Here are a couple of examples of how much your loan repayments will cost. Arm yourself with information!!

Based on an interest rate of 6.84% over 30 years:

$250,000 home loan would be $1636 per month
$300,000 home loan would be $1963 per month
$350,000 home loan would be $2291 per month
$400,000 home loan would be $2618 per month

You need to be conservative when borrowing and allow for at least a 1.5% increase to your loan and make sure you would still be able to make your repayments. The lesson I learned (too late!) was NEVER borrow to your full capacity - leave room to move in your budget in case something happens.

If you've picked the land and the house you should have a rough idea of the end price (providing you don't go over budget). So use that price and work out the repayments (most bank websites have home loan calculators) and see if you will be able to manage.

Good luck!