Take the Smart Perspective When Buying a House – A BorrowSMART Strategy

To be sure you make the smartest decisions when buying a new house, it is important that you go into the process with the right perspective.  We call this the “House vs. Home Perspective”.  At Aspire Mortgage Group, this is part of our unique BorrowSMART Conversation™ and it goes like this:

House vs HomeWhen you hear the word “home,” what kind of thoughts or words come to mind?  Take a moment and you may think of things like:

■ Family                                           ■ Relaxation

■ Hobbies                                         ■ Privacy

■ Friends                                          ■ Freedom

■ Neighbors                                      ■ Security

What do these words all share in common?  That’s right!  They focus on the “emotional” aspects of having a home, or the experiences you will have once you are in a house.

Now, think of the word “house”.  What comes to mind?

■ Appreciation                                          ■ Place to Work

■ Tax Benefits                                           ■ Leverage

■ Diversification                                       ■ Credit

■ Collateral                                                ■ Mortgage

The word “house” tends to reflect the “logical” side of owning real estate, or the house as a physical shelter and an investment.

In comparing the two perspectives, which one do you think we, as your mortgage advisors, have the most impact on?  You got it…the logical, or “house” side of things.  With this new perspective in mind, it is easy to ask our clients permission to keep our focus on the logical, investment aspects of buying and owning real estate.

At the same time, we understand how emotional the process of buying a new home can be, and that many people tend to make financial decisions with far too much emotion involved.  Knowing the problems this can lead to, we also act as an accountability partner to our clients in keeping them focused on making smart financial decisions when investing in real estate.

Now that you have the right perspective when buying a house, be on the lookout for the next BorrowSMART Strategy™.

About Trevor Hammond

Since 1998, Trevor Hammond has helped thousands of families finance their homes and make smart decisions when it comes to their personal finances. Now, as a sought-after mortgage advisor, coach, speaker, and author, Trevor Hammond continues to focus on helping people enjoy more money, less stress, and more life. As the co-author of Borrow Smart, Repay Smart and his 2018 follow up book, Mortgages, Money and Life, Trevor has created unique financial coaching programs and spoken in front of thousands of people on his book concepts ranging from improving cash flow and savings, managing liabilities, to advanced real estate financing strategies for homeowners. His passion for providing financial education and his ability to innovate unique processes that help both clients and originators excel, has led Trevor to become a top producer and build a #1 branch in the country for mortgage lending company Sierra Pacific Mortgage. Whether Trevor is speaking to hundreds of people from the stage, working on his next book or mentoring a Loan Officer one-on-one as a High Trust™ Leader, he is pursuing his greatest passion of all: Coaching.
This entry was posted in Blind Spot 1: Developing a Plan, Blind Spot 2: Increasing Fiscal Literacy and tagged , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply