To buy an apartment, it is not at all necessary to part with your life savings in one moment. In order not to tear the entire amount from your heart at once and not to feel this incredible stress, you can use several options that allow you to stretch the goodbye to money for a longer period:
- a bank loan for the purchase of a mortgage is not always issued. For the success of the whole operation, you need to have official employment confirming the source and amount of monthly income. Your credit history should also speak of a clean reputation and ability to pay. In addition, there are additional requirements regarding the building itself and other things
- leasing allows you to turn from a lessee into a full owner of real estate only after full payment of its value to the lessor
- rent an apartment with the possibility of redemption will allow you to continue to live in your favorite square meters, but only for this you will have to properly pay both for the purchase of the apartment and for its temporary lease.
- buying real estate on installments is an option that we will dwell on in detail to learn about its advantages.
Don't forget that you can always get more complete and specific advice on a specific object from the experts of a real estate agency T.H.E. Capital. Our experienced professionals will help you and accompany you throughout the entire process – from choosing an option to purchasing it.
What is an installment plan and what can it be?
In the life of a modern person, installment payments have become a common word. Such a convenient method of payment has long gone beyond the scope of buying a phone or a refrigerator to more "large" objects, such as an apartment. There are several types of installments in the real estate market:
- under construction
- short term
- long-term
The first option is already known to many investors. Its essence is that at the initial stage of construction you contribute a percentage of the entire cost (as a rule, it is from 10% to 75%), and the rest of the amount is divided into equal parts and paid gradually as the construction of your new home progresses. home. Payments are made either monthly or quarterly.
A short-term installment plan ties you to the developer for 3 years. The principle of operation is similar to the previous option - you repay a certain amount with your first payment. The difference is that the remaining amount can be charged interest, which ranges from 0% to 15% per annum.
A little less often in the real estate market of Ukraine, you can find installments for a long period of up to 10 years. Here you are guaranteed a percentage that will compensate the developer for his patience and willingness to receive small amounts from you.
Why modern investors have fallen in love with the installment plan with all their hearts
If at least once in your life you have bought products that you liked in installments, no further explanation is needed, but we can still provide them to appease your inner entrepreneur:
- time - you get this valuable resource, which allows you to buy an apartment, even if you did not have the entire amount to begin with
- you will be able to move into the apartment immediately after its construction, even if you still continue to pay money for its purchase
- buying an apartment during the construction stage allows you to save a lot. Quite often, the price for such objects is 20% lower than the average market price
- you will need much less time and related documents for the actual registration
- you will not have to confirm the source of your own funds
- a certificate of official employment will not be needed either
- your credit history is your personal business
- you will not have to look for guarantors as an additional guarantee of your solvency
- there is no need to take out annual insurance
Favorable conditions apply to absolutely all areas - you get time, security, the opportunity to realize your dreams and maintain privacy. It is also worth noting that some developers offer their customers discounts if the down payment was about 70% of the total amount.
From words to deeds - we issue your first installment
To arrange an installment plan, you need to go through several important stages, so that during the entire period of its validity, you feel at ease, and each new payment is not a punishment, but another step to the door of your native apartment:
- select the appropriate object in the market
- get to know the company - study the reputation of the developer, the number of implemented projects, the absence of lawsuits, etc.
- verify the legality of the construction using official sources - cadastral cards and real estate registers will help
- discuss the possibility of installments and its terms
Speaking about the contract, it is worth paying special attention to the clauses regarding its validity period, the size of the first payment and all subsequent payments, the frequency of payments and the possibility of increasing the interest rate, if any. Cooperation with the real estate agency THE Capital will relieve you of the need to independently check all the nuances. Our experts will make sure of the builder's honesty and the correctness of the documents.
