Mediafax (Mediafax)
Mortgages  |  January 02, 2013 15:09:16

Mortgage or rent? Advice on how to make the right decision


But not everyone has been so lucky to inherit or get their own housing. A lot of Czechs therefore face the question of how to finance the purchase of property. It pays the mortgage debt on a large part of his life, or it is better to live in rent?

Under current conditions generally true that the mortgage debt is financially rational option than paying rent. Arrange a mortgage loan can be seen as an investment. Property price because it may in time grow, apartment or house and its owner appreciates.

But if house prices fall, the value of the investment falls as well. However, if the property is only intended to own housing may not be the owner of any downturn in the real estate market worry.

When deciding between a mortgage loan and subleases is primarily necessary to determine how much money a household can afford to pay monthly to ensure their own housing. Of this amount must then decide how high you can get a mortgage.

Following the survey should place in which housing should be located - both in terms of the lease, and from their own home. Verify that the available rental housing with rent less than the maximum amount of the budget earmarked for housing and that housing is available own the equivalent of a mortgage. If both are available, it is possible to start comparing.

Simply we can say that if a higher rent, then pay off a mortgage. If the lease is less than the mortgage interest may be paid the rent. Remember, however, that the mortgage interest decreases over time.

Once you have a mortgage with an apartment or buy a house, or embarking on its construction, you should be clear in the fact that you want to live here practically all my life. Tied into a mortgage you here for decades. It even think about it, what is your job title. For a childless man who is frequently moving for work, it is better to live in rented accommodation. If you have children and vice versa steady job, then you definitely prefer their own housing financed mortgage.

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