Introduction: What Are Ownership Goals?

When you think about buying a home, it’s important to ask yourself:

• Why do I want to own a home?

• What does success in homeownership look like to me?

Examples of Ownership Goals:

• A long-term investment for financial growth.

• A stable place to raise a family.

• A personal space you can customize.

• Proximity to work, schools, or amenities.

Key Consideration:
Your goals will guide major decisions like location, size, and the type of home you choose (condo, townhouse, single-family home).

2. Core Content: Aligning Goals with Priorities (10 minutes)

Defining your goals involves looking at your current lifestyle and future plans. Let’s break this down into four main areas:

1. Lifestyle Needs:

• Do you prefer urban, suburban, or rural living?

• How much space do you need (e.g., bedrooms, home office, yard)?

• Do you want a low-maintenance property, like a condo, or more space to customize, like a house?

2. Financial Priorities:

• Is affordability your main focus?

• Are you comfortable with a larger mortgage for a home that meets your ideal criteria?

3. Long-Term Plans:

• How long do you plan to stay in the home?

  • If less than 5 years, consider a property that’s easier to sell or rent out.

• Do you anticipate changes (e.g., marriage, kids, or career moves)?

4. Emotional Goals:

• What does owning a home mean to you?

  • Security? Stability? A personal achievement?

• Understanding your emotional motivations can help clarify your decision-making process.

3. Activity: Define Your Goals Quiz (10 minutes)

Instructions: Answer the following multiple-choice questions to reflect on your ownership goals.

Question 1: What’s your primary reason for wanting to own a home?
A. It’s a long-term financial investment.
B. I want stability and a permanent place to live.
C. I’m tired of renting and want a space of my own.
D. I’m not entirely sure yet.

(No “correct” answer—this helps you clarify your motivation.)

Question 2: How long do you plan to live in the home you purchase?
A. Less than 3 years.
B. 3–5 years.
C. More than 5 years.
D. I’m not sure yet.

(Correct Answer: C. More than 5 years. Buying typically makes more financial sense if you plan to stay for at least 5 years.)

Question 3: Which factor is most important to you when choosing a home?
A. Affordability.
B. Proximity to work or school.
C. Space and layout.
D. A property that will appreciate in value.

(No “correct” answer—each priority impacts the type of home and location you’ll choose.)

Question 4: What type of property best fits your lifestyle?
A. A low-maintenance condo or townhouse.
B. A single-family home with a yard.
C. A rural property with land.
D. I’m open to options.

(No “correct” answer—this helps you understand what property type aligns with your lifestyle.)

Question 5: How important is customization to you?
A. Very important—I want to make the home my own.
B. Somewhat important—I’d like to make a few changes over time.
C. Not important—I prefer a move-in-ready home.
D. I’m not sure yet.

(No “correct” answer—this helps identify if customization is a key priority for you.)

4. Wrap-Up and Reflection (5 minutes)

Reflection Questions:

• What did your answers reveal about your ownership goals?

• Do you feel clear about your priorities, or do you need more time to reflect?

Key Takeaway:
Defining your ownership goals is about understanding what matters most to you. Whether it’s location, space, or stability, having clear goals will guide your home-buying decisions and help you focus on properties that fit your needs.

Lesson Resources

1. Downloadable Tools:

   • Ownership Goals Worksheet: Identify your top priorities and align them with your future plans.

2. Infographic: “4 Key Steps to Define Your Homeownership Goals.”