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

As a veteran of the mortgage industry, Trevor Hammond is the co-author of "Borrow Smart, Retire Rich," a Certified Mortgage Adviser and a founding Faculty Member and Contributor to the National Institute of Financial Education (www.niofe.org). And he has provided thousands of homeowners with the clarity and confidence to make smarter decisions when it comes to their mortgages and money. In 2013 he launched an entirely new kind of mortgage company: Aspire Mortgage Group, which is committed to educating and empowering homeowners to increase savings, eliminate bad debt, and safely increase net worth. The specialized group of mortgage professionals at Aspire Mortgage Group have redefined what homeowners should expect from a mortgage company. To learn more about Trevor Hammond and our team of mortgage advisors please visit our website at www.aspiremortgagegroup.com or email Trevor directly: trevor.hammond@sierrapacificmortgage.com. Aspire Mortgage is a Sierra Pacific Mortgage Partner.
This entry was posted in Blind Spot 1: Developing a Plan, Blind Spot 2: Increasing Fiscal Literacy and tagged , , , , , , , , , , , , . Bookmark the permalink.

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