Why people want to buy a home? but don’t know how.
The dream of owning a home is universal, yet many people struggle to turn this dream into a reality. Financial education is key to making homeownership accessible, and that’s the mission of Finconsciente, a financial broker in Colombia. Mabel Quintero Giraldo, the company’s manager, believes that everyone should have the opportunity to purchase a home without financial barriers.
Homeownership: The Birth of the Idea:
Finconsciente started with a simple idea. Mabel Quintero Giraldo wanted to empower Colombians with the knowledge to navigate the complex world of home financing.
She used social media to explain that not all banks are the same and that understanding each bank’s policies is essential for making informed decisions. Finconsciente’s services cater to Colombians living both within the country and abroad.
The company is relatively young, founded just a year ago. It emerged as Mabel shared informative content on social media, addressing the need for step-by-step guidance on buying a home.
Homeownership: Educating Colombians:
Finconsciente leverages social media platforms and conducts conferences at companies, fairs, and schools to educate Colombians about personal finance. Their approach not only imparts financial management skills but also transforms mindsets.
Homeownership: Avoiding Financial Pitfalls
Education is the key to preventing financial setbacks. Through pedagogy, many of the year’s financial challenges could have been anticipated and managed more effectively.
Purchase Intentions and Challenges:
Despite the current economic climate, there is a strong desire among people to buy homes. However, high interest rates can deter them, even though these rates may not be indicative of future lending rates. Providing education about the entire home-buying process can address this issue.
Current Progress Homeownership:
Finconsciente is experiencing growth, with a monthly influx of 700 people seeking real estate purchases. Out of these, 120 transactions have been filed, and 65 have been disbursed.
Homeownership Future Outlook:
Finconsciente’s goal is to provide education to more Colombians, including those living abroad. Their plans include additional courses and radio projects. They aim to increase awareness about financial brokers and their cost-free services, making home buying a transparent and accessible process.
Q&A sections:
Q1: How can financial education help individuals achieve their dream of owning a home?
A1: Financial education equips individuals with the knowledge and tools to navigate the complexities of home financing. It helps them understand the various options available, different bank policies, and how to make informed decisions. By empowering people with financial literacy, they can better plan and manage their finances to make homeownership a reality.
Q2: What is the role of interest rates in the decision to purchase a home?
A2: Interest rates significantly impact the decision to buy a home. High interest rates can deter potential buyers, even though these rates may change over time. It’s essential to educate individuals that today’s rates might not reflect future lending rates. Understanding this can help people make well-informed decisions about when and how to buy a home.
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