How far to stretch for First Home?
Discussion
Just after peoples thoughts...
Been saving a while and cut all fixed outgoings to a minimum and will be looking to buy in 3-6 months. I have now fully got used to low fixed outgoings and no debt. This is making me consider how large a mortgage I want to take on.
We could find a perfectly good home for 2x joint earnings, but should we be stretching more than this? The houses obviously get nicer, but I do hate the idea of more debt.
The flip side of course is we could stretch upto 4x now and buy a forever house first time out.
Plan is either buy forever house now or buy a smaller house and save up to invest in a BTL / Shares, etc.
Would appreciate peoples thoughts....
Been saving a while and cut all fixed outgoings to a minimum and will be looking to buy in 3-6 months. I have now fully got used to low fixed outgoings and no debt. This is making me consider how large a mortgage I want to take on.
We could find a perfectly good home for 2x joint earnings, but should we be stretching more than this? The houses obviously get nicer, but I do hate the idea of more debt.
The flip side of course is we could stretch upto 4x now and buy a forever house first time out.
Plan is either buy forever house now or buy a smaller house and save up to invest in a BTL / Shares, etc.
Would appreciate peoples thoughts....
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