house buying abilities
house buying abilities
Out of context: Reply #18
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- trevedda0
keep to borrowing only 3 or 3.5 times your annual salary or 4 times if you think you may be earning a bit more someday soon.
I wouldn't recommend your mortgage costing you more than 50% of your monthly after tax income. I used to calculate one third mortgage, one third bills and contingency and one third personal spending. The last two blur if you count food as personal or as a "bill". Inetrest rates are about to rise so don't over stretch. BUT do consider where you are heading in your job. If you will move jobs, earn more cash etc then you can afford to be stretched now in order to gain a little later on.
It's always hard but it will be worth the pain in the long run!