Top Adding - Real Estate

When my husband and I bought our first home, we didn’t really have our financial future in mind. We were going to be getting married and needed a place to live. After 4 years of college and sharing dorm roo

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

ms and rental houses with friends, we knew that a lease wouldn’t work for us. Without any financial planner’s advice, we instinctively made one of the best financial decisions of our lives…One that would a

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

ffect our bottom line net worth for years to come.

Recently, I got together with four single women friends from high school. It was interesting to see how their financial paths differed over the past 20 ye

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

rs. All four started out with similar degrees from four year colleges. The four started with similar salaries but in different industries. The two gals who purchased their homes were doing much better econ

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

omically than the two who continue to live in apartments. As a Realtor, this intrigued me and I decided to look into it a bit further.

Homes are Smart a Investment for Anyone

According to the Fede

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

ral Reserve Board, VIP forum, your net worth is directly tied to whether you own or rent a home. The statistics are astounding.

According to consumeraffairs.com, the national wage for the average American

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

orker is $40.409. Their statistics show that the net worth of a family who owns their home with an annual income between $30,000 - $50,000 is over $126,000. Compare that to a renter with the same income an

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

d their net worth is in the $10,000 range. If an average American owns his/her home, chances are that his/her net worth will be 12 times higher than your renting coworker. Even at a low income, you can have

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

significant net worth, if you own your home.

Stop Increasing Your Landlord’s Net Worth

With every rent check you send in, your landlord gets a little richer. And you don’t. It is that simple.

Man

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

young single people are waiting for the “right” time to buy a home. Single women don’t want to buy a home and “put down roots” until they are in a permanent relationship. Single men don’t want feel tied to

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

a house or community. This is old-fashioned thinking. The mortgages products offered today allow almost anyone with a stable income to purchase a home. Whether you are married or single, man or woman, the

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

earlier you become a homeowner, the more financially stable you will be.

So what does this mean to the average American? Don’t wait!

Are you a college student? Consider buying a home near campus an

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

rent out rooms to other students. Your renters will often pay your mortgage!

Single with limited funds? Start small and consider roommates. Remember as a homeowner, you will be responsible for maintenance

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

and repairs so figure all costs into your budget when making your decision.

Think you may relocate soon? If you won’t be staying in the area for three years, it may be best to rent. If you currently live

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

where the rental market is active, you may want to purchase and keep as an investment if you have to move.

Be Smart! Treat Homeownership Like an Investment

Maintenance is essential for your home to

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

accrue in value. Periodic updating and basic home care is required. You have to keep the gutters clean and the roof in good repair. The heating system needs to be serviced and the exterior painted or staine

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

d to avoid weather damage. A good home repair book will give the first time homebuyer a guide to the routine maintenance required for your home.

Of course to continue to accrue net worth, this does mean th

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

at you need to keep the equity “IN” the home. Avoid enticing offers to refinance with 0% down so that you can take a vacation or buy a new car. Using an equity loan can be beneficial to you if you are usin

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

for home upgrades, remodels or to purchase a second home for recreation or investment.

Want to learn more?

Contact a Realtor! In most states, the buyer doesn’t pay an additional fee to use a Realt

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

or. Sellers traditionally pay the Realtor fees. And the advice from an experienced real estate agent can be invaluable to find the home that best meets your needs and situation.

Copyright 2006 Teri Eckhol

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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