Buying a first house can be risky and stressful, especially when you’re taking on mortgages higher than what you earn. Here are 4 ways to minimise the risk.

• Wait until you’re ready to buy, w/ a solid job, good savings, & can commit to holding a property for 5 years – don’t rush into it to avoid being burned.

• Consider your next move – Do you see yourself selling the property when you want to move on, or keeping it as an investment?

• Stick to what you can safely borrow – don’t take a larger loan.

• Structure your loan properly – Set it up over the shortest term & pay it fortnightly to cut down your interest bill. Or have part of the loan on revolving credit.

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