Property Goal - Global

The Property Goal in the software will allow you to set a future Goal to purchase a Property. It is set up as a one-off Goal.  Unlike other goals, using this goal does not only create an expense in the plan, it also creates an asset for the new property.  The software will assume that the Property Asset, when set by the Property Goal, will be purchased at the Event selected for that goal.

At the Property Goal Event, this future property will show up under the Assets tab, be shown as an Expense at the relevant year/age under the Expenses tab, and be included in Net/Plan Worth. 

To create a Property Goal click on the + button at the bottom right of the screen, and select the Goal tile. 

Then select the Buy Property Goal.



Complete the Property Basics screen and select Timing.  

If you have a mortgage for this property you can click Linked Debts which will link the Mortgage to this Future Property Purchase or if you need a new Mortgage for the Property, the Property Goal will also allow you to set up a new debt.

Once you have entered the Property Goal this will appear in several places on the Dashboard. It will appear under Goals; It will also appear in the Property section and if you've linked a debt the mortgage will appear under the debt section. 



If the Property Goal can be fulfilled with the assets in the plan this Goal, like the other Goals, will show as green in the plan with the % of Progress given (as seen above).

If the Property cannot be fulfilled, there will be a shortfall shown in the plan, as seen in the test case below;


As is with the Property purchase, the software will not purchase part of the property, if the property cannot be purchased in full then the software will show the whole property unfilled. You will see this in Year View>Expenses.



If the Property Goal can be fulfilled you will see this Property under the Property tab in Year View>Property at the time of the purchase.



The Property will remain in the plan until this has been sold as per the usual Property sale process 

Can I convert/link an existing property asset into a property goal?

You are not able to link/convert an existing property into a Property Goal.  You will need to delete the existing property and re-enter this as a Goal.

For more information please watch this training video.