Moving into your dream home can take a lot of time and effort. Many people don’t achieve it until they’re in their 50s, 60s, or beyond, by which point they’ve spent most of their lives trying to attain it. It can feel like a marathon. The good news is that there are ways to get to your dream home faster. Here’s what you need to do.
Fast-track your financing
The best way to get into your dream home faster is to fast-track your financing in various ways. The single biggest bottleneck is usually the mortgage approval process, and once you’ve got this sorted out, you’re often ready to go.
Where possible, get pre-approved and find out how much you can borrow. This will give you a number telling you how much money you can get in the form of a loan from the bank to put towards your new property. Then all you have to do is match the required deposit amount, and you’re all set.
If you can’t access a mortgage immediately, or you’re part of a long chain, then it might be worth getting bridging loans. These are temporary stopgap measures that you can use to secure your property until you find a long-term solution.
Always be mindful of your debt-to-income ratio. Make sure your housing costs are under 28% of your gross monthly income, and that your total debt repayments are under 36%. If you go above this, it can make it difficult to live a functional and normal life financially. Finally, once you begin this process of fast-tracking your financing, don’t open any new credit cards or take out any new car loans. Keep your existing credit arrangements the way they are.
Separate your must-haves from your nice-to-haves
When searching for your dream home, it’s also a good idea to separate your must-haves from your nice-to-haves. Many people believe that their dream home has to have all of the bells and whistles, and they can’t compromise on anything less, but that’s not always the case.
As always, 80% of the quality of your life is going to come from 20% of your home features. The remaining percentage of nice-to-have items is going to have a relatively minor impact on your ability to live a happy and productive life.
For example, a must-have might be an absolute deal-breaker, like being within a certain school district or having a minimum of three bedrooms. A nice-to-have might be things like granite countertops, which you can add later, or a finished basement.
Find an aggressive local agent
Finally, you can also increase the likelihood of getting your dream home faster by partnering with an aggressive local agent. Not only do they understand the local market, but they’re also highly proactive and can make it easier for you to gain access to the properties you want.
For example, a well-connected agent will often hear about homes before they officially hit the market. That means you can get in early and make an offer. You can also benefit from their local expertise and avoid time wasters.
Daily Deals from a Nerd Mom 
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