Setting Goals!

Setting small, achievable goals can be incredibly effective in the journey to buying a property. Here's how this approach can lead to success:

1. Clarifying Financial Goals

• Small Goal: Start by saving a specific amount each month.

• Impact: This builds the habit of saving and slowly increases your down payment fund, making homeownership more attainable.

2. Improving Credit Score

• Small Goal: Pay off a small credit card balance or ensure all bills are paid on time each month.

• Impact: Incremental improvements in your credit score can lead to better mortgage rates and more financing options.

3. Researching the Market

• Small Goal: Spend 30 minutes each week researching neighborhoods or attending one open house per month.

• Impact: Gradually, you'll gain a deeper understanding of the market, helping you make informed decisions when the time is right.

4. Engaging with a Realtor

• Small Goal: Schedule a meeting with a realtor to discuss your goals and get advice.

• Impact: This initial step opens the door to professional guidance, setting the stage for a smoother home-buying process.

5. Pre-Approval Process

• Small Goal: Gather necessary documents and submit a mortgage pre-approval application.

• Impact: Being pre-approved shows sellers you’re serious and can afford to buy, giving you a competitive edge.

6. Making Offers

• Small Goal: Make an offer on one property at a time that meets your criteria.

• Impact: Each offer brings you closer to securing your dream home, with each rejection teaching valuable lessons for future attempts.

7. Celebrating Milestones

• Small Goal: Celebrate each small win, whether it's saving a specific amount, getting pre-approved, or finding the right property.

• Impact: This keeps motivation high, making the entire process more enjoyable and less overwhelming.

By breaking down the daunting task of buying a property into smaller, manageable goals, you build momentum and confidence. Each small achievement brings you closer to the ultimate goal of owning a home.

Ivona Sroka, Realtor* PREC

ivona@sroka.ca