Are you a homeowner now? I hope you are.
If not, I would like you to study this lesson thoroughly. One of the best financial decision I made was to buy our first home as soon as I could.
Property value appreciates at least in tandem with the inflation rate. Let’s assume a conservative capital appreciation of 3% per year, coupled with the rental yield of another 3%. Your property can provide a steady 6%.
Moreover, you can use very high leverage up to 9 times – pay 10% down payment and borrow 90% through a mortgage. Meanwhile, the interest rate is low, around 4%. So it is a good idea to own your house as soon as you can.
In this training, I show you the top financial consideration for the first-time homebuyer. Make sure you go through the MADTR in details.
Work alongside my example. By the end of the training, you will be able to estimate quite accurately:
- What is your comfort level of DSR?
- What is your current DSR?
- How much mortgage can you qualify?
- What’s the property price that you can afford comfortably?
- How much cash do you need to prepare?
Discover the following the training:
– How much capital is required for home hunter?
– What are the recurring expenses you need to cater for after owning a home?
– How much is required for the transaction cost?
– How to determine your specific “affordability”?
– How to calculate how much mortgage you can take up?
– What’s the magic formula to own a home without stress?
Post in the comment below: What is the property price that you can afford comfortably?