Peter Edmunds Realtor

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

Some of you maybe at a point where you are thinking about renewing your Lease or buying a residential property. As a Real Estate Advisor and homeowner, I would suggest that you buy if you can afford to service the mortgage for the following reasons:
1. Your monthly rent payment goes up each time you sign/renew your Lease as Landlords claim the increase is used to mitigate rising inflation. However, with a fixed-rate mortgage, your monthly payment is fixed for the term of the mortgage.
2. When you rent, you don't get a return on your investment; instead, your landlord benefits from writing-off the deprecation expense of the property on their Income Statement and Tax Return. However, as home prices increase and as you pay down your mortgage you build equity.
3. As you pay rent, it is more difficult to save money for the down payment needed to buy a home. Having said that, when you own your property, you build equity over the years and in turn you increase your Net Worth.
4. When you own your home, the interest portion of the mortgage is tax deductible (on the first $750K of mortgage debt).

If you are ready and able to enjoy the benefits of homeownership, you can contact me at (561 410 6018 or email - [email protected]) and we can discuss your goals and options; visit our website for other financial services provided - www.caribbeanmortgagegroup.com - .......have an awesome day!

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. I have been pre-occupied studying to become a certified Tax Preparer with the Internal Revenue Service (IRS) through H & R Block. Now that I have successfully completed the course, I can now refocus on my real estate articles.

The attached article speaks to Gen Z, however it can also apply to first time home buyers. The following are some of my suggestions for first time homebuyers regarding homeownership:
1. If you are renting or looking to rent an apartment, you can share with a roommate and split the rent and utilities thereby allowing you to save money for your down payment.
2. If it is possible and you can live longer with your parents (and help with the bills), you can save the required down payment for your purchase faster.
3. The Seller can fund the downpayment and in return they will take a second mortgage on the property. After a few years, you would have built up some equity in the property at which point you have the property appraised and hopefully you can get the Bank to refinance the mortgage and pay off the second mortgage.
4. As the article mentioned, there are many down payment assistance programs available for first time homebuyers; you can research the internet for further details.
5. You don't need a larger deposit to acquire for first home; this a common myth. For first time home buyer, you can qualify for an FHA mortgage which only requires 3.5% downpayment.....e.g. a home/condo/townhouse costing $300K, the required down payment is only $10.5K which equated to a savings of $438 pm over 24 months, very doable.

If you are disciple and serious about homeownership, the foregoing is a road map which is achievable and within reach. If you have the right strategies in place, you can turn your dream of owning your home into a reality. 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 - www.caribbeanmortgagegroup.com - for other financial services provided. If you are a US citizen/permanent resident and you need assistance/advice with your tax return, please contact........have an awesome day!

Affordable Homeownership Strategies for Gen Z The idea of owning a home has always been a big part of the American Dream.

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

If you are in the market for a home, one of your main concerns would be the issue of inflation which is still high despite the efforts of the Feds to bring it under control. My advice is if you are ready and able to afford the mortgage payment go for it for the following reasons:
1) A mortgage is the best hedge against rising inflation because your monthly payment is fixed for the duration of the term (30 or 15 years) of the mortgage. Furthermore, your mortgage is
the largest portion of your housing costs.
2) To off set rising inflation, landlords usually increase rent which does not work in your favor. Moreover, there is NO financial benefit gained by paying rent.
3) The interest on your mortgage is tax deductible.
4) By paying down on your mortgage, you acquire equity in the property over time.
5) An increase in your equity, results in a higher Net Worth.
6) You can use your equity to finance various projects e.g. fund your children's education; open a small business; buy an investment property to generate passive income.

Like I said earlier, the best hedge against rising inflation is a fixed housing cost i.e. your mortgage. If you are ready and able to become a homeowner, give me a call and I will be happy to assist and guide you with your goals.........have an awesome day!

Should You Still Buy a Home with the Latest News About Inflation? While the Federal Reserve is working hard to bring down inflation, the latest data shows the inflation rate is still high, remaining around 8%.