Why You Should ‘Marry the House and Date the Rate,’ According to Ryan Serhant
Written by
Chris Adam
Edited by
Daria Uhlig
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
If you’ve listened to Ryan Serhant, a real estate expert and reality star, you know he’s not one to mince words. That’s why his advice about marrying the house might be one to listen to if you’re in the market for a new home.
Serhant recently told Realtor.com, “You have to understand that it’s OK to marry the house and date the rate.”
Sure his words are catchy — But he also has some wisdom to share with those shopping for a house.
Serhant said now is still a good time to buy, even with mortgage rates — which, according to Freddie Mac, averaged 6.95% the week of July 3 — keeping monthly mortgage payments high. His thinking is that you make a commitment to the house when you purchase it, but your payment can change over time.
“If you find a house you really like, let alone love, figure out how to make it happen, and you will live into it,” Serhant said.
In an interview with CNBC Make It, Serhant said that he believes buyers are gaining an edge. Mortgage rates are down from their peak of 7.79% last October and could continue to fall, but Serhant warned against trying to time the market.
“Buyers are always thinking the market’s falling, or they always think the market’s going straight up,” he noted in the Realtor.com interview. “If you try to time the market, you will get hurt because you’re either going to pay too much out of exasperation later on, or you’re not going to spend enough out of fear, and you’re going to have to move much sooner.”
Serhant also encouraged sellers to jump off the fence, telling CNBC Make It that they’re “feeling less locked” now than over the last two years.
According to Serhant, this year’s market “might be one of the most robust real estate markets that I’ve ever seen.”
Serhant went on to say that owning real estate is a wonderful way to achieve generational wealth.
“You have ownership of your deed, and if you can carry the monthly, then I think there’s really no better surefire way to build a great investment portfolio,” he said.
The trick is to hold onto your home for the long term. In a 2023 interview on “The Hard Way With Joe De Sena” cited by CNBC Make it, Serhant said you have to be smart about what you’re buying — otherwise, owning real estate “can also lose you an insane amount of money.”
More From GOBankingRates
