Building A Road Map To Success
As a future home owner, regardless of your financial means today, where you are and where you will be in five or six years all begins with you. You control your own road in virtually every aspect of your life. It is up to you to draw your Road Map to success. The earlier in life we do this, the more we enjoy the trip. Unfortunately, the vast majority of us just don’t know how.
Your Road Map is your plan to success and success always begins with the first step.
In life, one rarely succeeds without failure. Failure is easy to achieve by doing nothing, where success takes the courage to fail over and over again. If we have the courage to fail, we will find the ability to succeed. Failure is Success, Success is Failure and without one, most of us will never be blessed enough to see the other. They are our partners in life and we should embrace them both.
Success begins with understanding the role your credit plays in todays world. No matter our age, the impact is significant. From the cost to us in the insurance we buy to protect our assets, to the role it plays in our ability to excel in our work environment, to the direct impact it has on our ability to save in the form of real dollars. Credit is where our Road Map to success in life begins. It can place limits on us, and it can open up doors we never dreamed of.
It continues with understanding what the rules are that we must play by. In any game, there are rules that we must follow to achieve a victory. In this game, no one will tell you all the rules. Historically, you will only learn what you need to know to get from point A to point B. We’ve changed this for you the home buyer. Here, you will find all the rules. Some apply to you, some don’t, but the rules are here. It is up to you to learn and understand them and understand most importantly, which ones apply to your personal situation. This gives you the advantage in the game and will increase your chances of not just your success in owning a home, but in controlling how much that success costs you.
In any game, there will always be a way to cheat. Don’t cheat the system. Follow the rules as they apply to you and your situation. This may mean your success at home ownership will not be today, but some other tomorrow. The ability to build the Road Map to your success will still be drawn up and be controlled by you.
Understand the programs that are designed for your situation. Look at each one and the advantages and disadvantages they each have. Some come with higher short term costs and lower long term costs, while others, will be reversed in lower short term expenses but far higher long term costs overall. Look at each one, and the entirety of your Road Map This will help you determine which program fits your long term goals versus where you are today.
Be selective in who you associate with. Whether in life, or in business, it is no different. The character and abilities of the individuals we surround ourselves with will have a direct impact on where we are able to go. Whether it is a Real Estate Agent, or a Lender, Broker or Banker, investor, mentor etc. It is up to us to choose wisely who we partner with.
Make good decisions. Keep yourself focused on what your goals are and never be afraid to “straighten” your Road Map when it begins taking you in wrong directions. Whether it is something you, or your partners have done, or is thinking about. Adhere to the rules as they apply to your goals. Staying focused is one of the hardest things to do in a life of continually changing choices and flashy catch phrases.
Know what things will cost you and decide if the cost justifies the return on your investment. You work hard for your money, you want and deserve to maximize what those funds buy you. “Fluff” or “Junk” costs in any transaction, eat away at the benefits you receive. The more they are, the lower the benefit. You have to decide when the costs exceed the benefits.
In the end, though today you may not believe it, you are in total control. Really! You control every aspect of buying your home. Watch……
- You control your credit and where it is when you start.
- You control the amount of understanding you have of the process.
- You control the people you choose to work with.
- You control the loan program you choose.
- You control the property you attempt to buy.
- You control your down payment.
- You control your Lender/Broker/Banker Fees.
- You control who your title company will be and the fees you pay.
- You control the rate of interest you will accept.
- You control who will do your appraisal.
- You control who will do your home inspection.
- You control who will inspect the septic system.
- You control whether you have an Attorney.
- You control how much you will pay in Home Owner Insurance.
- You control Property Taxes, HOA Dues and Association Costs.
- You control the amount you will pay in Mortgage Insurance.
- You control the terms of your loan.
- You even control how much interest you will pay on your loan.
You see, there is not any aspect of the home buying process you don’t have some control over. It is all in your choices. As a home buyer, problems typically begin when we give up to much of that control to others. This is when we see unexpected costs creep there way in, higher interest rates than we would have gotten and so much more. It is up to you to not just build your own Road Map, but to maintain control over where that Road Map takes you.
This homebuyer education section is designed to assist you in building your very own personal Road Map to success one step at a time. It is up to you to invest yourself into the process. It is sincerely hoped you take advantage of all the tools this section offers so you can become the home buyer we all want to be.
Home Buyer Education:
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