Living in the Greater Seattle since the late 90s has afforded me the opportunity to watch what was once known as “that place Sleepless in Seattle was filmed” and the home of Nirvana transform in to a new mecca for the tech industry. Seattle and the surrounding areas North and South, specifically Everett, Renton and Tacoma have been transitioning from cities of manufacturing to cities of imagination and technology.

As an adult, was able to grow as the area has grown… from working in sales and retail to working in tech and real estate. The concept of working from home is something I sought and found and has gone from a unique work environment to more of a standard in today’s world. Yes, as a young man there was a draw to live in the city, close to all the fun and life. Belltown and Capitol Hill was were you wanted to be close to. Food, fun and friends.

And yet… when I searched for my first home, I knew that this is not where I could afford to live. So I moved to Silver Lake in South Everett. I was able to afford a bigger house with more room for my family and I to grow in to. And now, as my career has required even more space for a home office and us expecting the birth of our first child, I am happy we made the choice to live in the suburbs.

Seattle no longer owns the only place where you can find food, friends and fun. Suburban neighborhoods have grown. People are willing to commute just a little bit in order to enjoy more space when they get home.

Are you weighing the pros and cons? Let’s talk and make sure we find the right situation for you and your future.

“I want to buy a house but I can’t afford to pay a mortgage”

“The market is crazy and everybody is getting priced out”

“I’ll wait for the bubble to burst.”

“I have to work on my credit first”

“I don’t have enough for a down payment”

“I can’t compete”

Have you had any of these thoughts creep in to your mind? Maybe instead of creep, do these thoughts yell at you when you think of buying your first home? How hopeless is it? Are any of these questions even relevant to you today? You will never know if you don’t ask. And this is not a solution that comes from within. This is not something you can take a deep breath on and get the answer to. Asking yourself these questions and looking for a positive response is an exercise in insanity.

So what next?

Ask a professional! Reading headlines, discussing with friends and family in similar situations can lead to a vicious cycle of negativity. And then you’re paralyzed.

Instead why don’t you try this:

Talk to somebody who can give you an actual answer.

Assemble your team to get you what you want. Believe it or not there are people out there whose purpose is to help others get in to homes. People who want to look out for the best interest of their circle and those who choose to reach out.

And yes… I am one of those people.

This starts with a consultation. A conversation. A chat. Don’t worry. This is all about asking you about where you are and setting in motion steps in buying your first home… if that is what YOU want. I’ll use my knowledge as a former mortgage professional to ask you questions about your current financial situation (credit score, debt, savings, income, time in job, etc.). Rest assured that this will be painless and without judgement or prejudice. Through this session I can help you determine your next steps and even connect you with current mortgage professionals who can help you in your qualification process. And this will feel stress-free. One of the superpowers I have honed through my consultative background is gathering information without you feeling “sold to” or like just “the next transaction.” We’re just going to talk. The next steps will be yours to take, but you won’t have to be alone any more. And even better… we can do this via web!

It’s absolutely OK and even healthy to read articles about the current housing market. This is especially true when you are determining whether you will be jumping in to the foray yourself! Just keep in mind that there are markets within markets and have knowledge and experience within these markets is what will be most relevant to you. Let me help with this as your hyper local real estate resource.

Remember… it all starts with a chat. =)

When you are ready to get answers to YOUR questions and want somebody to be in your corner, let me be the first person on your team. Let me help you assemble your team and I promise we will work together for you.

Ready to take that first step? Send me a DM and we will get you going.

You’ve done it! You have taken the first steps in buying your home and have gotten prequalified by a trusted mortgage professional. You have gone out and started looking at homes online and maybe even toured a few you were interested in. Maybe you even have an offer that has gotten accepted and are now working toward CLOSING on your home!!!

All of these are reasons to celebrate. You have done the work and are approaching a huge milestone.

*If any of these are on the horizon, make sure you discuss with your real estate agent AND your mortgage professional to see how/if they affect you.

1. Job Change – There are times when opportunities come up and you may want to jump because the timing seems to work out. You are about to buy a house AND get a better job? JACKPOT!

BUT

• If the job is in a different profession/field/career than what you are currently doing, this can affect your pre-qualification.
• Lending institutions typically look at 2 years of income as a basic requirement for their loans.
• Even if the new job pays you MORE, this could negatively affect your loan

2. Open New Credit – you want to buy new furniture, gym equipment, kitchen appliances or a car for your new home and new life. And there is low/zero % financing program? SIGN ME UP!

BUT

• Opening new accounts can impact your credit score which can impact your rate.
• New accounts can even affect the type of loan program you qualify for.
• New accounts opened during the process of buying a home can look like a red flag for lenders

3. Closing Old Credit Accounts

• • Similar to the example above this can have all the same effects as opening new credit.

4. Receiving out of the ordinary large deposits

• • Remember that when lending institutions look at your financial picture and approve you for your loan, they approve you based on the picture they have at the time. If you change the picture during the process, that could be a red flag.
  • Also remember that “gift money” can be accepted for different loan programs but the amount and maturity (time in your account) can vary depending on the program.

These are the major moves to AVOID. If you feel like you might make any of these mistakes,

TALK TO YOUR LENDER FIRST.

Don’t end up a real estate meme. You’re better than that. Especially now that you have read this!

Have more questions? Reach out and let’s chat!

Did you read the title? Then you might assume that my answer as a real estate professional will always be BUY, BUY, BUY. And you would almost be right. Why almost? Keep reading!

The reason why my answer may not always be BUY has everything to do with what is right for you and those who rely on you. Will buying a home put you in a difficult financial position unnecessarily? Are there specific circumstances that would prevent you from being able to commit to buying a home? Let’s take a look at some of the reasons why it might be better for you to rent for now.

1. Uncertainty with regard to future income – are you looking at changing careers soon which may negatively impact your income? Are you going to take an initial step back to switch careers? Is your company going through expected down-sizing and you are unsure about your status?

• If you answered “YES” to any of these then it might be right to pause your home buying process. The money you have in reserves (savings/investments) may be more important as a safety net than in a home.
• A “YES” to any of these questions is usually a TEMPORARY situation. Keep reading to see why BUYING when you have clarity on your situation is important. HINT: it’s all about your long-term financial health and wealth.

2. Expected Life Change – will you be moving away from the area you would like to buy in soon? Will you be getting married? Are you expecting an addition to your family imminently?

• Let’s tackle the first situation – if you know you will be moving away in less time than a full rental lease period, then it may not make sense to purchase a home. Keep in mind that if you have to SELL a property there are costs that may affect your equity gains. The caveat: if you want to be able to purchase a home and then convert the property into an investment, then the answer may still be to BUY.
• You are getting married (congratulations!) – you are planning your wedding and currently rent (with or without your significant other). If the stress from the wedding is consuming your life and you don’t feel like you can tackle another major life event, its OK! The financial and emotional rigors of wedding planning can take a toll on individuals and on the relationship itself (by the way… I do know one of THE BEST wedding and event planners in the Greater Seattle Area). We can still chat and plan to plan after your special day =)
• You are expecting and addition to your family CONGRATULATIONS! – I am an unapologetically proud girl-dad and find joy in welcoming any new addition to the lives of those around me. If you are currently in a place that can accommodate you AND your little one/s, then go ahead! Rent for now! This also brings along potential financial adjustments and you may want to assess those before jumping in to your home.

3. Your current living situation is ideal AND financially beneficial
   • Are you living at a family member’s rental unit with well below-market rent? You have your own space and have no upcoming life changes that would change the agreement. Then by all means keep renting!

BUT…

Now we look at why it would still be beneficial to BUY even when it means some sacrifices in life style.

1. You start building equity – The Greater Seattle housing market has appreciated an average of 9% every year over the past XXXX years. This means that the sooner you purchase your home, the sooner you get to start building that equity.
2. This also means that the longer you wait there is a likelihood that the same home will cost you more.

• That $600,000 house could cost $654,000 next year.
• Every $10,000 in price is about $60/month in mortgage payments
• You are paying somebody else’s mortgage instead of your own. – Yes, this is obvious but should not be left assumed. Now it’s stated.
• You are missing out on tax deductions – have you talked to a CPA recently? If you are a well earning person and have zero or minimal deductions, they have probably already recommended that you purchase a home so you can at least gain some deductions on your income while also controlling an appreciating asset.

You really CAN BUY but just need someone to help you – ENTER Charles Dizon!

• • Yes this is tongue-in-cheek but it does not make it any less true.
  • If all you need is someone to manage the process and find you your home, I can do that while taking as much stress away from the process as possible.

I want whatever is best for YOU. If you have read through this and none of the examples I have shared speak to you, then maybe it’s TIME TO REACH OUT. At worst we will have a great conversation. At best we get you started towards building your financial future.

Like what you read? Reply to this and tell me what you think.  Did I miss any more examples? Tell me more!