What a broad item to discuss, many younger clients come to us with ideas of buying properties well beyond their means and this can lead to many problems. Most want their big dream home first off without really being able to afford it so the finance is tailored to suit their payment capabilities at the moment.
All people know that circumstances can change so quickly from there being a duel income to a single income overnight. I suggest to my younger and sometimes my older clients to tailor their home build and loan to suit a single income, I know this is a very conservative advice but it can save a lot of stress. I live within 5 km from numerous new estates and the mortgage stress levels are very high causing added family pressure with most being able to be avoided.
We offer avoidable housing solutions in many areas and have 30 plus financial institutions with varying lending criteria that our brokers use. The old saying size does matter if you cannot afford it.