Think you missed the boat to home ownership?
Think again
It’s amazing how often I find myself having a conversation with someone who has decided home ownership will never happen for them. The dream of owning a home feels like a ship that has already sailed.
Watching from the shore, the low interest rates of the past and the more affordable prices of previous years. Media and commentators with their own agenda’s stirring the pot with clickbait articles and comments like ‘Investors lock 1st home buyers out of the market’
I understand why people feel stuck, convinced that external factors—the unpredictable market, global inflation, unemployment and increased cost of living or fierce competition for what homes are available are the sole reasons they will never buy a home.
But the truth is, they haven't missed the boat; they just haven't bought their ticket for the next one. The key is to stop focusing on the past and to start preparing for the future.
The real reason most people feel stuck
Several years ago you would rarely be approved to buy a home with another family member (banks referred to this as a ‘borrower of convenience’), today it is a normal option for many.
This is just one example of how lending rules and market conditions can play a part in holding someone back today but because things continually change it might not exist and be a barrier for them tomorrow.
The feeling of being left behind is often nothing to do with circumstances but rather rooted in inaction.
The real challenge for most is a lack of preparation. Instead of determining a focused and clear plan towards the goal of home ownership, many people get trapped in a cycle of regret and blame.
Everything they perceive outside of their control consumes their thoughts making it harder to gain the clarity of what it is they can control and do, most importantly how to become strategic with these.
It's easy to look at friends who bought homes years ago and think they got lucky. In reality, they were likely prepared. Yes, I am sure some had help of parents but I also know that for a greater percentage, they spent years building their financial foundation, saving, avoiding money leaks, grabbing opportunity moments and staying forward focused so when the opportunity came, they were ready to seize it.
This isn't about luck; it's about strategy.
When they started their journey, they were likely surrounded with different circumstances which presented different barriers. Despite those barriers they made it happen with a plan and now enjoy the fruits of their efforts.
How to Prepare for the Next Opportunity
The first step to homeownership is not finding the perfect house; it's improving your understanding of your money relationship so your finances start working for you like a well-oiled machine
There are things you are already doing which are important to continue doing, equally there are a number of things you can do to accelerate your progress that become noticeable when you have someone in your corner guiding you to first discover then implement.
This can often seem overwhelming or impossible, but the most empowering action you can take right now to begin moving forward is to engage with a financial coach.
A financial coach provides the structure, accountability, and expertise you need to turn your dream into a workable plan. They will help you shift your mindset from one of regret to one of action.
They'll teach you to stop mourning the boat you missed and start preparing for the one that's on its way.
Don't let the past rob you from your future. People continue to buy homes every day, but you have to be ready for it. That requires action so why not take the step today to discover how a financial coach can help you build your strategy and get their sooner.
The shore you're standing on right now is where your journey begins. Don’t let the next boat sail on by without you being prepared to jump on board.
Schedule your FREE Exploration Call today!
Don't think you need a coach but would benefit from understanding a few key principles?
Check out my book, 'How I Fixed My Broken Budget' - 7 Key Principles for Successful Budgeting.