If a bank gives me a loan to buy a condo and takes my whole monthly salary to pay it back, but I only have a side income of 7,000, should I still go for it?
Apr 23, 2026As a finance person it just depends on the interest fee
Apr 23, 2026I assume renting the condo will give you back some birrs back, and I don't know your situation but with a little bit of lifestyle changes you could use the rent + 7k. BUT, only if you estimate you could sell the condo with at least 40% increase of your initial purchasing fee within 1 year (be wise about locations and floors, sites, etc). Otherwise I wouldn't go for it. Talking from lived experience.
Apr 23, 2026***1 or 1.5 years
Apr 23, 2026