CNBC Television
@CNBCtelevision·3.4M subscribers·157.5K videos
Barbara Corcoran: When And How To Buy Your First Home
Posted
January 6, 2019
Views
47,187
Likes
934
Comments
58
Engagement
2.10%
January 6, 2019
47,187
934
58
2.10%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
2:12Now Playing"You've got to get in the game" and buy your first home early, says self-made millionaire Barbara Corcoran, who made her fortune in real estate.
» Subscribe to CNBC Make It.
Corcoran has regrets about how and when she got started. “When I bought my first studio in New York City, I got cold feet and didn’t close and relinquished a 10 percent deposit which took me three years to save,” she says. “And you want to know what happened? I couldn’t get back into the market for almost eight years.”
That meant that “by the time I had the money for a one-bedroom, it only bought a studio, and it just went on and on and on and left me behind,” she continues. “What I learned from that experience is: The minute you can afford something, plunk the money down and get in there.”
If you’re excited and in good shape to buy, Corcoran says these are the five steps to take.
1. Check your credit score
2. Figure out what you can afford
3. Budget for closing costs
4. Shop in the right area
5. Get pre-approved for a mortgage
Read more of her tips here
About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and money.
Connect with CNBC Make It. Online
Get the latest updates
Find CNBC Make It. on Facebook
Find CNBC Make It. on Twitter
Find CNBC Make It. on Instagram
Find CNBC Make It. on LinkedIn
#CNBC
#CNBCMakeIt
#YourFirstHome
Barbara Corcoran: Here’s when to buy your first home—and how to do it | CNBC Make It.
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
