I always recommend working backward from what you feel comfortable paying for a monthly mortgage amount.
You will also have your property taxes and strata fees (if applicable) and other utility bills on top of it.
Especially when buying your first house, I recommend buying a little less than your maximum approved limit to allow for a bit of a buffer and to get used to the home ownership expenses.
Cait Holmes is a mortgage broker in the qathet region.
If you have expert advice to share with Peak readers, email [email protected] for submission details.
