Home loan: Forget leases

It always catches my attention how some families or couples who earn very well continue to pay rent for years, without realizing the dream of their own home. And this is because buying a house is not an easy decision, except a unilateral decision. But above all, this indecision occurs, because sometimes we do not have a short-term financial plan, less in the medium or long term.

To get the house of our dreams it is necessary to define three themes with our partner:

 

What expectations do we have of the space and environment

What functions do we want to fulfill: room, office, exclusive parenting, etc .; about the environment, what services we want nearby or if we prefer a retired place.

 

Quote the house of our dreams

home loan

Once you have defined step 1, you can use several of the real estate websites, applications for smartphones or one of the many real estate magazines that exist in the market and take price ranges according to the location, space and conditions that you want your home to have. It is important to clarify that it will influence the price if it is a future good or a well built, number of rooms, close to parks, avenues, with or without parking, if it is a closed complex (and the benefits that this contains) etc.

 

How much we are willing to save to pay a monthly fee

home loan

If they still manage separate budgets, it is necessary that each separate fixed expenses (electricity, water, telephone, lease, gasoline or transport, market etc) and put aside all the money they could save, committing it to reach the goal and avoiding falling into superfluous expenses

Once these three points have been agreed, we can opt for financing and for this we must do the following:

  1. Enter and compare housing loans Placing the amount of the property we want to buy and calculate according to total income (both spouses) how much is the time and the fee we should pay.
  2. In order to think about the purchase of a real estate property, it is always necessary to have an initial fee, depending on the type of housing, this must be at least 10% of the total value (if they apply to housing subsidies), if they are not entitled to the subsidy value ranges between 20 and 30%. In that case, the first thing you should do is open a scheduled savings account. This account is a type of savings that banks offer with all the benefits and security of a savings account but with less facilities to withdraw money, so that it is not money that is easily spent but remains saved and should go growing month by month with the deposits of the spouses to seek to reach the goal of the initial fee, the first step to have their own home.
  3. Set a short-term goal to reach the desired amount.

If it was useful, tell me and in my next post I will help you choose the financial institution for your mortgage loan.

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