Saturday, August 16, 2014

Journey to a House #1

I have never owned my own home. I have only lived in apartments, except for when I lived in my parents house. It is not for lack of wanting, but for lack of ability. Up until now, we have only been able to dream. It seemed an impossibility to us, to be able to buy our own home. Due to the changes we have made this year, we see that we are finally in a place to be able to work toward purchasing our own home.

Our goal is to buy our home in three years, before our youngest starts Kindergarten. I will put it out there that I would love for us to move into our own home as early as two years from this October, instead of the three years. We shall see if we can make it happen. I will be happy with the three year plan as well.

The goal is to put up weekly blog posts with how we are making this dream possible. We will outline our plan, the things that we accomplished, what went well and what didn't. I will be sharing the sources for websites, books, and tools that will be helping us along this journey.

First I will outline what it is we are working toward.
     Continue to pay off debt (in our case student loans).
     Increase our credit score by 100 points.
     Make sure to have a history of complete on-time payments.
     Save up for our down payment of at least 10%.
     Find the right mortgage company.
     We will be buying land and placing a manufactured home on it, with a budget of $160,000. In the future, we will build our dream home on the property. We would probably be able to spend more, but we want to keep it under what we can afford.

Next week will be the first post on what we will be doing to increase our credit score. There is a lot of information out there, I will weed through it and find out what it is we need to do.