As 2015 begins, it's important to get all of your affairs in order. Starting with a clean slate is important, but cleaning your slate is a tall order. One of the most important items to get together is your Austin real estate portfolio. What to look at, what to avoid, what to simply ignore. With a tremendous amount of opinions being thrown at you from realtors, family, and friends, it is very easy to get overwhelmed.
At Pauly Presley Realty, we've heard a lot of advice. We've also given a lot of advice to potential homebuyers and investors in the greater Austin area. Real estate is often the most important investment that a family will make. You don't want to make any mistakes or else drastic consequences can happen. But there is one thing that we very much attempt to avoid when giving or receiving advice and we believe it could be toxic:
Don't invest in real estate.
While we're biased for investing in real estate, we firmly believe that it is irresponsible to avoid it at all costs. There are better times in your life where you can invest, but it is crucial that the words "homebuying" and "real estate" not become one of the dirty words in your life. It can be pricey, but a home is a home.
Depending on what your status is, an investment in Austin area real estate can increase your financial value. Even if you are not in a space where you can safely invest, it is important to project where and when you might think about owning a home. While renting is good for the short term, will you want to be renting when you are 30? 40? 90? Or will you want a space you can count on as a rock of both financial and emotional stability in your life?
By setting those goal posts of when you may want to own a home, you will be able to manage your finances in a way to make those goals achievable. While it is a significant investment, by forecasting for your personal life, you will be able to meet the loftiest goals. The realtors at Pauly Presley can very much help you with real estate plans. Speaking with a financial advisor can also put your life on track for where you want to be AND where you need to be.
As 2015 begins, set your goals high and achieve them. You are the one driving your life and you are the one that can make those goals achievable.