Are you in the market to buy a home?
Ingram discussed the following checklist for deciding if you can afford to buy a home:
Have you got a deposit saved?
Do you have enough money to cover transaction (e.g. bond registration, transfer fees, etc.) and moving costs?
Do you have an emergency fund for unplanned costs?
Is your income stable and are you sure you can repay the full monthly costs (i.e. mortgage, rates/levies, insurance and maintenance expenses, etc.)?
- Are you planning to stay in the house for eight years or more?
Listen to the informative interview below and/or scroll down for quotes from it.
It’s better to rent if you’re going to move in, say, two years’ time.— Warren Ingram, Galileo Capital Financial Advisor
House prices don’t increase by more than a percent or two above inflation... I don’t see property as a no-brainer investment.— Warren Ingram, Galileo Capital Financial Advisor
I shared accommodation until I was 30.— Warren Ingram, Galileo Capital Financial Advisor
Set aside one percent of the value of your property per year for maintenance.— Warren Ingram, Galileo Capital Financial Advisor
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