The Real Estate Journey

/ Real Estate / By

The Real Estate Journey

The road to homeownership may seem overwhelming but when you take it step by step, you’ll soon reach your destination – your dream home!

Your First Home

  • Set up a designated down payment savings account.
  • Pay down credit card and other debt.
  • Look into first-time homebuyer programs.

This is an image of a couple sitting on the floor in front of a couch holding up a small chalkboard that says Our First Home.

 

 

 

 

 

Need More Space

  • Make bigger (or additional) mortgage payments.
  • Refinance and shorten your mortgage loan term.
  • Reduce expenses to save money.

This is an image of a small house on the left and a ladder leading to a bigger house on the right. There is a piggy bank in the middle of the houses.

 

 

 

 

 

Time to downsize 

(or invest in property)

  • Talk to your financial professional about tapping into your home’s equity.
  • Think about the type of home and community you want to live in.
  • Start organizing now.

This is an image of the words Home Equity Mortgages written on a glass wall.

 

 

 

 

 

Journey Essentials:

  1. Good credit and low consumer debt.
  2. A professional agent in your corner.
  3. A positive attitude – don’t give up!

The Road Ahead

Homeownership provides stability, security and the freedom to make the space your own. It also offers financial advantages – not only will you get tax benefits, building equity in your home is like a ready-made savings plan.

This is an image of a women in a car pulled over on the side of the road, holding a map out the window with a view of mountains in the distance.

 

 

 

 

 

  • Home prices have increased 971% since 1967
  • Homeowners have 40x the net worth of renters
  • Average homeowner equity is $299K
  • 39% of homeowners own their home free and clear
  • Over 46% of mortgaged residences have equity of at least 50%

With home prices rising, consider buying now and refinancing later. Discussing with a financial professional is always a good idea.

If you or someone you know is considering a move, feel free to contact me with any questions. I’m here to offer clear, concise informati0n you can trust. I also belong to a network of top real estate professionals, and I can connect you to one wherever you’re looking to go.

For a printable copy of this newsletter, click here.

Sources: 1. bankrate.com/home-equity/homeowner-equity-data-and-statistics 2. In2013dollars.com/Housing/price-inflation 3. axlos.com/2023/12/12/mortgage-free-homes 4. Fred.stlouisfed.org 5. Keeping Current Matters 6. Icemortgagetechnology.com/resources/data-reports/february-2024-mortgage-monitor

 

 

 

Scroll to Top