By Roy Nash, President/CEO

As an organization, we are now well into our 31st year of doing business in the Central Texas area. Never has it been more important for each of us to plan for our financial future. Everything is getting more expensive, and salaries and hourly wages are not keeping up with it all. For most of us, housing costs lead the way as far as being the most expensive part of our monthly budgets. And then you can add on insurance, taxes, utilities, maintenance, and other costs that really can cause housing to increase dramatically in our monthly expenses. Where does it all end? 

Unfortunately, increases in housing costs will always be with us. And that is why we should all try to lock in a fixed-rate mortgage with our housing purchase. If the interest rates are higher, like today’s interest rates, you can always refinance when the rates drop to a more acceptable level. Some mortgage companies even allow you to refinance at a small flat fee rather than having to do a full-out closing with most of the costs associated with the initial closing. 

During my experience in real estate and homeownership, I have seen a significant market correction (decrease) in housing costs every 25 years. We had the savings and loan crises in 1985, and then the foreclosure crises in 2010. With that being the case, our next significant market correction will come in 2035. In the meantime, those wanting to become homeowners should be actively getting their finances in order to be able to purchase their first home. The longer you wait, the more you’re going to pay! 

We, as an organization, are proud of the work we do to assist families in becoming self-sufficient with their housing needs and costs. Proper planning and education are so important to make that happen. We continue to stand ready to serve our Central Texas Communities to make that happen, now and in the future!