Quick Answer

Buying a home is not inherently a mistake. The risk begins when you treat the bank’s approved amount as comfortably affordable and ignore upfront costs, maintenance, insurance, taxes, fees and interest-rate changes.

Correct Interpretation and Practical Use

Start with the Core Point

The source treated 30% of income as a hard ceiling. A sounder assessment considers total housing cost, existing debts, income stability, emergency reserves and cash flow after a rate rise or income interruption.

What to Check

List upfront costs such as the deposit, legal fees, renovation and moving.
Include instalments, maintenance fees, taxes, insurance and repairs.
Stress-test a higher interest rate and a temporary loss of income.

If your income fell temporarily, could you still cover essential living costs and preserve an emergency buffer after all housing costs?

Limitations and Trade-offs

Any indicator, rule or example offers only one viewpoint. Outcomes can change with time, fees, tax, product terms, personal cash flow and market conditions. Use the latest official information and the conditions that apply to you.

Frequently Asked Questions

Does mortgage approval prove affordability?

No. Approval reflects the lender’s criteria and information; long-term affordability still depends on your full cash flow, other goals and buffers.

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Sources and Verification Notes

Sources were reviewed on 22 July 2026. The live Chinese post was the starting point, not the controlling factual authority.

Educational Purpose

This article provides general financial education, not personal investment, legal, tax or product advice. Check the latest official information and the terms that apply to you before acting.