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  • Sylvia Ho

Do You Have To Sell Your 1st Home To Buy A New One?

๐€ ๐’๐ฎ๐œ๐œ๐ž๐ฌ๐ฌ๐Ÿ๐ฎ๐ฅ ๐‚๐š๐ฌ๐ž ๐’๐ญ๐ฎ๐๐ฒ: ๐‡๐จ๐ฐ ๐’๐ฆ๐š๐ซ๐ญ ๐…๐ข๐ง๐š๐ง๐œ๐ข๐š๐ฅ ๐๐ฅ๐š๐ง๐ง๐ข๐ง๐  ๐Œ๐š๐๐ž ๐š ๐ƒ๐ข๐Ÿ๐Ÿ๐ž๐ซ๐ž๐ง๐œ๐ž

Meet a dynamic couple in their mid-30s

A dedicated family doctor and a meticulous accountant, both with thriving professional careers.

They embarked on a journey that showcased the power of strategic financial decisions.

Here's their inspiring story:

๐“๐€๐Š๐ˆ๐๐† ๐“๐‡๐„ ๐‹๐„๐€๐: ๐”๐๐’๐ˆ๐™๐ˆ๐๐† ๐€๐๐ƒ ๐‘๐„๐๐“๐ˆ๐๐† ๐Ž๐”๐“

This couple decided to keep their first home while moving into a larger, more luxurious house. To generate additional income, they chose to rent out their original townhouse, fetching a steady $3,000 per month in rental income. For a while, their rental property was delivering a healthy positive cash flow, providing them with a financial cushion that aligned with their goals.

๐๐€๐•๐ˆ๐†๐€๐“๐ˆ๐๐† ๐…๐ˆ๐๐€๐๐‚๐ˆ๐€๐‹ ๐‚๐‡๐€๐‹๐‹๐„๐๐†๐„๐’: ๐€ ๐๐”๐Œ๐ ๐ˆ๐ ๐“๐‡๐„ ๐‘๐Ž๐€๐ƒ ๐Ÿ˜ตโ€

However, as time went by, interest rates started climbing, causing a significant impact on their rental property's cash flow. The couple began to question their initial decision: "Should we have sold our first house instead of keeping it? Are we making the right financial choices?"With concerns about their cash flow, they were seeking a solution to regain control of their financial stability.

๐“๐‡๐„ ๐“๐”๐‘๐๐ˆ๐๐† ๐๐Ž๐ˆ๐๐“: ๐ˆ๐Œ๐๐‹๐„๐Œ๐„๐๐“๐ˆ๐๐† ๐€ ๐’๐“๐‘๐€๐“๐„๐†๐ˆ๐‚ ๐‚๐€๐’๐‡๐…๐‹๐Ž๐– ๐‘๐„๐€๐‹๐‹๐Ž๐‚๐€๐“๐ˆ๐Ž๐

To address their concerns and regain their financial footing, the couple implemented a clever strategy of cash flow reallocation. This step marked a turning point in their financial journey. The results were remarkable:

๐‘๐„๐€๐๐ˆ๐๐† ๐“๐‡๐„ ๐๐„๐๐„๐…๐ˆ๐“๐’

  1. ๐‚๐จ๐ง๐ฌ๐ข๐ฌ๐ญ๐ž๐ง๐ญ ๐‚๐š๐ฌ๐ก ๐…๐ฅ๐จ๐ฐ: By adopting this strategy, they maintained their accustomed cash flow, providing financial stability and peace of mind.

  2. ๐‚๐จ๐ง๐Ÿ๐ข๐๐ž๐ง๐œ๐ž ๐ข๐ง ๐“๐ก๐ž๐ข๐ซ ๐ƒ๐ž๐œ๐ข๐ฌ๐ข๐จ๐ง๐ฌ: Instead of fretting about their financial future, they now have a well-defined plan in place, which has boosted their confidence in keeping both properties

  3. ๐€๐œ๐œ๐ž๐ฅ๐ž๐ซ๐š๐ญ๐ž๐ ๐Œ๐จ๐ซ๐ญ๐ ๐š๐ ๐ž ๐๐š๐ฒ๐จ๐Ÿ๐Ÿ: Thanks to this newfound financial strategy, they are now on track to pay off their mortgage six years earlier than originally planned.

Their story stands as a testament to the importance of strategic financial planning and the difference it can make in achieving your long-term financial goals.

Disclaimer: This case study is provided for illustrative purposes only. Individual results may vary. Always consult with financial professionals for personalized advice and strategies.


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