Having a roof over your head is a basic commodity that we are all entitled to have. Growing up, we learn to observe everything around us and come up with ideals and dreams of our own—it’s just a natural part of the process.

Upon entering the university and transitioning to adulthood though, we are then faced with a simple fact: the dream home that we’ve always pictured in our head comes with a cost.

But that’s the exciting yet painstaking part about finally owning your piece of heaven. You work hard for it and that, in turn, makes the journey to homeownership a more rewarding one. 

But how to really transition from dreaming to actually owning your dream home? Here are some tips that’ll help you get there:

Let’s get creative!

It all starts with a vision. You have your own Pinterest account, right? Well, create a board dedicated to your future home. 

Do you want a trendy one-bedroom condo or do you prefer to have a single-detached home? Of course, you must take into account what your future may look like. Are you planning on having kids or expanding your family? If so, you might need to look into purchasing a 3+ bedroom home. 

This is your mood board! Your imagination is the limit; for some, it also helps if they print out photos of their dream home and put it on their fridge so that they’re constantly reminded and motivated in making that dream into a reality—ASAP!

Numbers make the world go ‘round

This is a tough one. Many people are discouraged just by the mere mention of the word budget. But, that’s all in your head! 

There’re many ways to get your dream home and be within your budget. It’s just a matter of compromise. You already have a vision of your home, now compute!

Check your daily expenses, bills and other extras versus your income. Get that Excel file out and make a spreadsheet. While you’re at it, do some research. Check the average cost of properties in the area where you want to live; from that data, you can compare the numbers and make a sound decision.

Is the area that you want too much for your budget? If so, compromise! Maybe you don’t need to live in that location, or maybe you can opt for a smaller property. 

And please! Create a budget and stick to it! Don’t spend money that you’re not earning, doing so puts your dream home further and further out of reach.

The main thing is that you don’t give up on that dream. If you already have a specific property in mind but your budget is still lacking, the next tip would be very useful for you.

Hire a Reputable Mortgage Broker

The first person you need is a Mortgage Broker to assess your capabilities and help you work out the financial kinks. They have tons of solutions under their belts that they would just love to show you! 

A good Mortgage Broker will be upfront with what you can do and what you can’t while bearing in mind your needs. They won’t sugarcoat it for you because they want to help you achieve your goals!

(Read: 5 Mortgage Broker Qualities to Count On)

Plus! They can show you different options from different lenders—from rate comparisons to the length of payment. It doesn’t matter if you’re refinancing or this is your first time getting a mortgage; they’ll surely guide you through the process. 

No need to shop around for rates yourself, the number of credit inquiries can impact your credit score–your mortgage broker will do it for you.

Timing is everything!

Now that you have your own Mortgage Broker, get down to business. Ask your Mortgage Broker to help you create a workable timeline. From gathering funds for the down payment to choosing which mortgage loan works best for you—they’ll guide you every step of the way. 

However, here’s the BIG ADVICE: don’t push yourself too hard. Purchasing your dream home can take time; it can happen in the near future or it can take some time depending on your circumstances. What matters is your readiness when your time comes.

After all, owning a home is a big responsibility and can be a lifelong commitment.

Keep reaching!

Now that you have a clearer idea on how to acquire your dream home, just stick to your plan. Keep on tacking those inspirational home photos to the fridge, keep on budgeting accordingly and be constantly in touch with your Mortgage Broker. 

Maybe that house that you’ve been eyeing is about to become available—best to be prepared and have your Mortgage Broker on speed dial!


Daisy Raouph, CLU, CHS, specializes in mortgage financing solutions and financial services. A Mortgage Broker and Financial Security Advisor with over 30 years of experience in financial services. Contact us today to review your mortgage financing options. We can help!