Have you heard this statement? Maybe on the TV? Maybe on the radio? Maybe from family or friends?

You deserve that new house!!

You deserve that new truck!!

You deserve that new phone!!

I absolutely HATE that word, DESERVE. I want to tell you a reality. YOU DESERVE WHAT YOU CAN AFFORD!! Our culture tells us do whatever makes us feel good. And you should do whatever it takes to feel good. Even if that means going into debt to get that feel good experience. It took me 40 years and losing a house to learn that lesson. I had an old friend tell me once, Do not let your WANTs become more than your NEEDs.

Now how does this relate to real estate? Well, if you want to move out of your parent’s home, out of that apartment, upsize or downsize your current property, you need start preparing yourself to buy a home.

• Come up with a strategy. Sit down with your partner (if you have one) and decide on a plan. How much of a down payment can you afford and how long will it take to come up with that money. And do not forget to save a little money for closing cost, earnest month, etc.
• Check your credit score. If you want a quick glimpse to your credit score, go to Kredit Karma website and signup. Also, get your free annual credit report. Look for negative entries. Work on cleaning up your credit, if needed.
• Get started now!! Doing item 1 and 2 only cost you time. It is never too early to get started. Get your plan in action. Work on cleaning up that credit. Start saving that money.
• Find an agent you can work with. If you are buying a new home, most of the time the buyer agent’s commission comes from the seller. An agent will help you navigate the process. Please do not discount the value of have a good agent. If you are wanting to sell, have an agent navigate the process.

I hope my thoughts can help someone. Good luck with your journey.

To rent or to buy is one of the biggest questions prospective first-time homebuyers ask themselves. Renting might feel like you are constantly paying your landlord’s bills with nothing to show for yourself while owning a home sounds like a daunting challenge that feels too out of reach. We all have concerns about doing the right thing for ourselves and our families when considering spending a large amount of money, whether that be on rent or a mortgage. To truly understand what is the right choice for you, let’s consider some of the pros and cons of each! “Renting is just throwing your money away” If you’re paying your mortgage to the bank or paying rent to your landlord, there is no escaping the fact that you will have a monthly payment to live in a home. Homeownership DOES often come with a smaller monthly cost than most rental payments, although some costs come with owning a home that you often overlook while renting. Homeowners have to pay property taxes, utilities, homeowners insurance, and keep up with home repairs. You also have to take into consideration lawn maintenance, fuel costs, and general upkeep costs. If you rent the money you pay to your landlord generally covers what they put into the home to care for these needs. When you’re a homeowner you assume the monthly payment in addition to all of these added fees. “Is renting cheaper in the long run?” While it’s true that when you’re renting a property you don’t have to pay the added expenses of maintenance like roof repairs, new heating system, etc, consider that your rent may fluctuate in price over time. Your monthly mortgage payment is locked in place the day you buy your home. Rents can change as the market changes or if your landlord sells your building. Recently we have all seen that rents sometimes rise faster than we can pay for them, often most renters working multiple jobs. Statistically, it does seem that it is cheaper, in the long run, to own a home due to sustainability and the certainty of your monthly payments.