{"id":1680,"date":"2018-02-09T03:00:42","date_gmt":"2018-02-09T09:00:42","guid":{"rendered":"http:\/\/kerryaclark.com\/?p=1680"},"modified":"2018-09-05T18:24:37","modified_gmt":"2018-09-05T23:24:37","slug":"you-have-shares-in-your-property","status":"publish","type":"post","link":"https:\/\/www.kerryaclark.com\/blog\/you-have-shares-in-your-property\/","title":{"rendered":"You Have Shares in Your Property"},"content":{"rendered":"

The 5 Basic Financial Categories – Part 6<\/span><\/h2>\n

Let me take you on a journey. \u00a0Do you know anyone who\u2019s ever purchased a home, but lost it. \u00a0That was my story and we\u2019ve discovered that\u2019s the story of many. \u00a0Most [that means the majority] will never see the day that their mortgage is paid in full. \u00a0When we discovered this sobering truth we decided to seek a different way to live.<\/span>
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\n<\/span>I have this question; whose job is it to teach us the business of buying and acquiring a home? \u00a0I wish there was a DIY life manual for the business of running our life. \u00a0Well, I have good news; that\u2019s exactly what we\u2019re doing at kerryaclark.com<\/a>. \u00a0In today\u2019s article, we discuss the 5th basic financial category found in the Mint app<\/a><\/span>: property.<\/span>
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No one ever taught me the value of having property and what that property can do for you. \u00a0We simply thought we needed a nice place to live and hopefully one day own. \u00a0Mint<\/a><\/span>\u00a0gave us a different image. \u00a0It asked us to not just include our mortgage, the debt we owe, but the property itself so that it could calculate and asses the value of our home against the mortgage. \u00a0<\/span>
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\n<\/span>Owning Your Home<\/b>
\n<\/b>Getting a home isn\u2019t just the act of getting locked into a 30 year mortgage. \u00a0It\u2019s more like having ownership in a business or buying shares in a company. \u00a0With each payment, you have just gained a larger share or percentage of ownership in that company. \u00a0Normal people spend more time focused on their payment from month-to-month rather than how much ownership they possess in the place. \u00a0With this type of thinking, they do like I did when I lost a home; I left my ownership [my share] in the house for someone else. \u00a0That\u2019s crazy! \u00a0The beauty [if their is any] in a mortgage is that each month you own more and more of the property until one day it\u2019s all yours and no one else\u2019s. \u00a0I just didn\u2019t know. \u00a0With Mint<\/a><\/span>, I\u2019m able to see this percentage of ownership as well as how much of it belongs to the bank or mortgage lender. \u00a0<\/span>
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\n<\/span>Estimate of Property Value<\/b>
\n<\/b>Mint<\/a><\/span>\u00a0uses a tool to estimate the value of your home. \u00a0Remember it\u2019s not an exact science as it take an appraisal to give you the true value. \u00a0Nonetheless, you have a benchmark for where it stands in the marketplace. \u00a0Knowing this is important, you might just want to sell so that you can get your ownership out of it, especially if your finances are out of control. \u00a0Regardless, the estimate provides the baseline Mint needs to give you your ownership and thusly your net worth<\/a><\/span>.<\/span>
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\n<\/span>Now that I have transformed thinking about our property, it gives us an advantage that ordinary folks don\u2019t have. \u00a0We can focus on increasing \u00a0the property\u2019s value and thusly gain a larger share in our property. \u00a0The key is to find economical ways to increase the value of your home. \u00a0Here are just a few ways we\u2019ve helped to add value to our property:<\/span><\/p>\n