ACCOMPLISHING YOUR DREAM

Hello Guys

The author need not be a financial analyst, in suggesting that, the average thirty year old professional living in Trinidad and Tobago, wouldn't have three hundred thousand dollars sitting in an account or a couple earning a combined monthly salary of fifty thousand dollars, as is the required downpayment by the financial institutions. 

In this blog, with the assistance from you great bloggers, the author will explore methods in obtaining a dream home in spite of your current financial status. With tried and proven methods, the author himself has accomplished his dream home..

1. Post a conceptual image of the dream house on a calender on the wall of your current home. This will allow your dream to remain top of mind and time bound. 

2.  Analyse the couple's monthly earnings and measure against their monthly expenditure.  The intent of this exercise will be to extract twenty percent of  monthly earnings towards saving for your dream home.

Note:
This is a hard task and will involve enormous sacrifices. 

3. In five years of continuous savings of twenty percent of the couple's earnings, would result in achievement of a sizable amount towards the targeted down payment.

The author and his wife had a combined monthly earning of eighteen thousand dollars, for which he realised, the target of three hundred thousand was still out of his reach, and he needed to have other income to supplement their shortfall. Notwithstanding the time frame for saving, the author never stopped looking at the real-estate market for properties which met his requirements.

The author also consulted an Architect to help crystalize his vision. It also important to note that the couple's financial and other needs changed over the period, but the desire to have a home didn't. And in some cases you may have to scale down the wish list. But there are ways of getting the same dreams for less, by doing it yourself. "DIY"

 4. Engage professionals in solidifying the vision, as design and material play an important part in reducing cost.

5.  Start discussions with Mortgage companies as you will be in a stronger financial position,  the monthly savings will also demostate to the mortgage officer the ability to re - pay a loan.




The author invites Bloggers to comment and post photos, in helping others to realise thier vision of a dream home.