What questions to ask at the economic level before buying a home

Do we have enough savings to order a bank mortgage?

To get a mortgage you need to have saved 35% of the valuation value of the floor: about 35,000 euros in every 100,000 euros.

• 20% will be to pay, the part that the bank does not finance. The vast majority of entities grant 80% of the value of the house.
• And 15% to meet management costs to open a mortgage and pay taxes.

Does your family have a minimum income of 2,000 euros per month?

A few years ago it was much easier than now to get a mortgage. At present, they only provide loans to customers, with high income of more than €2,000 per month all the headlines. They don't want to repeat the mistakes made before the real estate bubble burst.

Have you found banks willing to finance you?

The last step is to find a bank that is willing to lend the money. Only the most solvent profiles are more likely to sign a mortgage. This requires:

• Have work stability.
• No defaultof other loans, not included in any record of unpaid.
• Not being very indebtedbecause the bank might think it wouldn't be able to face a mortgage payments.

Would you pay a lower mortgage fee than the rent?

To make the decision to buy or rent aa housing, a monthly economy analysis must be done and a calculation of how much would be paid for rent and how much of the mortgage share. To know how much the quota will rise, it is determined:

• How much the house costs.
• The interest rate.
• The amortization period.

For both rent and purchase analysis, the general housing costs (community, pool maintenance, elevators) will have to be taken into account. You have to ask how much they go up. And, in the case of rent, if they are to be paid by the new tenants or the owner of the apartment.

Do you plan on living in that house long?

Another determining factor for making the best decision is know how long you plan to stay in a place. If you do not intend to live for many years in the same house, when you leave home, you will not have finished paying the debt. In addition, stopping paying a rent is much easier than selling a property.