One of the most common reasons I hear from people that rent is that they can't "afford" to buy. Let me dive into this little deeper. Most of us live somewhere. Meaning somewhere where you get housing in exchange for your heard earned money.
Most of us are blessed with few extras in life which means you have spare money dedicated to life's fun.
Yes I'm talking about your $5-7 Starbucks coffee or $10-20 lunch at work, that sweater you already have in some version in your closet or movie that you can see in couple of months on Netflix...
The truth of "I can't afford it" is that you are already paying mortgage, it is just not your own!
Reviewing in detail your income vs your spending habits will allow you to find a lot of extra. A little sacrifices have to be made, I will not argue with you however the end result and product brings you so much more than just a home.
I regret I bout this home in the past 10 years said nobody that I know at least...
Appreciation, certainty and tax savings return the money you think you are saving by renting in no time.
Important thing to consider is that If you’ve been a lifelong renter, you will always have a housing payment, but if you buy a home…one day you won't have a monthly housing payment. Unlike renting, you will eventually pay off your mortgage and your monthly payments will be funding other (possibly more fun) things.”
As a homeowner, someday you can eliminate the monthly payment you make on your house. That’s a huge win and a big factor in how homeownership can drive stability and savings in your life. As soon as you buy a home, your monthly housing costs will begin to work for you as forced savings, coming in the form of equity. As you build equity and grow your net worth, you can continue to reinvest those savings into your future, maybe even by buying that next dream home. The possibilities are truly endless.
The key part is to save up for your closing costs. When it comes to the loan there are options for as low as 3% down payment of the purchase price so with some diligence and strong will you can achieve homeownership as long as you work on to improve or maintain good credit score. If you don't know where to start, consultation with a skilled loan officer is free and it can be done in a rough draft over the phone in 10 minutes so there is no reason not to inform yourself. No, you do not have to give them your social security number ...it is literally consultation that will make you aware of your next step, explain your options and give you best game plan.
Remember you as a home buyer don't have to pay me as your real estate professional. There is no cost to investigating how much or if you can afford to buy a home at this point in your life.
All costs are clearly outlined during your purchase process. Home buying process is very transparent and every fee and every cost to you will be disclosed prior to your committment so you can comfortably decide...
So why not? Let go of that myth. Even if it's not the dream home you may be able to affor right now, it will be a home that will one day become your anchor and allow you to step up, save you money and bring all the benefits of home ownership at the end saving you the money you never even knew you had.
If you don't, one day you will look back and count the money you paid in rent and realize you have actually bought a home, sometimes 2 or 3,depending on your age and area, without anything to show for it.
So that's it. From my heart to yours, something to think about. Let me know how I can help you on this amazing journey! It truly is worth it. #Mauihomes #buyhomeonMaui #SellHomeinMaui#CondosonMaui #NewConstructionMaui #You #Home #save #StopRenting #letsTalk #maui