You must be able to afford your mortgage payments every month without fail, in both the short and long term. You’ll want to be able to enjoy life too, from shopping trips to holidays, nights out to treats. Living frugally until you save up for a deposit is common place, but doing so once you live in your new home is far from ideal.
This is where new build homes come into their own, because an older home might require lots of work doing to it. A newer home, for instance, while it’ll be a blank canvas, won’t require extensive repairs. The costs incurred will be decorating and interior design related, rather than structural, and will ensure you’re living in a house that feels like a home.