there are many things that go into buying a new home

if you are going for a loan from a bank / mortgage , you will need to put some money from your own pocket – generally 15 – 20 % of the house value

then comes the issue of the monthly payment – most banks will limit this to max 40 % of your net income because you need money for your other expenses like groceries , taxes , etc

please make sure that you also keep saving for your goals like retirement and children’s education in various instruments

the lower the interest rate / mortgage rate , the better it will be for you – the monthly payments will be less

but please remember , a house is a place to live in , not an investment – it grows in value , but also can reduce in value ( for example , the 2008 global financial crisis )

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