I want enough cash left to settle into the house comfortably. My specific concern is committing too much before the inspection shows what the first year may cost.
The 4-bed country home near Johannesburg is about ZAR 4,095,000, and my current estimate leaves roughly ZAR 782,600 after the deposit and projected closing costs. That balance still has to cover the move, the initial mortgage instalment, insurance exposure, applicable service charges and any urgent work.
How would you set the reserve before buying furniture? My inclination is to ring-fence emergency savings first. If the inspection finds only routine maintenance, I could release part of the remainder for furnishing; if it identifies safety, weatherproofing or damage-prevention work, that money would stay available for repairs. Does that approach leave anything important out?
The 4-bed country home near Johannesburg is about ZAR 4,095,000, and my current estimate leaves roughly ZAR 782,600 after the deposit and projected closing costs. That balance still has to cover the move, the initial mortgage instalment, insurance exposure, applicable service charges and any urgent work.
How would you set the reserve before buying furniture? My inclination is to ring-fence emergency savings first. If the inspection finds only routine maintenance, I could release part of the remainder for furnishing; if it identifies safety, weatherproofing or damage-prevention work, that money would stay available for repairs. Does that approach leave anything important out?