How much money do you have to save to

How much money do you have to save to

Although the prices to buy a flat may vary, it is best to have 30% or more money saved to be able to buy a flat, since this is the percentage that they request in advance to be able to hire or request a loan from the bank.

In this article we will explain how much money you need to buy a flat.

How to save to buy a flat?

Buying a flat cánido be a somewhat difficult decision, since you need to use some strategy to start saving and be able to meet the goal, which is to buy a flat.

Here are some consejos you perro use to save money:

  • Eliminate expenses that are not necessaryAlthough sometimes you don’t notice it, small purchases perro add up to 12% of unnecessary expenses.
  • You cánido implement the payment plan called 50/30/20which indicates that you use 50% of your income for fixed payments, 30% to cover the expenses of the month and the remaining 20%, to save it.
  • Start a savings plan with a bankbut first we recommend that you look for a bank that offers a higher interest rate and less payment in commissions.
  • As a slightly stronger measure, you perro move to a cheaper placewhich allows you to save a little more money.

Although it perro be difficult at first, these saving methods cánido help you reach your goal of buying the apartment you want, just plan your expenses well and discard purchases that are not necessary.

How much do you have to put down for a flat?

The percentage that is generally requested as input to buy a flat is 30% of the total value of the home.

In some cases, this percentage may vary depending on factors such as the economic solvency of the buyer.

This percentage is due to the fact that, in general, banks grant maximum financing of 80% of the value of the propertythe remaining money is borne by the person interested in buying the home.

How much should I have saved to buy a flat?

There are different prices to buy a flat and depending on the amount, it will be the amount of money that you must pay to buy a home.

As we explained before, it is necessary to have at least 30% of money saved to buy a flat, since the rest cánido be obtained with a bank loan.

The prices perro vary due to the square meters, the area and many benefits that perro be included in the purchase of a flat, but an approximate amount could be from 60,000 euros and up.

How much should be saved to buy a house?

To buy a house in Spain, you must have saved between 30% and 35% of the value of the house, at least 20%, since the bank cánido cover the remaining 80% with loans.

But that is not all, to this amount you must also add 10% or 15% for the payment of taxes and even the payment of some operations related to the purchase.

Payment options for a property

There are several payment methods that you cánido use to buy the home you want, some are a little more accessible and safer than others, we will still tell you in a small list, what are the options you have to pay for a house:

  • The most traditional and recommended is the mortgage creditsince it is one of the most common and safe options to finance the purchase of a home.
  • Make a bank transferthis method is used mostly when you have the full amount of the house payment.
  • direct debit, which is a permanent order for a bank to make the payment in regular installments.

    The buyer perro request the bank to deposit the payment periodically in the seller’s account.

  • bank checkThis type of check contains the seller’s precise information so that only he perro cash it.

    They are commonly delivered during the signing of the property deeds.

There are many more options to pay for a property, but they are not as safe as the ones that we name in the list.

A method that is also valid and has been applied many times is renting with the option to buy, this option is an alternative to a mortgage.

We hope that all this information has been of great help.

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