How much real estate can I afford?

Show notes

It's crucial to consider both sides of the equation: what the bank thinks you can afford and what you can afford based on your lifestyle and spending habits.

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Understanding your monthly expenses is key to making an informed decision. Only you know how much you can set aside for mortgage installments. Additionally, consider the extra costs associated with owning a property and have an emergency fund in place to handle unexpected expenses.

On the other side, banks evaluate your creditworthiness based on various factors, such as retirement plans, down payments, savings, and financial obligations. Your residence status as a foreigner also plays a role, with EU citizens and Blue Card holders having better chances in some cases.

Seek professional advice and explore multiple financing options to find the best fit for your situation. At Urbyo, our financing experts can guide you through the evaluation process and assist you in understanding your financial capacity during your property search, all free of charge.

Ultimately, finding a balance between comfortably covering expenses and maintaining a healthy financial outlook is essential when buying a property, whether for primary residence or investment purposes.