We explain how to tell whether you can buy a house on your own.
Many clients ask us whether it's possible to buy and finance a home as a single buyer on one salary. More and more single people are buying homes, both to invest and to live in, and are looking at all kinds of home and mortgage options.
Buying a home on your own is entirely viable as long as you meet the requirements for a mortgage and have the necessary deposit.
If your ability to pay is good and you have savings, you can buy a home without any problem.
How do I know if I can buy a house on one salary?
You can book an appointment with any bank to carry out the financial study. Some banks may impose more restrictions than others, so ask several to have different options and get the best terms.
You can also ask us for a free study to tell you your real chances of buying a house and getting a mortgage on your own.
How do you buy a house on your own when you're married?
If you're married under the community property regime, any property you buy will become part of your joint marital property.
If you want to buy on your own while married, you'll need to be under the separation of property regime. Otherwise, you and your spouse will need to go to a notary to change your marital regime from community property to separation of property, so you can acquire the property on your own. Once you've acquired it, you can switch back to community property whenever you like. You can make these changes at any time.
What house can I afford?
The value of the home you can buy will depend on your monthly income and the savings you have.
Request your free personalised study and find out in minutes what house you can afford, how much deposit you need and what mortgage you can apply for.
How do I know if I can afford a house?
To find out whether you can afford to buy, request a free study and we'll tell you everything.
Blog written by:
Juan Rosado
CEO
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