When I first read Chris' title, my first thought was "What the HECK is he talking about?" Then I read the post and the comments, and I agree with many of them. Take the time to dream and then make the time to PLAN! If you are looking in Maryland, call me and we'll get you there!
This is my response to Chris' blog:
I like it! I get lots of calls from folks who found a house they love in the neighborhood or online, then we start talking about the boring stuff like recent foreclosure, 19 collection accounts, recently self-employed or laid off, no down payment...most of those folks, years later are still in the exact same position when they find another house they love.
If more people would take time to dream, then make the PLAN and follow it...the perfect next steps, it would make the time spent reviewing their situation and money I spend on credit reports all worth while.
I must say, when I get a call from someone willing to do the work and not just dream the dream, I know that I will be on the invite list for the house warming party. AND, I will be on the list when they are ready to upgrade to the next home too! It may take a month, it may take a year, but together we can make that dream a reality!
Maryland Mortgage Mama
FAQ: Should I Talk To A Lender First? Answer: Absolutely NOT!!
If you’re truly dreaming of owning your own home, dream often and dream BIG! Talking to a lender will do one thing and one thing only – squash your dreams! Here’s some advice: First, set up an account at Pinterest, then visit HGTV.com, Google Images, or download the Houzz app for iPad. Visit sites that show outrageous homes for sale and look for the things you love most about dreamy houses and then start pinning like mad. Luxurious bathrooms? Magnificent closets? Clever kitchens and genius storage solutions?
Will your bedroom need to be big enough for a sleigh bed or bunk beds? What are the ideal dimensions of that room? Do you have a vision of what your dream garage looks like? How about sunlight? Moonlight? Basements finished or empty caverns? Do you want your home to face east or west? North or south? Does gardening appeal to you or do you like watching other people take care of grass and plants and shrubs and flowers? Are you a Victorian or a Bungalow? Loft or Townhome? Stucco and stone or brick and siding?
The best thing about dreaming is that your dreams don’t have to be cluttered by external filters like affordability, practicality, and sensibility. Dreaming and collecting images of favorite homes and interiors may help reveal key elements of a home that are important to you. Enjoy the dream stage of the home buying process – just make sure you’re purposeful about it.
You’re not likely to afford much of what you see – but there are key components of what you like that may be scalable to fit just about any budget. Give yourself a fixed amount of time to dream and then examine the boards you’ve created and pinned images to. Create a board of “Must Haves”. Share it with your partner to see what his or her dream home boards contain and create a shared board that include elements you both like.
Many times, a buyer has done the ‘responsible thing’ and spoken to a lender first to determine the actual dollar amount they can spend – but haven’t spent any time really dreaming about what they want in a home. Believe me, the process of discovery can be difficult and filled with heartbreak if appropriate and purposeful dreaming hasn’t been explored first! Once you’ve completed the dreaming phase and are ready to buy a home, then yes, talk to a lender to get a realistic idea of the price point you qualify for. It may be a bit of a buzz-kill but with all the dreaming research completed and with the consultative skills of a local real estate inventory professional, you can start shaping your dream into reality.
If you are considering purchasing a home in Maryland and want to be sure you are mortgage ready, my brother Tony and I will be happy to help! We help to make the mortgage process a pleasure!
If you already own your home, we are happy to provide a no-cost mortgage review to help you to determine if refinancing may be in your best interest. Please contact me at 410-960-2061.