Setting and sticking to goals is a pain in the butt.
It’s much easier to just do “your best” without a real plan. That way you don’t actually miss any goals or feel like you have not accomplished anything. That is, until three years have passed and you are not any closer to buying a house in Stratford CT.
The goal of course is to get to the finish line and get that house in Stratford.
You can’t concentrate on the big picture to get there so we have to make a few smaller goals. Lets make them all monetary goals since that is most peoples biggest stumbling block.
Lets keep it simple with three mini-goals to get you there.
- Open a simple savings account that you can’t easily transfer the money out of. The old school passbook type of savings account is perfect for this.
Goal number one was a piece of cake wasn’t it. Goal number two demands a little research into how much you can afford.
- Get a preapproval from a trusted mortgage broker to find out what you can afford.
Getting a preapproval is absolutely key to purchasing. I know you wont be purchaing a house here in Stratford CT for some time but just get a preapproval. It’s the best way to guide you into the right price range. People are often surprised by just how much or how little banks are willing to lend them. No surprises!
You have absolutely no obligation to the mortgage broker when you get a preapproval. If you have no idea who to call for a preapproval just drop me a note right here. Just let me know you want my list of mortgage brokers that I trust. I’ll forward you the list immediately without bugging you. I promise.
Set Goals To Afford A Beautiful New Home Like This
Let’s say you can afford a beautiful $650,000 colonial in Beaver Dam here in Stratford. Now you have to start putting some money into that savings account. Let’s say you want to use a mortgage to finance $520,000 so you’ll need to put $130,000 down as a deposit. You already have $50,000 in the bank so you need to save up $80,000 in cash.
- Do the math and set a date based upon what you can afford to set aside every week.
Setting a date is the most important part of setting goals.
I’m going to set a date for you of five years from now. Lets take our$80,000 and divide it by five years and then divide that number by 52 weeks in a year. The answer is $307 a week. You’re goal is to put $307 dollars a week into your brand spankin’ new savings account.
I’m sure your situation is very different from saving $80,000 in five years. Whatever your savings goals are to buy that house in Stratford CT, get serious and get started.
- Open a savings account
- Do the math based on a preapproval
- Set the date and satisfy that savings requirement
The people who buy a house, who get the most accomplished, who grow and make an impact…they set goals and work hard tomeet those goals by a specific date.
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