The initial payment (IP) is currently 15–20%. If the apartment costs 7 million , the IP will be 1.4 million rubles. This is not a small amount, but it is easier to save up than the full cost.
According to our calculations, the Smirnovs will save up the required amount in 3 years and 9 months. And if they save 50 thousand rubles monthly, then in 2 years and 3 months. Moving into your own home in 2-3 years, rather than waiting 20-30 years, is a strong argument in favor of a mortgage.
We compared savings for an apartment without a mortgage and with one. You need to save for a long time in any case. If you save on your own, you will have to remain homeless for a long time. If you take out bahrain business email list a mortgage, you can move into a new house right away.
What to choose is up to you, but we will consider ways to save up the necessary amount. After all, to buy an apartment, you will need finances in any case.
Enlarge imagehow to save for a down payment
Before you save up for an apartment, it is important to set a goal and determine your motivation
Ways to save
How to save for a down payment on a mortgage or for buying a home with all your existing expenses? Here are some effective ways to find “extra” funds in your family budget and increase them.
Plan your budget
“Where can I get money for savings if I only have enough for the bare necessities?” is a reasonable remark.
