How much should you borrow for your dream home
The first question which comes to your mind when you buy your home is how much should you spend to buy your home. As most of the fund comes through mortgage unless you are super rich, it is very important to plan your mortgage properly. As I am also planning to buy my first home, I thought of sharing my knowledge with you which I received from friends, advisers and various other sources.
Planning for your home mortgage is a big pain however this pain can be reduced if you plan carefully. There are too many questions involved, how much should you borrow, which is the best bank, interest rate, tenure of mortgage, hidden charges, prepayment etc etc... I will try to answer only the first question here and leave the rest for later.
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