and leave us a review or drop a comment if you’re listening on Spotify. If

Alissa 36:10
you have an episode topic or someone you’d like to toast on the show, please email us at team at hustle humbly podcast.com

Katy 36:17
Find us on social media at hustle humbly podcast don’t forget to find all of the free resources at hustle humbly podcast.com/resources See you next week.

Alissa 36:30
This is the lie