How to buy my dream home

We all have that dream home in mind, the one where we will spend the rest of our years and make it our own. When looking how to buy your dream home you need to consider your finances, price of the property and even alternative ways to buy a house.

I found my dream home now what?

Make sure your dream home is exactly what you want. Sometimes it is easy to get caught up in the moment and ignore relatively issues while focusing on the positives. Remember, you will likely be making the largest investor in your life to buy your dream home. Make sure it is the one for you! As they say, fools rush in where angels fear to tread. Take your time, take a deep breath and try to look at the bigger picture.

Stretching my budget to buy dream house

You need to be sensible when looking to stretch your budget to buy your new house. There is no point being able to afford the property of your dreams but not been able to live the life of your dreams. If all of your money goes into the house, how will you fund your social life, family life and important time away from work? Be realistic at all times.

Buying a house at the top of your budget

When looking to buy a house at the top of your budget you may need to cut back on some of the luxuries who have enjoyed over the years. Maybe a holiday once every two years, not so many trips away with the kids and not as many family days out. If you have found a property which is safe and secure, exactly what you wanted, and somewhere you can put down your roots, there is nothing wrong in pursuing a dream.

Alternative ways to buy a house

Fortunately, bearing in mind the problems facing many first-time buyers, there are a number of alternative ways to buying a house outright. These include:-

• Shared ownership with either a third party or housing association
Rent to buy arrangement which sees a percentage of your monthly rent going towards the acquisition of the property
• Put aside some rooms in your home for tenants with the rent going towards mortgage payments

The only problem with arrangements where you do not acquire your dream home out right from the start is market movement. If the perceived market value of the property goes up then the percentage held by any third party will also increase in value. On the upside, the equity you own will increase in value but you may well end up chasing total ownership of your dream home for many years.


We all have our dream home in mind; somewhere we can rest our weary head and put down our roots forever. In many ways it is a battle with the heart sometimes ruling the head and committing yourself to a long-term mortgage arrangement which you may not be able to fulfil. For some people, their dream home never emerges, it will always be just out of reach but this is not the end of the world. Property investment should be seen as a long-term commitment and one which should be made within your financial limitations. Overstretch your budget and there is every chance you will lose not only your dream home in the future but everything.

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