Can You Afford to Buy a Home? Here’s How to Know

1. Know your affordability zone

A great starting point is to combine:

• Your current rent, and
• The amount you’re already saving each week

This gives you a rough estimate of what you could comfortably manage in mortgage repayments. If that number works within your budget, you’re already halfway there!

2. Use a mortgage calculator

3. Compare renting vs buying

Renting might seem cheaper at first, but over time it adds up… without building you any equity.

Let’s look at an example:

* Based on 6% annual growth rate

Over 30 years, that’s a huge difference—and it’s why many people choose to buy instead of renting long-term.

4. Grab our free budget tool

Budgeting isn’t just about saving—it’s about feeling confident with your money. Use our free budgeting template to get a clearer view of your spending and saving habits.

5. Be realistic, not risky

Start with a home that fits your finances. It doesn’t have to be your forever home—it’s a stepping stone. Getting into the market now could mean upgrading later with more equity under your belt.

6. Shop around for lenders

Most people stick with their bank… but that could cost you thousands over time. That’s why we work with Simplii Finance. Their brokers compare loans from multiple lenders to find the best deal for your situation—not just what one bank can offer.

Your home is more than a place to live

It’s your future. Every repayment chips away at your loan while your home (ideally) grows in value—building equity that could help you buy again, invest, or renovate down the track.

Whether you're just starting to explore or you're ready to take the next step, we’re here to help you make an informed decision.