TOP TIPS TO HOME OWNERSHIP & GOAL SETTING

By January 13, 2020Buying Tips

It’s cliché but there’s nothing like a new year to kick of new goals and to do a big clean out to refresh and refocus.  This includes your home and should extend to your financial and property goals for the year ahead.

Here’s my top 5 tips for goal setting to achieve your property and personal targets this year:

  1. While a deposit or home ownership may seem too far away, if we fail to plan, we plan to fail.  Look around your home – are there thing you haven’t used that you can sell, repurpose or donate?  This is a nice way to build momentum on getting some extra cash to put aside for the holiday or home deposit you have in mind.
  2. Know how much money you need to make it happen and run the numbers.  If you need $10,000 but you only have 3 months to save, is the goal due date too soon?  Make the goals realistic, simple and easy to measure.  Added friction is a sure way to bump you off course making it harder to regroup.
  3. Having a clean and tidy living space can also help you think more clearly about your goals and providing a space to achieve them.  Visualising where you want to be, what it looks like and what it feels like can keep you on track and accountable.  I am a big fan of writing down goals and making them visible within the home.
  4. Organising a family brainstorming session so everyone can write down their needs and wants is important.  Goals can then be sorted by priority depending on budget and timing.
  5. Speak to professionals who can step you through the saving, loan planning and property finding processes and provide holistic advice.  This includes your preferred bank or broker, accountant, financial planner and local real estate agent.  A suitably qualified professional will understand the market and your individual needs and budget.

It’s a great feeling to reach goal milestones during the year knowing you had planned it, designed it and then achieved it. Getting the keys to your very own home is the great Australian dream. The sense of personal achievement felt by following through on a plan and promise to yourself is better still.