Life: An unspoken truth


 Hi, this is Grant.

 Today I want to take a look at a saying that many of us have heard. "Life is what get's in the way while you're making plans". 

I know that I am usually talking about the reasons that buying a home using methods that don't involve traditional lenders can be a great option for many of you. If not that, than it's the other side of that equation that is the subject...why selling your home in a non traditional way can be the best choice for you. 

In my upcoming posts  I want to explore a simple truth. More times than not the reason we either sell or purchase a home isn't about the profit created, or the great buy on the property. The driving force for the transaction is... life. 

I'll explore why there are forces in our life that make the perfect choice one that just cannot be achieved, and why all is not lost when this is the case. The conversation will be about current housing status, family, work, health and the consequences of each as it affects where and how we live. Today let's look at your current housing status.

Generally speaking people either rent a place to live or own a place to live. 

As a renter the benefits are clear. No costs for repairs, probably no yardwork, and no big down payment needed to get in. Many families rent for life due to those benefits. Most are renting as a bridge to their next place to live. One of the major drawbacks to renting is the yearly angst that comes with renewal. Will next years rent go down or up? Are there any new rules with the new lease? How long will the next lease be for? Short term due to planned opportunities to live elsewhere, or longer term with the hope of lessening the cost through that commitment? What happens if plans change? Can I break the lease, and if so what will it cost me? 

You've been saving to buy a home, the plan is 25% down and an affordable mortgage in a great home where you will grow your family. Both of you are working but there's still a while to go before you get to your goal, and then LIFE shows up...

The complex you live in is sold to another management company. Almost overnight the pool is not cleaned properly, repairs through the complex are not complete and the couple of service challenges in your apartment take weeks to complete. Life

Then, to make matters even more concerning you got notice of your next lease terms and there is just one option. A 1 year lease with a $220 increase per month. Life 

You've looked at other apartments but none are available until after your current lease is over, and those are all at the same basic price anyway. You are not near your 25%  savings goal to qualify to buy a home. You even checked with your bank and been told that they might be able to get you a mortgage with a 20% deposit as long as you will pay 2-3 "points" what ever that is. Life

95% of the public either doesn't know about, or has the wrong idea about creative (owner) financing when buying a property. If you are part of that 5% that do know about it you know that you can likely buy a home with much less down (usually around 10%). You will likely be working with a smaller company (like Owner Finance Homes) that can work with you closely to make sure your finances will work when buying the home you select. Yes, you will likely pay a little higher interest rate on your purchase, but this is offset by the lower down payment and all of the write offs available when filing your taxes. You will need to purchase from the current inventory, which changes constantly, and you will need to decide if there are any compromises needed , and if your family can work through those compromises.  

Knowing about the existence of creative (owner) financing can be the key to solving your current housing (life) challenge. That's what we do at Owner Finance Homes throughout the Dallas area. 





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