Tools for the Mortgage Blues

Having that mortgage chunk come out of your bank every month really bites. Everyone has days when they want to throw in the towel. With many years of experience going through the mortgage journey with our clients, we want to encourage you to keep up the hard work. We’ve put together a few points to help you find motivation when the going gets tough (and it can be very tough).

1. Know your “why”

Take time to recall your “why”. Why did buy this home? What was the dream? Why did you fall in love with these walls? What are the memories that your’e intent on building here? Perhaps it is the joy of finally owning a home – the certainty of your own safe space that you and your family can live in and enjoy together indefinitely. Maybe it’s the property you need to help you retire with an income, or the vacation home that will make your family’s dreams a reality.

2. Start with the end in mind

Once you’ve visited your “why”, focus on your dreams for the next 5, 10, and 15 years. Think about the moments as you and your loved ones get older. Holidays, birthdays, and all of those special memories in-between. Picture the end-goal – the feelings, smells, the vision of life without a mortgage. Make it real by creating a dream board that will spur you and your family on to paying off your mortgage faster

3. Eagle eye the market

You’ve taken the plunge, and you’ve got yourself a mortgage. We’re all for informed and empowered clients. We teach our mortgage community that it is up to them to make sure they know what’s happening on the economic front. When there are good opportunities to secure a better rate – bring it up with your broker and get mortgage-free faster.

4. A little extra goes a long way

The understanding that our clients want a home, and not a mortgage helps us get them mortgage-free as soon as possible. Clients are encouraged to pay off their mortgage faster by adding a fixed amount as little as $5 extra to their monthly mortgage payments, or making a lump sum payments towards their mortgage. Small adjustments have a surprisingly huge impact on the momentum of getting mortgage free faster, so that that you can eventually brag about having your mortgage all paid off.

These four tips are a great way to keep you focused when motivation is low. Keep tracking on towards the bigger picture – owning your home! Get in touch to see how we can get you mortgage free faster here.