Friday April 24, 2015
$21,600. For the majority of us, that’s a lot of money right? If you had that kind of money would you give it away? “No way,” is what you’re probably saying. But that is what many people are doing, not just once, but EVERY SINGLE YEAR. If you scan Craigslist you’ll see that $1800 is about the average monthly rent for a 3 bedroom, 2 bath home/condo/townhouse in Anchorage right now. Month after month, year after year, people are paying this kind of rent, paying someone else’s mortgage, when for the same monthly amount they could be owning a home of their own.
Why not invest in a brand new home today?
“I can’t afford a down payment,” is the most common reason for not purchasing. This was true for many of us in the past. But did you know that there are loan programs out there (namely Alaska Housing and Cook Inlet Housing) that, along with the builders’ closing cost contribution and low, low, low interest rates, can get you into a BRAND NEW HOME with nothing down? This would be a BRAND NEW 3 bedroom, 2 bath, 2-car garage townhouse-style condo for the same monthly payment as you are spending in rent each month. No, I’m not kidding!
“But I don’t want the maintenance hassles of owning my own home,” you might say. Did I mention BRAND NEW? With a new home you won’t have to deal with any costly maintenance issues typical of older homes for many years to come. Most new condos even come with landscaping installed so there are no huge expenses upon move-in.
“I want to be flexible, and free to move whenever I want” is another reason people give for not purchasing. Yes, that’s a good reason, if you move around a lot, change jobs, etc. But if you’ve been living in the same rental for 5 years think about how much money you’ve been giving to someone else, when you could be investing it in something YOU own.
“I can’t afford my dream home so why should I settle for less?” No, you might not be able to afford the size/location/upgraded home you really want right now. Pinterest and Houzz are great for showing you all the things you can’t necessarily afford. But if you ask most people who are living in their dream homes, they didn’t just wake up one day in the house of their dreams. They started off with what they COULD afford, over time built equity in that home, and eventually were able to move up to another. Sometimes another and another, until they ended up where they wanted to be. You’ve just got to take that first step to homeownership. And there’s no better way to take that step than into a BRAND NEW HOME.
“My credit is bad.” Yes, that is sometimes a deal breaker. But it may not be as awful as it seems. Make an appointment with a mortgage professional. Don’t be afraid or embarrassed – they can help outline specific steps you need to take to repair your credit. In no time you may be on your way to homeownership.
Yes, buying a home can be intimidating, maybe downright scary. Until you’ve done it. Then you’ll wonder why you didn’t do it sooner. And Spinell Homes makes it so easy. Let our professionals guide you into a great new home. And start putting your money towards yourself.