Making The Most of Your Mortgage Options
As one of the largest generations in the history of mankind, baby boomers are also growing to become one of the largest niches. From healthcare to real estate, the men and women that shaped the nation over the last few decades are at the center of several multi-billion dollar industries. In today’s world, if you want to succeed, you have to focus on the boomers. In order to cater to this rather broad group of individuals, you should learn what makes them unique. What are their primary goals? How can you get them to part with their hard-earned money? The key, of course, is finding out what makes them tick and showcasing highly sought after qualities in anything you sell.
If you’re a baby boomer, you probably see your home as an investment in the future of your family. You look for a home that can stand the test of time, a home that can be passed from generation to generation so that no one in your family line will ever be without a roof over their heads. It’s a noble philosophy but an incomplete one. Neighborhoods change over the course of time and work sometimes necessitates relocation. Rather than focusing on a generational home, a boomer should focus on purchasing a home that can maintain its value through the many fluctuations in the housing market.
Mortgage options should also be weighed carefully. As a boomer, you likely have access to a broad range of loans or you may have the resources to purchase your home without a mortgage. While many boomers prefer a mortgage because it allows them to keep the bulk of their assets liquid, there are many downfalls to a mortgage. First and foremost, many loans apply mortgage payments to the interest before the principle, which means you won’t start building equity until you’ve been in the home for several years. When purchased in cash, though, a homeowner can take out a mortgage in order to gain access to their equity without losing their home.
Few people think about air or water quality when they set out to buy a home. Volatile organic compounds, lead, and even bacteria can be present in a home’s potable water system, bringing illness with each glass of water you drink. Even worse, the air could be filled with radon or air borne mold. Without the expertise and experience of a certified home inspector, you would not be able to detect these kind of costly future repairs. So, when buying a home and considering the long term investment, invest the time to get a thorough home inspection of your potential new property. For condos and historic building, our specialized inspectors can ensure the safety of your health and determine the overall health of the building. Your home inspection can be completed in just 24 hours.