Your mortgage instalment will be the biggest expense in your household budget, so it's only natural to worry about it. That's why we advise you to bear these tips in mind before you take one out:
- Set a reasonable, objective budget before you start looking for a house.
- Ideally, your monthly mortgage instalments should not exceed 40% of your net monthly income.
Your mortgage will be with you for a very long time, so it's important to make sure that your debt capacity isn't compromised by the inevitable unforeseen events that may arise now and again.