Masterpiece Social

Emanuela Piller

Match the mortgage term to your working years

When a bank sets the longest term it can offer, it usually considers your age at the end of the mortgage alongside your income. Within that limit, the choice is yours. A longer term lowers the monthly payment but usually increases the total you pay over the life of the loan. A shorter term raises the monthly figure and usually reduces the total. Neither option is right for everyone. Ask the bank for two repayment schedules on the same home, one with a longer term and one shorter, and compare the monthly payment with the total repaid. Then place each schedule against your working years and plans: children's education, a career change, retirement. Choose the term your future budget can carry, not only today's. Prepared by Masterpiece Property.

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Read the listing agreement before you sign

The listing agreement sets the rules for how your home will be marketed, so it deserves a careful read rather than a quick signature. Check that the property details are correct, then look at the asking price, how long the agreement lasts, whether it is exclusive and what the marketing plan includes. These terms shape the next few months of your sale. Pay particular attention to two practical points: how viewings and offers will be reported to you, and how either side can end the agreement if plans change. If you own a Yas Island apartment and may reloca

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