Indecision is Not a Decision

Wanting to buy a house in Denver takes some definite and strategic planning. First, make sure that you can get a loan. What do I need to get a loan? Typically, it takes about $60,000 gross income per year to qualify for a $300,000 home loan. And a good credit score. You need to ask "How can I improve my credit score?" Sadly, some lenders have gotten into the mode of "producing" and have forgotten the joy of helping those who need it.

There could be some legitimate reasons for not buying a home but indecision is not one of them. Indecision is rooted in not having enough information to move forward to own a home or continue renting.

If you keep renting, at the end of the year, you have had a place to live and a pile of receipts that helped the landlord pay for his house. Deciding to buy a home will give you a place to live that is yours and all the things that come with that.

When you consider principal reduction, appreciation and tax savings, your monthly cost of housing could be much less than the rent you’re paying. The principal reduction included in each payment is like a forced savings account that increases as your mortgage balance decreases. Your equity in the property will also grow due to appreciation as the home goes up in value. The equity is part of your net worth and an investment in your family’s future.

The income tax savings can be an additional financial consideration if the combined interest and property taxes are greater than the allowable standard deduction.

Trends are showing that both tenants and homeowners are staying in their homes longer. It’s been said that whether you rent or own, you’re paying for the home. Do you really want to buy the home for your landlord? Check out your numbers on a Rent vs. Own and then, call us to help make it happen.

As you consider the possibilities of home ownership In Denver there are a lot of questions...some I can answer and others a loan officer is needed. However, home ownership is still the best investment for long term growth. And even though you own a home, you still need to keep your credit sparkling clean for the next opportunity that will show itself. Do not let those credit cards get behind, and make those minimum payments. Therefor when those questions arise make sure to reach out and call or contact me.