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Showing posts with label home ownership. Show all posts
Showing posts with label home ownership. Show all posts
Extra Home Costs
Yes, there are "extra" home costs that one needs to consider. But don't let that scare you as there are offsetting benefits too. We'll be posting more on that shortly. Come back soon.
Millennial Mythbuster
A famous Henry Ford quote - something like: “Whether you think you can, or you think you can't – you're right.”
Homeownership is still the American Dream. The choice of paying your landlord's mortgage or your own is yours. You are the most educated generation and at the beginning of the adventure. Live it. Prove the naysayers wrong. Let's find a way to get you in a home of your own. We partner with mortgage specialist who can help make that happen. If you really want to do this - let's do it.
This is an original blog post of April 1st, 2019. But, by no means is it an April fools joke! It is real. You can do this.
A Message For 46 Million Millennials
The experts have crunched the numbers and the forecast is millions of potential first time buyers. Will you be one of them? Have a look at today's report for a brief explanation of how those stats are calculated.
If you have not already downloaded our special Millennial's Guide to Homeownership, why not do that now. The information is so important we want to share it with all - feel free to pass it on to your friends. There is a link in the rightmost column of this blog - or you can access the link directly. Both require registration - but we have also made it available for a direct download - same great guide - your choice of English or Spanish. Contact me if I can be of help to you - no matter where you live - we have a well connected agent referral network.
6 Reasons to Own a Home
In a very short video we share with you 6 reasons we encourage you to buy and own a home of your own.
Why Buy
For most of us, the American Dream was a goal to work and save for. It still is.
However, something has changed. In many areas, it is actually more affordable to own than it is to rent – have a look at the report linked to this article.
So consider something…. If you buy now and get a fixed rate mortgage, you are protecting yourself from the inevitable rent increases and increases in the cost of buying a home. Let’s do that again. Prices for homes will go up. Rent will go up. Buy the house now, lock in your payment (PI) and you avoid rent increases of the future. You also increase your wealth as your equity in your home increases and your home appreciates. Seems like a good business decision – and a good personal one too!
So, what holds people back from buying? A couple of absolute MYTHS actually.
Do you need a 780 credit score – NO. Do you need 20% down – NO.
There are all kinds of opportunities out there. If you truly want to be an owner and are motivated to be a homeowner – start the process – investigate what is out there for you. Waiting costs you money. Waiting is lost opportunity. Waiting may keep it from ever happening – I know people who have fallen into that trap.
There is no doubt that our future leaders – the millennials – are better educated than any generation before them. They have come of age and are buying.
There are reasons they are buying and there is much to consider. They are looking for control of their living space and a nicer environment. They are looking for security, flexibility, and more. They are looking to have more control over their own destiny. They are beginning to lead!
Actually, the past few years have seen some very negative views about the millennial generation. Nevertheless, give them credit – they are saving, they are budgeting and they are investing. They are preparing for their future and the leadership role they will assume – as each succeeding generation does.
Hopefully, millennials do not lose sight that they can learn from the experience of the older generation and hopefully, the older generation will not lose sight of there is something new to be learned every day!
Often we look at homeownership from an investment perspective. We look at the “forced savings’ concept, the locking in of a monthly payment rather than imminent rent increases and the tax savings – but there is more to it. Homeownership has many other benefits.
Homeownership has an impact on education, community involvement, health and freedom. There is a reason it is so often referred to as the American Dream – try it!
Besides the myths mentioned above, there are folks out there who are simply uncomfortable taking on a mortgage. But the thing is, unless you are living rent-free with family or friends, you ARE paying a mortgage – maybe not yours, but nevertheless a mortgage. Moreover, the person who has that mortgage is getting the benefits and the increased wealth.
Renting on a temporary basis is not bad – I am right now after XX years (I am not telling!) – but there are compelling reasons to be an OWNER. That does not mean you are destined to own a mansion – but you can own something that is affordable. Act on it!
It has been pretty much the tradition that marriage comes first and then the mortgage.
Last year, 57% of first time buyers were married couples. Yet, there is a significant number of unmarried buying for the first time – 16% of first time buyers is impressive!
Singles make up most of the rest of the first time group. It is all personal choice – whatever is right for you as a couple or a single. It gets back to the compelling reasons to buy – and invest in the future.
We have been so lucky that the buying opportunity has lasted this long. Nothing is forever.
Consider that home prices are going up. Interest rates have been moving higher. Both will probably continue.
So waiting until you have more money to put down is going to cost you and it likely will cost you more than you can save up! Think about that one. Saving at a loss – yikes!
Where are mortgage interest rates going? No clue actually. However, the trend is UP. Historically – rates are low and I believe they will continue to go UP. Examine the details in the article associated with this post. See what you think. My money is on UP!
Of course, I am going to suggest that you work with an expert when you buy a home. That is what I do. It is also why I have secured all the credentials and continue to do so.
When sick, we go to a doctor. When we have legal issues, we go to a lawyer. When going on a safari, we look to a guide. You did not expect that last comparison – did you?
Well, I am here to be your guide on a safari to homeownership. When do we leave?
Are you single and renting?
Singles Are Falling for Their Dream Home! About a fourth of all recent buyers are single. The number one reason is they just wanted to own their own home. There are many other reasons and, of course, tax savings is one of them. It makes a lot of sense to hang on to or improve wealth - same story, why pay someone else's mortgage when you can pay your own. Whether you are a beginning single or returning to singledom, ownership offers many advantages. Have a look at today's article for more about singles and homeownership. I would be glad to help you find your new home
San Antonio Cost of Not Owning
Do You Know the Cost of NOT Owning Your Home? Many of us who grew up in a rental were lead to believe that the folks owning their home were rich and that owning a home was too expensive - way more expensive than just renting. Have you heard that before? It was interesting hearing the discussions within my extended family - one side being home owners and the other committed renters! I joined ranks with the owners side long before I got into real estate as an agent - even long before I got into real estate as an investor. Today, everything has turned around. It is cheaper to be a home owner. Renters are paying higher costs and can look forward to paying more rent. Owners have the option to look at a fixed term - and someday, no more mortgage payments. Owners also look forward to enjoying their increased wealth. And all the time that is going on behind the scene, owners are enjoying their OWN property and all the benefits that come with it. Hope you will take two minutes and have a look at today's article. And, then - are you ready
Owning a Home Could Help
Tax Return Depressing? Owning a Home Could Help... There are many reasons to buy a home and while one of them could be for tax purposes, there are lots more that may fit your needs and goals. Some of the possibilities have been reviewed in this blog. The tax benefits are "frosting on the cake" that could be considered an extra incentive and the key to affordability that helps rationalize the decision to purchase. The deductions for interest and property tax can mean huge savings on your tax bill that provides more money to make mortgage payments, money to save for the future or even some special purpose goals of your own. I was in my very early 20's when I bought the first home. It was nothing fancy - actually, my father was not happy with me at all. But 13 years later I sold it for more than twice what I paid for it (with some upgrades of course). The bottom line is you need to live somewhere - why not live in your own home and shelter yourself from some of the tax you would otherwise pay. It works - it really works! Read more in today's article - it is a "savings plan" seriously worth your time
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