David Deem 714-997-3486 Dave@DeemTeam.com A recent survey from  LendingTree.com  found there are multiple reasons why Americans would choose to purchase a home instead of renting. Some of the most popular non-financial reasons given include: The flexibility to make the space your own The pride homeownership offers The sense of stability In the same survey, 41% of respondents say they’d rather own a home than rent because of the unique way  homeownership  builds wealth  over time. And experts agree – the home you own is an important tool for building your net worth.  Here’s what many of those experts have to say about building long-term financial stability through homeownership. According to the  National Association of Realtors  (NAR): “Homeowners who purchased a typical single-family existing-home 30 years ago at the median sales price of $103,333 with a 10% down payment loan and who sold the property at the median sales pri...

  David Deem 714-997-3486 Dave@DeemTeam.com As rent prices continue to soar, many renters want to know what they can do to get ready to buy their first home. According to recent data from  ApartmentList.com : “ The first half of 2021 has seen the fastest growth in rent prices since the start of our estimates in 2017.  Our national rent index has increased by 11.4 percent since January . . . .” Those rising rental costs may make it seem impossible to prepare for homeownership if you’re a renter. But the truth is, there are ways you can – and should – prepare to purchase your first home. Here’s some expert advice on what to do if you’re ready to learn more about how to escape rising rents. Start Saving – Even Small Amounts – Now Experts agree, setting aside what you can – even smaller amounts of money – into a dedicated savings account is a great starting point when it comes to saving for a  down payment . As Cindy Zuniga-Sanchez, Founder of  Zero-Based ...

  David Deem 714-997-3486 Dave@DeemTeam.com Sometimes it can feel like everyone has advice when it comes to buying a home. While your friends and loved ones may have your best interests in mind, they may also be missing  crucial information about today’s housing market that you need to make your best decision. Before you decide whether you’re ready to buy a home, you should know how to answer these three questions. 1. What’s Going on with Home Prices? Home prices are one factor that directly impacts how much it will cost to buy a home and how much you stand to gain as a homeowner when prices appreciate. The graph below shows just how much experts are forecasting prices to rise this year: Continued price appreciation is great news for existing homeowners but  can pose a significant challenge if you  wait to buy .  Using these forecasts, you can determine just how much waiting could cost you. If prices increase based on the average of all forec...

  David Deem 714-997-3486 Dave@DeemTeam.com A  Fannie Mae   survey  recently revealed some of the most highly-rated benefits of homeownership, which continue to be key drivers in today’s power-packed housing market. Here are the top four financial benefits of owning a home according to consumer respondents: 88% - a better chance of saving for retirement 87% - the best investment plan 85% - the chance to be better off financially 85% - the chance to build up wealth Additional financial advantages of homeownership included in the survey are having the best overall tax situation and being able to live within your budget. Does homeownership actually give you a better chance to build wealth? No one can question a person’s unique feelings about the importance of homeownership. However, it’s fair to ask if the numbers justify homeownership as a  financial  asset. Last fall, the  Federal Reserve  released the  Survey of Consumer Finances , a report d...

  David Deem 714-997-3486 Dave@DeemTeam.com In today’s housing market, there are clear financial benefits to owning a home: increasing  equity , the chance to build your  net worth , and  appreciating  home values, just to name a few. If you’re a renter, it’s never too early to think about how homeownership can propel you toward a stronger future. Here’s a dive into three often-overlooked financial benefits of homeownership and how preparing for them now can steer you in the direction of greater financial security and savings. 1. You Won’t Always Have a Monthly Housing Payment Personal finance advisor Dave Ramsey  explains : “Every payment brings you closer to owning the house. When you pay your rent, that money is spent. Gone. Bye. Not returning. But when you pay your mortgage, you work toward full ownership.” As a homeowner, you can eventually eliminate the monthly payment you make on your house. That’s a huge win and a big factor in how homeownership can...

  David Deem 714-997-3486 Dave@DeemTeam.com We talk a lot about why it makes financial sense to buy a home, but more often than not, we’re drawn to the emotional reasons for homeownership. No matter the living space, the feeling of a home means different things to different people. Whether it’s a certain scent or a favorite chair, the feel-good connections to our own homes are typically more important to us than the financial ones. Here are some of the reasons why. 1. Owning your home is an accomplishment worth celebrating You’ve likely worked very hard to achieve this dream, and whether it’s your first home or your fifth, congratulations are in order for this milestone. You’ve earned it. 2. There’s no place like home Owning your own home offers not only safety and security but also a comfortable place where you can simply relax and kick-back after a long day. Sometimes, that’s just what we need to feel recharged and truly content. 3. You can find more space to meet your ...

  David Deem 714-997-3486 Dave@DeemTeam.com Over the past year, mortgage rates have  fallen  more than a full percentage point, hitting a new historic low 15 times. This is a great driver for homeownership, as today’s low rates provide consumers with some significant benefits. Here’s a look at three of them. 1. Move-up or Downsize:  One option is to consider moving into a new home, putting the  equity  you’ve likely gained in your current house toward a down payment on a new one that better meets your needs – something that’s truly a perfect fit, especially if your lifestyle has changed this year. 2. Become a First-Time Homebuyer:  There are many financial and non-financial benefits to owning a home, and the most important thing is to first decide when the time is right for you. You have to determine that on your own, but know that now is a great time to buy if you’re considering it. Just take a look at the cost of  renting vs. buying . 3. Re...

  David Deem 714-997-3486 Dave@DeemTeam.com Homeownership is on the goal list for many young adults, but sometimes it’s hard to know exactly how to get there. From understanding the homebuying  process  to pre-approval and down payment assistance options, uncertainty along the way can ultimately hold some buyers back. Today, there are over 75 million Millennials and 67 million Gen Z’ers in the U.S., making up a significant number of both current and soon-to-be homebuyers. According to a recent  Fannie Mae   survey  of more than 2,000 of these individuals: “88% said they are confident they will achieve homeownership someday.” In addition, the survey also reveals that for younger generations, the motivation to own a home may be more emotional than financial compared to previous generations: <50% say they want to use their home as an asset 78% believe it’s the best way to live the way they want, without restrictions 80% believe homeownership is the best way...

David Deem 714-997-3486 Dave@DeemTeam.com If you’re lucky enough to have a spare bedroom, you may want to think of it less as a rarely used landing spot for guests or a place to store extra ‘stuff,’ and more as a blank canvas - a pleasant spot you can use for rest, relaxation, hobbies or exercise, or even as a money-making option. Consider these inspiring ideas from room designers and creative thinkers: Get crafty -  Do you sew occasionally? Like to draw or paint? Love to do amazing gift-wraps? Fill the room with smart choices of furnishings, storage, tables and accessories to make your hobby more fun than ever. Make it personal -  Turn the room into a ma’am- or man-cave, with comfy furnishings, a TV and sound system and anything else you need to make it a cozy, personal retreat. Make it a study -  Create a cheerful home office space where you or your kids can pay bills, read online or study without interruption. Install a work counter/desk across one wall, add enough cha...

David Deem 714-997-3486 Dave@DeemTeam.com Because most people are spending more time at home than usual, ensuring your living spaces are clean and uncluttered can make being home more comfortable and enjoyable. However, not everyone has the time, or desire, to devote to constant maintenance. A shift toward less work around the house just takes some prep work and smart tools. Organize and declutter.  Working your way around stacks of things you don’t use frequently, or need at all, can make it difficult to keep your home tidy. Cut back on the clutter by sorting items into categories such as things you use often, those you rarely use and things you don’t need any longer. Donate what you don’t need then work on organizing the rest. Invest in drawers, shelves and storage bins to ensure everything has a place, and only leave out the items you use frequently. Automate your cleaning.  You can simplify your chores by putting technology to work for you. One example is an all-in-one rob...