John had a mission to find a long-lost family heirloom. After rescuing a dog that was about to drown, he discovered much more than just the family inheritance.
John had settled in an old cabin searching for a long-lost family treasure: a gold medallion bearing the family coat of arms. He spent his days working online and his evenings studying antiques on various specialized websites, hoping to find the medallion.
His grandfather cherished the medallion, which he had received from his father years ago. He often spoke about it with great nostalgia. So, John decided to find it.
However, that day wasn’t about work or family. On that particularly cold winter day, all John wanted was to enjoy a day of fishing. As he prepared his hook on the cabin porch, he suddenly heard a faint bark coming from the lake.
At first, John ignored the bark, but as it turned into desperate whimpering, he became worried and decided to check what was happening.
“You really are a lucky dog,” John said, pausing with a sudden realization. “Yes… I think that’s what I’ll call you. Lucky.”
As he approached the lake, he saw a Labrador that had fallen into the ice, struggling to stay afloat. John immediately returned to the cabin, grabbed a rope, and rushed back to the lake. He quickly fashioned a lasso and caught the dog, pulling her from the freezing water. The dog shivered, helpless, and appeared to have an injured paw.
John quickly wrapped her in a blanket and brought her home. He warmed her by the fireplace, fed her, and treated her wounds.
“Poor thing. You’ve been through so much. How could anyone abandon something so beautiful?” John said as he cared for the dog, who soon fell asleep.
“You really are a lucky dog,” John said again, this time with a warm smile. “Yes… that’s your name now. Lucky.” The dog gave a soft bark, as if in agreement with her new name.
From that moment, John decided to keep Lucky as his companion. Over the weeks, John continued his search for the family heirloom.
What made the search particularly difficult was that he wasn’t exactly sure what he was looking for. Some family members said it was a gold medallion, others a pendant. The only thing they all agreed on was that it bore the family emblem.
The last connection to the lost family inheritance was a pouch with an embroidered family crest, which was where the relic had been kept until it disappeared, according to his grandfather. John tirelessly pursued his quest night after night. Every evening, he scoured antique photos but found no clues. And every evening, Lucky sat by his side for company.
One night, after another fruitless search, John lost his temper. While sitting at his desk, examining data as usual, he suddenly stood up and threw the pouch to the floor. He placed his hands against the wall, trying to calm down and brace himself.
“I’m done! This is hopeless! I’ll never find that stupid thing!” John shouted in frustration. Lucky whimpered sympathetically, sensing her new master’s distress. Feeling Lucky’s concern, John began to pet her. “Sorry, Lucky. I’ve had enough. I don’t want to search anymore. Besides, I’m not alone now. I’ve got you. I won’t waste more time on this nonsense. From now on, it’s just you and me.”
John examined Lucky’s injuries, which were nearly healed. “Once you’re fully recovered, I’ll teach you a few tricks. How does that sound?” John asked, to which Lucky responded with enthusiastic barking and a wagging tail.
“I think the better question is, what are you doing in my cabin?”
A week later, Lucky had fully recovered, and John began taking her for walks in the forest near the lake. But Lucky kept trying to run off into the woods.
As the situation worsened, John began to fear that one day she would run off and get hurt or lost. So he decided to cut back on the walks and instead play and train with Lucky at home.
One evening, while lying in bed, John decided to resume his search. He opened his laptop and searched online for clues about the family relic. Out of the corner of his eye, he saw Lucky dragging the jewelry pouch into the bed John had prepared for her.
“No, Lucky!” John commanded, jumping out of bed. “Bring it here,” he said, trying to take it from Lucky. But she didn’t let go, holding it tightly in her teeth.
Suddenly, Lucky bolted toward the door, pouch in mouth, and whined to be let outside. John thought Lucky just wanted to play, so he opened the door, hoping to retrieve the pouch once they were outside. However, when he opened the door, Lucky dashed into the woods.
“Lucky!” John shouted. He quickly grabbed his flashlight and ran after her.
“Lucky! Stop!” John yelled, chasing her as fast as he could. Lucky slowed down and sped up occasionally, allowing John to keep up as if she was leading him somewhere.
A few minutes later, Lucky suddenly stopped in a remote part of the forest. John caught up, panting and scolding Lucky for running off. But when John caught his breath, he noticed an old cabin in front of them. Lucky entered through the slightly open door.
“No, Lucky! Come back,” John whispered, afraid the cabin’s occupants might think they were trying to steal something. But judging by the cabin’s remote location, John figured it was likely abandoned.
As they got closer, John started recognizing the cabin, leaving him puzzled. He knew the forest like the back of his hand and had passed by this cabin many times without paying it much attention. Why had Lucky led him here?
Overcome by curiosity, John went against his better judgment and followed Lucky inside. Lucky sniffed around the cabin, exploring every corner. She suddenly stopped near the fireplace, dropping the pouch beside her.
“That’s not all. I found your brother, Steven. He’s in my car, and you can meet him right now.”
“Alright, that’s enough, Lucky. Let’s get out of here before we get into trouble,” John said softly, trying to pull Lucky toward the door. But Lucky wouldn’t budge. She was onto something. Lucky began digging in the fireplace. A minute later, she unearthed a shiny object with her teeth and placed it at John’s feet.
It was a gold medallion with an intricate design engraved on the front. John picked it up to examine it more closely. After a moment, he realized it wasn’t just any design, but his family’s coat of arms! This was the heirloom John had been searching for all along. He had almost given up, and now it was right there in his hands.
Suddenly, the cabin door opened, and an elderly man entered.
“Charlie? I’ve been looking for you everywhere!” the elderly man said, turning to the dog.
“Charlie? You know her?” John asked.
“Do I know her? I think the better question is, what are you doing in my cabin?” the man asked, grabbing the axe by the door.
“I’m sorry, it’s this dog that led me here. She insisted. I mean no harm,” John said, cautiously raising his hands in the air.
“Yeah, she can be quite insistent,” the man replied.
“I found her in the lake. She almost drowned.”
“Oh… Well, thank you. I took her in as a puppy from a nearby trail,” the man explained, slowly setting down the axe.
“And you named her Charlie? You do know she’s a girl, right?” John said with a little laugh, lowering his hands as well.
“She became my best friend, so I named her after my childhood friend. Someone I haven’t seen in a very long time,” the elderly man said with a sad, nostalgic look in his eyes.
“Where did you find this?” John asked, holding out the medallion. “My family has been searching for this medallion for years,” John added.
The man’s face suddenly grew pale. He looked confused and angry. John feared the worst, but then he saw a tear roll down the man’s cheek as he sat on the floor, defeated.
“My parents left that medallion to my younger brother, Charlie, when they passed away. They left me nothing. I was so furious that I stole it from him. Eventually, I joined the army. When I returned, I had no intention of reconnecting with my brother, so I came to live here in this cabin, hoping to sell the medallion for some money and start over,” the man tearfully explained.
“But I was told it had no value. So this cabin became my new home, and I’ve lived here ever since. I couldn’t bring myself to face my brother and apologize for what I had done. The shame has haunted me ever since,” the man admitted.
“I recently tried to burn it in the fireplace. But it remained intact,” the man concluded.
“Your brother’s name is Charlie?” John asked, surprised.
“Yes,” the man replied.
“That’s my grandfather’s name. He’s been searching for this medallion for years,” John said, stepping closer to the man.
“You’re Charlie’s grandson?” the man said, standing up to get a better look at John. “Yes, I can see it now,” the man said with a comforting smile. “Charlie brought us together,” he added, warmly embracing John as he cried.
“I think it’s time you and your brother reunited,” John said softly.
“Yes… I think it is,” the man agreed, nodding.
John couldn’t believe it. He had found the family heirloom and uncovered a family secret. He had no idea his grandfather had a long-lost brother.
That evening, John went to his grandfather’s house to show him what he had found. The elderly man couldn’t hold back his tears when he saw the medallion. He was amazed at how the dog had found in just a few days what the family had been searching for over decades.
He opened the medallion to reveal its true value. Inside was the only photo of John’s grandfather, his parents, and his older brother.
“Thank you so much, my boy. You have no idea what this means to me,” John’s grandfather said gratefully.
“That’s not all. I found your brother. Your Steven. He’s in my car, and you can meet him right now.” John’s grandfather couldn’t believe what he was hearing. He nodded hesitantly.
John and his grandfather stepped out of their small lakeside home to find Steven, Charlie’s brother, getting out of the car at the same time. Charlie approached, tears in his eyes. John stood back, Lucky by his side, watching as his grandfather and his brother embraced emotionally.
“I’m so sorry, Charlie!” Steven cried.
“I know. It’s all right now. We’re finally together again, brother,” Charlie said, weeping bitterly.
Charlie and Steven spent a long night together. They drank coffee, reminisced about the good old days, and caught up on all the important events they had missed in each other’s lives. John took photos of their time together and was extremely happy for his grandfather.
John’s grandfather and Steven agreed that Steven would leave the cabin and move in with him the next day to make up for the lost time. But in the morning, when John went to pick up Steven’s things to bring him to his grandfather’s, he discovered that the elderly man had passed away in his cabin.
His grandfather was heartbroken, but grateful for the moment he had just shared with his long-lost brother and best friend. John added a photo of the two brothers together in their old age to the medallion, only increasing its value to their family.
What can we learn from this story?
Sometimes our actions lead us to unexpected places, and we never know what we might find or who we might meet. John’s encounter with Lucky led him to his grandfather’s brother and helped heal an old family wound.
Chances for redemption exist. Steven and his brother Charlie found a second chance at redemption in their old age, after all those years.
Share this story with your friends. It might brighten their day and inspire them.
How to Own Your Dream Home
For most people, their first home isn’t their dream home. It starts off nice enough. But as time goes by and your family grows, starter homes tend to get a little . . . cramped.
But don’t hate on your current home too much. Because while it gave you a safe and dry place to lay your head at night, it was also setting you up to own your dream home someday.
We’ll show you how it all works and walk you through the steps that’ll get you in your dream home—one you can actually afford!
How to Get Your Dream Home in 5 Steps
Here are the steps:
- Follow the Financial Basics
- Find Out How Much Equity You Have
- Set Your New Home-Buying Budget
- Find the Right Dream Home for You
- Be Picky and Patient
Now let’s cover each step in more detail.
Step 1: Follow the Financial Basics
First thing’s first—you have to get out of debt, get on a budget, and build up an emergency fund of 3–6 months of expenses. Sounds pretty basic, right? If you haven’t completed these steps, then you’re not ready to upgrade to your dream home . . . yet.
Now, when you’ve got house fever, it can be hard to focus on paying off debt or saving an emergency fund before you upgrade your home—especially when you’re feeling the pressure of rising home prices and interest rates.
But whether it’s your second or third house, you should only buy a home when you’ve covered the financial basics we mentioned above. Then you’ll be ready to start the journey toward owning your dream house.
And that journey starts with your home equity. What’s equity? Well, we’re glad you asked . . . that brings us to the next step.
Step 2: Find Out How Much Equity You Have
Home equity is a pretty simple concept: It’s your current home’s value minus whatever you still owe on your mortgage.
See, in most cases, your home’s value increases over time. Similar to other long-term investments (like retirement accounts), homes gradually increase in value. There have been periods of ups and downs in the market to be sure, but the value of real estate has consistently gone up. According to the St. Louis Federal Reserve, the average sale price of a home has increased over 2,300% from 1965 to 2023! And in the last ten years (2013 to 2023), there’s been a 68% increase.1 As your home increases in value, so does your equity. In real estate terms, this is called appreciation.
Other factors that increase your home’s equity include:
- Added value: Home improvement projects like adding square footage, updating fixtures and appliances, or even just slapping on a new coat of paint can add value to your home.
- Mortgage paydown: Paying down your mortgage not only gets you out of debt faster, it also builds your equity. The less you owe on your home, the more equity you have.
The amount of equity you have gives you a pretty good idea of how much money you’ll end up with after selling your house. You can use that money to make a hefty down payment and cover the other costs that come with buying a home.
Find expert agents to help you buy your home.
So, how do you determine your home’s value? Well, you can get a ballpark estimate on real estate websites like Zillow, ask a trusted real estate agent to perform a competitive market analysis (which they’ll do anyway if they’re helping you sell your house), or get a professional appraisal.
Finding out your home’s equity will involve a little math, but it’s third-grade-level stuff, so don’t sweat it.
Here’s what we mean. Let’s say your home’s current value is $355,000. When you sell that house, you’ll have to pay for between 1–3% of the sale price in closing costs, another 6% in fees for the real estate agent who helped you sell it, and whatever’s left to pay off on your mortgage.
That means you can estimate clearing over $223,000 from selling your house. That’s a killer down payment on your dream home! And if your home is paid off, that’s even more money to put down and use to pay for things like repairs and moving expenses.
Step 3: Set Your Dream Home Budget
Once you know how much you’ll clear from the sale of your home, you can start making a budget for your dream home.
The key to owning your dream home (instead of it owning you) is to keep your mortgage payment to no more than 25% of your take-home pay on a 15-year fixed-rate mortgage, along with paying a down payment of at least 20% to avoid private mortgage insurance (PMI). Never get a 30-year mortgage even if the bank offers it (and they will). You’d pay a fortune in interest—money that should go toward building your wealth, not the bank’s.
So, let’s say your take-home pay is $4,800 a month. That means your monthly mortgage payment shouldn’t be any bigger than $1,200. By the way, that 25% figure should also include other home fees collected every month with the mortgage payment like homeowners association (HOA) fees, insurance premiums and property taxes.
Plug your numbers into our mortgage calculator to see how much house you can afford.
And don’t forget to budget for all those other costs that come with the home-buying process in addition to your closing fees—things like moving expenses and any upgrades or repairs you might need to make. You don’t want these hidden costs to catch you off guard or drain your emergency fund.
Step 4: Find the Right Dream Home for You
This is where things get real. After all your hard work building up your equity (and doing a lot of math—don’t forget that), you’re finally ready to start the house hunt. Woo-hoo!
But don’t lose focus. Stay zoned in by making a list of features that make a home fit your budget, lifestyle and dreams—and stick to it throughout your house hunt. Here are a few ideas to get you started.
- Don’t compromise on location and layout. If you plan to be in this home for the long haul, an out-of-the-way neighborhood or a wacky floor plan is a deal breaker. Look for a community and layout that’ll suit your lifestyle now and for years to come.
- Think about how much space your family needs. While your budget has the final say about how much home you buy, you’ll want your dream home to fit your family’s needs through different life seasons.
- Consider the school districts. If you have or want kids, the quality of the nearby school districts is probably already on your mind. But even if you don’t have kids or you’re retired, keep in mind that having good schools nearby could increase your home’s value.
- Look for a house that’ll grow in value. Are home values rising in the area? Is the number of businesses going up? These factors can help you figure out whether your dream home will turn into a good investment.
- Count the costs. Want that fancy master bathroom with the multiple showerheads and the Jacuzzi tub? Be clear on what’s a must-have and what’s nice to have. And don’t forget, upgraded features like that will make your dream home more expensive.
Step 5: Be Picky and Patient
We know you’re anxious to get into those new digs, but be patient. Wait for the right house at the right time. Don’t spend your money on a less-than-ideal home just because you’re tired of looking.
The key is finding a good real estate agent who understands your budget and refuses to settle for “good enough.” They’re as committed to your dream as you are and will have your back throughout the entire process, no matter what it takes.
In addition to teaming up with a great real estate agent, you can take a couple of extra steps to make sure you’re ready to strike as soon as the right home comes up:
- Get preapproved for a 15-year fixed-rate mortgage. Having preapproved financing is a green flag for sellers—especially in multiple offer situations. And because this puts most of your information in the lender’s system, you’ll be on the fast track to closing once your offer is accepted.
- Offer earnest money with your bid. Earnest money is a deposit to show you’re truly interested in a home. Usually it’s 1–2% of the home’s purchase price and it’s applied to your down payment or closing costs. Even if the deal falls through, you can almost always get most of it back.
Find a Real Estate Expert in Your Local Market
Now, you might be thinking you have some work to do before you’re ready to find your dream home. Or you may be realizing your years of hard work are about to pay off! Regardless, if you follow these steps, you’ll find the house you’ve always wanted and avoid a purchase you’ll regret.
Once you’re ready, connect with one of our RamseyTrusted real estate agents. These are high-performing agents who do business the Ramsey way and share your values so you can rest easy knowing the search for your dream home is in the right hands.
Find the only real estate agents in your area we trust, and start the hunt for your dream home!
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