The Sohamy Marquina Podcast: Recent Episodes
Sohamy Marquina
Home ownership is life changing. It strengthens your sense of security and helps create legacy wealth. My name is Sohamy Marquina I am a Wife, mom and Northern Virginia REALTOR® "I make real estate simple because your time is meant to be spent with family and friends. Decorating your home and filling it with memories. " Listen to learn the benefits of home ownership and all the steps in between. I will be your guide and together we will accomplish our goals!
We’re ready! you’ve found “the one” and you want to submit an offer - one that will be simply irresistible to sellers. Here’s how to make sure your offer stands out from the rest!
Now that you have been pre approved for your mortgage and signed with a real estate agent, You're ready for the fun and sometimes daunting part: finding your dream home
Selecting and working with an agent that meets your standards of personality and work ethic will make the transaction successful and more enjoyable.
When you are considering homeownership and investigating how to get started, the mortgage is one topic that can be quite complex . Let’s chat about some mortgage basics, including loan types, mortgage lingo, the home buying process and more!
Well done! You have decided you want to become a first-time homebuyer! In order to start this process you want to begin with some financial planning. I like breaking any process into smaller steps and this one is no different. Let’s take a three-step approach to financially planning to buy your first home. I like the ABCs of preparing for a home. This is an approach that a lot of professional financial planners like to take with their clients and I have applied it to my real estate clients as well.
A is assets; making sure that you're saving enough money for the purchase of the home and all the additional costs that come along with becoming a homeowner. Assets is also in line with having an emergency fund. Depending on the complexity of your family dynamic you will determine what feels like a healthy emergency fund, as a rule of thumb you want to be able to cover about three to six months of expenses.
B is budget. Budgets do not have to be complicated color coded excel sheets while these can be lots of fun and keep you quite organized adjust them to your personality. I personally love writing mine out monthly, I feel more connected to my finances when I write them out. Keep track of how much your expenses are, how much your income is and what the difference between those two things is. This step will really help you determine how much you can pay monthly for a home and still have money left over to pay your bills, other debt, and contribute to your savings account.
And C is credit. Paying attention to your credit score is a very important part of securing a home loan, ensure that you're paying off your debt, or at least paying it down consistently, and making sure that you're utilizing your credit very wisely.
There are many options for all kinds of financials and lifestyle preferences. Lenders like to use a range of 36%-41% DTI (debt to income) ratios but you will have to ultimately make the decision of what works best for your lifestyle!
Today is the beginning of my second year in business. Looking back I’ve learned many lessons over the years. I have chosen 6 of my favorite business lessons. These lessons helped me build a successful real estate business that aligns with the life that I’ve worked so hard to achieve. A life of balance and simplicity while still feeling successful and producing results in my career.
For some of us, purchasing a home will be the biggest purchase of our lives. The first time you buy a home it will feel like a maze.The best way to experience and enjoy the home buying process is breaking it down into smaller steps. The following questions will help you decide how to proceed? Do you have two years of consistent income? Do you want to live in Virginia for the next couple of years? Are you comfortable managing debt and what is your credit score? Do you have a savings account with an emergency fund? Do you have enough cash or liquid assets (401k or investments) for a down payment? Do you know how much you can afford monthly on a house payment? Are you willing to make some sacrifices to become a homeowner? Your answer to the above questions will help you determine if you are ready for home ownership!
There are many reasons I chose real estate as a career path, most importantly that I want to prepare families to have all the necessary tools to buy and sell a home smoothly. I help families find and enjoy a place that gives them that same feeling and security that I found. I pride myself on being a problem solver, being quick to deliver and respond, and I go above and beyond what's expected. In real estate, communication is key. With over 12 years of Business Management and customer service dedication, my priority is to fully understand my client's needs so I can tailor my services to match their personal goals. I cannot wait to do that for you because memories are priceless. In this episode we explore the benefits of becoming a homeowner. There are several benefits to owning a home my favorite is emotionally having a place you can truly call yours. A family home becomes an anchor to the unit and gives all its members a sense of security. Having the freedom to make changes inside and out and not having to answer to anyone but yourself. In today’s Northern Virginia market, it usually cost less to own than to rent and the payment you make every month is contributing to your personal net worth. Your net worth will grow in two ways, one is appreciation of your home's increased value over time. The second is mortgage tax deductions because home ownership is a great tax shelter and tax rates always favor homeowners. Another benefit of home ownership if done responsibly is that you can leverage a home to accomplish things such as remodels, college education or small business startups. The icing on the cake is that when you purchase a home you are no longer paying for someone else's mortgage and therefore you are leveraging your home to create legacy wealth. Legacy wealth is accompanied with knowledge. When parents own a home, it is almost inherent that their children will too. If you come from a family of renters, it is what you believe to be the normal succession to life, therefore there are no conversations about homeownership and what you need to acquire a home of your own. It's important for me to help you gain knowledge about the different resources available for first time home buyers. Programs that give down payment assistance and income-based assistance too. Another factor that is extremely important in order to own a home is your credit. This little number should be monitored and protected. Paying bills on time and not overextending ourselves with debt are the building blocks to a healthy credit score. I usually refer to home ownership as a process because there are steps needed to accomplish the goal of owning your own home. Do not allow uncertainty or fear stop you from sitting down with me for an in-depth conversation about what you need in order to get to that finish line. Knowing when you are ready to make the leap and buy your first home is not easy if you don’t have a well-structured plan. I want to reassure you that I will be your guide through it all and together we will learn and break down any barriers that may present because owning a home is a life changing opportunity. In the coming years home buyer’s demographics will change in Northern Virginia, education is key to making home ownership a reality. Next time I will be exploring the very popular question… Am I ready for home ownership? Book a consultation with me today! Let's get started. If you want tips in between episodes follow me on Instagram @sohamymarquina. If you are ready to take action and become a homeowner visit www.sohamymarquina.com or email me at soldbysohamy@gmail.com Thank you for tuning in and listening!