The importance of being a homeowner cannot be overstated, beside the obvious tax benefits, according to a recent study done by the Federal Reserve, the average net worth of a homeowner is $225,000 compared to a renter at $6,300, that is 40x more net worth for a homeowner vs a renter. This is an astonishing statistic and underscores the importance of home ownership and the path to prosperity. 

A misconception that many of our locals who work in the service sector have is that home ownership is out of reach for them. This misconception is far from the truth and prevents them from having a home of their own and subsequently increasing their net worth. 

Buying a home is a process and that process needs to start somewhere. I know in our brokerage we do everything within our power to get locals into homes. We know that without our locals we would not have the beautiful vibrant towns that we all enjoy, so helping locals achieve stability through home ownership is a priority. 

So where do you start the process? The first step is to start getting your team together by building a relationship with an experienced real estate broker. This is the person who knows the housing market intimately and will find you the right house, this is their job, that’s what they do all day every day. Your broker is the one that is also going to get you with a lender to round out your home buying team. 

The lender is a big part of the equation, your lender is the one that is going to help you get those ducks lined out and make that new home a reality. Very few first time buyers have everything in order, but don’t worry, a good lender will help you get it all sorted out. The lender is going to look at your individual situation, probably request additional documents then make recommendations on what needs to be done so when the right house comes along you are ready to pull the trigger. Getting qualified for a loan can be frustrating at times, however, the end result far outweighs any frustrations you may experience along the way. So if you are thinking about buying, let's get your home buying team together and get you on the road to prosperity. 

 

Questions, contact me anytime. 

Rob Swan

Swan Realty

575-613-4243

 

rob@swanrealtyinc.com