Setting homeownership Goals for 2023? Here’s 4 Smart Tips to help you reach them

Mon 30th Jan, 2023

Welcome to 2023…the best time to take stock and start fresh.

There is something particularly alluring about setting goals around the new year…new year, new you, right? As everyone around you is creating vision boards and sharing their goals for 2023, you can focus on achieving yours to! Here’s something in the new year that can help you start your journey to homeownership off right. One word…S.A.V.E.


Saving can motivate you…

Setting your goals and objectives for 2023 is usually an effective method of self-motivation. Having a goal (or goals) in mind might motivate you to work harder, work smarter and be more focused on your homeownership goals. When you achieve a short-term objective, you may feel success and pride, which might encourage you to continue creating and completing your other goals.


Adopt the 50/30/20 rule…

We know that the idea of budgeting sounds overwhelming. But the 50/30/20 rule is a great place to start. With this new budgeting method, you allocate:

  • 50% of your income on your essential “fixed costs” (e.g. your rent and bills)
  • 30% on your unessential “variable costs” (i.e. gym memberships, hobbies)
  • 20% toward your savings

With the 50/30/20 budget, you could allocate up to 30% of your monthly income—your entire “variable costs” amount—toward a new project – owning your home! This, when added to the 20% can be huge, however, you may want to start small, at least until you are positive that this is the right ‘fit’ for you and that you want to continue.


Visualise your saving made easier

Another easy way to save for your new home is to create a dedicated savings account for it and watch how this fund grows and grows and grows.


Expenses down…Savings UP!

After you may have created a budget and have a dedicated a separate saving account, you may want to start looking at trimming your expenses to boost your savings. Consider making temporary sacrifices to achieve homeownership more quickly. Small daily expenditures, such as lattes, can cost you thousands over a span of years so we need to be more mindful of how we spend and what we spend on.


Become Home Smart

Buying a home or land is one of the most rewarding investments you can make and there are many ways to get ready for it. By staying motivated, creating a budget, managing your expenses and starting a separate savings account, you can take steps towards making homeownership a reality in 2023. Check out TTMF’s 2% Program and 5% Mortgage Program to read up about TTMF’s mortgage rates…the best on the market.

Remember, TTMF is always here to help. Make an appointment with a knowledgeable TTMF representative by logging on to to chat online or call 623-TTMF.

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We’ll take you from here…to home. Let’s get started…today!


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