NEW YORK, NY / ACCESSWIRE / February 21, 2022 / Contrary to the public perception, the housing market has been booming in the past few years despite the pandemic. Most homeowners have seen a 30-40% increase in home values the last few years and are sitting on a lot of equity. With that being said, the interest rates have been very low and most people have secured a low interest rate to keep their monthly income as low as possible. The principle that always seems to be true throughout the years is that home ownership is always the path to attain financial freedom or relief. With home owners sitting on a large nest egg now, some for the first time ever, the question becomes what they should do with it that will help them both now and in the future. Groves Capital is helping homeowners in this position find the right steps for them.
Groves Capital is a family owned business that helps people find the right mortgage options for them. The business has the ability to broker or be the actual lender using 120 different lending platforms, which helps them assist customers with their goals when it comes to the best product and rates.
With so many pieces that go into the housing market and finding the right plan for the buyer, Chris and Aleyna are sharing with readers the tools that they think can help make homeowner's lives a bit easier.
The first thing that they recommend is paying off any debt that homeowners have accumulated. This can be debt ranging from credit card debt to student loans. Paying off debt allows for a reduction in your monthly nut, and paying lower interest rates due to low home interest rates will help homeowners save a lot of money that then isn't going towards the principal amount of the debt.
Their second piece of advice is investing in energy saving items for your house and for your items. This can include solar panels, electric cars, and other items. Though this can be an expensive up front payment, in the end, it ends up saving money by reducing costs on other fronts. This topic goes towards their third and final major piece of advice: leveraging your assets.
Leveraging assets can be a game changer, as long as you make sure you keep reserves for that rainy day or drought year. Groves Capital founders, Chris and Aleyna Groves, explain why this is such a good plan:
"We have a lot of clients using their equity to buy more property, such as an investment property, which they can rent out and have another source of income. This is one of the best ways to leverage in my opinion because you have created another basket to increase revenue and have tax shelters to lower your net income and save more on taxes, while making more income, which is the ultimate win. The other way to leverage the appreciation would be using the gained equity and putting those funds in the markets in the form of bonds, stocks, and money market accounts. When money just sits there but isn't making you more money, it's a big waste of an economic opportunity," Chris and Aleyna explain.
To find out more about Groves Capital and their business, check out their website here.
CONTACT:
Paula Henderson
561-768-4444
phendersonnews@gmail.com
SOURCE: Groves Capital
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