Who Is Buying A House with 7% Interest Rates?! | Ep. 017

The DIY Homebuyer Podcast

With mortgage rates hovering around 7%, I break down exactly who should (and shouldn't) buy a house right now. Using real numbers, I show you why a $400,000 home could cost $500,000 in interest alone - but why that might still be okay for some buyers. 🏠 In this episode of DIY Homebuyer Academy, we're tackling the tough question many buyers face: Is it crazy to buy when rates are this high? What You'll Learn: – Two mindsets: Investment vs. Primary Residence – Why house hacking might be your best option – The truth about building equity at 7% rates – When paying high interest makes sense – How to calculate what you can actually afford – Why some people should keep renting – Long-term perspective on market cycles Moving beyond the "wait for rates to drop" mindset, I provide a framework for making this major decision based on your unique situation, values, and timeline - not just the interest rate. Perfect for: – Buyers questioning current market conditions – Families weighing renting vs. buying – Investors considering house hacking – Anyone unsure about timing their purchase 🤝 Join Our FREE DIY Homebuyer Community! Want to avoid these issues entirely? Join our FREE Skool community: 👉 https://skool.com/diyhomebuyer In our community, you'll get: – Access to our FREE DIY Home Buying Essentials course – Our complete library of homebuying resources – Direct connection with other DIY homebuyers – Regular Q&As and live sessions Additional Resources 📘 Download "5 Strategies to Save You $5k+ On Your Next Home": https://diyhomebuyeracademy.kit.com/2694bd687c Connect With DIY Homebuyer Academy Join our growing community: 🌐 Website: https://diyhomebuyeracademy.com 📧 Newsletter: https://diyhomebuyeracademy.kit.com/ 📱 Social Media: • TikTok: @diyhomebuyer • Instagram: @diy_homebuyer • Facebook: @diy_homebuyer • X: @diyhomebuyer • YouTube: @diyhomebuyer Legal Disclaimer This content is for educational purposes only and does not constitute financial or legal advice. Always consult with qualified professionals before making any real estate decisions. #MortgageRates #RealEstate #HomeBuying #HouseHacking #RealEstateInvesting MEMORABLE QUOTES: "Debt is a means of buying time - you're paying a premium to have something now rather than waiting years to save for it." "Those losses are unrealized. The only way that the loss of equity is realized is if you go to sell your house." "Don't count on building any rapid equity in those first five years."