Quote:
Originally Posted by Professor Farnsworth
Rule #1, borrow what you can afford, on one income, factored on a high theoretical interest rate, then make extra repayments. Never borrow high amounts just because the bank says you can. Just because you can, doesn't mean you should. Words to live by.
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Those are wise words. I split with the wife and after I pay the mortgage and bills each week I still have a bit left over. Always gear it incase there is a rainy day I guess. Looking back when I bought it was at the limit for a dual lowish income however over a few years the borrowed amount did not change but my income did so it works out I pay much less for a mortgage then to rent even a 2 bedroom unit in my area these days. And I bought in 2012.