Would R$72,800 after closing be enough of a condo reserve?

A

ames.north

First-time buyer
After the deposit and estimated closing costs, we should have about R$72,800 left for moving, furniture and unexpected expenses. The condo appears maintained, although we know the inspection cannot uncover every first-year cost. The mortgage payment should remain comfortable. Would you proceed with that buffer or delay to save more? I’m especially interested in how others would account for service charges, immediate repairs, insurance excess and the first mortgage payment.
 
I would not delay solely because of that number. R$72,800 could be ample or thin depending on your monthly essential spending and what portion moving and furniture will consume. Split it into three pots now: untouchable emergency money, known move-in costs, and a property reserve. If the first pot disappears on furniture, the buffer is not really R$72,800.
 
That distinction helps. We have been treating the full amount as one reassuring headline rather than deciding what must remain untouched. For a condo, how would you assess the risk of building-related costs before committing? The unit inspection is straightforward, but it may say little about future service charges or work elsewhere in the building.
 
Ask what information is available about planned building work, recent maintenance and possible service-charge changes. Also clarify whether any approved cost could pass to you after closing; that can depend on the local jurisdiction and contract. A tidy unit does not necessarily mean the shared parts are financially settled. I would want answers in writing before deciding how much of the reserve is genuinely free.
 
I agree on investigating the building, but I would let the inspection findings drive the decision more than a theoretical perfect reserve. If it identifies an expensive near-term issue inside the condo, either renegotiate, postpone or preserve enough cash for it. If findings are minor and building costs look stable, delaying just to reach a larger arbitrary balance may not improve the purchase much.
 
Furniture is the easiest category to control. Budget for moving and the items needed to live safely and comfortably, then leave the rest until you have spent a few months in the space. People often discover that their original furniture plan does not suit how they actually use the rooms. That delay protects cash without delaying the purchase itself.
 
Do not forget the timing problem. Closing, moving, insurance, service charges and the first mortgage payment can cluster together even when all were individually expected. Map them by date rather than as one total estimate, and confirm the insurance excess so you know what a claim could require from cash reserves.
 
I would also stress-test the plan: after paying realistic moving costs and only essential furniture, could you cover the insurance excess, one immediate repair and the first mortgage payment without touching the emergency fund? If yes, the reserve sounds more defensible. If all four would come from the same shrinking pot, I would save longer or reduce the move-in spending.
 
One caveat: a comfortable mortgage payment does not automatically mean comfortable ownership. Service charges and repairs can move independently of the loan. Before proceeding, assign actual limits to each pot and make the purchase conditional on what you learn from the inspection and the building enquiries. The strongest sign is not the R$72,800 total, but how much remains untouchable after every known first-month cost.
 
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