If you dream of owning your own property, see if it's really worth it finance an apartment at the moment.
We know that many Brazilians are motivated in life to buy their own property, to stop renting or even as an investment.
However, when evaluating which is the best option, the question often arises: is it worth it? finance an apartment nowadays?
According to data, financing in Brazil has increased considerably over the last 10 years.
However, is this the best option for everyone?
This is a personal decision, which must be considered according to each person’s goals and needs.
With that in mind, we decided to talk a little more about financing and whether or not it is worth financing your own property today.
What is real estate financing?
In layman's terms, when you finance a property, you borrow the full value of the house or apartment from the financial institution.
In turn, the institution pays the total amount to the property owner and receives payment of this amount in installments plus interest.
It is worth noting that this is a long-term commitment: generally, financing is paid in 360 months or in years, 35 years.
In addition, these institutions usually ask for up to 20% of the total value of the property as a down payment.
For example: if you are buying a property for R$ 140,000.00, the down payment is R$ 28,000.00.
Therefore, when deciding to buy an apartment or house, it is necessary to plan in advance to have this amount saved.
Who can finance a property?
To be able to approve financing, you must meet the requirements below:
– Have a clean record (no restrictions on Serasa or SCPC.
– Not having problems with Social Security
– Be over 18 years old or emancipated at least 16 years old
– Be Brazilian born, naturalized or have a foreign visa with permanent residence.
Is financing a property worth it?
For many Brazilians, owning a home is an important and much-desired achievement.
However, the biggest challenge in all of this is meeting the requested requirements and being able to gather the resources to do so.
As it is a relatively high investment, it can take a few years to raise the amount needed to acquire the property.
And if you are in doubt between buying or renting a property, you need to take into account that financing is a long-term commitment, as we mentioned above.
Therefore, it is important to have financial stability to take on a commitment of this size.
In any case, you need to work hard to make this dream come true and not give up at the first adversity you encounter.
After all, you will also be investing in your future and the future of your family.
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