This article will talk about the mortgage question - is it profitable to buy housing on credit, and even at interest.
Content
In our country, almost any person, entering adulthood, is thinking about the acquisition of their own housing. What can not be said about Western youth, because there is renting housing there is a more familiar thing than its purchase. Our youth has different priorities. The eternal expression “my house is my fortress” forces young people to take risks, taking a mortgage for housing. Let's try to figure out and weigh everything “for” and “against” - are these risks justified in fact and in all cases?
Mortgage market: What do you subscribe to when making a mortgage for housing?
A little statistical numbers. For example, unlike the inhabitants of the countries of the former post-Soviet space, where the percentage of homeowners reaches 80-85%, in the USA only 65%of the population have housing, in Austria-55%, in Germany-46%. And in the most prosperous in the standard of living of Switzerland, only 39%, while the rest prefer to rent it.
A little background
- Of course, to a greater extent This is due to the mentality. Partly - with greater social security in the conditions of the country's economic stability and better working laws. But to a large extent and with a corny simple calculation - why for many years to drive yourself into financial bondage, ultimately overpaying a double, or even triple price for housing, if you can do with more favorable rental conditions. Especially since So far, a mortgage has not been finally paid, the bank is still the actual owner of the housing.
- Mortgage credit lending -The phenomenon is relatively new in our country, which arose in the late 90s of the last century. When it became impossible to freely receive an apartment from the state. But due to default, inflation and a sharp fall in the incomes of the population at that time, it did not have a wide development. And only from the beginning of the two thousand years, the mortgage market began to form.
- Its development was difficult, with ups, falls, significant changes in interest rates. And as a result - the lack of stability and confidence of the borrowers in the future. Not everyone could afford a mortgage loan, and many borrowers were in a difficult situation due to the crisis and loss of jobs and even lost housing. Many banks were also forced to leave the market due to bankruptcy and lack of funding.
- In the future, a favorable situation has been outlined in the country: interest rates decreased from year to year, the amount of lending increased. Accordingly, there was a decrease in a monthly contribution, and mortgage lending became accessible to a larger population.
- Mortgage boom In Russia, March 2018 is considered when the interest rate broke all previous records, decreasing to 7.25%. And after that she gradually headed for growth. Further forecasts of experts are very cautious, but we can conclude that the growth of interest rate does not contribute to the development of the mortgage market. And this situation cannot be called stable. Therefore, those who are interested in the acquisition of housing on credit should think well and weigh their capabilities.
A loan in the form of a mortgage for housing or accumulation?
- This question invariably arises for those who make good money and have the opportunity to collect the desired amount for the purchase of an apartment in a few years. But, unfortunately, this is a small share. If it is possible to collect for housing in 2-3 years, then certainly do not burden yourself with considerable overpayments of interest.
- Yes, this option has the right to exist, but it should be noted that due to instability of the market, reverse processes occur. For example, real estate prices may begin to grow, and inflation gradually “eat” your savings.
- And you both lived, and you will continue to live in a rented apartment, paying for its rental, which with an increase in real estate prices also tends to get price.
- By the way, about renting - there is the reverse side of the coin in this matter. To date, renting housing is not so cheap pleasure. And almost every tenant had a question, why pay almost the same money in someone else's pocket, if you can demolish it for the projection of their housing.
- But each item has its drawbacks. Therefore, choosing between the accumulation of the purchase of housing and a mortgage loan, you need to foresee all these negative points.
Important: if you do not have the expected inheritance or help from the outside, then a mortgage is much more profitable than the permanent rental of housing. If you are afraid of overpayment or are afraid of interest on the delay (by the way, when renting housing, no one will give you free to live for free), then learn to distribute the budget, as postponing to your goal! But there must be a clear plan.
And about "How to save money correctly" we offer to read in our material.
Start of a mortgage for housing: where to start?
Important: you must understand that when making a mortgage on housing, the probability of moving to another city or another country is excluded.
- First of all, you should honestly answer your question - are you sure in your future! That is, Do you have a stable source of income, not much dependent on any external circumstances.
- If you answered this question in the affirmative, then you should calculate the budget of your family And make sure that it allows you to painlessly pay a monthly credit rate.
- In this case, the most possible changes in personal life and related expenses should be taken into account as much as possible. That is, Change of place of work, a wife’s pregnancy and the birth of a child, admission to higher educational institutions of children who will have to help.
Ideally, you should have an inviolable stock, which will help to survive at least 2-3 months to survive, for example, for the period of unemployment!
And you must understand that the loan should not “eat” more than half of your budget. And yes, you also need to relax, and not after 10 years and it can be. Therefore, even plan such trifles. Or, if the goal has great power - look for additional sources of income!
- After that, it is preferably carefully and delve into the essence of the question deeply:to study the trends of the mortgage market, read the forecasts of experts, get acquainted with the terms of different creditors. And to make a final decision based on the comparison of all the positive and negative aspects of lending, with the specifically to your family.
- After all, it is known that the attitude of people to problems is also different: what may seem to be a serious obstacle to one, the other will regard - as a trifle, unworthy of attention. Again, the absence of the same vacation can be endured for 5 years. And your partner needs at least some entertainment on the weekend. We are not talking about children!
- And for this, just take a blank sheet of paper, draw it along the two halves. On the one hand, write all the advantages, advantages and positive aspects of the mortgage loan for your family, and on the other hand, all risks, disadvantages and negative moments. And based on this, make the final decision.
Mortgage for housing: Pros and cons of the program
We will analyze in the general aspect an approximate plan. But you can apply your own options to each specific family.
Important: always carefully study the contract!
Positive sides
- You can live in your apartment after registering a mortgage loan
- The registration of a mortgage loan is much safer than buying an apartment through a real estate agency
- Savings on payments to realtors and commission
- The ability to pay off a mortgage loan ahead of schedule
- The ability to receive a deduction from the interest paid on a mortgage and make it as an early payment. Thereby reducing the payment term
- The ability to refinance a mortgage loan. That is, take a mortgage in another bank that has more favorable credit conditions
- The ability to use a delay of three months in case of loss of work
- Advantages of credit loan in rubles in case of falling or default
- The advantage of obtaining a mortgage loan has special categories of bank borrowers: military, beneficiaries, young families, owners of maternal capital - if you belong to those, this is an unconditional plus.
Important: install it for yourself - it’s more convenient to take Differentiated or annuent payment. In the first case, you pay a large amount from the loan body and its interest, but after they decrease. And in the second case, you will stably pay the same amount, due to the growth of the body and reducing the interest of the loan.
Negative sides
- The need to have money for the initial contribution in the amount of 10 to 30%
- Big overpayment, if not extinguished the loan ahead of schedule
- The risk of losing the source of income, and as a result - the formation of debt to the bank
- The need for annual payment of health and property insurance at the bank
- For special categories of bank borrowers, you will have to collect a large package of documents, spending a lot of time in line.
- Long -term lending involves a certain dependence and the need to save on many things, which is quite difficult for a person with an average income, both physically and psychologically.
- If it is impossible to continue to repay the loan, your apartment will be put up by the bank for bidding, you will be left without housing and without a significant part of the invested money.
Important: if you still decide on a mortgage loan, make out only fixed credit rate and always have NZ. That is, the inviolable stock of a certain amount, based on the payment of a loan for at least a few months, in case of unforeseen and force majeure.
And how to make a mortgage for housing correctly: tips
- In this matter, even 0.5% percent play a role. Therefore, study offers from banks very carefully, choosing not only The lowest percentage, but also the best time for you.After all, the amount will be quite significant. This means that the difference is in percent, for example 0.5 %, in 20 years will be more than 200 thousand rubles. And if you decorate for a period of 30 years or more - over 450 thousand.
- Many have hopes for foreign currencies. Remember - The mortgage should be taken only in the currency in which you get a salary!The jumps of the dollar have already taken away many apartments from citizens, because they simply could not pull the difference in overpayment.
- We have already touched on the topic - It is worth taking a mortgage only in fixed interest. I would very much like the interest rates to decrease, but in reality they only increase every year. Or this decrease is short -term in nature before a large jump. Therefore, the floating bet is your extra spending!
- Look at things really! If you calculated in your head to pay a loan for 10 years, then the result may be deplorable. The fact is that any force majeure will knock you out of the rut. After all, the less term, the more pay.And if, due to illness this month, you cannot pay the desired amount, then there will be a spacer. Therefore, it is better to arrange for a longer period, and if possible, repay the loan ahead of schedule.
- If you need to buy furniture and make repairs, then it is better to immediately make less during the first fee or Take the maximum amount.That is, on one loan you will already arrange your housing.
Important: but do not forget that housing in the mortgage is not yours. It belongs to the bank, so think three times whether to make expensive and major repairs.
- Think a large -scale And in advance is good. But not on the issue with a mortgage. Better buy a smaller apartment, maybe not in the city center, but at an affordable price. Pay its loan - take yourself an extension of the area. We take into account:
- lower cost requires a lower monthly contribution
- can be taken or reduced after the mortgage period itself
- you have reduced overpayment dependent on the amount
Important: if you buy one -room apartment first, then when buying more housing, the missing amount will be much less.
- Calify the possible options as much as possible. Try with different interest and change the terms in the calculator. For example, at a rate of 12% of the amount of 30 and 25 years, it varies by only 1 thousand. And it will be morally easier for you to get rid of the loan 5 years earlier.
- Study the real estate market in advance! Follow the jumps in prices, you can even write yourself in a notebook.
- See wider! The bottom line is that you need to take into account the location of the necessary objects, the proximity of the kindergarten or school, even if you do not have children yet. Yes, it’s hard to scroll through my head when there are not even such thoughts yet. But these aspects will be “in hand” even with the long rental or sale of an apartment.
- Speaking of sale - Really take into account the profitability of the location of the apartment.The low price always has a catch and in very rare cases it is really a hurry of residents when moving to another country. We take into account:
- road denouement. When you start going to work, believe me, in a few years you will catch up with that overpayment in another more profitable place;
- moreover, close location of noisy places and centr trackit is also not approved by residents;
- "Cleanliness" of the region. You should not only follow the order of the wipers, but even in the evening from work you should not be scary, returning home;
- "Age" at home. After 20-30 years, the pre-war building house will almost depreciate. And you will sell it compared for a penny that will not cost half of your overpayments;
- all industrial facilities, What will be in the neighborhood with you will spoil not only air, but a calm life. As well as future sales;
- it is not recommended to take the first and last floors. They are significantly lower for the needs of customers.
Important: the very last advice - do not work with realtors! A large amount will pull and large interest.
By the way, how to look for the right homeowners, you can find out in our article "How to rent housing?" On such a simple example, you will study the main points and “pitfalls” when searching.
Video: Is it profitable to take a mortgage for housing?
