#guideyouhome
We all dream of the huge homes we see in films and TV series, complete with everything from swimming pools and saunas to bars and cinema rooms.
For many people this will always remain a dream but that doesn’t mean that you can’t get a really good home that meets your actual needs.
Before launching your search for a property, it’s important to know what you can afford – otherwise you’re just wasting your time as well as those of other interested parties such as sellers, estate agents etc.
Perhaps the easiest way to determine what you can afford is to use one of the online repayment calculators that most banks have on their websites.
This will give you a brief indication of what you can afford but is only a guide as figures can vary depending on your circumstances, spending pattern, credit rating etc.
To get a true indication of what you can afford you would be best speaking to a lender to see what they are willing to offer you. Alternatively, a broker will weigh up your financial situation and return to you with a range of offers from a wide variety of lenders.
Be sure to factor in additional costs in what you borrow. If you have €250,000 to spend, there is no point blowing the whole budget if you then have nothing left to redecorate a fixer-upper or to furnish a new build.
A lender or broker will guide you through the process to ensure there are no major surprises. You can find a list of lenders as well as MyHome.ie’s Mortgage Calculator at www.myhome.ie/mortgages
#guideyouhome
