FYI 2024-03-06

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Dream to Doorstep

Insights and knowledge to make informed decisions on your journey to homeownership

The home buying journey explained: 15 crucial steps to a successful home purchase (5 minute read)

The A to Z of Home Buying in 15 Simple Steps. From getting financially ready to sealing the deal, this article is your go-to guide for those of you buying a home for the first time. As a first time home buyer it is a must to understand the basics of budgeting, financing options, and how to negotiate with sellers.

What do you really need to buy a million dollar home? (5 minute read)

An annual salary flirting with $200,000, a credit score that sparkles brighter than a disco ball, a down payment so hefty it makes others blush, a financial portfolio that's more diverse than your shoe collection, and a real estate savvy that's as sharp as your wit. Buying and maintaining a million-dollar home requires financial discipline. Beyond the initial purchase, there are ongoing expenses such as property taxes, maintenance, and utilities. You gotta have a budgetary plan in place before you make the decision to buy.

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Building Wealth

Connecting Investments, Homeownership, and Financial Freedom

Get 40X richer : The wealth-building secret you need to know (4 minute read)

Owning a home just got way more exciting. In the last decade, homeowners in the U.S. became a whopping 40 times wealthier than renters. Lower and middle-income homeowners scored big in building wealth recently due to the appreciation of homes seen in the last decade. It works in two ways: First you have the advantage of home price appreciation, and second, it forces you to save for monthly payments which renters typically don’t.

Budgeting for unexpected financial emergencies (7 minute read)

Life's full of twists, but your finances don't have to be. A fender bender, an unexpected medical bill, a broken appliance - these unplanned expenses hit at the worst times. That's where an emergency fund comes in. Step one: Cut some unnecessary spending, like skipping that extra latte. Now, set a savings goal – think of it as a money mission. Be consistent, like saying hi to your savings regularly.

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Spill the Tea

Personal Stories & Expert Advice - Hear from people who have been there and done that

🎤 With Barbara Corcoran - Real Estate mogul

> Buying now with higher rates vs waiting until they come down? What are your thoughts?

‘I think the sooner you get in the market, the sooner you have a chip in the game. You can trade up,” she said. “It’s always a good time [to buy]. You are not buying an investment only, you are buying a home to raise your kids in, to have good times, to cook in your kitchen. You want to get in the market. So let’s say the interest rates come down to something with a five in front of it, everyone sitting on the sidelines is going to rush the market, bid the pricing up, there’s not enough inventory to go around … everyone is going to pay more to the tune of 10, 15 maybe 20 percent. So why wait?’

🎤 With Julia - First time homebuyer

> How did you choose between a $299K townhome with VA financing over a $400K prequalified house on a $180K combined income?

‘My husband and I purchased a 3-bedroom, 1.5-bath townhome recently. Our HOA fee is higher end, but it is still relatively cheaper than what 6.75% would have been on a house that prequalified for (400K on 180K combined income). We bought the townhome at 299K with 0 down w/ VA financing. We wanted to go the conservative route with our smaller abode. Our mortgage is 24% of our take home pay and we didn’t have to compromise our current lifestyle. We aren’t having kids for another few years as I am 28 and in my selfish DINK stage lol, and we know that we can wait to move when the theoretical kid is school aged (6 or 7 years old).’

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In The Spotlight

Exclusive deals and real estate news about market trends, property values, and predictions

2024 Real Estate Revolution: Why Buyers Are Offering More Than Asking Price (2 minute read)

Buyers are strategically putting in multiple offers, especially on starter and mid-priced homes, even as price concessions are happening in the upper end of the market. Learn the art of competitive bidding, the risks, and the rewards in this low-inventory market. If you're in the home-buying game, this is a must-read to navigate the twists and turns of the evolving real estate landscape!

Consumer Advocates for Home Buyers Offer a Free Virtual Class on Home Buying (1 minute read)

The nonprofit National Association of Exclusive Buyer Agents (NAEBA) is proud to announce its upcoming free Home-Buying Class scheduled for March 19, 2024, from 7:00 pm to 8:30 pm Eastern Time. This virtual event is all about arming you with the deets and tools to strut through the real estate market like a pro and snag your dream home with confidence. It's not just a class; it's your golden ticket to homeownership savvy!

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