Gen Z wants a home: How to start? How to plan to afford payments from a young age! Just know these 3 financial tips

Buying a home at a young age: How to afford the payments?

Many people think, “Can Gen Z really afford a house?” It sounds impossible, doesn’t it? But in reality, with good planning, an assessment of one's financial capability, and choosing the right time… owning a home in your late 20s or even before 30 is no longer a pipe dream!

Today, Proview Living would like to share 3 simple tips to help you become a homeowner at a young age, without relying on your parents!

1. Accurately check your repayment capacity! Don't overextend yourself

Before deciding to buy a home, the first thing you need to do is clearly look at your income and expenses to see how much money you have left each month, and then allocate only 30-40% of your monthly income for home loan payments!

Example: If your salary is 30,000 baht → your monthly home payment should not exceed 9,000 - 12,000 baht

Because don't forget, besides your home loan, you still need money for living expenses, credit card bills, travel, and plenty of other emergencies. If you can't afford the payments from the first year, your life will be ruined!

2. Choose a good interest rate = comfortable payments

Home loan interest is another important variable that causes many people to struggle with payments because they only consider the monthly installment but forget to look at "how much the interest is".

The trick is: Compare loan offers from several banks to find the lowest starting interest rate (currently, some banks offer rates below 3%). Because low interest = low installments = comfortable payments, and you'll have money left for daily expenses.

Additional tips:

• Don't forget to check how long the special promotional interest rate lasts.

• Always check what the rate will be after the promotion ends.

3. Start small but worthwhile, choose a home that's "just right"

Many people make the mistake of "wanting a big house first" without considering their budget. The result is often being unable to afford payments or putting too much pressure on themselves.

The best way: Start with a townhome or a small house with complete functionality and an affordable price, then gradually upgrade later.

A good home doesn't have to be big, but it should meet your lifestyle needs and not be a financial burden. Some projects even offer full complimentary items, such as air conditioners, curtains, or free common area fees for the first year, which can save a lot!

Summary: To own a home at a young age, start "planning" today

• Home payments should not exceed 30-40% of your income.

• Check interest rates carefully; low interest means comfortable payments.

• Choose a home that fits your budget, not too big.

You can own a home at a young age if you start correctly! And if you're unsure where to begin, Proview Living is always ready to be your consultant.

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