What do not take into account citizens who decided to take an apartment in a mortgage

Even a child needs their own space. And if we are talking about a young family, then having a separate housing becomes a real necessity. And in the absence of significant funds, young people think, Should I take a mortgage?.

Today's edition. "Site" It will tell you what citizens forget when they decide to get into big debts, just to get their own living space. After all, there are many things that borrowers learn only after many years, when nothing can be returned.



Should I take a mortgage?

1. Who owns the mortgage apartment
   The bank that provided the money for the purchase of housing is partly the owner of the apartment. When will the borrowers become full owners? As soon as the debt is fully paid off. That means it won’t happen for many years. And here it is appropriate to compare a mortgage apartment with a rented one. After all, in the first and second case, the owner will not be the tenants, but someone else. Therefore, the statement “apartment in a mortgage, but your own” is not very true.
   
   
   
   
   
   
2. Early repayment
   When people take out a mortgage, they usually hope to close it faster than the specified period. The reality is that only units manage to deal with mortgages faster. It’s also important to remember that no matter how carefully young people plan their financial future, something can always go wrong. And it's naive to hope that in the next 10, 15 or 20 years there won't be any other important spending.
   
   
   
   
   
   
3. The feeling of eternal debtor
   The joy of owning a home will fade over the years, while the need to pay the bills will remain the same. All you have to do is give away a good part of your income for walls that are not as sweet to your heart as they were 5 or 10 years ago.
   
   
   
   
4. Big overpayment
   The fact that the mortgage will have to overpay, everyone knows. However, the real amount of overpayment often drives into a stupor. After all, if you count everything well, you will find that the bank was paid enough to buy another apartment.
   
   
   
   

Of course, no one denies that mortgages are an interesting tool. But, using it, we should not forget about the pitfalls. After all, overestimating your strength, you can really get into real bondage.

On the other hand, mortgage It has pros. Contrary to popular belief, it can be sold. Yes, it can be a little more problematic than if the apartment was 100% yours, but still this option is possible. And if the house is bought in a promising area, then there will always be a demand for it. And prices may rise over time.



And if it is not a problem for single young people to move often, changing one rented apartment for another, then in adulthood this will have to be forgotten. After all, a family with children who need to attend kindergarten or school will not be easy to take and move to another area. So the mortgage, where monthly Not much more rent, it seems an acceptable option.

In any case, you need to carefully study these and other disadvantages and pros, as well as carefully compare the available offers in the market to make the right decision. The future of the whole family depends on it.