The photo is compliments of Unsplash.
I believe in the law of attraction.
Basically, the law of attraction is the idea that you create your own reality through the thoughts that you predominantly have about yourself, your condition, and what you can achieve within your lifetime. So, of course, to make one’s dreams of homeownership a reality, one must know what kind of home they want, right? Yes. So, I signed up for a real estate website (where you plug in your name, your email, and your phone number to get access to the available home listings), and before I knew it I received a phone call from a realtor that I am now on a first name basis with. Anytime I have a question, all I have to do is text her. It’s like she’s holding my hand in advance.
Very professionally (thanks to my years of watching Property Virgins, Property Brothers and Property Brothers Buying & Selling, Love it or List It, House Hunters and House Hunters Renovation), I asked her whether it was a buyers or sellers market, I asked how much I would have to put down for a place (within the budget I had set), and I asked her about other things too (like how I would go about getting a mortgage broker and what that process would be like).
Over the phone, to send me a fine-tuned list of properties available today via email, she asked me what my desires for a home are. Here’s what I said/what I want:
1. A Move in ready condo in a cool neighbourhood in Toronto.
2. Lots of light, big windows, and wall space (for bookshelves – because I have a lot of books).
3. A great and open kitchen (because, as you know, I cook and bake), and an open dining and living area.
4. Two good sized bedrooms.
5. Two decently sized bathrooms.
6. Harwood or laminate floors.
7. A quality gym in the building.
8. Near the bus or on the subway line.
9. A parking spot (I don’t drive but it’s good to have, for when I have a spouse who does drive, and for resale value) and a storage locker.
10. Good security in the building.
And you know what? I found my dream condo (in my dream starter neighborhood), I saw the sticker price, I was given a ballpark estimate of what it would cost to carry it each month, and I am taking measurable steps towards making it mine. That’s right folks, I’m going to buy my first place as soon as possible. I believe it (and I can see how doable it is).
Here’s what I learned from communicating with a realtor (who I have decided to stay in contact with):
1. Have a goal and a vision
You absolutely must know what you’re looking for. Do you want a five-year house, a ten-year house, or a forever home? What do you see yourself doing in your home? Do you plan on renovating your home immediately upon taking possession of it, will you live in a fixer-upper for some time before renovating, or do you want a turn-key home? And very simply, do you plan on being alone in your home or do you foresee a partner in your near future?
2. Make sure your goal is measurable
As much as I would immediately like a nice Georgian in a certain neighborhood in Toronto (which I truly believe I will get into one day), I have to take focused and measurable steps towards making my starter home a reality (so that my forever home, that Georgian in a certain neighborhood, can happen too). Steps, measured monthly and annually, are what I will take.
3. Have a plan
Yea, have a plan. I have been looking for a nice stable job that will allow me to save more aggressively (re an RRSP and a TFSA) than I have been able to do right now.
4. Be flexible
As much as I would like to buy right in the downtown core, I know that buying in the heart of it all comes at a premium (re more than I want to spend for a starter home), and I have to give a bit on location. I also know that I have to give on the number of bedrooms, the square footage, and those little or big jiggling things like storage in the unit or how big the kitchen is.
And that’s it! I promise to keep you guys updated on my home buying process (when the time comes), and maybe I’ll do some budget and money saving posts too. This whole accidental process has really lit a fire under my ass, and it has transformed my life trajectory for the better.