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You don’t live in the price, you live in the payments

I learned that line from Brian Buffini.

Facts are facts, and when real estate prices are negotiated for a purchase and sale agreement, many buyers place far too much emphasis on the sales price, and not on the amortization of their mortgage, and the budgeting of the monthly payment.

Many went broke because they amortized too much, too riskily. I’m not suggesting that you spend money that you don’t have!

Today, I’m suggesting that some of you could invest an extra $200-300 per month in your peace of mind, your convenience, your pleasure – whatever it is that makes you happier, just by analyzing residential real estate affordability and by being mindful of exactly what you may be missing in a new house, condo, townhome or loft, all because you don’t want to spend over a certain dollar amount on a residence.

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If anyone in 2011 is still trying to sell you on the “American Dream” just counter them and tell them that The Intown Insider is right – residential real estate is a “use asset” much like a car.

This link will take you to one writer’s version of the “Top 5 Reasons to invest in real estate instead of paper assets.”

In addition to the writer’s top 5, I suggest that “usefulness” is another remarkable reason to invest in real estate.

So…

Think about usefulness when you have a feeling that a certain property is out of reach, or when you have a blockage that is halting your ability to get what you want, or when you are stuck looking at houses in a price range that is not yielding the results that you want.

If you are crestfallen and forlorn over the weak results in a certain real estate price range, remember that you really don’t live in the price, you live, month to month, in those payments.

Today, and for months ahead, real estate affordability will be at an all time high. The “use asset” that is exactly right for you may be $50,000 more at closing, but only another $200.00-300.00 per month, month after month, over 360 amortized payments…can you live with that, or is it too big a trade off? Simple, right?

These decisions will be easier while interest rates remain so low.

What else were you going to do with the $2400-3600 per year??? Why don’t you go ahead and get your real estate on?!?

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