What My Future Dream Home Looks Like and What We’re Doing To Get There!

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From the moment we got married the hubby and I have talked about owning our own home and our dream is starting to come true since we’re in the market to buy our first home this summer. I can’t wait to have something that is all ours to call home and raise our growing family in. I’ve always dreamed of my dream home and I can’t wait to find ours. Something I can decorate and upgrade to our liking, a big yard for the kids to play in, enough room that we’re not cramped, and a big gorgeous kitchen are some of the things I’ll look for on our search for a dream home, but owning a home isn’t easy and over the last 5 years we’ve been taking steps to prepare for our dream home. Here are my simple steps to make owning your dream home a reality!

1. Budgeting – A rule of thumb when planning for a mortgage is to not use more than 30% of your your gross monthly income on housing. So this means sitting down and figuring out what all your bills are and how much a mortgage, insurance, and property taxes will add to your expenses. Cut down on expenses where you can like eating out less, cutting cable, doing yard work and fixing stuff around the house on your own, and shopping with sales and coupons.

2. Reduce Debt – Over the last couple years we’ve gotten rid of a lot of our debt and that’s given us more money to save, but also to prepare for having a mortgage. Pay off loans and credit cards, think twice about getting a car payment, and save for big purchases.

3. Think twice before you buy – This is a hard one for me because I’ll go into a store for a few items and come out with a few extra. I’ve really started asking myself “Do I need this?” “Do the kids really need this?” and if it will actually get used or will I use it once or twice and it will just sit? Most of the time the answer is No, I don’t need that item and I put it back on the shelf. I’ve also stopped online window shopping because I’ll end up finding things I like and he urge to buy them will take over. Unsubscribing from store emails have helped a lot too because I no longer receive those special promo emails where I am tempted to shop because “it’s a good deal”. Instead I wait until I know a big shopping weekend is coming up and use a coupon app to find a coupon and shop for the items I need. This has helped save some money and also reduced the amount of items I’m bringing home and adding to clutter.

4. Save – Buying a house isn’t cheap and you’ll want a down payment, need closing costs, moving expenses, ect. Start saving a certain percent of your paycheck to help cover these expenses. The traditional estimate for a down payment is 20 percent of the purchase price of the house, which can lower your monthly payments and avoid mortgage insurance better than a lower down payment and closing costs can add to the amount you need to close your loan and take possession of your new home. Look them over carefully, because they can vary from one lender to another.

5. Shop Around – Shop around for the best loan you can get and get pre-approved for a loan so you know how much you can spend and shop for houses in that price so you’re able to stick to your budget. Capital One’s Home Loans Online Neighborhood is packed full of information regarding loans available to you, terms you should know, documents you need to apply for a mortgage and much more.

Capital One’s goal is help first-time homebuyers understand how the home loan process works, which is why they’ve launched a new online learning center that features the know-how you’ll need to become the savviest homeowners on the block. The Capital One Home Loans Online Neighborhood is a free online resource where you can learn all about home buying. They’ve gathered easy-to-understand articles and helpful videos, as well as information about Capital One’s Home Loans offerings. Their friendly online neighborhood covers all stages of the home buying process – from deciding whether now is even the right time to buy and how much home you can afford, to the documents you need to apply for a mortgage. Buying a home is an important process, but certainly not a simple one – Capital One’s new online resource lays the groundwork with a glossary of terms you should know, an overview of the loans available and more. If you’re interested in learning more about Capital One Home Loans and how they can help you get home, visit https://www.capitalone.com/home-loans/direct/learning-center or call us at 855-900-8886.

I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.