Oprah was asked once whats the best part of being rich and she responded "owning property." That totally changed my mindset in terms of my financial plan to accumulate wealth. Therefore, when I walked out of the lawyers office after signing my closing documents I put together a plan to own my home as quick as possible. I was so motivated to experience ownership of something that appreciated in terms of value. Therefore, I wanted to share a few steps to owning your home:
1) Immediately get set up on a biweekly plan. This could save 5 to 6 years and tons of interest.
2) As you get a pay increase, bonus, or extra funds pay additional on the principal. It's worth it. For me the extra shopping I gave up was worth the future reward of ownership.
3) When rates are low refinance. Beware not to increase your years left on the mortgage so specify you only want a lower interest and payment if possible. The extra savings is additional you could use towards the principal of the home.
These simple steps can reduce a 30 year mortgage to 10 or 15 years. Now add that number to your current age and determine if it's worth it.
Well thank you for taking time to read and as always I appreciate your support!
Top & skirt: old
Shoes: Vince Cumuto (I am loving current season here)
bag: lucky brand: leather one here