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365 Days to Achieve your Dreams Meeting 1

THE FIRST MEETING

We had our first 365 Days to Achieve Your Dream meeting last Thursday.   It was a great start! Natalia and her husband are a treat to spend time with and they were very relaxed and interested. I gave them a glass of wine and a beer and told them this is the first meeting and it will be fun.

OUR AGENDA

  • Discuss what they would like to purchase
  • Look at a selection of MLS listings and see what’s available in their price range
  • Run the numbers to see where they are now
  • Review the cost associated with purchasing
  • Homework

Natalia her husband’s goal is to own a home by the end of the year. So we started the initiative by uncovering what they want: A 2-bedroom condo with 800 square feet (or more, if possible).

Then we pulled a selection of places in their price range – $250,000 and $300,000 – in New Westminster.

Then, we ran some numbers. We looked at what they currently earn and their individual credit scores – his was excellent and Natalia thought hers would be terrible, but it was great! She’ll use that to her advantage over Andrew for a while, I’m sure.

Good news: we can absolutely qualify these two for their expected price range (news that made them very happy!) We discussed the next steps: saving for a down payment and preparing for higher monthly costs (property tax and strata fees). We reviewed closing costs and what to plan for when making a purchase.

But it wasn’t all money and mortgages. We got off topic and talked about life and told stories and it was just a great meeting overall. I’m positive we can help these two achieve their dream in the next 365 days.

THE HOMEWORK

  1. Visit 3 neighbourhoods with homes in your price range. Grab a latte (on me!) and walk around. Pick a building that could be your “goal”. A place you might like to live. Take a picture and put it on your House Sheet as a visual reference.
  2. Make goals. Fill out your 1, 3 and 5 year goals individually (no peeking), bring them next month and let’s discuss.
  3. Keep track of your spending. Fill out the Where Does My Money Go book this month. Pay attention to what you’re spending.

UP NEXT MONTH:

We’re meeting in May to talk about Money.

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