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Millennials, wanting to say goodbye to rentals? 5 tips to buy your dream home – El Financiero

Buy a house or any property it is one of the biggest dreams from almost anyone. It represents his own space, the result of years of work and savings, as well as the have the peace of an inheritance added to the economic stability to it means not paying rent every month.

Contrary to what many think, young people are interested in living in a legacy that’s clearly yours, and to show a button: 65 percent of applications of mortgage credits belongs to the millennial segment, according to data from Morgana, the digital solution that helps people find the best mortgage on the market.

Good news in this regard that is requirements to be relaxed that a mortgage credit recent years. why so many millennials Like other young people who are economically active and committed to building the future who want to be able to find the house of their dreams, Ana Lucía Pereyra, COO of Morgana, shares these five tips.

millennials, 5 tips to buy your dream home

  • 1. The basics: Assess your financial situation

To find a house or apartment, you must always consider your personal or marital financial situation first, with the purpose of imagining the money to be counted in the short, medium and long term; This will allow you to know how much you really have and if you can freely afford it month after month.

  • 2. Choose the best option to get the loan

One of the most common ways to access a The banks are asking for mortgage credit; and the easiest and most convenient way to estimate is by solving online to help find the best option on the market.

Buying a house or apartment is not the same as buying a screen or even a car. It must be taken into account that for its high valueneed to pay from month to month a certain amount of money for up to 30 yearsit all depends on the level of income and the specifications of the mortgage loan requested. Being a financial snowball can mean late paymentsthe best thing is the habit of suffering less on each monthly payment.

To take this important step in life, there is no other option but to save and save. Everything adds up: going down to parties, leaving excessive expenses, buying clothes from time to time, living with what is necessary, etc.; everyone has different needs and tastes, but saving is not exclusive to anyone: anyone with a fixed income can do it.

In this regard, it is worth considering 2 tips:

You have to see the mortgage as income, so it should not be more than 30 percent of the monthly income. While you are in the savings process, something basic before taking the first steps to apply for a loan, is the ideal set aside at least 20 percent of the monthly salary and put it in the “little pig in the house of dreams”.

  • 5. Read everything calmly and learn about certain concepts

Finally, to keep everything under control in this important process and avoid surprises, You must read every contract or signed document with a magnifying glassas well as investigating some terms such as CAT (total annual cost): calculation including the expenses derived from financing. Choosing the lowest CAT can save up to 75 percent if you patiently compare options on the market.

About, this information of the National Commission for the Protection and Protection of Financial Services Users (Condusef) very clear in explanations and examples.

In social networks it is common to find memes that make fun of the fact that before, in the time of the parents and grandparents of the millennials,. it was easier to buy a housebut what ifIt is complicated with economic history of the country and gentrification, mainly in the big cities. This is true, “but not so”.

The reality is that with having the vision, control and love of a house or apartment that is truly yoursto achieve it becoming easier and from the comfort of home, this facilitates the process for young people, who according to Inegi data currently represent 25 percent of the population, and thanks to the new trading platforms When it comes to mortgage loans, fulfilling your dreams will be achieved if you have ambition.

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