Young couples, first time home buyers often wonder if they can afford their dream home – without breaking the bank. Taking on a house and mortgage can limit other things which may or may not be important. Retirement savings, vacations, new car purchases and what about living for today? Big mortgage payments might make a family think twice about that vacation.
Not surprisingly, a lot of Baby Boomers are considering a downsize of their home. In some cases, it’s because people have more house than they need once the kids grow up and move out.
Either way, young or old, upsize or downsize, housing costs represent a large component of household spending and a large proportion of household net worth. It’s important to evaluate the pros and cons of moving up or cashing out.
Just because a bank approves you for a mortgage, it doesn’t mean you’re wise to take it on.
Let me help you make sound finincial planning when it comes to moving up or cashing out. I’ve been helping people with these most importand decisions for over 25 years.
Please give me a call to discuss your housing needs.
Earning the right to be your Realtor consultant for life,
Stephen J. Hall, NLAR
Oh, by the way, I'm never too busy for your referrals!