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Buying a Home: The Basics (Ep. 2)

Thomas has been spending a bit of time this year researching, preparing for, and working to buy a house. Naturally, he’s learned a few things about the process, so we decided to talk about it.

When should you buy a house? Why not rent forever? How do you decide how much you’re willing to spend?

We’ll talk about these things and several more, so we can all spend a bit more time planning for or fantasizing about home ownership.

Things mentioned in this episode:

This week’s episode is sponsored by:

  • Skillshare: With thousands of courses in a wide range of different skills, Skillshare can help you take things to the next level. You can also get started with 2 free months of unlimited learning (including Thomas’ new Habit-Building class!) at
  • Brilliant: Accelerate your learning in math, science, and computer science. Start learning for free at — and if you’re one of the first 200 people to use this link, you’ll also get 20% off your subscription.

Other things we mentioned in this episode:

Want more cool stuff? You can find all sorts of great tools at my Resources page.


  • 0:00:00 – Intro
  • 0:03:31 – Deciding if you should buy a house right now
  • 0:13:28 – Figuring out the types of debt you should pay off first
  • 0:20:02 – Having low credit
  • 0:21:04 – Choosing the type of house
  • 0:23:53 – Figuring out your budget
  • 0:27:31 – Down payments
  • 0:34:49 – Sponsor: Skillshare (Learning new skills)
  • 0:37:17 – Sponsor: Brilliant (Learning problem-solving skills)
  • 0:39:16 – Down payments (continued)
  • 0:52:47 – Home mortgages
  • 1:01:10 – Monthly payments and closing costs
  • 1:07:08 – Finding a house
  • 1:20:34 – Getting pre-qualified or pre-approved
  • 1:24:37 – Why buy instead of just continuing to rent
  • 1:31:15 – Saving for the long term vs for down payment
  • 1:33:05 – When to stop accelerating loan payments
  • 1:36:30 – Conclusion

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