What you need to know when buying an apartment in your youth, so as not to burn yourself

A lot of young people are wondering, How to save for an apartment. After all, not everyone has rich relatives who just take and give separate housing. It’s so much better to live in a house you built with your own hands. Or at least live in an apartment that you made your own money to buy.

Today's edition. "Site" It offers to get acquainted with the opinion of our reader, who eventually managed to get her own housing. However, the girl is sure that if she had had the current knowledge a couple of years ago, she could have bought an apartment earlier. She decided to share her small discoveries with others.



How to save up for an apartment Yes, my advice may seem obvious. That's what I think of them now. But a couple of years ago, I really lacked that knowledge. Therefore, I will not be surprised if there are those to whom this information will be useful today, Kristina writes.

“For as long as I can remember, the currency has only grown. Buying dollars, euros or francs makes sense. Especially if you plan on saving for a long time. It is better to buy currency at least a little, but regularly. Similarly, the desired property will gradually approach, and savings will not melt much due to inflation.”



“When buying, it is worth looking at housing either in the center or in popular areas, where it will definitely remain liquid, and even add to the value. Here it is better to take a dozen criteria (location, infrastructure, reputation, demand) and when choosing to check with each item. This is especially true if there is a probability that in 5-7 years you will decide to sell your apartment.

I learned that selling a good home is easier than buying one. Therefore, the choice of housing is a real art. And it is stupid when choosing an apartment to refuse the help of knowledgeable realtors. Buying through an agent is not necessary. But to choose the ideal option, such a specialist will definitely help.”



“It is still profitable to buy when the apartment is being built, in the early stages. After receiving the coveted keys, the property in any case will increase in price. Even if there's a crisis. Simply because it is more desirable for anyone to live in an apartment that no one has ever used before.

You need to count and check everything yourself. The developer manager knows how to speak beautifully, but you can not trust his words 100%. We recalculate profitability, payback, mortgage payments and so on only on our own.”



“If you decide on a mortgage, you simply have to take care of the airbag first. And only when the average amount of spending for the next six months has accumulated, you can take a loan for housing. It's more important than it sounds.

By the way, it is important to take a mortgage on the right terms, then the benefits from it will be more than problems. If you do not know much about contracts, it is better to pay a real estate lawyer who will analyze the points of contention and explain what pitfalls can await.



Many people are afraid of long term mortgages. It's not that scary, though. Money is getting cheaper almost every day. Yes, and only units pay a mortgage for the entire term: mortgage housing or sell with all the accompanying obligations, or close early.

Do not be afraid that in 20 years this loan will continue to drain the family budget. Just try to get a mortgage on the most favorable terms. But at the same time, soberly assess your financial capabilities today and in 5-10 years, the girl advised.



Of course, in our difficult time, not every young family can afford even a mortgage. After all, you need to quickly deal with current costs, pay for rental housing now, simultaneously saving money for a down payment and a safety cushion.

And for the repair of the purchased apartment, money will also be needed. Therefore, you have to save on everything and try to earn as much as possible in order to eventually acquire the cherished square meters of personal space. But is it worth it?