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According to the National Association of Realtors, the average house records now at $341,600.But you don’t have to look at this price as unaffordable, if you have a great credit score and a 20% down payment, then you can afford a median-priced home with an income of just $46,500.And if the credit scores are lower and down payments smaller then you will need slightly more income.A median-priced home in April 2021, cost $341,600.Prices have risen 12.6% over the year and 3.5% in just the first quarter of 2021 noted the Federal Housing Finance Agency.Home prices jumped to 23.7% in Idaho, 19.2% in Utah, 17.4% in Arizona, 16.2% in New Hampshire, and 15.9% in Connecticut.
The high demand spiked the home prices.As the home loan programs are flexible, there’s no minimum income requirement to buy a house.If they know which mortgage loan to apply for then low-income buyers can often become homeowners.Depending on your annual income and financial situation you can determine your home buying eligibility.The exact amount of income you’d need to afford a $341,600 home depends on the loan program you choose, your down payment amount, and your credit score, along with other factors.Even while the home values could be rising, one doesn’t need a hefty salary to afford one.With a good credit score, a right-sized down payment, and fewer debts, buying a house in today’s market is more affordable than you might think.Reference Source: The Mortgage Reportshttps://www.compareclosing.com/mortgagenews/how-much-house-can-you-afford/
Running a successful asset management firm and building the technology solutions that power their strategies is an unconventional business model, yet the team at Charleston Capital accomplishes this, citing their uniquely diverse team as a core driver of their success.
The company facilitates an open culture that values developing brilliant ideas and brilliant people, and actively fosters diversity into everything they do. This very un-Wall Street approach to finance is what attracts such great talent to their team. Their developers come from the likes of Amazon and Zappos, and their newly appointed CEO boasts over thirty years of financial leadership experience, including AMF, a subsidiary of Credit Suisse.
Below is a look inside this promising finance firm and Fintech company, including their own insights about the value of a multi-generational workforce.
What are the benefits of building a multi-generational workplace?
If you walk inside the offices of Charleston Capital in beautiful Charleston, South Carolina, you’ll find a team mixed up of young coders, seasoned financial professionals and talented millennials analyzing data. CNN streams across the televisions of the 11,000 square feet of office space throughout the day, and the tech team can be found playing Dungeons and Dragons in a conference room later that evening. It is unconventional, to say the least.
“Success is about building a selfless team. Hunger and talent are ageless. Each member of a team has a unique role to play and must feel like they have a unique role to play. Although the young often have great energy and the old often have great experience — assume nothing. Harness your workers’ passions so they bring their best to their job every day.” says Sol Berkoff, a Principal at Charleston Capital.
The company benefits from their multi-generational workforce, believing that your own team should be a reflection of the diversity of your customers. They deploy this thinking into all of their team-building efforts, pairing young talent to work beside industry professionals with over twenty years of experience. The results of this management approach generated an 11% annualized return to its investors last year and led the company to build its own technology platform, inFactor.
“While older generations have more experience, younger ones are more experienced in what is happening in our world today,” said Caleb Goding, CFO of the firm. “I encourage you to look inside your own organization and ask yourself if you have the right team facing your clients now, and in the future. Knowing that your client base is going to change with time, is your team set up to succeed today? Do you have generational knowledge sharing internally?”
What are the best tips for managing these generations’ innate strengths and possible challenges?
The Charleston Capital team goes far outside of classic command and control management structures, treating everyone as members of a winning team on an inspiring mission. They urge companies who want to be more diverse to understand and avoid, the potential challenges of a multi-generational workplace.
“Teams are motivated and most effective when working together to achieve common goals. But people are individuals and have individual needs and concerns. One must always be sensitive to these concerns and be willing to listen.” said Berkoff. “Balancing the good of the whole versus the needs of the individual is a never-ending challenge, especially when dealing with a multi-generational group.”
