Work Out How Much You Can Afford
You have decided that you are buying a property, but exactly
how much can you afford? On top of the cost of the house itself, there are many other, one-off expenses involved in buying a home and moving which can total up to between £2,000 - £5,000. In order to
get a good idea of what sort of homes you can realistically hoping to buy, you also need to take these extra costs into account. To help you do you other improvment which may be
required.
WORK OUT HOW MUCH YOU CAN AFFORD
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Calculating Your Price Range
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How Much Should You Borrow?
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The One-Off Costs
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Calculate Your Price Range
You need to work out:
- The amount you will get from the sale of any current home
- The amount you can borrow (see How Much to Borrow?)
- The amount you have in savings or investments which you can use
- Once you have done this, work out how much the other one-off costs of buying and moving will add up to (see One-Off
Costs)
- Deduct this sum (4) from the total sum of 1, 2 and 3 and you will have a rough estimate of the kind of price range you are
looking at