(Andrew Jackson)
So this week, I was talking to a young couple I know that was about to close on their first home. They were riding the wild roller coaster of current mortgage rate swings and were not happy about the process at all. Yet, when they spoke about finally living in a home that they own, their disposition changed dramatically.
A smile came across their faces as they talked about decorating the house and how much they will enjoy entertaining in the backyard. They talked about inviting friends over for dinner and their family over for the holidays. The more they talked, the more excited they became.
I asked them if many of their friends were also buying. I was shocked to find out that they weren’t. Why not? Their friends believed that home-ownership was financially unobtainable right now. Many wanted to own but didn’t think they could afford the monthly mortgage payment. They decided to rent instead.
I said that, with historically low interest rates and prices where they are today, owning a home might not be any more expensive than renting one. The couple agreed but said their friends were AFRAID; afraid they might not qualify for a loan, afraid to handle negotiations with a seller, afraid of the home buying process itself.
Wow! I've heard of many reasons, but afraid? People should not make any decision based on fear. I’m not saying that every young person should own a home. I am saying that anyone that is qualified and wants to buy should not be afraid of the process.
I realize the process may seem daunting but realize over 10,000 homes sell every day in this country. Sit down and discuss your goals with professionals from both the real estate and mortgage industries. Get the facts. Make an informed decision. Don’t let the fear of the unknown prevent you from living the life of your dreams.
If I can help alleviate any fears, please feel free to contact me.
https://www.facebook.com/StefenLibertiWestLARealtor
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