Only 1.6 billion, but want a central house convenient for my children to go to school, should I buy a 50-year-old apartment?

Ms. Linh, 37 years old, is working at Vu Trong Phung, Thanh Xuan district, Hanoi. A house in or close to Thanh Xuan district will help her achieve 2 purposes: Working close to and convenient to pick up the oldest child who is about to enter 1st grade.

Large area, good price, nice location, but only for 40 years

With a budget of about 1.6 billion VND (including the sale of living apartments), she has researched a number of apartment projects next to her workplace. Among many projects, Ms. Linh is very pleased with an apartment complex that meets the standards with the apartment value about 20-30% lower than the market level.

With the same apartment area of ​​​​about 60m2, in the center of the capital, and according to the standards of high-class apartment projects, the apartment that Ms. T chooses costs about 1.6 billion VND, while the market price for A similar apartment falls around 2 billion.

However, after learning about the procedures for buying and selling apartments, she learned that this is an apartment complex with a 50-year land use term for the investor. As it turned out, this was originally a 50-year service land assigned by the state to the investor. The investor takes time to apply for a permit and then complete construction takes about 10 years. Therefore, the contract signed between the land buyer and the investor is only a lease-use contract valid for 40 years from the date of receipt of the house.

After those 40 years, the two parties will review the apartment use status and related policies to sign an extension or the buyer will have to return the apartment to the investor.

Points to consider when lowering money to buy a “50-year apartment”

Only 1.6 billion, but want a central house convenient for my children to go to school, should I buy a 50-year-old apartment?  - Photo 1.

According to the contract signed between the investor and the hotel, this type of apartment is called a Hotel Lease Contract and the model of apartment projects for rent with a useful life is a hybrid between an apartment and an office. called officetel.

The investor of these projects must pay the land rent for 50 years, while for the apartment projects with a long-term term, the investor must pay the entire land use fee. Therefore, the 50-year apartments have not too high prices, suitable for most people’s financial ability.

According to a lawyer, the biggest difference between an apartment with a 50-year pink book and a long-term apartment is the rights of people after the allocated land expires.

At the same time, for buyers who need to use the book for the purpose of bank loans, apartments of this type will not be able to apply for a bank loan. In case the user, after a period of time no longer needs to use, wants to transfer under the brokerage of a project, the transfer procedure only needs to be signed by three parties in a document including the investor, the person named The lease agreement and the receiver are fine. However, with this type, the value of the transferred apartment will also be reduced and the liquidity will be low.

However, the plus point of these projects lies in the good prices compared to the market, meeting a number of target customers who have the need to buy to live in, not do business or need a loan book. Bank. Some projects even allow customers to borrow from the apartments they sell, not through banks, with attractive interest rates.

Many friends advised Ms. Linh not to buy this type of apartment. The common mentality of Vietnamese people is that buying a house is a big event in life, along with accumulated assets for many years, but just to own an apartment can be understood as ‘rent’ without being fully owned / long-term. long.

In another perspective, 40 years of use, in some ways, the apartment has also deteriorated a lot. And it can also be understood that instead of owning a long-term book with a price of 30%, the buyer chooses to “rent” and pay a lump sum, not worrying about the inflation of the cost of “renting” a house. five.

Really, this apartment, Ms. Linh really likes when it meets the criteria of budget, area and location. Only those who spend an hour struggling on the way to the office, and have to reverse the way to send their children to school understand the value of a house near the school that is convenient for mothers to go to work. So Linh is still wondering if she should buy an apartment like this? With an accumulated amount of 1.6 billion, where can there be a better apartment choice in Thanh Xuan district? huu-50-male-20220326005621654.chn


By Business and Marketing

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