Peter Edmunds Realtor

Hello FB friends/family, I hope you'll are doing well.

If you are still in the middle of making your decision on whether to rent or buy, you may wonder if you missed the boat on the big net worth boost. But here is what you need to realize......as a recent article by the NAR explains " buying a home can be a great way to grow your net worth, since home values have a tendency to appreciate and rise in value over time". Furthermore, the Feds recently published data on the average Net Worth of home owners vs Renters and it was very clear that homeowners had a huge advantage - $396K vs $10K.

In addition to growing your Net Worth through accruing equity in your property over time, there are other financial benefits in homeownership:
1. The interest on your mortgage is tax deductible (in most cases - the first $750K of mortgage debt).
2. The equity in your property can fund a small business, pay for your children's education, fund costly repairs to your property which in turn will increase the basis of the property).
3. Create generational wealth.
4. Real Estate is a safer and better Invesment in the long term than Stocks, Bond, Gold and Silver.

If you are ready and able to buy your dream home, give me a call at (561) 410 6018 and we can discuss your goals and options......you can also reach me at [email protected].

Visit our website for other financial services offered - www.caribbeanmortgagegroup.com - .......have an awesome weekend!

Caribbean Mortgage Group – Mortgages made easy! » Our services extend to residents and non-residents in the following Caribbean Islands :Barbados; British Virgin Islands; Cayman Islands; Dominica; St. Kitts & Nevis; Saint Lucia; St.Vincent & The Grenadines and Turks & Caicos Islands.

Hello FB friends/family, I hope you'll are doing fine.

In light of the current economic climate, many of you who are thinking about buying a home maybe second guessing you decision due to - 1) High inflation 2) Higher interest rates and 3) A housing crash. My advice to you is if you are ready and able to buy your dream home, please continue to pursue your plans instead of continuing to rent for the following reasons:
1) Inflation will eventually get back under control at a more management level; this is the goal/aim of the Federal Reserve Bank.
2) As inflation cools off to normal levels, mortgage interest rates in turn will decrease as well. At this point you can refinance your mortgage to benefit from a lower interest rate and in turn a
lower monthly payment.
3) With much stringent lending standards now in place (requirement of the Federal Reserve Bank from 2008) the probability of a housing crash is very slim when compared to the crash in 2008. According to the NAR, home are projected to appreciate (at a moderate rate) NOT depreciate.
4) By pay down on your mortgage, you will be building equity over time, which will in turn increase you Net Worth.
5) By investing in a multi-family unit (instead of a single family home) you can live rent free and let the other tenants service your mortgage; this one of the best ways to create
generational wealth.

To help you understand just how much owing a home can have a positive impact on your life over the years, take a look at what the data shows on the attached chart. The gap between the wealth of homeowners vs renters is quite substantial, even when incomes are similar.

Before putting your homeownership plans on hold, give me a call (561 410 6018) to review/discuss your options......have an awesome day1

Homeownership Is an Investment in Your Future There are many people thinking about buying a home, but with everything affecting the economy, some are wondering if it’s a smart decision to buy now or if it makes more sense to wait it out.