Having lived in a rented house, this is the second apartment Nha Phuong’s family (33 years old, producer) owns. For her family, borrowing money to buy a house in installments is much more beneficial than renting. She considers the fact that buying a home is also a real estate investment. When your psychology, financial ability and work are good enough, you yourself will not feel like going to work to pay off debt.
In 2020, Nha Phuong’s family decided to buy a 2.4 billion dong apartment in District 9 (HCMC) when they had 900 million dong in hand. The remaining 1.5 billion dong, her family pays in bank installments at the rate of 17 million dong/month, including principal and interest.
Nha Phuong said that before, the couple was living in another apartment, but the facilities and services were not like the new location, so they decided to move to this location. Having had the experience of buying a house since the first time, it is not difficult for this owner to find a 67 m2 apartment with 2 bedrooms.
Sharing about choosing an apartment instead of a house, Nha Phuong said it is easier to buy and sell apartments than real estate.
“My family just needs to choose a reputable investor and choose the right apartment. If we buy a house, we will have to spend time researching on issues such as disputes, planning, pink books. … and there are many other things that my husband and I cannot invest in. In addition, my family’s lifestyle is more about enjoyment, so I prefer to choose places with full safety facilities. Therefore, living in an apartment will be more suitable than housing in the same budget.”
Before deciding to borrow from a bank in the form of 1.5 billion VND in installments, Nha Phuong and her husband had a specific financial management plan to reduce the pressure of monthly repayment.
“First, the income of the whole family must be at least 3 times more than the monthly debt payment amount or 1.5 times the total amount of debt payments and expenses.
Secondly, we don’t spend all our money to buy a house, we keep some cash in case of illness and other needs such as traveling, returning to our hometown when we have the opportunity…depending on the spending of each family.
Third, we calculate that there must be enough money to pay off the loan for 6 months if one of the spouses or both of them lose their jobs.
Fourth, we agree that if in the worst case scenario, we will sell the house to manage without losing any money”, Nha Phuong shared.
With this financial plan, Phuong’s family does not have to bear the burden of debt every month and lose the feeling of going to work to repay the debt. Instead, she and her husband had time to think about what to do to have more money and still maintain a normal life.
Giving her opinion on whether to buy a house or live in rent, Nha Phuong affirmed that taking a loan to buy a house is a more profitable option than renting. “Actually buying a house is a real estate investment. The amount of rent each month is equivalent to the monthly installment payment to the bank, so it is much more profitable to borrow money to buy a house. Paying off the mortgage after a month At that time, the house is my property, and the rented house is always a rented house,” she said.
The 67 m2 apartment with 2 bedrooms, 2 bathrooms is kept the same layout, but the owner changes all the furniture to suit the purpose of use. Her family spent about 1 month to come up with ideas with a team of architects and another 3 weeks to complete the construction. It is known that the cost of design and construction is about 300 million VND (excluding electrical appliances).
Entering from the main door, on the left is a shoe cabinet, the dining table can be moved if there are more people. The kitchen, dining and living room spaces are connected.
The soft yellow light of the LED ceiling lights, downlights & spotlights, and pendant lights create a cozy space
The shoe cabinet is made to touch the ceiling to take advantage of the overhead storage
The TV cabinet and all TV wires, speaker wires, game console wires… are designed to be wall-mounted and set up connected to the back of the cabinet to help keep the space neater.
The kitchen area is small, so Nha Phuong and her husband added a plaster arch to create a visual effect separating the kitchen and living room. Due to the small area and many devices, her family built a connected system, the remaining space was used for cooking.
The 2 compartments above the microwave are also built into kitchen cabinets. Hiding kitchen items helps to keep the space neat and open
The cooking surface is quite modest, so the sink area is designed with a wooden surface so that the lid can be covered to have more space for cooking.
In the master bedroom, the owner uses a bed with 6 drawers to store things. She also put a full-length mirror in the room as a way to visually expand the space.
View from the bed to the wardrobe system and the door to the toilet
Nha Phuong made an L-shaped cabinet connecting the entrance to the WC door to have more space to store utensils above, so as not to leave any furniture outside.
In the children’s bedroom, under the counter are 3 drawers including 1 drawer as large as the width and 2 large drawers with a lid equal to the length of the drawer. All baby supplies are stored here.
Loggia – on the left, there is an L-shaped corner inside to accommodate a washing machine, dryer, 3 air conditioners. Outside is a cabinet for cleaning tools, laundry detergent… Absolutely do not leave anything outside so that the space is neat and tidy.
Household cleaning tools are all placed in the lockers
Photo: Ung Ngoc Nha Phuong
at Blogtuan.info – Source: cafebiz.vn – Read the original article here