We all have our dreams about the perfect home. It could be a small cottage with a vegetable garden in the country, or a palatial city centre pad complete with rooftop swimming pool. The trouble is, whatever that dream may be, many of us feel it is out of our reach. But is it? In this article, we’re going to take a look at some of the best ways that you can make living in your dream home a reality. Read on to find out more.
Build Your Own Home
Building your own home is the best – and most cost-effective – way of turning your dream home into a real thing. However, you have to be realistic about what your budget can achieve. If you lack in this area, then it might be worth looking for new home builders in your area. They will be able to take you through the whole process from start to finish, and advise you what you can and can’t do for your money. If you have the time – and the project management skills – then you could consider taking the whole project on yourself. You will need to build up an extensive network of tradespeople, hire surveyors and architects, and also ensure you get the green light from your council. It’s a tough experience, but ultimately a very worthwhile on.
Buy Cheap & Renovate
Now, before we begin with this idea, it’s important to point out one vital thing. Renovation can be expensive if you choose the wrong property. However, by making sure you are making the right checks before buying the house, you can avoid a lot of the risk. A property surveyor will be able to tell you about any structural damages that might cost you money, so make sure you use this info to drive down the asking price. You should also keep your renovation budget firmly in mind. With the right investment across all areas of the process, you could expect to see the costs of creating your dream home reduced by up to 50%.
If your mortgage budget is limited, the think about getting a buy-to-let deal. Banks will often give you far more for your money if they know you are buying to let. There are disadvantages of course – primarily the fact the somebody else will be living in your dream house. However, after ten years or so, you will have paid off a considerable chunk of your mortgage and will be in a much stronger position to get a more affordable deal. And at that point, moving into your dream home could become a very real prospect.
Avoid A Mortgage
Paying for a house without a mortgage takes a lot of savings. However, if you have a reasonable income and can squirrel away as much as possible, then there’s no reason you can’t buy your dream home after ten years or so. Sure, it’s a lot of dedication and will take discipline – but it can be done. Investing it in the right areas will help boost your savings, too, so think about building up a ten-year portfolio. Don’t forget that many people will accept considerable discounts for cash buyers – which makes that dream home even more accessible to you.