Once Upon A Time
People felt home ownership was a goal easily in reach…
But today, half of us feel it’s not possible.
What if there was another story?
Help your family build generational wealth with the purchase of a home.
For those of you with equity, there’s a way you can help your family build generational wealth with the purchase of a home. For those of you not yet on the real estate ladder, there are steps you can take to begin building your own generational wealth.
Real estate as a generational wealth builder
- 39% of homeowners own their home free and clear
- Average homeowner equity is $299K
- Homeowners have 40x the net worth of renters
Not yet a homeowner? This could be a good time to talk with family about options.
54% of millennials received help with their down payment.
Using your equity to leave a legacy
- Help your kids or grandkids move to a better neighborhood.
- A mortgage is a forced savings account.
- A monthly mortgage means they have skin in the game.
- Impact your family today rather than plan for a inheritance later.
I have home equity – now what?
- Talk to your spouse or partner so you’re both on board with the plan.
- Talk to your child, grandchild or family member to gauge their goals, interests and needs.
- Meet with a qualified financial professional to make sure all legal and financial obligations are met. Possible options to research include gifts, loans, leases or trusts.
I’m just starting out on the journey
- Improve your credit score by paying down debt as soon as you can.
- Don’t take on any unnecessary major expenses such as a new vehicle, appliance, or vacation.
- Talk to a qualified mortgage professional to get pre-approved so you’re ready when the time is right. I can put you in touch with a trusted source from my network.
Oh, by the way…if you or someone you know is considering a move, feel free to contact me with any questions.
I’m always here to help you write your next chapter.
For a printable copy of this newsletter, click here and if you’d like to know more about my Top 10 Favorite Swimming Holes in Austin (located at the bottom of my flyer) click here.
