Personal financial considerations

Generally speaking:

Mortgage you can afford = Income - other expenditures

For "other expenditures", you should figure out how much you spend and save on a monthly basis. The following checklist is to help you make sure that you aren't overcommitting yoruself.

Be realistic when preparing your budget

No extra comforts in a home are worth the extra stress of not being able to meet necessary expenses with available income. There is plenty of "wishful thinking" in human nature, but the reality is that you must be able to clear your monthly bills, and thus you must resist impulsive temptations that can't be worked into the list above.

Need more real estate buying advice?

Jump straight to other Buyer Help guides, tools and features

• 7 steps in buying a home
• Online house and property listings
• House and property auto-search
• Things to consider when buying a home
• Checklist of costs when buying a home
• Mortgage payment calculator
• Personal financial considerations
• Home inspections

If you have any questions about buying homes or property, you can send Dale Kantymir a message.