Write Down Your Financial Goals

Home buying is a process.  First, you need to write down your financial goals for yourselves and your family.

Your financial goals will typically include:

• Saving money
• Owning a home
• Paying off debts
• Earning more income
• Contributing to worthy charities

Write out both short-term and long-term goals.

Obviously, becoming a homeowner is at the top of your list.

When do you want to be debt-free - 1 year, 5 years, 10 years, 20 years, or 30 years from now?

When are you going to pay off your student loans?  When will you buy a house?  How much money will you save for your children’s college fund?  What year will you retire? How much monthly income will you need when you retire?

These are important questions to think about in order to start the planning process.

Of course, you cannot do everything at once, so you need to prioritize.  Think about it and figure out which goals are most important.  Which should you work toward first?  I believe that owning a home is a cornerstone of that plan.  Home ownership will give you financial stability and you will then be able to start working toward your other goals.  Remember that after your mortgage is paid, you will not have a monthly house payment and then you can retire completely debt-free!

Your Realtor® will help and guide you through this process.  Read more in our book, "Buy Your First Home", http://tinyurl.com/dy2wjx4.