It is a very common mistake , that when infact realises very late or probably never even at times. When we look at a house / property and it looks like a dream house to us, we instantly connect with the property and get very emotionally motivated to buy it. Guess what happens when emotions take charge ?. Logic goes out of the window and your love affair ends up costing you a lot of money forget making any.
In order to avoid that, make sure you use a spreadsheet where you put in the price of the property, its rental, the amount of interest you are paying on the amount of loan you have taken and see if the numbers make sense. i.e. does the return look sustainable? if yes go for it otherwise mover on. There is never a perfect house or property to buy, and its something you can always get better at so make sure if anything is worth falling love with its the deal with the numbers adding up in your favour. You have to become a sharp number cruncher to understand if any deal is worth it, otherwise move on to the next property.
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