How to save to buy a house or a flat

How to save to buy a house or a flat

Buy your own home is he elderly people dream. However, the relationship between the average salary and the price of a flat or house is abysmal, and saving enough to be able to buy is impossible.

a lot of people getno buy a house through a mortgageHowever, the initial investment to qualify for the credit is approximately 30% of the total value of the property, since it is necessary to cover administrative and fiscal expenses agregado a percentage of the value of the property.

Therefore, we are going to present some consejos so that you cánido start saving, at the same time that I will bring youcase to fulfill the dream of own home.

How much should I save to buy a house?

As you already know, the price of houses depends on the size, age, quality of construction, the area in which it is located and even the country. Therefore, the amount you should save depends on the property you aspire to.

Por example, andIn Spain, an average annual salary is around €25,000. An average house has a cost of €150,000. In other words, in order to pay the full price, every penny earned would have to be saved for 6 years. Something impossible.

That is why the mortgage seems the only way to be able to have your own home. However, even reaching this required 30% is also difficult. If we keep the house price at €150,000, we should still be able to save €45,000 in order to receive credit. That equates to saving more than €1,200 per month for 3 years. SUndoubtedly, the key is not only to have saving capacity, but also to obtain plus income, otherwise, it would become a long and stressful odyssey to reach this figure.

Given this situation, it is best to aspire to a home whose final price is around €70,000 and €90,000. For that price it is possible to get apartments between 90 and 120m2 with 2 bedrooms and 1 or 2 bathrooms, not far from the central areas.

House prices in Europe

The price per m2 of a 120 m2 house2 located in the large cities of Spain is €4,978. This means that a house with that area costs approximately 600,000 euros.

The most expensive m2 in Europe is in Monacowhere buying a 120 m2 home is worth 5.3 million euros. United Kingdom It ranks as the second country where it is more expensive to buy a home, andhe price per m2 amounts to 23,932 euros, which means that for a house of 120 m2 you have to pay 2.8 million euros. Third, it appears France: the price per m2 is 12,796 euros, which means investing 1.5 million to acquire a home in the center of large cities.

Spain For its part, it is ranked 14th in the top with 5,907 euros per m2 which is equivalent to €708,840 for a house of 120 m2 below Russia, Austria, Switzerland, Norway, Sweden, Holland, Finland, Italy, Czech Republic and Germany.

Consejos to save to buy a house

➜ The first thing you should do is equipo the amount you want to save and equipo yourself the goal of reaching it. It will be necessary carry out some day-to-day adjustments to get to the end of the month with some rest to save as savings.

➜ A safe way to save this money is to create a Bank account exclusively for this money. This way, by not having it available in cash with you, it will be much easier not to be tempted to use it.

➜ SIf you really want to get to your own house, you must be willing to reorganize your life, change your habits and make some sacrifices. The first thing is to make a list of priorities; Once the taxes, services and food supplies have been paid, you must separate which things are essential from which which are not and start your cuts there.

➜ Avoiding going out every weekend, avoiding ordering delivery or eating out, cutting vacation days or buying just to buy are some of the first things you should do analyze.

➜ Think before you buy. Analyze if it really is a necessity or a whim, and When paying, be careful with the card. ANDIt is true that it is more comfortable pBut by not seeing the money it is easier to overspend.

➜ To make it easier for you, you cánido organize your expenses weekly and in this way establish priorities and thus it will be easier for you to achieve your goal.

➜ Try to save as much as you perro in electricity and water. Don’t leave lights on unnecessarily, don’t overuse the air conditioning, take quick showers, and make sure you don’t leak any faucets.

➜ When making purchases, take advantage of the discount cards for associates and be sure to keep an eye on the weekly promotions and offers made by the large supermarket chains. You perro save a few euros on your weekly purchase.

➜ To achieve a saveeither even faster, you perro think about getting a plus part time job. youalso, perro start some micro-entrepreneurship that leaves you a few plus euros per month without spending too much time on it. If you have a especial ability, do not hesitate to find a way to exploit it.

➜ Finally, if you are willing to go a little more drastic in order to save a little more each month, you cánido change your accommodation for a cheaper one that maintains the minimum comforts. If you are willing to make this sacrifice, the dream of your own home is probably much closer.

Where to find cheap houses for sale in Spain?

Although the price of houses has been rising gradually since 2017, due to high demand; especially in the center and south of the country, there are areas where prices have been maintained and in some cases even decreased.

In general, the cheap houses are located on the outskirtsseveral kilometers from the nerve center of the cities and are not always good options.

However, in the northeastern Spainspecifically in the autonomous communities of Navarre, Aragon and The Rioja, prices per square meter have been falling over the last ten years, reaching under €1000 per m2.

Although, the cheapest cities to acquire a property are Elda, Ontinyent, Villena and alcoholall located in the Valencian Community. Are They have less than 25,000 inhabitants and their price is less than the €600/m2.

But if you are looking for affordable housing in a provincial capital, Toledo, Localidad Real, Cáceres and Palencia They are the cheapest cities and their cost of living is lower than that of other capitals such as La capital de españa either Barcelona.

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