What exactly are your property goals for the coming year? Is 2016 the year that you’ll be buying your first home? Or maybe for those of you already established in life the coming year might see the acquisition of your first investment property? Or maybe you already own property but would like to sell up so you can build your dream home?
Whatever your motivation is, let’s see how you can set and reach your property goals in 2016!
One of the first steps in making your goals a concrete reality is to talk about them and flesh them out. Chat with your friends, family and co-workers and help find out exactly what you want. Sometimes we don’t even know ourselves until the words have left our mouth and we realise that we just voiced the dream that we had all along! You could also talk to a property advisor or mortgage broker who may be able to temper your dreams with some sound financial advice. Once you’ve found out exactly what your goal is…
The ins and outs of your goal are going to vary individually of course. For some it may be to have a deposit for a home saved up. Others may want to have settled on their first property. And other still may want to have sold their property so they have the capital to buy somewhere else. Whatever your goal is – set it. Write it somewhere visible in your home, or put it on your computers wallpaper, so that you have a daily reminder that “by the end of 2016 I will….”
A firmly set goal is always easier to reach than a vague and undefined one.
Whatever your property goal is, chances are that it’s going to have a number of different stages. For example “by the end of 2016 I will be debt free” is a goal that might start with sitting down and working out your budget, and then progress to consolidating your debt, and then finally making the final repayments. You get the idea. Bite-sized chunks make any task, financial or otherwise, that much easier to get complete and stop you from becoming overwhelmed.
If your goal involves your finances and saving money, then get ready to change some things about the way you live. You may have to spend less on luxury items and leisure activities and instead channel that money into your new venture. Or you may have to spend your weekends doing up your house to get it ready for sale (link to Blog post 4). Whatever your property goal you may have to be willing to make some sacrifices to make it happen! They will be worth it in the long run though, when you can say with satisfaction that you made It happen!