Short answer：A bank’s lending decision is not a comfortable household budget. Allow for living costs, dependants and regular savings before deciding what payments are sustainable.
Work backwards from actual spending
Use recent bills to separate essential and flexible spending. Budget annually recurring insurance, tuition and tax while retaining their real payment dates. Gross income minus the mortgage is not disposable cash.
Allow for change
Compare two-income and one-income scenarios and higher interest rates. A longer term can reduce payments while increasing total interest. If the plan only works with the entire expected bonus, reconsider price, deposit or timing.
Before deciding
- Protect essential quality-of-life spending
- Include management and repairs
- Update the budget when family circumstances change
Sources and method
Sources support the specific rules described. Checklists and hypothetical calculations are editorial explanations, not measured market results or individual approvals.
Revision：Removed unsupported experience, case outcomes and statistics; corrected the topic-specific rules and limitations described above.
Scope：General information only, not personalised legal, tax, immigration, admissions or investment advice.