Let’s start with a short quiz to see how well you know the
cost of living these days. Write down how
much each of these items cost:
1. Milk
2. Gas
3. Shoes
4. Health Insurance
5. Rent
The answer key is below, so you can scroll down and check
and see how you did. You are now
probably wondering why a mortgage broker would be asking about the price of
gas. The purpose of this short exercise is
to see if your answer are small, affordable, unintimidating numbers. Chances are they probably are small numbers
and you did not add up the total cost over your lifetime, or more pointedly, 30
years. You are probably seeing where I am going with this exercise. It is no
different to how your Buyers want to buy a home.
Buyers are often told their home is their largest expense,
when in fact it, is usually their best performing investment (that is for a
different blog). Based on our experience, when a Buyer learns the monthly cost
of a home, that is when they end up buying. Buyers know what they can afford
each month. Sometimes mortgages can end
up being less than they are paying in rent or just a few dollars more each
month to invest in their future.
At Lord Mortgage our goal is to synergistically help you sell
more homes and we have NUMEROUS ways to help you accomplish this. Contact us
today and we would love to partner with you on presenting buying options to
your buyers that appeal to remain within their budget. The best way for us to
accomplish this is to consistently and constantly offer the lowest mortgage
rates in PA and helping our Realtor partners show their buyers the
affordability of buying a home.
Milk $7,800
Gas $55,380
Shoes $18,600
Health Insurance $36,170
Rent $432,000
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