BEGINING TO DREAM

Living in a small expensive apartment in east Trinidad, the author had just gotten married and the couple were expecting a baby in four months time. With a three hour commute into Port of Spain the capital of the island, the couple started the process of acquiring their dream home. 

For most of us, a new home is borne out of necessity rather than a dream. The challenge which most people encounter is conceptualizing and financing a new home. The author decided in 2010 to embark on the biggest adventure he had ever faced in his life.

Firstly built on the advice from the blog before, the author wrote the desires and wish list of  his wife and himself. 

• Four Bedrooms including a Master bedroom.
• Large Kitchen with Breakfast Nook and Pantry.
• Large Living Area or Great Room
• Entertainment and Family Room that accesses a Patio area.
• Large Windows and Doors in living Room which allows natural light.
• High ceiling in Great Room.
• Three Bathrooms and one Powder Room.
• Two Car Garage.
• Laundry Room accessed from the Bedroom area.
• Man Cave and Study area.
• A Pool.
• Hardwood floors finishing throughout the house.
• Most of all, the property must have a Mountain View.

The author wrote the wish list and desires of his wife and himself and consulted online realstate listings in finding houses which met the couple requirements.

The author was pleasantly surprised in finding so many houses which met all their items on their check list. At the time the most popular mortgage financers were Trinidad and Tobago Mortgage Financing Company, (TTMF). 

The author realized that he didn't meet the financial requirements which would afford him his dream home. The list price for these homes ranged from three million to five million dollars. The basic requirements of starting the financing process are:

• Ten percent down payment of asking price. (approximately four hundred thousand dollars)
• Legal fees, closing and Valuation fees. (approximately one hundred thousand dollars)

Please write and tell me if you had a similar experience.