My concern is having enough accessible cash for the first few months, not simply qualifying for the largest purchase possible. The property I am considering is a 3-bed condo in Rio de Janeiro priced at about R$2,464,000, and completing the purchase would leave me with around R$190,400.
That remainder would need to cover the move, basic furniture, the first mortgage payment, service charges and anything important raised by the inspection. I also want the insurance excess available without dipping into money for day-to-day emergencies.
How would you split the R$190,400 into an untouchable reserve, known moving expenses and a temporary pot for immediate repairs? I could delay most furniture and upgrades until I have lived there for a few months. If the sensible protected amount leaves too little for the likely inspection work, I would take that as a reason to target a cheaper condo.
That remainder would need to cover the move, basic furniture, the first mortgage payment, service charges and anything important raised by the inspection. I also want the insurance excess available without dipping into money for day-to-day emergencies.
How would you split the R$190,400 into an untouchable reserve, known moving expenses and a temporary pot for immediate repairs? I could delay most furniture and upgrades until I have lived there for a few months. If the sensible protected amount leaves too little for the likely inspection work, I would take that as a reason to target a cheaper condo.