THE money TIP

CityPress - - TENDERS -

Save money and time by get­ting the house you can af­ford and not the house you think you want. Shaun Rade­meyer, CEO of Bet­terLife Home Loans, points out that our property “wish lists” usu­ally ex­ceed our budget ca­pa­bil­i­ties.

“It’s all too easy when you’ve seen some­thing you re­ally want – like a big­ger gar­den, a chef’s kitchen or a re­ally great home in your favourite area – to start ra­tio­nal­is­ing about why you ac­tu­ally ‘need’ it or ‘de­serve’ it and mak­ing plans to get it.

“How­ever, such clouded judge­ment is very risky when it comes to property pur­chases, and the fi­nan­cial er­rors you could make are likely to last a lot longer. The home you thought you liked so much could end up be­com­ing a heavy bur­den on your fi­nances and your qual­ity of life for the next five, 10 or 20 years.”

To make sure you can af­ford your home, get preap­proved fi­nance first. This will en­sure that you house hunt within your budget and will be a plus for any es­tate agent look­ing to land a quick sale.

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