The Questions For  The First Time Homebuyers

During the real estate consultancy, Vietnam Real Estate found that buyers of first-time apartment buildings often had similar concerns and concerns. Here are some common questions buyers of first-time apartment buyers come up with as an answer.

You can read more information at Vietnam Real Estate News

Question 1: Should I buy a condo or buy a home?

Previously, many people always said that the apartment will bring life cramped, secret, depreciated using the range over 15 years has gone old, degraded. Buy land and house will forever be their wish to arbitrary repair as well. However, with many families at present, especially young families, the idea of buying land to keep is not so important, the need to enjoy, relax after a hard working day.

Apartments are the trend of buying a home that many people choose

When you live in an apartment from medium to the high level with relatively synchronous infrastructure, you will enjoy the benefits and services provided. There are supermarkets, cafés, cafes, children’s play areas, green parks, banks, schools, pharmacies, swimming pools, gymnasiums, tennis courts, football, lakes. In addition, not to mention life will be completely safe thanks to the modern security system, 24/24 security, this will not be available when customers buy the residential real estate, especially the area. The area is home to many old villages, unstable areas or many thefts, complicated components.

With residential land, VND1 billion you will only buy a piece of land or a small house about 30sqm in the alley, no space for cars, even just a motorbike entrance. It will be completely different from a small apartment with 2 bedrooms, full facilities, secure parking, you do not have to take care of the house to prevent theft, do not mind when cleaning the house run running back stairs, do not have to see the teacher or worry about terrestrial terrain, this biography is not good or what grave?

The convenience, security, modern is what apartment can bring to the customer.

Question 2: How do I choose the best project in the area when there are too many projects on par with each other?

Choosing a good project does not seem easy to many people. Sometimes, you do not have to look at the model home that you decide to buy or not buy right. Sample models of projects are often the most glittering of the owner to communicate, advertise and introduce to customers. In fact, when customers get home, investors only hand over & complete the wall, ceiling, sanitation, and electricity.

Buyers can self-assess the project is good and suitable for themselves

To identify the best and most relevant project, customers should divide the elements to evaluate and grade those projects, then mark them and add them to the average. The prerequisites for marking a project are selling price, area, design, internal utility, outside utility, project location, sales program, delivery time, a density of population, the density of construction, construction quality, the prestige of investors, a density of elevator.

When analyzing the project, customers should pay attention to the factors related directly to their lives such as: Is it convenient to travel? What advantages do you prefer? Then, based on the analysis of the average score to be sure to choose the most comfortable apartment, namely: Location: convenient for travel; Price: in accordance with family finances, not exceed 50% of the current amount; Habitat: Affecting our children’s habits, personalities, and preferences, should be carefully selected; View: wind direction and avoid direct sunlight (southeast and northeast); Investors: have prestige, the project they are doing have banks guarantee construction progress or not? Otherwise, you should not invest in this project to avoid money loss, disability; Bank: Does the bank support me to buy this project?

Question 3: I like this project but it’s too far away from my workplace, what should I do?

According to statistics of Ho Chi Minh City, there are tens and hundreds of thousands of immigrants every year. VND 1.5 billion is the least amount that you need to prepare before planning to buy an apartment in the city center. The less land that crowds, the higher the price of downtown projects, is more expensive and spreads to the fringes of the city center. Although expensive in pieces, most of the projects in the center focus on the type of building blocks alone, not accompanied by green utilities. To compensate for this disadvantage, such apartments are very high level, from furniture to design.

On the other hand, if you take VND1.5 billion move to the new urban area, you will both be able to own a beautiful design apartment, spacious living environment plus good local amenities. Referring to the most potent new urban area, Thu Duc, District 2 or District 9 are quite reasonable choices – the city government is now pushing for the development of the eastern districts of Ho Chi Minh City, In the future, these areas will become a new urban area as the satellite city. So, when buying a condo, first think about the potential of the central fringe.

However, the experience of choosing to buy a real estate apartment shows that real estate professionals advise that you do not live in a “box” but rather choose to live in a spacious apartment. spacious and comfortable. The money you save to buy a home is very difficult to choose a place with green parks inside, enough from the pool to the shopping area, to your family (special Have fun with each other after a week of hard work and study.

Question 4: I really like the project, but it’s out of the question, what should I do?

When buying a condo, choose the right project for your pocketbook

In fact, once the project has started offering, the investor will often survey the price and analyze the customer segment to make the price suitable for the general market. The price may also be due to sales programs or plans of the investor in each period. Vietnamese people have always had a common desire to “try” a little to get the best, with the choice of the apartment too, why not try a little to own an apartment like? In fact, if the project is more than 20% more expensive than your financial ability as customers can balance the purchase. For example, buy an apartment at the price of VND2 billion that the apartment up to VND2.4 billion. Customers should think VND400 million in the next 10 years, that is 120 months, each month customers should save VND3.3 million, so everyday customers save an additional VND100,000 is able to try to buy a good house for yourself. Subdivision of the target to try to reach it also makes the number easier to breathe.

Question 5: Should I borrow a bank to buy a project?

Most of the projects now offer customers a lot of support, great incentives from banks, so if you need more loans, customers should borrow. However, customers should borrow within their ability to pay for safety. It is a good idea to ask your bank carefully the financial options and terms to make sure you understand all the issues before signing. The risk of buying a home in a volatile economic climate is inevitable. Buyers should note that in addition to interest rate fluctuations, it is necessary to calculate their financial structure before deciding on a home loan. First, the income must correspond to the product, answer the question with this level of income should buy products. And with the amount of money accumulated, if the current loan, what is the principal and interest payments?

The risk is always hidden, but when we have good financial structure, this risk will be limited. For example, when buying a house for VND1 billion, we borrow VND400-500 million and pay VND6 million a month. In order to repay this debt, it is necessary to carefully calculate the income after deducting the monthly expenses to VND 7-10 million. Remember, the risk is not lost, but how important is risk management.

Be very careful when borrowing money to buy a home

In the past, access to home loans was difficult, but now it is easier for credit institutions to compete for borrowers, even in combination with investors, to get their money back. most of the customers. This competition will offer better products to borrowers. A family with a husband and wife and a child often target the apartment about VND1 billion, most of them have about VND 500 million. If they borrow about VND 500 million at the current interest rate, they have to pay VND 6 – 7 million / month and if the debt is reduced gradually, this amount will be reduced monthly. The husband and wife make a total income of about VND 20 to 25 million, except for the remaining monthly cost of VND 7-10 million, this level is still guaranteed to repay.

Question 6: Buying a project near the house and cheap but not good utility, and the project has good utility is too expensive, I should choose which project?

Then do not forget to study the criteria, give yourself a score and add all the points and then choose the best project for yourself. However, because “home” will be a place where you stick a lifetime with your loved ones – where to rest, relax and keep the sweetest memories, we recommend that customers bring the first quality products.

Using a good product, you will be happy in the long run. Do not choose a product in a clear way and then when you come to you all day complaining and annoyed with it. Good products will include:

external utility areas, residential density, traffic density, construction density, elevator density, quality of works, quality of delivery, the progress of construction, prestige Owner, manager after the handover. These are the most important points.

Question  7: Should I buy the raw package or complete package of the investor?

Currently, there are many real estate projects being handed over to customers at cheaper prices than the completed houses. However, for customers with limited financial resources and want to buy apartments on the under  VND2 billion, economists said that buying apartments to hand over the rough is not cheaper than the apartment was completed

The advantage of buying a rough handover apartment is: Due to being rented out of apartment value, the sale price will be lower, buyers can access some preferential credit packages. The initial payment to the owner will also be more financially feasible. But the disadvantage of this type of apartment is the cost of finishing the interior will be higher than the owner handed over the package finished by the standard; The related procedures will be complicated when completed due to being dependent on the project management board, the investor …

From the perspective of home buyers, you should only choose to buy a rough handover in case there is no other way. It is best to choose a project for a design apartment that suits your needs and financial capabilities.

Choose the perfect apartment instead of the raw apartment

An architect in Ho Chi Minh City said that if you are knowledgeable and experienced in repairing houses, or have acquaintances who are designers, builders, raw apartments will be a suitable choice. Because there, you can arrange the desired area. If you have no experience, but you still want to buy a flat, first you need to list the main needs to be able to choose the right apartment but only have to fix the minimum. Remember, two parts affect the overall structure of the apartment that you hardly interfere with is the kitchen and toilet area because these parts are usually fixed, aligned to facilitate the technical system. You can not move the kitchen or add a bathroom, but you can easily divide the bedroom or decorate the living room easily. Before deciding to buy, you need to contact the owner to inquire about: the regulations for the completion of the apartment; drawings of the electricity system of the apartment; the level is built.

Question 8: How is the apartment treated?

This issue is dealt with in accordance with Article 87 and Clause 3 of Article 89 of the 2005 Housing Law as follows:

Accommodation of households and individuals when houses are demolished:

1. The house owner must take care of his / her own accommodation when the house is demolished.
2. Demolition of houses subject to site clearance shall be settled according to the policies on compensation, support, and resettlement when the State recovers land but must ensure the principle of New housing should be equal to or better than the old one.

Article 89.- Demolition of houses according to the needs of house owners:

3. In case of dismantlement of a condominium for rebuilding, there must be a project approved by a competent state agency, ensuring the right to resettlement and legitimate interests of condominium owners according to provisions of law.

Thus, the rights of the owner of the apartment are settled under the policy of compensation, support, and resettlement when the State recovers land.

Ask an experienced broker if you are not experienced in buying a home. In fact, many people say that they only buy houses from their owners to avoid losing brokerage fees. This is good for experienced people, however, for first-time homebuyers, you may have some trouble.

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