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You’re considering to buy a home rather than continue renting. Review the following factors and indicate for each whether it points in favor of buying or not.
You have a stable job or reliable source of income:
You’re considering to buy a home rather than continue renting. Review the following factors and indicate for each whether it points in favor of buying or not.
You can afford a down-payment covering 2.5% of home price:
You’re considering to buy a home rather than continue renting. Review the following factors and indicate for each whether it points in favor of buying or not.
The monthly mortgage payment is 20% of your income:
You’re considering to buy a home rather than continue renting. Review the following factors and indicate for each whether it points in favor of buying or not.
Your banker offers you a mortgage with deferred interest for the first 3 years:
You’re considering to buy a home rather than continue renting. Review the following factors and indicate for each whether it points in favor of buying or not.
Your mortgage payments are 40% of income, but interest rate are adjustable and expected to decline soon:
You’re considering to buy a home rather than continue renting. Review the following factors and indicate for each whether it points in favor of buying or not.
Rental yields are 8% while mortgage interest rates are 4%:
You’re considering to buy a home rather than continue renting. Review the following factors and indicate for each whether it points in favor of buying or not.
Stocks are overvalued and property seems to be the only attractive investment:
You’re considering to buy a home rather than continue renting. Review the following factors and indicate for each whether it points in favor of buying or not.
You’re about to get married and want a stable place to raise a family:
You’re considering to buy a home rather than continue renting. Review the following factors and indicate for each whether it points in favor of buying or not.
House prices equal 20 times average annual income:
You’re considering to buy a home rather than continue renting. Review the following factors and indicate for each whether it points in favor of buying or not.
The average price-to-rent ratio is at a 40-year low:
You’re considering to buy a home rather than continue renting. Review the following factors and indicate for each whether it points in favor of buying or not.
A new railway line is built to the suburb where you want to buy:
Joanna is a successful lawyer at a large corporate law firm based in London. She earns £45,000 a year. She has £50,000 in savings and has finished paying off her student loan.
Joanna always dreamed of living in her own place. Her ideal flat costs £500,000. She was told by her banker that she qualifies for a 30-year mortgage with 5% interest, and must put down a 10% deposit.
Can Joanna afford to buy the flat?
Joanna is a successful lawyer at a large corporate law firm based in London. She earns £45,000 a year. She has £50,000 in savings and has finished paying off her student loan.
Joanna always dreamed of living in her own place. Her ideal flat costs £500,000. She was told by her banker that she qualifies for a 30-year mortgage with 5% interest, and must put down a 10% deposit.
If the flat cost £200,000, could Joanna afford to buy it?
Joanna is a successful lawyer at a large corporate law firm based in London. She earns £45,000 a year. She has £50,000 in savings and has finished paying off her student loan.
Joanna always dreamed of living in her own place. Her ideal flat costs £500,000. She was told by her banker that she qualifies for a 30-year mortgage with 5% interest, and must put down a 10% deposit.
If she buys the flat for £200,000 and takes out a £150,000 mortgage, what is her net worth after the purchase?
Joanna is a successful lawyer at a large corporate law firm based in London. She earns £45,000 a year. She has £50,000 in savings and has finished paying off her student loan.
Joanna always dreamed of living in her own place. Her ideal flat costs £500,000. She was told by her banker that she qualifies for a 30-year mortgage with 5% interest, and must put down a 10% deposit.
If she makes a mortgage payment of £1,040, consisting of £625 interest and £415 principal, how has her net worth changed?