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Brett Schlieker Realty with Homes of Idaho

Things to ponder during

Financial Troubles

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Is your home dragging you down?

For many, a home and/or mortgage obligation can represent an enormous financial struggle, emotional burden, and time consumer – but it can also represent a tremendous store of potential value. And we’ll discuss these two popular positions here.

Financial Stress

Mortgage is just too big

A home represents the single largest investment most people make in their lifetime. And it isn’t uncommon for most Americans to assume a higher mortgage than they can comfortably afford. They often pin their hopes on inflation, employment stability, future income growth, and the payoff of other debts (like student loans) which would make a house payment more bearable as time goes on.

Even if the plan goes generally as planned many mortgage payments still find themselves adding tremendous financial pressure with each passing year. A tough mortgage payment will strain bank accounts, credit, time with family, and even a marriage. So, it’s not hard to imagine what happens when things don’t go according to plan. And here is where acting quickly may benefit you.

First, you need to remember that homes are sometimes slow-moving investments. Both in appreciation and in liquidation – homes are not like stocks that you can sell in the morning and have the funds in your bank account in the next 1 to 3 days. So if you sense trouble on the horizon, talking with a REALTOR® to understand the timeline involved may be key in mitigating any serious financial stress and concern.

Rule of Thumb

Many financial planners suggest that your house payment ought not exceed 25% of your household income. Yet, most lenders recommend that your house payment ought not exceed 36% of your household income – and the average household finds itself near or above this limit with many in higher-end homes teetering close to 45%.

Equity and Other DebtEquity and Other Debt

There’s a great chance your home has built up equity through the years. For some, it’s tempting to use these funds to pay off high-interest debt, roll the funds over into less expensive home, or live out a dream like going back to school or traveling the world. When you find yourself in a position of not having to sell out of pressure or necessity, it’s sometimes easy to procrastinate on the discussion – but since you’re here, you might be closer than ever in exploring this opportunity. Here again is where speaking directly with a local REALTOR® may provide you with information on what your home is actually worth, an estimated timeline, and answer any of your questions that may help you understand the road ahead.

Brett Schlieker

Brett Schlieker

Associate Broker & GRI

208.250.8807

brett@schliekerrealty.com

www.SchliekerRealty.com

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Service Area

Boise, Idaho – As the fastest growing metropolitan area in the country, the Treasure Valley is simply exploding in growth – a fact you probably face with every morning and afternoon commute. While much of this growth has primarily affected Boise, Meridian, and Nampa, the growth finds itself even spilling into communities such as Middleton, Kuna, and Caldwell.

Homes of Idaho

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Your Local Real Estate Expert

Brett Schlieker

Brett Schlieker

Brett Schlieker

Associate Broker & GRI

208.250.8807

brett@schliekerrealty.com

www.SchliekerRealty.com

I have lived in the Treasure Valley for 20+ years and I believe it to be the best part of the country. I know what it’s like to relocate to a different town, county, state and most of all a new home. Originally from Colorado I have been in your shoes. The stress, anxiety and the fear of the unknown is a lot to take on. Life changing decisions have to be made in a swift and timely manner. I will assist you thru relocation with stress free personal service. I have always been known for going the extra mile! Let me earn your trust, your business and most importantly your friendship.

As a Homes of Idaho agent who’s an expert in this local area, I pride myself on offering superior personal service before, during and after your transaction. Knowledge, commitment, honesty, expertise and professionalism are the cornerstone of my business. It’s not the same everywhere, so you need someone you can trust for up-to-date information. At Homes of Idaho we believe in providing First-Class Service through our technologically advanced office and systems. Our licensed and trained agents have decades of accumulated service. Our Broker is a very customer centric person, so the customer always comes first!

When Looking For Your Next Home:
You need someone who knows the area inside and out! I work with you to find the right home at the right price for you, including all the neighborhood amenities that matter – not to mention the essential criteria you have for your ideal home. I bring a wealth of knowledge and expertise about buying and selling Real Estate here in the Treasure Valley. I look forward to making your property dreams come true!