Procrastination Is The Province of The Poor!

Procrastination Is The Province
Of The Poor!

I may not know why you are personally delaying owning a home of your own, but I do know why many of our clients have delayed reaching their dream.

Some of those reasons may apply to you:

Maybe you're waiting for a "Better Interest Rate."

If you're sitting there now waiting for a better interest rate, let me give you some historical perspective.

Doug bought his first home in 1976.  Actually, he bought the house from his own building company.  He bought the house with a 30-year fixed rate loan at 8 1/2 %.

Did you hear what I said? 8 1/2 % and he thought he was getting a great deal at the time.

As of right now today, 30-year, fixed rates are at least 2 to 2 1/2 percent below what Doug paid over 27 years ago.

If your excuse not moving forward is that you are waiting for rates to get back to what they were a few months ago - you're wasting your time, and wasting your future.

Besides, if interest rates get better, six months, a year to a year and a half from now, we offer you a no-cost refinance option, which allows you to refinance at the lower rate at no cost to you.

So you actually have nothing to lose - and no excuse.

Maybe you're waiting to "Get Your Credit Cleaned Up."

When it comes to straightening out credit you really have only two options:

You can do-it-yourself or

You turn it over to a pro. 

The problem when most people try to clean up their credit is they simply do not know how.

Aren't you better off relying on the expertise and knowledge of a company that has been helping their clients for over 10 years work out their credit problems so they can qualify rather than wasting time trying to do it yourself?

Remember, the folks we work with are professionals at helping you with credit issue, AND if you are a client of Home Ownership Resource Center and our Local Realty Partners, we reimburse you up to $500 toward your expenses in getting your credit restored to the point were you can own a home of your own.

Maybe you're waiting for some "Arbitrary Future Event."

We also have had clients who are waiting on a raise, or for Great Aunt Gertrude to pass on so they can inherit, or some other arbitrary event, hoping that future event will help them qualify for more home.

My advice to you is to buy a house that you can afford now. 
 
Stop paying rent and start building equity. 

Stop making your landlord rich and start growing your own financial future.

Start getting the tax advantages of homeownership now. 

If you going to have to wait a year or two to get the home of your dreams, aren't you better off at least waiting in a home of your own?

Aren't you better off owning a home while you are waiting for your situation to get better?

I have a friend whom we've helped own five houses in the last seven years. 

We first helped him find a home he could afford about 8 years ago. We helped him purchase the home. He moved in, did some minor sprucing up and put it back on the market for more money within 9 months. 

When that house sold, he took the increased equity from the first home and bought another.  He has repeated that process four times in seven years.

His first home was a two-bedroom, one and a half bath cracker box.  He was only there nine months and moved. 

He now lives in a four-bedroom, 3 1/2 baths, two-story.  And, because he used the increased equity every time to move up, his current house payment is now lower than his first house payment when he started out seven years ago. 

Naturally, the lower interest rates have helped keep his payment low, but mostly it has been his willingness to move.

Granted, moving 5 times in 7 years is not for everyone.

It's kind of funny... I was telling this story to a couple a few weeks ago, and they told me very adamantly they did not want to have to move every few years.  They want a home of their own and stay there forever. 

The funny thing was, as I was looking over their rental payment history, they had lived in five apartments and less than three years.

A similar situation is people who are waiting "for a better loan program."

Even if you can't qualify for the loan program you would like right now, in most cases, you are better off taking even a higher interest rate and buying a home now.

Home prices are doing nothing but going up year after year after year.  Waiting say, even just one year for a better interest rate, could cost you more than paying a higher interest right now.