Is it worth taking a mortgage to an apartment for a young family?
Mar 23, 2018
Mortgage, if you say the simplest language, it's a loan for buying an apartment or a house. The pledge in this case is the real estate that is being purchased, which the creditor has the right to take away in case of non-compliance with the terms of the contract. Mortgage conditions are different, often the payment period can reach 20 and even 30 years. However, you need a down payment, which can also reach 50%.
Today, in the article, we'll talk about whether a mortgage is really as beneficial as it has merits and demerits. The post will be interesting for those who are striving to acquire housing with minimum costs and maximum comfort.
Should I take a mortgage to a young family?
More often than not, a young family is thinking about mortgages: a couple who just got married, and maybe even had a baby. To put it briefly, then yes,
In addition to saving the family, the mortgage can significantly save the family budget, saving you from monthly rent of another's apartment. Yes, on the one hand, paying a small amount each month is not so difficult as for the first time to collect the first installment. However, this is just a deception of consciousness. It is better to pay monthly for your own apartment, which will later become yours, than for the one that will remain a stranger.
Taking a mortgage at a young age is good because you have the time to pay it to old age if you plan to pay 10-20 years. And to earn in youth large sums much easier. In adulthood, working on 2 or 3 works can even seem impossible. And it is better to secure a normal life in advance.
Buying an apartment in a mortgage, you can easily repair it, as it will definitely be yours. Buy furniture that is suitable for this apartment, and not one that will be convenient to transport to any other home. A young family is often available all sorts of discounts and more successful deals with the bank, which also tempts to take a mortgage now, and not after a while.
However, there are times when taking an apartment in a mortgage is not the best option - when the family's budget barely reaches a minimum. It is better to eat well and pay bills during the time than to transfer the bulk of wages to the bank. Therefore, a large demand for mortgages occurs in large cities, where salaries are higher, thus there is the opportunity to buy housing( albeit not that elite), however, that will be affordable.
With an unstable salary, without official employment, also a mortgage may not be the most ideal solution, otherwise you can lose a lot of money when you are unable to pay a loan in an emergency.
In general, cases are different, sometimes it is worth taking a mortgage, sometimes not. You need to weigh the weight "For" and "Against yourself", so the decision will be correct.
Should I take a mortgage in dollars, if not, then in what currency?
To foresee in which currency it is better to take a loan is very difficult, we would even say that this is not possible. The situation can change very quickly, both in the negative and in the positive for you. In addition, consider the banking conditions, because there too, not just so different interest rates are set, they will not work for themselves at a loss. To do this, special audits are conducted, make forecasts, thereby calculating the most profitable transaction for themselves.
If you consider that this article will be read more than one year, the information may become outdated. Therefore, we can not advise anything concrete. In our opinion, there is no need to bother with the currency, the ideal option is not found.
The state currency is a more convenient option in that over time, inflation will occur, thereby making money cheaper. However, the interest rate will be greater. You can certainly take in dollars, but as the practice of 2009 showed, it can jump twice, which will be a big blow to the budget.
You should not just think over the currency, but rather at interest rates, look for the most profitable ones. But do not forget about the quality of the bank itself, whether it has bad reviews and additional conditions that will emerge after taking a mortgage.
Should I take a mortgage right now?
If you decided to take a mortgage now, then we certainly can not leave you. If you ask a question - "Is it worth it? !".We can not answer for you, try to take into account all advantages and disadvantages on your own. Different cities - different interest rates, different salaries - different opportunities, different first installments - different monthly fees and different term of the mortgage. All at all different. There is no perfect formula and solution. Act according to the situation.
Speaking in general, today, of course, it is beneficial to buy apartments and houses, as the cost per square meter will in any case increase, which means that if you do not take a mortgage now, in a few years it will be much more expensive.
Think about whether you can collect a down payment right now! Take into account the bank's commissions, insurances, etc. Also, beware of the fact that you will not be able to move quickly because of lengthy clearance processes, as well as repairs that you are likely to have to do( especially if you are going to take a mortgage for a new building).
Analyze your earnings, whether they are as high as now. What will happen if you lose your post, how then will you solve the problem? How quickly can you find a new job with a similar salary? Will someone help you pay your mortgage? If you answered all these and similar questions positively, having calculated all the possible nuances and sudden problems, then of course you should take an apartment in a mortgage right now!
Internet magazine Vse-Sekrety.ru assumes that you can have a non-standard situation in which the issue of a mortgage can have a much more complex outcome. In these cases, we ask you to ask your questions in the comments to this article, we will try to understand it and answer the question as fully as possible!
In addition, we welcome your feedback on the mortgage, everyone will be interested in knowing the personal experience of taking mortgages.