HOME OWNERSHIP = MONEY IN YOUR POCKET

Written by Guest Blogger

Wendy Lee

of Exit Reality

Owning YOUR OWN  increases YOUR NET WORTH BY 49%!! 

How does owning your own home increase net worth? Here's how, when you are paying rent, which is actually your landlord's mortgage, plus any extra money he/she may earn as additional income (let's get real, investors are in the business to TO MAKE MONEY on their investments), so you can help them pay off their mortgage, so with that mindset, why not pay your own mortgage, you are basically pulling money out of one bank account, your ATM, and putting into another of YOUR bank account because you are paying off YOUR OWN MORTGAGE NOW!! Now that is putting money back in your own pocket!! 

As a independent contractor, self employed, home based business, running your own business out of your own home gives you financial benefits (ie tax write-off, deductions). For example, a client of mine prior to owning a home, paid Uncle Sam $1500 one year, then the next year, with the tax write offs, the same client got back from Uncle Sam $5000 the next year, what changed, he bought a home!! 

Other benefits of HOMEOWNERSHIP!! To be able to enjoy the comfort, security, and financial rewards for as long as YOU CHOOSE to stay in the property! You move when you are ready to move!! 

OK!! I AM INTERESTED IN BUYING MY OWN HOME, WHAT IS THE NEXT STEP? 

Now is the time to buy real estate. Real estate is on the up and up in value now. Donald Trump, and investors all started somewhere with just one property. In the end, stop wishing for it, and make it happen with your 1st home purchase. 

With historically low interest rates, great home prices, multitude of home buyer programs available, the key to your home in your hands. 

Whether it be you can only pay $1000 or $10000/month in your mortgage payment, there is a home somewhere out there for you. 

The 3 rules of real estate is location, location, and location. 

But if it is budget, budget, budget that is more important to you, then expand your search parameters to account for your budget considerations. 

Few key thoughts to keep in mind.....some of the DO's and DON'Ts

Buy a home that you can afford. Don't try to be like the Jones. 

Choose a loan that fits your specific needs, not all loans are one size fits all. 

Don't spend on your home's equity, your home is not an ATM. Taking equity out doesn't build wealth....

Don't fall behind on your property taxes. 

Always maintain your home. Choose to do a small project or projects every year so that when it is time to sell the home, you are not spending a lot of money to make sure the house shows well. Besides don't you want to enjoy some of those new home updates when you are in the house too...(smile)

And always ask for help at the 1st SIGN of financial trouble. 

The key to make your dreams come true is to be COMMITTED TO YOUR GOAL. 

Once committed, your goals are more attainable. Create a vision board, prepare a budget, and savings plan, and work them all into an action plan. 

Make sure you find a committed licensed real estate broker to assist you with your search, so get ready, set, sacrifice, save, and savor in the quest to become a HOMEOWNER!! 

 

Stop paying your landlord's mortgage, and start paying on YOUR OWN mortgage! 

For more tips and tools on building your wealth, follow me on Facebook, Twitter, Instagram, and You tube. 

 

Wendy Lee

The WRAP-STAR  Broker

EXIT Realty

http://www.wendylee365.exitsellschicago.com

Bringing you HAPPY AND HEALTHY HOME 

Give yourself some credit

Give yourself credit

Often times we as women under estimate our own worth and our own power. We sell ourselves short and devalue our offerings. We settle for less and sometime we even expect less than what we deserve. This is a limiting behavior and it must stop if you want to take your life and/ or business to the next level.

Do you honestly believe that you are worth pennies instead of dollars? I think not! If this is truly your belief I am here to tell you TODAY to STOP LYING TO YOURSELF!!!!!

You are worth it, you can do it. Whatever IT may be. Everything starts with belief; if you believe it then you can achieve it. If you believe that you should be paid less than the next person that is what you will receive. If you think you are not able to hit your fitness goals, that is what will happen. Stop the negative self-talk and self-sabotage. The mind is powerful; let your mind take you higher.  You can do it, I promise!

Girl give yourself some credit! You are an awesome amazing woman and you better know it! Your gifts, talents and existence are for a reason you better know it!

I challenge you to give yourself permission to do more, achieve more and receive more. Believe that you can and watch it happen!

This is your SPECIFIC action step and CALL TO ACTION

Fitness goals: The next time you work out, set a goal. When you feel like quitting, keep pushing for 2 more minutes, or two more reps. Just do it, tell yourself “I can do this” then do it. Even if you fall a little short of your initial goal for the day make sure that you go at least 2 minutes or 2 reps after you are ready to quit. After that set your IMPROVEMENT GOAL FOR THE NEXT DAY and get back at it.

Professional goals: The next time you set your prices for your product and services push it higher. You are more than likely undervaluing yourself. Whatever the first price is that comes to your mind increase it by 10% and put that out there. What you offer is of quality and value and you should be compensated accordingly.  

Surprisingly  the people who see the value in what you offer are willing to pay much more than you think. We pay for what we want, need and find value in. If someone is not willing to pay your price, that person is not who you should be working with. Do not discount yourself for the benefit of someone else. Create a win win…they win and so do you!

That is my challenge to you try it- Go ahead and give yourself some credit. #Beastmode

Tell me how it goes

#100women100goals100days