Reassessment time for home owners

What is happening in your residential world? How are you seeing the residential prices?

It seems the media has us all being unemployed by September and unable to survive, or at best, not being able to pay our mortgage.

It’s very interesting to get a glimpse of other people’s perspective.  Yes, there is unemployment and there are financial issues that need to be addressed, and yes we are seeing a slow-down in some sectors of the market, however it doesn’t mean the market has or will take a massive decline. In fact, if cards are played well, then there is absolutely no need for the housing market to spiral out of control with homes around the country having little value.

We all have choices to make and the ability to make good choices is partly dictated by what information we choose to surround ourselves with. While there certainly is hurt being felt, I have been working with many business people who are planning and scaling their businesses, this will definitely require employment and sizable amounts of. They are currently in the midst of planning and preparing for re-open, so have used their time well. They understand that there is opportunity in these times and now is the time to plan. How have you been spending your time?

When you can generate employment, people gain certainty, humans are creatures of habit, and although the general population has been shaken by all of this, there are still things that everyone is looking forward to. Employment will change, you may not be in the same job, however the world is not ending, simply pivoting into a different phase.

For all investors it is time to work with sellers on a win win scenario, to buy at fair prices, be the solution and achieve great investments. There is no need to wait to be the vulture.

For home owners, it is definitely time to reassess.  How is your employment status? If you are currently not employed then consider what you want to be doing, can you reskill, upskill and move into a different phase of your career? If you are employed, are you commuting? Can you work remotely? Either way, is your current home serving your overall needs at the moment?

If you think moving is impossible due to having to refinance, look at houses that meet your current needs, can you save money by moving? Have you considered talking to a broker or bank about porting your loan? This could allow you to move without issue, you could be in a better position and if things tighten you are not in a situation where you are forced to under sell.

Until next time, enjoy stepping into the next phase.

Melissa