For middle-income people – low, owning a high-end apartment is very difficult.
Therefore, the most feasible option they should consider is the cheap apartments, ranging from 800 to 1 billion. However, before planning a purchase, buyers should note the six steps realestatevietnam will address in the article below.
According to realestatevietnam survey, there are many low-cost apartment projects ranging from VND700 million to VND1 billion, scattered across many areas in HCMC, most of which are in District 9. , Thu Duc District, District 8 …
Some good projects at attractive price are Vincity project in District 9 (open for sale) with an average price of VND 700 million / unit, Saigon Metro Park project in Thu Duc district has average price from 709 million / unit); The Citisoft project in District 2 is priced at $ 852 million per unit, Prosper Plaza project in District 12 with an average cost of $ 868 million per unit, Auris City project in District 8 for an average of $ 990 million per unit.
However, it is not that cheap projects are planning to borrow money right away. You need to elaborate on the steps below:
Step 1 to do before buying a cheap apartment
Prepare well on basic finance. Accordingly, the prerequisite before you want to buy a cheap apartment is that it must have a hoard of funds ranging from 30 to 50% of the value of the apartment you need to buy, preferably a deposit of 50% of apartment value.
If you do not accumulate 50% of the value, you should borrow from friends and relatives (or friends who are friendly and good friends) to 50%, in this case you can borrow a lot. people, each one a little. Remember to only get a 50% loan from the bank, do not borrow too much because this will increase your repayment pressure.
For example, if you plan to buy a cheap VND800 million (including tax and 2% maintenance fee), you have accumulated VND250 million, you need to borrow more from a family source. and friends about VND150 million more to make enough 50% of the apartment value (400 million). The remaining VND400 million you will continue to borrow from the bank, and the loan payment will depend on the level of income you have. If your income level is high, you can choose a shorter loan period of 5 – 10 years, if your income is modest, you should choose a loan period of 15 – 30 years.
Step 2 to do before buying a cheap apartment
Once you have determined the price of the apartment you want to buy as well as the amount of money you accumulate and the amount of money you borrow from relatives, what you need to do next is to make sure your work will bring you income. Stable to pay interest and monthly principal. For example, if you buy an apartment with a sale price of VND816 million, a 50% loan in 10 years, the first month of principal plus interest (12% per annum) of about VND7.48 million a month, about VND 11 million per month for single people, VND 14-15 million or more for family income.
Step 3 to do before buying a cheap apartment
Choose the right apartment for your current needs so that the price is right with your financial ability. If you are single, choose a one bedroom apartment. Even young unmarried couples can choose the same because maybe 4-5 years later needs to arise two bedrooms.
In addition to the cost of purchasing an apartment, do not ignore the range of other costs incurred during the purchase, such as the cost of taxes, service charges, utilities, apartment renovation costs. Please pay attention to the condition of the apartment is about to buy, furniture is handed over or complete? From there, additional budgeting needs to be made. If you are careful, think about additional bad situations that may occur during the purchase process such as loan defaults, and then take some corrective measures.
Step 4 to do before buying a cheap apartment
Real estate location should be selected at reasonable distance, optimal is 10km-12km from accommodation to work. If you have small children, priority should be given to choosing apartments near schools and hospitals.
According to realestatevietnam analysis, the segment of apartments under VND1 billion is usually located far away from the city center. However, looking to buy apartments in relative position with the price “soft” is not too difficult. Buyers need to reconcile the three factors of location, needs and budget to choose the right apartment. At the same time, look good enough to not miss the right project.
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Besides, be aware of the traffic around the apartment you are considering. Get to the roads you will move a lot and observe during peak hours whether traffic conditions here are too bad, there are many trucks, containers moving or not. Do not forget to question your owner or broker about upcoming transportation infrastructure projects that address mobility issues.
In case the buyer does not have much time and experience, realestatevietnam Consultant will offer the best solution for you at Hotline 0901 777 667.
Step 5 to do before buying a cheap apartment
Buy a complete apartment to avoid the cost to spend more to complete the house. Although not fully furnished but with complete apartment, you can also move in immediately and equipped gradually, no time to wait for construction.
realestatevietnam’s advice: Normally, when you ask for a complete apartment purchase, you will receive detailed handover items. Do not forget to check the manufacturer for details, the warranty for these items and list them specifically in the appendix of the sale contract. The quality standards of the wall, ceiling and electrical construction should also be carefully checked and reflected in the contract to avoid risks or disputes with investors later.
Step 6 to do before buying a cheap apartment
When you have unusual income, you should quickly accrue principal repayment to reduce the pressure on interest payments. Almost every employee has monthly bonuses, holiday bonuses, bonuses, etc. For this bonus, you should only spend 50% of that money as a reward for your efforts. The remaining 50% you put into the savings account and use them for loan repayment.
You are reading the article 6 important steps to prepare before buying a cheap apartment in the Real Estate category at https://realestatevietnam.com.vn/.
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