What should you look for in buying your own home?
This will be my first home. I have gone to get pre approval from 2 banks and with my income and my fiancées income, we can borrow up to 450k provided we have a 20% deposit which would be 90k.
We have looked into different properties and are considering either buying a 3 bedroom house in the 350-400k mark or a 4 bedroom house in the 400-450k plus mark.
We would live in 1 bedroom and rent out the others.
What would be your advice what to do with either getting a cheaper 3 bedroom house and not borrowing up to the maximum or getting a 4 bedroom house and borrowing up to the maximum. Bearing in mind, if we buy a house with 1 extra bedroom or a granny flat attached, we could rent it out for more.
What do you look for in a first house compared to a first investment?
This will be my first home. I have gone to get pre approval from 2 banks and with my income and my fiancées income, we can borrow up to 450k provided we have a 20% deposit which would be 90k.
We have looked into different properties and are considering either buying a 3 bedroom house in the 350-400k mark or a 4 bedroom house in the 400-450k plus mark.
We would live in 1 bedroom and rent out the others.
What would be your advice what to do with either getting a cheaper 3 bedroom house and not borrowing up to the maximum or getting a 4 bedroom house and borrowing up to the maximum. Bearing in mind, if we buy a house with 1 extra bedroom or a granny flat attached, we could rent it out for more.
What do you look for in a first house compared to a first investment?
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