Today inhabitants of some countries perceive rent habitation as temporary, unlike the Western world where on its share (Great Britain, for example) all real estate market gets from 25 % (USA) to 60 %. As the manager of agency of real estate Max Fedd speaks, there, having money for purchasing people prefer to live in their own apartments that rent an apartment or move constantly from one place to another.
Therefore we will consider an example showing what it is more favorable a mortgage or rent. Average cost of one-room apartment is $100 thousand at mortgage registration, in a month it is necessary to give one thousand under a condition if the initial contribution that constitutes not less than 20 %. Plus let us count the expenditure for annual registration of the insurance of habitation and life of the buyer.
An overpayment in a month is $400, and for rent in a month it is necessary to give $600. But it is necessary to remember that in the first case your apartment, and in the second isn’t present, and money is spent for nothing. Under condition of considerable earnings of a family, it is possible to consider an alternative variant to rent as a mortgage. The family takes apartment in credit, leases it and pays to bank in money of tenants, the expert speaks.
This variant approaches to those who already has any real estate and that the acquired real estate is the only. The difference in that in the first case lease revenues will be considered by bank at mortgage loan issue, in the second it isn’t present. So, by means of a mortgage the apartment is bought, the buyer moves in it and lives there. In turn, money from rent goes on loan repayment. It turns out that the person acquires the second apartment at the expense of the tenant. If bought real estate unique at the borrower he should inform bank on the intention to lease this apartment. Otherwise, the bank can prohibit doing it. And so – the bank won’t include money from rent in your income, and you can pay in them for habitation.
And let the lease payment less than that sum which it is necessary to pay to bank every month, but at you appears one more apartment, basically at the expense of rent. And if to consider that in due course cost of apartments grows, and your price is fixed in the mortgage agreement it is possible to raise safely the price for rent. According to experts, in 2-3 years you can already repay the credit completely at the expense of the tenant and remain in plus. So you see this variant is pretty good and you can use it for your own advantage.
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