Go with a Realtor

Go with a realtor

Since 2008 (and arguably before) homeownership has lost some of its allure as a financial investment;more began to question whether owning a home was truly a good way to build wealth.​ Whether choosing to diversify their portfolio by exploring gold and silver or just in doing what our great grandparents did– put their money in a safe avoiding the risk or stocks, bonds and real estate all together. Needless to say, with whatever you decide, we can all agree that we must plan for the future.

If you choose to include real estate in your portfolio (to include buying your personal residence), here is some advice from my friend and real estate agent, Ms. Kyiandra C. Somerville reference do’s and don’ts of mortgage shopping. She says when you are in the market for a house and shopping for a mortgage, always start with your realtor. If you have a good one, they will know a good local lender who will work hard to get you the best deals. Local lenders want more agent business, so they go that extra mile to ensure we come back. They tend to charge lower fees and offer more credits. Some will even take care of some of the VA funding fee depending the market you’re in. Good agents know more than just houses. Make sure you’re getting the most out of yours.

The Federal Reserve conducts a Survey of Consumer Finances, every three years giving current analysis from the nation. Some of the findings revealed in their report:

1. The average American family has a net worth of $81,200
Of that net worth, 61.4% ($49,856) of it is in home equity
2. A homeowner’s net worth is over 36 times greater than that of a renter
3. The average homeowner has a net worth of $194,500 while the average net worth of a renter is $5,400

Buying a home is often considered the most critical decision an adult makes in his or her life; and rightfully so. These type of decisions have lifelong bearing on your ability to relocate (or not).

Please note: I reserve the right to delete comments that are offensive or off-topic.

Leave a Reply

Your email address will not be published. Required fields are marked *