One of the things you need before you buy a home is a clear financial plan. This is needed for a couple of reasons:

  1. to demonstrate to the lender that you’re a “good risk” – that you can manage your money and chances are high that you’ll pay off the loan as per the agreement that you sign.
  2. to demonstrate to yourself that you can
    a. save
    b. manage repayments
    c. still enjoy life.

These are all really important components that need to be accounted for. If buying a home means that you need to live the next x number of years in financial hardship, then you need to consider if it’s worth it.

Or change your plans to buy something cheaper that will cause less stress.

If you can confidently see that you can still enjoy a night out, a new outfit and even a holiday as well as your mortgage repayments, then that’s a great thing. And that’s the aim.

You don’t want to sacrifice your lifestyle for a home but if you can figure out how to have it all, then we’ll be cheering you on, every step of the way.

If you’re having trouble making the numbers add up, get some outside help. Talk to a trusted friend, a financial planner, your accountant or us! We’re here to help and want to help you achieve ALL your dreams.