In this incredibly fast moving market I am constantly asked “Paul, how do I become a homeowner in this current economy? Please help!”
This seemingly difficult situation is actually much easier than you think when working with a trusted real estate professional like myself with knowledge, experience and the know-how to accomplish your goals!
1. If you’re having difficulty coming up with a down payment, consider purchasing with a friend or sibling! It’s an incredible way to pool your funds and work together for that down payment. Enjoy each other’s company and share the bills for a few years to maximize market appreciation! Then simply split all the financial success and gains, take all that accumulated appreciation and money you’ve already paid down and use that purchasing power to buy your next home by yourself!
2. If you can afford to buy but are afraid of being “house-poor” there’s a simple solution! Rent an extra bedroom or the basement to someone you know that can’t yet afford to buy! It helps you to ease the stress of bills as your property is paid down with the added bonus of helping someone else that needs an affordable place to stay!
3. With equity saved in your parent’s home, many equity lines of credit are interest only payments. Perhaps ask if you could do an interest only loan from a parent? You can pay them back later as your home appreciates in value!
4. If you haven’t been pre-approved already, I’ll connect you with one of my incredible mortgage professionals to find out what financing option is best for you and your situation. There is almost always a way to capitalize on these low interest rates and get you the mortgage you need.
– Paul Mann, http://www.mannestates.com