Let’s make something very clear before anything else: buying or renting an apartment is a life decision, so you need to know how to manage the emotional side and the financial side so that you don’t regret any decision.
The emotional sometimes speaks louder, and there’s no problem with that. After all, who doesn’t want to live in what’s yours, do the renovations in your apartment and have an asset that you appreciate over time?
It’s the dream of many people.
But the financial factor is the other point that we cannot neglect, because, despite our high dreams, this dream often costs a lot of money.
But when is renting a property the best solution?
Learn: when renting a property is more worthwhile
Have you ever heard of opportunity cost? Keep this term, because it helps a lot when deciding whether you are going to buy or rent an apartment.
Basically, the opportunity cost means the cost of giving up an economic good. See how it works:
Imagine that you have R$ 300 thousand to buy a property in cash. If this amount were invested in a low-risk financial investment, it would yield R$2,500.00 per month!
So you might ask yourself:
1 – In my city, can I rent a property for R$ 2.5 thousand?
Most likely, you’ll get a rent that’s less than your income, so you’ll soon make a profit on the difference. This is one of the few ways the rent is worth it.
But you might be thinking: “Okay, but I don’t have R$300,000 to invest, I’d rather buy an apartment and have my own property in the long term”.
So now we are speaking the same language!
|Some disadvantages of renting a property:
See also: About Financial Worksheet. Keep your finances organized with this spreadsheet, in a simple, practical and intuitive way!
When buying an apartment is the best option
Buying an apartment is one of the biggest dreams of Brazilians, it would be no different with you. But when is buying a property the best option for your future?
Well, that’s a question only you can answer. This is because buying a property is a decision that is closely linked to the current moment of your life. Having a job that guarantees financial stability is one of the most important points, especially if you opt for a loan, as we will show later.
It’s also interesting to design your life; for example, you might wonder where you will be in 10 years’ time: will I have started a family, moved to another country, or changed my profession?
Everything will depend on your current moment, how much you are willing to invest in your own property and if you have any savings to take this first step. If these doubts are resolved, buying an apartment is the best option for your life.
Analyze the market options and choose the best one for you
You’ve already made up your mind and are going to buy your own property, so it’s time to analyze the market to choose the best option for your current moment of life, the one that best suits your financial health and will bring more well-being to yours. Day by day.
Location: this is a crucial point, as it will affect both your quality of life and the final value of the property. Looking for an apartment close to your job is a great decision, as is an apartment close to schools, hospitals and supermarkets. Remember that the better located, the more expensive the property will be.
Property attributes and differentials: sustainability, common areas that residents will actually use, safety items already provided for in the project’s project and parking spaces are some of the items that make the difference when choosing an apartment.
Value of the property: as we’ve already mentioned, the location will affect the property’s value, in addition, of course, to the price per square meter of the region where you want to live. Look for a realtor and clear all your doubts with him, after all there is real estate for all budgets.
Payment facilities, notary fees, financing and cash discounts: being able to count on some of these payment facilities will depend a lot on your negotiation with the construction company. Our tip is to always try to close the best deal for both!
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What is the best way to purchase a property?
Earlier we said that buying or renting an apartment is a decision that involves many factors in your life, and it’s not something you do overnight. It is necessary to research, seek information, fall in love with a project and commit to this life decision.
Below, we bring you the best options on the market for those who chose to buy your property:
Buy in cash: this payment method is recommended if you want to fulfill your big dream of owning your own property and have the money to finalize the purchase of the property. There’s nothing better than having something of your own that you can reform and leave the way you’ve always wanted.
Financing: financing a property is a decision for life, after all we are talking about a commitment of decades. This method is ideal for those who have a stable job and who allow a financial balance, as one of the main rules of financing is that it cannot commit more than 30% of your monthly income.
Real estate consortium: this payment method works like any other consortium, you pay a monthly amount (according to the letter of credit), you can bid to be awarded or you can wait your turn to be drawn. It is a low-risk option, but the person has no way of knowing when it will be considered, so it is good to analyze it carefully before opting for it.
Program My Home My Life: The federal program provides grants according to the value of the property being purchased. There are four financing ranges, for families with gross incomes from R$1,800.00 to R$7,000.
Real estate on the plant: an option for those who are not in a hurry
Buying an apartment on the floor plan is the ideal solution for those who want to invest in a second property or for those who want to purchase their first apartment, but can wait for its construction and delivery, which usually takes 4 years.
One benefit of buying at the plant is taking advantage of the lower interest rates on the work, precisely because the property will still be built.
Buy or rent: the decision will always be in your hands
So, were you able to understand the differences between buying or renting an apartment?
Let’s quickly recall everything we’ve seen so far:
- Always Take Into Account The Moment Of Your Life, Buying Or Renting Is A Decision That Is Reflected In The Long Term;
- Renting Is A Viable Option And Doesn’t Mean Throwing Money Away, But You Need To Put It On The Tip Of Your Pencil When Renting Becomes A Good Decision For Your Pocket;
- Buying A Property Is An Important Step In Anyone’s Life, So Don’t Measure Your Efforts To See Your Dream Come True;
- Find The Best Option To Buy Your Apartment And Always Search For All The Offers And Facilities That The Market Offers.
That’s it, now you’re more than ready to make the most important decision of your life, just don’t give up on being happy! Talk to one of our consultants and ask your questions.