Speed Realty

Be honest: which one do you need most right now?

I'm hands down taking take-out for dinner!

Of all the things I’ve lost, I miss 3% interest rates the most 🥹

But here are 3 things I'm LOVING about today's market and how you can make it work for YOU!

1. Selling your house when inventory remains low is the BEST time to sell! Less competition with sellers= better offers from buyers!

2. Renting is still typically higher than making a mortgage payment. And while it's not always fun making a payment each month with a higher interest rate, if it's still costing less than renting AND you're able to make that money back and then some when you sell one day, it's a win!

3. Experts think mortgage rates will trend down this year as inflation begins to trend down, too. So does this mean you should wait to buy a house? No!

Because the lower the rates are, the more likely home prices are to be higher. So, as long as you can afford your monthly payment, you're better off buying something while the rates are currently a little higher (and prices aren't quite so high) and refinancing when rates drop to a rate you're more comfortable with!

Still have questions? I get it! Let’s grab coffee and I can answer your questions 1 on 1 so you are confident with your next steps!

DAY 5: AUTOMATE IT 💰

As we wrap up our savings challenge, it's important to remember WHY you made this savings goal...especially if your goal is to buy your first house.

What's your why? Is it to host family gatherings and sit around the table playing dominoes? Or is it to finally get a blue eyed Aussie and play fetch in your own backyard? Maybe it's to start a family and raise your babies in a place of your own and track their height at the end of the upstairs hallway.

Keep that WHY close. Write it on a sticky note and stick it on your desk or bathroom mirror - wherever you'll see it daily. This will keep what matters most in clear focus so that on the days it's hard to keep going with your goals, you'll be filled with clarity and press on towards your savings goals!

The most simple way to make sure your money saving goal sticks: make it automatic!

Setting up automatic savings is like built in accountability because it forces you to save a specific amount of money without having to think about it.

Treat it like a monthly expense or bill and you'll be able to start seeing traction quickly! 📈 Ask your bank about their high interest savings account options and see if they offer some kind of automated tool or dashboard that shows your spending and saving in real time!

Putting your savings on autopilot will help keep your goals on track even on the days you don't feel like sticking with your plan!

DAY 3: CHECK YOUR CREDIT SCORE (Don't forget to go back to days one and two if you're behind!)

Today is especially important if you're saving for a home. Your credit score will impact what type of loan you can get approved for, how much you have to put down, the interest rate you'll lock in your mortgage at and how much house you can afford to purchase based on your debt to income ratio.

Not saving for a home? No sweat! It's still a good idea to keep tabs on your current credit score...there may be things you can do now to improve your score for when you're ready to purchase something big like a car or a home in the future!

Anyway, after learning your current credit score, you can make a plan to increase that number and / or pay down debt that is contributing to that score.

Bonus Tip: Set yourself up with an account like EXPERIAN to protect your credit score and keep close tabs on where it's at!

How are you doing with the challenge so far? You're more than half way through and several steps closer to your goal!! Keep it up!

DAY 2: ANALYZE YOUR SPENDING HABITS (Look back at Day 1 in case you missed it)

It's time to take a look at your last 30 days of spending and analyze your expenses! Highlight unnecessary expenses and determine what you can eliminate.

(Remember, this isn't for forever, this is just until you meet your goal...so don't hesitate making your goal "no unnecessary Target trips" because it's only temporary...you'll be back to shopping Hearth and Hand with Starbucks in tow in no time!)

You can print off your bank & credit card statements & go through them with an actual highlighter when you see something you didn't need to buy or an "extra" expense. Or you can do it digitally and create a Google Sheet list of those specific items and what they added up to.

This will give you a good glimpse into where your money is going that wasn't necessarily planned and can help you eliminate similar expenses now so you can instead funnel that money into savings for whatever your Day 1 goal was!