The dream of owning a home is generally common, especially among young people. There is a time in everyone’s life when being under one roof with parents, even if they are the best parents under the sun, is beginning to bother us.
The young person wants independence and setting their own rules, and these plans are best implemented on their own. However, Polish economic realities allow the purchase of own flat only to a few. For the rest of those interested in owning their own home, there is a mortgage.
However, should everyone decide on it?
If we are not an investor and we buy our own hopes when buying an apartment, then before we decide to take debt for many years, it is worth considering several factors.
Don’t forget to sit down with the calculator in hand and analyze whether paying for the monthly loan installment is better for you than renting. Count the rent, utilities, add the loan installment and expenses such as commuting costs, etc. In Western Europe, people often rent apartments all their lives and live well, only in our country it is accepted that yours is the most valuable.
This is probably also due to the economic and social situation of our country, which does not offer cheap apartments for rent in large quantities, does not build new communal apartments, hence the mortgage and the purchase of property is the only chance for many for an independent apartment.
The next step must be comparison. Before we go to a random bank with the intention of calculating creditworthiness, at the beginning we better compare what banks have to offer when it comes to mortgage.
A comparison tool is a good solution to start with – thanks to it we will find out which bank will grant the loan for the requested amount, what is the interest rate on the loan and what will be the installment of the mortgage, and if the offer turns out to be interesting, you can always order a conversation, thanks to which the consultant will contact us – not the other way around.
Young people usually decide on a mortgage for the simple reason that installments of such an obligation are usually spread over decades. However, it is worth being at the threshold of a career, think twice about whether we are definitely at the moment when we can afford to take out a mortgage? The vision of your own apartment may be tempting, but it is better not to wait until we start a family and then sign a commitment with the bank for years.
In the end, we do not know yet how the labor market will be shaped in the future, whether we will have sufficient income to pay installments. For a twenty-year-old single, renting an apartment should not be a problem, especially since, when changing premises, they will be able to look at their various parameters and standards, which will definitely positively affect the choice of premises to buy in the future in terms of their preferences and preferences.
In addition, employers nowadays value mobility and readiness to move, so unless you have a professional position, it is worth renting an apartment rather than buying it.