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The Ultimate Guide To Buying Your Dream Home

The Ultimate Guide To Buying Your Dream Home

All of us have an idea of what our dream home will be like. We might’ve made vision boards filled with magazine cut-outs of Gothic mansions, penthouses or swanky Upper East Side apartments. Some of us are even actively working towards it.

Buying a beautiful house is probably the most important and expensive purchase you’ll ever make, so it is imperative to consider a few things before actually doing it such as figuring out the mortgage, researching the home loans available and of course effectively managing your finances before and after.

1. Decide How Your Dream House Will Be Like

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    This is the time to unleash the dreamer in you. Imagine how your dream house will be like. Don’t think about the house you’d buy if you had all the money in the world but the house you really need. Work out the number of rooms depending on the number of people who will live in it, whether it’s going to be an apartment or bungalow, and the like. Check out pictures and home listings online. Also, consider the location and neighbourhood.

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    2. Decide Your Budget

    Budget

      Once you have a good idea about your needs, think about the budget and planning. How much money are you willing to shell out? If you’re looking at listings online, compare prices. Once you fix a budget, try to stay within it as you’ll have extra expenses – furniture, decoration, and maintenance costs – to consider.

      3. Double Check Size, Location, Price

      property-for-sale-5-1413776

        Now that you know exactly what you’re after, it’s time to review the facts. Check if the size of your new home is adequate not only for now but also for the future, especially if you’re planning to have children. Check if the location doesn’t make daily commuting to the office difficult and if the neighbourhood isn’t shady.

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        And finally, the price. See if you can get it a bit cheaper. As per stats, 44% buyers found their dream home via the internet and 33% hired a realtor. We suggest you hire a realtor and go for a pre-inspection. Make sure you’re getting a good deal.

        4. Fix A Deadline

        Deadline

          Now fix a date in the future, write it down, and tape it to the fridge or wherever you’re likely to see it often. This is your goal. By this day, not only will you have purchased your dream move, but you’ll also be busy packaging items to move in. Make sure the date is realistic and that you can work towards it every day.

          5. Research Home Loan Options

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            Perhaps the most important step of all, this is where you figure out the finances. Spend time researching the home loan options available, and choose one that seems the most flexible, saves interest costs and offers a grace period or EMI repayments. Calculate the EMI you have to pay back each month and see if you need a pay rise in your salary or another job. Do not take a risk here.

            6. Work Out The Mortgage

              Remember that prices of houses rise and fall. Do you have plans of selling this place in the future and moving somewhere else? Do you want to rent a part of it and make passive income? Given that 42.9% of all families have a home-secured debt (2013), it is important to not fall into the trap.

              There are plenty of affordable mortgage rates available – choose whether you need one with a fixed interest, adjustable rates or an interest-only loan. Consult a professional in case you are unsure before getting a mortgage pre-approval.

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              7. Get A Home Warranty

              home-warranty

                Nothing in this world is permanent. Earthquakes and natural disasters can happen anytime. All houses require regular repairing. Think about the future white-washing costs, plumbing leaks, rust and sediment deposition and get a home warranty that will ensure that even if something goes wrong, you don’t have to burn a hole in your pocket to replace it.

                To recap, before embarking on the purchase of a new home, list your requirements for your new house, make a plan, decide a budget and fix a deadline. Then research on your home loan, mortgage and warranty options and choose the one that is the best match. Go for a prior inspection and if it’s your first time, don’t hesitate to ask for professional advice and soon enough your dream home will be all yours!

                Featured photo credit: http://www.stockvault.net/photo/132348/beautiful-house via stockvault.net

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                Vikas Agrawal

                Vikas is the co-founder of Infobrandz, an Infographic design agency that offers creative visual content solutions to medium to large companies.

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                Last Updated on January 21, 2020

                The Best Way to Create a Vision for the Life You Want

                The Best Way to Create a Vision for the Life You Want

                Creating a vision for your life might seem like a frivolous, fantastical waste of time, but it’s not: creating a compelling vision of the life you want is actually one of the most effective strategies for achieving the life of your dreams. Perhaps the best way to look at the concept of a life vision is as a compass to help guide you to take the best actions and make the right choices that help propel you toward your best life.

                your vision of where or who you want to be is the greatest asset you have

                  Why You Need a Vision

                  Experts and life success stories support the idea that with a vision in mind, you are more likely to succeed far beyond what you could otherwise achieve without a clear vision. Think of crafting your life vision as mapping a path to your personal and professional dreams. Life satisfaction and personal happiness are within reach. The harsh reality is that if you don’t develop your own vision, you’ll allow other people and circumstances to direct the course of your life.

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                  How to Create Your Life Vision

                  Don’t expect a clear and well-defined vision overnight—envisioning your life and determining the course you will follow requires time, and reflection. You need to cultivate vision and perspective, and you also need to apply logic and planning for the practical application of your vision. Your best vision blossoms from your dreams, hopes, and aspirations. It will resonate with your values and ideals, and will generate energy and enthusiasm to help strengthen your commitment to explore the possibilities of your life.

                  What Do You Want?

                  The question sounds deceptively simple, but it’s often the most difficult to answer. Allowing yourself to explore your deepest desires can be very frightening. You may also not think you have the time to consider something as fanciful as what you want out of life, but it’s important to remind yourself that a life of fulfillment does not usually happen by chance, but by design.

                  It’s helpful to ask some thought-provoking questions to help you discover the possibilities of what you want out of life. Consider every aspect of your life, personal and professional, tangible and intangible. Contemplate all the important areas, family and friends, career and success, health and quality of life, spiritual connection and personal growth, and don’t forget about fun and enjoyment.

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                  Some tips to guide you:

                  • Remember to ask why you want certain things
                  • Think about what you want, not on what you don’t want.
                  • Give yourself permission to dream.
                  • Be creative. Consider ideas that you never thought possible.
                  • Focus on your wishes, not what others expect of you.

                  Some questions to start your exploration:

                  • What really matters to you in life? Not what should matter, what does matter.
                  • What would you like to have more of in your life?
                  • Set aside money for a moment; what do you want in your career?
                  • What are your secret passions and dreams?
                  • What would bring more joy and happiness into your life?
                  • What do you want your relationships to be like?
                  • What qualities would you like to develop?
                  • What are your values? What issues do you care about?
                  • What are your talents? What’s special about you?
                  • What would you most like to accomplish?
                  • What would legacy would you like to leave behind?

                  It may be helpful to write your thoughts down in a journal or creative vision board if you’re the creative type. Add your own questions, and ask others what they want out of life. Relax and make this exercise fun. You may want to set your answers aside for a while and come back to them later to see if any have changed or if you have anything to add.

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                  What Would Your Best Life Look Like?

                  Describe your ideal life in detail. Allow yourself to dream and imagine, and create a vivid picture. If you can’t visualize a picture, focus on how your best life would feel. If you find it difficult to envision your life 20 or 30 years from now, start with five years—even a few years into the future will give you a place to start. What you see may surprise you. Set aside preconceived notions. This is your chance to dream and fantasize.

                  A few prompts to get you started:

                  • What will you have accomplished already?
                  • How will you feel about yourself?
                  • What kind of people are in your life? How do you feel about them?
                  • What does your ideal day look like?
                  • Where are you? Where do you live? Think specifics, what city, state, or country, type of community, house or an apartment, style and atmosphere.
                  • What would you be doing?
                  • Are you with another person, a group of people, or are you by yourself?
                  • How are you dressed?
                  • What’s your state of mind? Happy or sad? Contented or frustrated?
                  • What does your physical body look like? How do you feel about that?
                  • Does your best life make you smile and make your heart sing? If it doesn’t, dig deeper, dream bigger.

                  It’s important to focus on the result, or at least a way-point in your life. Don’t think about the process for getting there yet—that’s the next stepGive yourself permission to revisit this vision every day, even if only for a few minutes. Keep your vision alive and in the front of your mind.

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                  Plan Backwards

                  It may sound counter-intuitive to plan backwards rather than forwards, but when you’re planning your life from the end result, it’s often more useful to consider the last step and work your way back to the first. This is actually a valuable and practical strategy for making your vision a reality.

                  • What’s the last thing that would’ve had to happen to achieve your best life?
                  • What’s the most important choice you would’ve had to make?
                  • What would you have needed to learn along the way?
                  • What important actions would you have had to take?
                  • What beliefs would you have needed to change?
                  • What habits or behaviors would you have had to cultivate?
                  • What type of support would you have had to enlist?
                  • How long will it have taken you to realize your best life?
                  • What steps or milestones would you have needed to reach along the way?

                  Now it’s time to think about your first step, and the next step after that. Ponder the gap between where you are now and where you want to be in the future. It may seem impossible, but it’s quite achievable if you take it step-by-step.

                  It’s important to revisit this vision from time to time. Don’t be surprised if your answers to the questions, your technicolor vision, and the resulting plans change. That can actually be a very good thing; as you change in unforeseeable ways, the best life you envision will change as well. For now, it’s important to use the process, create your vision, and take the first step towards making that vision a reality.

                  Featured photo credit: Matt Noble via unsplash.com

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