Traditional Home Ownership

Dated: 03/19/2019

Views: 8

Home Ownership is an Escalator to Wealth

Unless you are living with your parents rent-free, you are paying a mortgage - either yours or your landlord’s. Entrepreneur Magazine, a premier source for small business, explained this month in their article, “12 Practical Steps to Getting Rich”:

While renting on a temporary basis isn't terrible, you should most certainly own the roof over your head if you're serious about your finances. It won't make you rich overnight, but by renting, you're paying someone else's mortgage. In effect, you're making someone else rich.”

Christina Boyle, Senior Vice President and head of the Single-Family Sales & Relationship Management organization at Freddie Mac, explains another benefit of securing a mortgage vs. paying rent:

“With a 30-year fixed rate mortgage, you’ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.”

"If millennials don't buy a home, their chances


of actually having any wealth in this country are


little to none. The average homeowner to this


day is 38 times wealthier than a renter."

Purchasing a home is usually the best move for most families, not just any house will do.  Fresh Look takes pride in guiding buyers toward a purchase that will gain equity and appreciation over the years, offer more than one exit opportunity, and not put our clients at financial risk in the meantime.



             1. Purchase a home below your means.

             2. Look for equity growth opportunities.

Being approved for a $650,000 mortgage DOES NOT mean you are required to spend all $650,000 on your home.  You and your broker need to take a (Fresh) look at how this will influence your monthly expenses and long term plans.  If this is your first home, most of our clients are looking to establish a strong financial foundation, not burden themselves with hefty payments and few options to exit.

Next, your purchase should offer you the opportunity to force some appreciation or be located in an area reasonable expected to increase in value.  We do not want our clients purchasing the best house in the best neighborhood at the top of the market.  Instead, our clients look for growing areas, opportunities to improve a property, and / or at the very least, time their purchase with natural rise and fall of the market. 

Your Fresh Broker can help guide you to areas to consider while you determine your other buying criteria.  Download our free guide for a complete explanation of setting criteria, researching areas, and an outline of all the necessary steps to move to your first closing.




The Complete Guide to Buying a House

Buying a home requires multiple steps and choices.  We strongly feel there is a "right" way to approach home ownership, so we created a guide, Compete Guide to Buying a House."  It’s free and filled with our best advice on the topic.

Click here to learn more about Buying a Home, the Fresh Way.

Blog author image

Marco Murad

Off Market Specialist. Specialties: Buyer's Agent, Listing Agent, Relocation, Commercial R.E. I'm a real estate consultant who's made a career of an excellent track record of outstanding results an....

Want to Advertise on this Site?

Latest Blog Posts

Some Quick Links That Could Help You Find A Great Deal In Your Area

Down below are some "Quick Links" that shows you specific lists of "Propertunities" in your area!If you're looking for a great deal on a home or investment property in your area. Be sure to bookmark

Read More

Preparing To Sell Top 10 Tips To Maximize Your Sales Price

Preparing to Sell: Top 10 Tips to Maximize Your Sales PriceSelling your house for top dollar is no easy feat.  There are many details and moving parts; Some tasks might just get left off the

Read More

10 BestKept Secrets For Selling Your Home

10 Best-Kept Secrets for Selling Your Home Tricks of the trade to help you get top dollar when selling your  home.Selling Secret #10: Pricing it rightFind out what your home is worth, then

Read More

Just Listed 61 Woodlawn Ave Chelsea MA 02150

Just ListedContact me for more information or to schedule a showing.61 Woodlawn Ave, Chelsea, MA 02150Welcome to home to 61 Woodlawn Ave, Chelsea. Located in the Prattville neighborhood right on the

Read More