The Real Estate Journey - Austin Real Estate Agent

The Real Estate Journey

/ Home Buying, Home Selling, Real Estate / By
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The Real Estate Journey

The road to homeownership may seem overwhelming but when you take it step by step, you’ll soon reach your destination – your dream home!

Your First Home

  • Set up designated down payment savings account.
  • Pay down credit card and other debt.
  • Look into first-time homebuyer programs.

This is an image of a doormat that says First Time Buyer and 2 peoples legs in the background.

 

Need More Space

  • Make bigger (or additional) mortgage payments.
  • Refinance and shorten your mortgage loan term.
  • Reduce expenses to save money.

This is an image of a chalkboard with a picture of a house drawn in pink.

 

Time to Downsize

(or invest in property)

  • Talk to your financial professional about tapping into your home’s equity.
  • Think about the type of home and community you want to live in.
  • Start organizing now.

This is an image of a laptop on a table with the word investment on the screen and a small wood house, a piggy bank and a stack of coins on the table next to it.

 

Journey Essentials:

  • Good credit and low consumer debt.
  • A professional agent in your corner.
  • A positive attitude – don’t give up!

The Road Ahead

Homeownership provides stability, security and the freedom to make the space your own. It also offers financial advantages – not only will you get tax benefits, building equity in your home is like a ready-made savings plan.

This is an image of a road map with thumbtacks marking different cities

 

 

 

 

 

  • Home prices have increased 971% since 1967.
  • Homeowners have 40x the net worth of renters.
  • Average homeowner equity is $299K.
  • 39% of homeowners own their home free and clear.
  • Over 46% mortgaged residences have equity of at least 50%.

With home prices rising, consider buying now and refinancing later. Discussing with a financial professional is always a good idea.

If you or someone you know is considering a move, feel free to contact me with any questions. I’m here to offer clear, concise informati0n you can trust. I also belong to a network of top real estate professionals, and I can connect you to one wherever you’re looking to go.

For a printable copy of this newsletter, click here.

Sources: 1. bankrate.com/home-equity/homeowner-equity-data-and-statistics 2. In2013dollars.com/Housing/price-inflation 3. axlos.com/2023/12/12/mortgage-free-homes 4. Fred.stlouisfed.org 5. Keeping Current Matters 6. Icemortgagetechnology.com/resources/data-reports/february-2024-mortgage-monitor

 

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