How many of us have said this;
When conditions are perfect I will....(fill in the blank). This can be anything from taking that dream vacation, buying that dream car, getting the dream job, or buying a house. "IF ONLY" the conditions were perfect, if they were right, then I would "_________." This expands to everything else. We try to make things and life "perfect" for our kids because we only want the best for them.
There comes a point in time when you just have to move forward and realize that rarely are conditions "PERFECT" for anything. This is life we live in, and it's to be enjoyed, and lived. In a continuous process, we learn in school, about life, and we grow. As we learn more, and expand our awareness, we continue to learn how to go after the things we want most (hopefully!).
Want to take that dream vacation? Why not start doing the research to see how much it would cost? Believe it or not, instead of putting that dream vacation on a credit card, you can put it on layaway, and make payments if you can't afford it now. Or maybe take shorter smaller vacations that don't cost as much. There are SO many discounts out there where you can get a vacation on a budget.
As for having a better family life, and wanting the best for your kids. They don't necessarily want (or NEED) more THINGS, they want mom and dad to "be there." When I retired from the Air Force, everyone asked my then 5-year old son what he was looking forward to most once I retired. His answer "Eating waffles for breakfast every day!"
So what about buying that PERFECT HOUSE with the PERFECT conditions, and the PERFECT picket fence, and the PERFECT price with the PERFECT interest rate? In my opinion, the PERFECT time to buy a home was about 50 years ago. They were a LOT cheaper then. Except I wasn't alive 50 years ago. I didn't NEED a house. :-) Wouldn't it be great to make today's income, but pay house prices of 50 years ago?!
Realistically, conditions now are ripe for buying a house. For the first time home buyer, there's an $8,000 First Time Home Buyer IRS Tax credit (money in your pocket to buy a home!?), PLUS low interest rates (do you know that in the 1980's--when I was alive and could buy, but didn't, interest rates were in the double digits?)
Most people purchase a home based on the payment they can afford; not the home they can afford. I once worked for a mortgage broker who said price doesn't sell a house, the payment sells a house. I realized how right he was. Watch this:
The payment on a $250,000 house, financed at 100% (I work mostly with VA--one of the few 100% financing programs currently available), for 30 years; These are PRINCIPAL ONLY payments (Taxes and Insurance are usually included in your monthly payment at 1/12th the annual premium for each).
Percentage/Monthly Payment
5.00 $1,342.05
6.00 $1,498.88
7.00 $1,663.26
10.00 $2,193.92
WOW! What a difference a few interest rate points can make!
For many real estate markets, prices are now on the rise--albeit MUCH slower than during the "boom" and interest rates are currenlty low. What better time is there? (hint: 50 years ago!)
Not sure if you qualify? Then call or go talk to a lender. Not sure where to find one? Contact me, and I can send you a list of lenders I work with that are there to help you. They are not there to "judge" you if your credit is not perfect, nor will they laugh at your situation that you feel may be less than perfect. If you know you need to work on your credit, then take the time to do it. It's a pay-off in the long run. Situations happen (that's life again!), and as with everything, circumstances do change.
Believe it or not, it is in YOUR power how you handle YOUR situation and what you choose to do with it.
Have questions?
Give me a call or email!
Until next time...
Valerie Sullivan
Owner/Broker
Sullivan Enterprises, LLC
850-803-8446
www.ValerieSullivan.com
Valerie@ValerieSullivan.net
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