It’s February, the shortest month of the year with the chilliest of temperatures. During these dreary days, it can be enticing to hunker down and embrace the bleakness, and just wait for spring to arrive. But even though the weather is not optimal, this February offers many reasons to celebrate, such as Black History Month, Lunar New Year, Groundhog Day, Valentine’s Day, and President’s Day. These events make it the perfect time for reflection—and there’s a lot to think back on, considering the whirlwind year 2021 turned out to be.
February is also a great time to take inventory on where your life is headed—and where you want it to go. That said, it’s important to take time this month to revisit the goals we created at the beginning of the year and the actions that need to happen to achieve your goals. More importantly, to put those goals in the context of 2022.
If you’re like many people, homeownership might be a goal and you’re looking at 2022 as the year you buy your first home—or possibly your second or third. Perhaps this decision is based on a desire for a lifestyle change or simply a better neighborhood in which to live. Maybe you want to get your kids into a particular school district, or you’re just looking for different scenery.
Regardless of the reason, February is the perfect time to assess whether you are safely on the path to achieving your goals. One great potential goal is to build wealth and optimize your assets, whether through buying or investing in real estate or consolidating your debt. The current economic environment is one that can really afford individuals and their families the opportunity to get on a path to financial independence.
Owning a home provides a sense of security and a feeling of belonging by bringing communities together. But make no mistake, the timing of your purchase is important. February 2022 may well be pivotal in this regard. It’s the month when the weather begins to climb out of the winter doldrums. The sun is brighter, and longer days signal that spring is coming soon. This year it also signals that interest rates are rising, and your credit cards will cost more each month, and the value in your house may rise significantly. Leverage the opportunity that abounds this February and make your financial life better through leveraging the housing market to your benefit.
So, while your instincts may be telling you to hunker down and stream your favorite TV shows, a more productive use of your time is to revisit your goals and set out the actions needed to take you where you want your life to go. If your year got off to a rough start, or you found yourself slipping on the goals you made, now is the time to make corrections to ensure you’re on the right path to improving your financial health.
If buying a new home or refinancing your current home and to consolidate debt and lower your household’s monthly costs is your goal this year, we’re ready to embark on this exciting journey with you. We at Freedom Mortgage are always here to help.
Stanley C. Middleman
Freedom Mortgage Corporation