Homeownership Doesn't Have To Be Hard. Read These 6 Tips!

POSTED BY REALTOR IN

 

 

 

YOU COULD BE A HOMEOWNER!

What is the first thing that comes to your mind whenever you hear of Homeownership? 

Owning a house or planning to buy a house is a kind of matter we must continue looking at. People are usually anxious about having their own home as a goal. Fear is essential in our lives but we have to overcome it. One of the best ways to lessen this fear is by following discipline-oriented steps and procedures that will surely lead you to a more productive and effective exploration of homeownership.

But first, where should we start doing the learning and exploration process? The internet is as vast as the people in this world, so the resources and materials you can see as helpful and manageable. 

It is a must to know your WHY first. 

We may hear some people speaking that to be successful in life, knowing wholeheartedly your WHY will motivate you and propel your actions and plans in grand reality.

This is somehow a no-brainer start whenever we are entering a new passion, business, or habits we want to develop. In-home buying, fundamentals, and starting knowledge shall devour you so that you can let yourself go easily with the flow and be consumed by it. 

Generally speaking, how come homeownership is basically a trend today? What has gotten people to suddenly study and learn the process of it?

It’s because homeownership is encouraged and acknowledged by the government to continue spreading the influence it brings not just to individual lives, but also to the improvement of society. Homeownership is truly beneficial for individual households which gives many impressions of earning and emphasizes working on your own.  

Indeed, looking through the process of purchasing a home may seem complex and hard but as life goes on, humans are capable of doing what they are curious about if the proper pursuit of learning and knowledge comes together.

We just need to continue our research and build our plan or design the outcome we want. Here are 6 ways you MUST-READ to fall in love with homeownership. 

      1. Homeownership provides comfort, stability, and security. 

Buying a home is a good investment to start with. Not just the internal usage of it is significant, but also for the perspective of selling or starting your real estate journey.  

Other than stocks, bonds, gold, and other options of investment topping the market, real estate helps you build equity and forces your savings to increase and widen your net worth. 

Especially now, COVID-19 mostly hits and probably affects the market and shakes the security of every household. Stepping up into some sort of investment will surely prepare you from any uncertainties and keep your hard-earned money growing safe and stable. 

       2. The Rising of Home Equity mirrors your Wealth

In addition, this boost to your wealth comes in the form of equity. Equity is the value of a piece of property after any debts that remain to be paid are subtracted. In today’s real estate market, low housing supply and high buyer demand are proving a chance for home values to go up.

That is why homeowners point out a significant equity boost no matter what they are doing at the moment and let their equity increase little by little. 

Opportunities are high at the moment where COVID-19 breakthroughs open up new ways of earning from an investment. 

       3. Physical and emotionally invested 

Admit it or not, homeownership is a crucial part of the American dream especially for those people who already owned a home. 

You may find yourself asking ‘On what part, homeownership is a huge American dream? How come it is one of those grandeur dreams until now?’

It is considered to be essential for every American to own a home that merely conveys several economic benefits, availability to expand wealth, and reduce the housing cost through the mortgage interest deduction. In addition, this gain gives a credible advantage for every challenge every American can face on a long-term basis.  

Equipping oneself about homeownership is hard at first glance but nothing is pure work and better when you are building the foundation needed in this journey. 

This portion of real estate can truly consume a great proportion of your life, thus, you have to know how much investment YOU are about to put in there, not just financially but also emotionally invested for the sake of long-term stability. 

Homeownership is not just a trend for nothing. It fundamentally helped a lot of people and their households to gain their net worth accordingly. This legacy must be passed down from generation to generation and it is not impossible to start with YOU!

       4. Investing Pays and Gain for your Future

One of the basic reasons why homeownership gains so much more intensity than rental business is that it has the financial power of equity. 

When you are already a homeowner, your monthly mortgage or mortgage payment becomes your ‘forced savings’ or unexpected source of income where you can easily canvass and search through what business or investment streams it is best to enter. Whether it is funding for your loved ones’ education, funding your cousin’s business, or even better to start your business right away. 

It is also YOU who are gaining the landlord’s equity if you are the homeowner rather than keeping yourself to be an indefinite renter. 

After basic planning and saving, it’s time to let your monthly payments work for you and take the steps forward to those dreams and goals you have for yourself or your family. 

Who knows, homeownership might be the best option suited for YOU as the rental prices go up and high numbers of buyers go in demand. 

        5. Having a strong sense of customization 

One of the biggest advantages we can easily recognize when you own a house is the part of customization. You can easily change the color of the walls, the floor design, or even add a new essential part of the house according to the design you want or the desires of your heart. No one can hinder you or put some restrictions on your wants. 

For it is your home you manage and take care of for the new journey you are beginning with. 

It is a distinct talent or skill for one individual to discover the beauty of homeownership in this part which can easily show that he/she probably loves design and customizing or mixing things up. 

But still, he/she must be always reminded to customize at best without reducing the value of the resale of the house. It is still a priority to offer its best state when it is generously kept and given reproducible protection for the future. 

          6. Pride sustained by ownership

Reminisce the feeling when you achieve something big in your life. As if you finally reach the star or the biggest moment to one of your wildest dreams. An unbelievable yet magical feeling. 

Many people see the advantageous side of homeownership to be the biggest pride of achievement to be offered by the universe in life. It is a kind of feeling where your hard work has an equivalent reward, a feeling where your thoughts and actions finally have a balanced harmony with the biggest break opportunity you ever received. 

Most likely, we did not see homeownership as rewarding enough. But practically speaking, homeownership does not simply increase your net worth. It also expands the stability and security it may bring to your family. You can use the home itself whenever you want and spend time with your loved ones on its highest and best quality status.

There is no doubt that homeownership is one of the American dreams of many citizens in this country for this kind of stability is not just a major variable in our lives but also to the growing future of our family. 

Some people are already familiar with homeownership. Some are not. But this investment was not built or created just for the sake of entertainment, simple advertisement of houses, or to be equally known by the public. It is made for people who want to gain trust while building the wealth they dreamt of when they are young. It is built for YOU to enter this course and START YOUR JOURNEY RIGHT AWAY! 

 

CONTACT DETAILS: 

Realtor Mehrooz

License # S.0181857LCC

+1 702-493-8366

realtormehrooz@gmail.com

 

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What can the Homebuying industry teach you: Know your financial status!

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Photo by micheile dot com on Unsplash 

Have you ever noticed that financial status has become a big deal when it is making any sound for the medium or long term future?

As COVID-19 prevails, the current economic system seems to be working out together to avoid the financial crisis in every possible way. Enormous crises that occur in society and various sides of recession will fall into much anger and resentment toward the market. 

Organizations or administrations that are responsible for this crisis may experience the possible expansion of frustration and confusion. Other than the difficult kind of situation it may offer, it also became less helpful to safeguard society against financial fragility. 

Knowing the uncertain financial stability in the market, is it still possible that Cash can be a helpful tool to reach a better home buying experience?

It is indeed a need that when you are trying to buy a home, you have to make sure you can afford it at all costs. But in what ways do cash and homebuying have something in common? 

Cash is the main character in every battle that holds secured places and power. Being an individual who has the cash can bring you so much kind of comfort and stability in every phase of life in this world. Competition is high in every investment market but having a great hold of this power will let you talk about something to the next level. 

Maybe new and popular for some but home buying isn’t famously known for nothing. It has popularly made its way for its own name as an effective venture to let your investment money grow on its own and prove a huge manifestation in everyone’s life. 

Paying cash for a home buying plan will give a beneficial cause for you and also in the market. But many things shall be carefully considered at all cost. Potential downsides, risks, asset loss, losing leverage provided by the mortgage, and having uncertain liquidity. 

Because of these uncertain happenings that may occur in the future, emergency funds are strictly proven and recommended before finally entering a home-buying procedure. 

Some losses are remarkably difficult to deal with. Thus, here are some tips on how you make yourself debt-free and manage your emergency fund properly. 

       1. Simply manage your paycheck from time to time. 

It is hard to acknowledge money from the paycheck you really desire to have as soon as possible but we have to face this difficulty in order to move forward. Putting aside 15 percent of your paycheck will help you minimize the debt you had before. Yes, it is small but it still depends on your monthly paycheck and how you manage your daily lifestyle. Minimal payments mean you are slowly making progress to make yourself finally debt-free. But that doesn’t mean, we discourage you to pay a big chunk of the amount to pay your debt. It all depends on you, your financial planning, and your capability. 

       2. Savings as a backup helper to pay your debts

While growing up, it is in human nature to learn the principle of saving whether it is time or money. It is a smart move as you can actually feel and see the stability you deserve. Although it is best to experience with, it is still understandable that we use the savings money we hold dearly to pay for our debts. 

How come? 

The money you keep from your bank accounts will help you grow your net worth but it is nothing compared to the debts that have an increasing interest day by day. Thus, it is a wise and practical way to better pay those debts accordingly.

Just like an investment, do not go all in to pay your debts. Using some sources of funds or income to join forces with your savings is also a good option to eliminate the bills and debts you have. 

       3. Letting go of your items for cash

One of the adjustments you might want to try on is selling the items you dearly love for cash. Posting them on eBay, Craigslist, or at a garage sale can help you earn extra cash to pay your bills. In addition, it is advisable to do especially when you want to minimize the usage and bills payments in your household. 

Make some adjustments to your payables, bills payments, and set your living into an average one to eliminate your bills and continuously lessen the debts in your account. It is hard to make adjustments all the time, but it is indeed YOUR future that matters the most than those grand living you are uncertain to have in the future. 

       4. Redeeming your life insurance

Unpopular yet a better strategy to pay down larger amounts of debts quickly. If you are truly drowning in debts and have no one to be considered as your beneficiaries that will benefit from your life insurance policy, then it might make sense to use those funds instead to pay off your debts. 

This process may not work if you own a term life insurance policy. It only works with people who have whole life policies that have built up cash value. The value of insurance is helpful, especially getting in cash for debt reduction. It is still on you if you want to remain some life insurance for your loved ones. 

        5. Find another source of income

Determination enters when you really want something to improve something and prove the difference for the better. One of those determinations is portrayed publicly especially when it comes to finances. Whether it is taking a part-time job, building a small business, or talking about a salary raise with your boss to make yourself debt-free and increase the security of your net worth. 

 

Earning money is hard but nothing is harder if you don’t do something to leave the uncertain condition you experience with your debts. 

 

Saving money in your bank account is good since having liquid money is important during emergency cases. However, do not dwell too much on just your savings account. Look for different ways and means to grow your money. For our true value is determined by how much money we earn but by how much money we manage to save. 

Circumstances in life are made not just to break us or tear us apart but more importantly, to let us look at it as a great opportunity to know ourselves deeply and remain reachable at all costs. 

Let say not all people will be beginning into the venture you want to begin with but still somehow have a discouraging part whenever you feel something weird about your financial plan. Homebuying is right there calling to you but you rather see it as a backup one instead of a priority at the moment. Why is that? 

What is the best answer to this hard and uncertain question, then? 

Like the media says, “The market is as hot as we’ve ever seen it.” and that proves that competition is also high yet many prospective buyers are still waiting for the best time to buy a home. It is indeed a big deal due to a genuine perspective that homebuying is an American dream to beautifully have it. Many sellers are also watching you go around and take place to guide you through but the competition is still high and uncertain. One of the certain situations is you may have to deal with enormous confusion in terms of forgetting important factors and parts of the homebuying process. 

Upon buying a home, it is natural that your emotions are taking over you but we recommend you don’t let it happen to you. Opportunities with the market and urgency may disturb you all the more but taking the risk to deal with is not as valuable to your financial activity. It is often present in every situation of a homebuyer that they forgo their own inspections to entice the seller to accept their offer but it is practically a mistake. No buyer shall skip the inspections because it is the main idea of the process where they can easily determine the repairs they’ll need to make right away. 

Taking a step back and monitoring the market is not always a bad idea to go with. Let your financial plan, personal feelings, and concrete research define the right home for you not just in its right place but also to the right time and phase of your life. 

 

CONTACT DETAILS: 

Realtor Mehrooz

License # S.0181857LCC

+1 702-493-8366

realtormehrooz@gmail.com

 

COME JOIN OUR  COMMUNITY AND LISTEN TO OUR PODCAST! 
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Three Things to Keep in Mind for Your Upcoming Strategic Planning Meeting

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The market is evolving. Are you aligning to it?

A bank's technology could be modernized to increase productivity, decrease errors, and free up funds for more investment. Despite these advantages, many banks are still far from where they need to be in order to compete in the modern digital environment.

By the end of 2022, only 11% of banks will have implemented a digital transformation plan, predicts Cornerstone Advisors' What's Going On In Banking 2022 analysis. What's the holdup, then? The industry structure that has developed with banking vendors is one factor that hinders reform. Missed deadlines, releases with dingbat problems, broken integrations, and a lack of skilled staff to help with system deployment and support are all very frequent.

A bank's future is greatly influenced by how it selects and nurtures technical talent, manages fintech alliances, and evaluates and maximizes its technology contracts. Before their subsequent strategic planning meeting, bank officers and directors should take into account the following three fundamental truths:

1. There is no university diploma that can be obtained for many areas of the bank.

 According to research, this year's top concern for financial institution executives was the ability to recruit skilled staff, up significantly from just 19 percent in 2021. The majority of banks have not sufficiently built their IT team for the coming decade, despite the industry move toward digital-first delivery, the need to better automate procedures, and the requirement to use strong data intelligence.

Every financial institution has a distinct set of line-of-business procedures, legal issues to deal with, and vendors and systems to manage; the knowledge necessary to do so can only be created internally. For the firm to advance, it will be crucial to identify the skill sets that are already present within the company.

A clear and thorough list of the positions, abilities, and knowledge that the bank needs to build across its four main business units—payments, commercial lending, digital marketing, and data analytics—is a good place for directors and executives to start.

2. Financial institutions and fintechs are on different sides of table. 

The connection between financial technology and financial institutions has seen significant transformation in the last ten years. "Banking as usual" is no longer an option; despite their desire to collaborate at the same table, banks and fintechs sit on opposite sides of the table and have very different demands and areas of relationship discontent.

A fintech startup can establish a bank's foundation with workable software or a platform, but the bank must have the internal expertise to use it. The collaboration will be strengthened to a great extent by a culture of disciplined execution and accountability that guarantees the fintech solution will be implemented in a high performance, referenceable manner.

 

3. Training and system utilization reviews need to find their way into vendor contracts. 

Banks are considering multimillion-dollar contracts for software solutions and, on top of that, spending tens of thousands of dollars on training. This is not the time to make poor financial decisions.

Every firm needs to create a closely knit "change team" that can extend, integrate, minimally customize, and keep track of a growing stack of novel platform solutions, largely cloud-based. For CFOs and the finance division, this entails making sporadic investments in the skills needed to increase the bank's technological independence.

An inventory for executive management that lists how many users have completed specific training courses is one method to start this effort. Every vendor contract should and can include this tool, which can be extremely useful and only incur modest additional costs.

By going into talks with insufficient understanding of market pricing, allowing contracts to automatically renew, and failing to prioritize contracts that require the greatest attention, many financial institutions expose themselves to unfavorable technological contract conditions. Vendor contracts give a significant possibility for cost savings when handled correctly.

 

CONTACT DETAILS: 

Realtor Mehrooz

License # S.0181857LCC

+1 702-493-8366

realtormehrooz@gmail.com

 

COME JOIN OUR  COMMUNITY AND LISTEN TO OUR PODCAST! 
LINKS BELOW: 

Watch on YouTube:

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