Post by account_disabled on Mar 10, 2024 0:26:36 GMT -10
Housing prices are getting higher and higher. And this is why there are fewer people who can buy a house if they do not reserve part of their money. We spoke to various experts to find out how much you have to save to buy an apartment and how it can be done. The most repeated formula is to have 30% of the price of the home saved , although everything will depend on the loan your bank gives you, your age and the bonuses you may have.
Pay the down payment for a flat home
First, we have to do the math and see if we can afford to pay the down payment for the apartment we have seen and want to buy.
Josep Vera, regional director of UCI , specifies that, although there is no established rule, normally in cash home purchases you have to add between 10% and 12% to the sale price Cambodia Telegram Number Data for additional expenses such as taxes, notary office or registry, "while in purchases with financing which, according to data from notaries, in the month of June accounted for close to 43% of sales operations in our country, it is recommended to additionally have own savings equivalent to 20 % of the purchase price. Normally entities grant financing for 80% of said value.”
The expert gives an example, therefore, if the home costs 200,000 euros, we should have saved about 40,000 euros plus expenses (which will range between 20,000 euros and 24,000 euros).
For this reason, it is recommended that home buyers have at least savings close to 30% of the price of the home. “Although, there are exceptions such as tax payment reductions for young people. In any case, it must be taken into account that, in all cases, the greater the initial contribution, the lower the loan amount to be requested, and consequently the lower the monthly payment to be paid."
However, the conditions may vary depending on the commercial policies of each entity and the risk and solvency analysis that financial entities carry out on the profile of their clients.
For her part , Ligia Luca, National Key Account Manager at Grocasa , comments that each entity offers a different product with different financing percentages, depending on the situation and needs of each client.
“The general rule of banking entities is to finance 80% of the value of the home, this means that the client must have 20% of the price of the home and an additional 10% to pay the expenses of the sale and formalization of the property. mortgage (ITP or IVA, notary, registry, agency, appraisal, insurance, etc.)”.
Thus, the percentage of financing from the bank can be increased based on the profile and economic solvency of the client: if there is a good length of work experience, if one is a civil servant or works for a stable sector, if one has a high income, etc.
Pay the down payment for a flat home
First, we have to do the math and see if we can afford to pay the down payment for the apartment we have seen and want to buy.
Josep Vera, regional director of UCI , specifies that, although there is no established rule, normally in cash home purchases you have to add between 10% and 12% to the sale price Cambodia Telegram Number Data for additional expenses such as taxes, notary office or registry, "while in purchases with financing which, according to data from notaries, in the month of June accounted for close to 43% of sales operations in our country, it is recommended to additionally have own savings equivalent to 20 % of the purchase price. Normally entities grant financing for 80% of said value.”
The expert gives an example, therefore, if the home costs 200,000 euros, we should have saved about 40,000 euros plus expenses (which will range between 20,000 euros and 24,000 euros).
For this reason, it is recommended that home buyers have at least savings close to 30% of the price of the home. “Although, there are exceptions such as tax payment reductions for young people. In any case, it must be taken into account that, in all cases, the greater the initial contribution, the lower the loan amount to be requested, and consequently the lower the monthly payment to be paid."
However, the conditions may vary depending on the commercial policies of each entity and the risk and solvency analysis that financial entities carry out on the profile of their clients.
For her part , Ligia Luca, National Key Account Manager at Grocasa , comments that each entity offers a different product with different financing percentages, depending on the situation and needs of each client.
“The general rule of banking entities is to finance 80% of the value of the home, this means that the client must have 20% of the price of the home and an additional 10% to pay the expenses of the sale and formalization of the property. mortgage (ITP or IVA, notary, registry, agency, appraisal, insurance, etc.)”.
Thus, the percentage of financing from the bank can be increased based on the profile and economic solvency of the client: if there is a good length of work experience, if one is a civil servant or works for a stable sector, if one has a high income, etc.