Post by @marina.orzhekhovska

🏡💰 JUST BECAUSE THE BANK APPROVED YOU FOR $600,000 DOESN’T MEAN YOU SHOULD SPEND $600,000! Here’s how buyers end up HOUSE POOR even with a good income. 👇 🏦 1️⃣ BANK APPROVAL IS NOT YOUR BUDGET The bank calculates how much you can borrow, not necessarily what you can comfortably afford. Many buyers shop at their maximum approval, fall in love with a home and stretch their budget. Six months later, reality hits! 💸 🏡 2️⃣ YOUR MORTGAGE IS ONLY THE BEGINNING Don’t forget about additional expenses: 💰 Property taxes 💧 Water, hydro and gas 🛡️ Home insurance 🏦 Mortgage default insurance, if applicable 🔧 Maintenance and repairs These expenses can add hundreds of dollars to your monthly costs! 🔨 3️⃣ UNEXPECTED REPAIRS ARE EXPENSIVE! Things break, and repairs aren’t cheap! 🔥 Furnace: $3,000–$5,000+ 💧 Water heater: $1,500–$2,500+ 🏠 Roof: $6,000–$15,000+ 💰 My advice: Set aside money every month for unexpected repairs! 🛋️ 4️⃣ BIGGER HOME = BIGGER EXPENSES 🪑 Furniture 🌿 Landscaping 🚗 Longer commutes 💡 Higher utility bills 🧹 Regular upkeep These costs might not appear in your mortgage approval, but they’ll definitely affect your budget! ✅ 5️⃣ MY ADVICE TO BUYERS ✔️ Get pre-approved ✔️ Set a comfortable monthly budget ✔️ Calculate ALL ownership costs ✔️ Keep an emergency fund ✔️ Leave money for savings, vacations and enjoying life ❤️ The best home isn’t the most expensive one you qualify for. It’s the one you can afford while still enjoying your life! 📩 Thinking about buying? DM me BUY and let’s find a home that fits your lifestyle AND budget! 👩🏻‍💼 Marina Orzhekhovska 🏡 Real Estate Broker 🏆 Top 1% in Canada 👑 Royal LePage Chairman’s Club 💰 $300M+ in Transactions 📍 Toronto | GTA | Simcoe Region 🌎 EN • UA • RU #TorontoRealEstate #FirstTimeHomeBuyer #HomeBuyingTips #GTARealEstate #RealEstateAdvice