The difference between those who succeed in life and those who fail is very simple. One of the wisest people I have ever meet shared with me the importance of planning for the future. He told me in the simplest and profoundest terms, “the wise think about tomorrow.”
The key concept I want to discuss and bring to light is also simple and profound. Thirty years from now, the family who I just sold a home to will have their house fully paid off. Over the course of that time, they will have seen their property accrue an average of 3-6% accelerated equity growth annually. The home that they purchased for $175,000 with be a fully liquid asset worth on the lowest end of the spectrum $300,000.
Thirty years from now, a similar couple who decides to take the easy road, live for the now, and save a couple of hundred dollars per month, they go the path of renting for the next thirty years. The average rent in the grand valley is $997 with an inflation rate of 5% annually. To make the numbers easier lets say their base rent is currently $1000 per month for 2018. Thirty years from now they will have attained $0 in long term wealth assets. They will have spent on the lowest spectrum $378,000 in rent with nothing to show.
The family I recently helped find a beautiful home qualified for the CHFA (Colorado Housing Foundation Authority) Loan Program which enabled them to get into the home with relatively no down payment. Their total out of pocket expense was $1000 (equivalent to the amount of one months rent).
When considering the long term and thinking about the future with goals in mind. I would wager that the family who achieved home ownership will be supremely happier in the long-run.
If you are considering taking the first step of researching the market. You would like to one day own a home of your own. You would love to one day attain a long term wealth asset that will produce a generational blessing to you children and grandchildren. You do not understand how to make that possible or where to start. I would be delighted to meet with you to better understand where you are, where you would like to go, and the steps to move forward to get there!
I am also hosting a free home buying seminar which will empower you with key knowledge to be supremely successful for now and the days and years ahead.
The FREE event will be…
Wednesday April 25th
@ The Grand Junction Board of Realtors
2743 Crossroads Blvd. Grand Junction, CO 81506
5:30pm – 7:00pm
Please RSVP to reserve your seat!
Pizza & Refreshments Provided
Highest & Warmest Regards,
Micah Buczek- Real Estate Broker