Whether you are moving to Namibia as a permanent resident, or simply looking to rent a short-term apartment while you learn the language and get your bearings, knowing how much house you can afford will help with planning your financial future in this new country. There are several factors that determine how much house you can afford, including the type of residence you choose and whether you have children. In this article, we’ll take an in-depth look at these factors so that you can get an idea of how much house you can afford in Namibia and then choose accordingly.
Rent vs. Buy
When considering how to start a business, it’s important to understand that most businesses require some sort of investment upfront. One of these two options for short-term financial freedom tempted many first-time entrepreneurs: buying a home or renting an apartment. Although each has its own pluses and minuses, if your goal is long-term financial freedom, renting might be a better option for you than buying.
How much house can you afford in Namibia?
If your income is N100,000 per year and you spend about N30,000 per month, then to find out how much house you can actually afford we need to do some calculations. There are lots of factors that will influence whether it’s wise for you to take out a loan as well as where in Namibia your home will be located.