Many believe that their income is not enough to get to have their own home, that is why they look for rental apartments as a housing solution, although this is a comfortable option that exempts you from responsibilities, including paying taxes, not it is a transaction that you are getting 100% profit from. If you live for rent, this new entry is for you, in it we will talk about how to capitalize on it and have your own home.
The big difference between rental apartments and your own is that the former are classified as an expense and the latter as an investment. What do you want to do with your money, spend it or invest it?
The payment of your rent could become the installment of a mortgage loan, you just have to draw up accounts and choose a financial product that suits your needs. The first thing you should do is know how much money you have; To find out, we will tell you one of the most important financial tips that exist: 30% of your income must be allocated to your home.
How much are you spending right now? Can you afford to spend more? Or else, are you overspending?
If that 30% is not enough for you to finance the house of your dreams, do not despair, there are a lot of options that you surely did not know, for example, you can add the income of several people in your family group to be approved for a loan. There are many financing methods such as housing leasing, which is basically a long-term lease with an option to purchase.
When you decide to stop paying rent and buy one of our apartments, we advise you financially, we do accounts with you, we help you create a plan to maintain control of your finances and we even advise you to choose the bank that offers you the best conditions, we have alliances with 7 financial entities that offer benefits to our clients.
You may also be interested in: Concepts you should know about buying and selling real estate
5 reasons to stop leasing and start buying.
1. The rental apartments are owned by someone else. That is why to make adjustments to your liking such as painting, installing furniture or remodeling, you should consult with the owner; On the other hand, if the house is yours, you can do whatever you want without waiting for authorization.
2. With a home of your own you increase your equity, this gives you the possibility of having financial support for future investments, in addition to obtaining profits from the valuation of the home over time.
3. The rental apartments almost always come with a contract from a real estate agent or the landlord, this is for many a headache since breaching them would generate fines that translate into loss of money.
4. Having a home of your own provides well-being to the family and unique joys.
5. A home of your own is synonymous with security over time for you and your family.
Used or new home?
If you decided to stop spending money on rental apartments and start capitalizing your rent, you should bear in mind that to make this possible you have to opt for a used home, since you can start living in it immediately, and thus replace the expense of the lease for the credit.
The wait in new real estate projects is very long and it will generate double expenses, the credit and the rental fee. Buying a used home has many advantages, for example, the square meter is cheaper, they generally have more central locations and are more spacious.
At Habi we have newly remodeled used apartments, they are like new and you can start living in them whenever you want. Start living in one of them and stop paying rent now, get to know them here!