In spite of all the obstacles, the need for our own home is still more important, so we try to save, earn, put aside money or get a loan in any way we can. If you have managed to collect at least a small amount of cash for an apartment, it will be much easier and cheaper to get a loan and repay it in the future.
If you are determined to find money for an apartment and buy your own home, remember that you must be careful and cautious in the first place. Do not make hasty decisions, study with the utmost responsibility the contract you will be offered to sign and do not ignore the notes. But most importantly, don’t take money for an apartment on a loan you can’t pay off. If you think your financial situation is volatile enough and your monthly payment is currently out of pocket, it is better to postpone your purchase for a while.
If you are thinking about where to look for money for an apartment, but you do not have it yet – it does not make sense to stop at a particular object: you will spend the time of another person, the seller, and as a result you will feel awkward. However, you can do real estate market analysis on a regular basis. Prices for flats can change 3-4 times within 365 days. By controlling for such fluctuations, you will be able to understand in which year housing becomes cheaper and what events in the country and economy may cause real estate prices to rise or fall.
Without looking at specific options, you have to decide how much money you will have for the apartment, even if you go to the bank for a loan. Based on this number, you can view offers at a reasonable price, in an appropriate area of the city, and decide which type of real estate market you are interested in: secondary or new construction.
In order to realistically assess all the “pros” and “cons” of both markets, both types of apartments should be grouped according to their main characteristics.
What if the apartment has no money, the salary remains at the previous level, but housing prices “do not give up”? In this case, analyze the circumstances in which you are living, as you may be living with your parents in a three- or four-room apartment and, once you leave, such a large square meter will only become a burden for the parents.
Try to find a change: many families want to move from small apartments to larger ones, so be prepared to give up your small living space for a premium. There are also wanters who can offer you two small ones instead of one large apartment, so you can go for one and the older ones for the other. This changeover is very convenient, you can find offers even if you move to another city.
Unfortunately, not everyone can boast of a spacious older apartment that can be exchanged or a high salary that allows them to quickly save money for their home. Then all you have to do is hope for money for an apartment in a bank, in other words, a mortgage. For many, it is the only option to get their square meters, albeit slightly.
If you decide to take money for an apartment in a bank, you are ready to overpay the annual rates. As a result, you will have to pay almost twice the average cost of your apartment for the duration of your loan repayment, but if there are no other options, do not think long. Start by searching for a suitable bank offer, and at the same time start to find an apartment. It’s great if the apartment you choose meets all the bank’s requirements: you can save a lot of time, power and move into your living space very soon.