‘With an income of 25 million / 2 people, we still risk a debt of 57 million VND / month to buy a mid-range house’
Thinking to buy an apartment of 1 billion, borrow 300 million, but the owner turned the car, so he decided to buy the apartment for nearly twice the price
Huyen and her husband, 37 years old, are from a small town to Hanoi to work. Their families are also not rich, so since they were students, both brothers and sisters have lived quite frugally. After going to work, both strive for their careers, and their wealth is also saved, determined to buy an apartment to live in Hanoi without relying on their families.
From the time they got married to the time they had their first baby, they rented a house at a cost of about 3 million VND/month (2013 – 2015). Right from the moment of marriage, the two have planned to save 30% of their monthly income to ensure that they can buy their own apartment as soon as possible, and strive to only rent a house for 2 years.
Income 25 million VND/2 spouses/month and following the principle of saving 30%, plus year-end bonus and pre-marriage savings, by 2015, the couple has 500 million VND in hand and decided to find a home.
Panoramic view of Times City (Photo: NVCC)
With the accumulated money, she plans to buy an apartment with an average price of about 1 billion VND, get a bank loan of 30% of the value of the apartment, borrow money from friends and colleagues to make furniture about 200 million without interest (loan many people a small amount each – it’s easy to repay the loan if the lender needs it suddenly). After having a new house, the amount of money that is being rented will be rotated and offset to pay bank interest.
The couple found a satisfactory apartment in Linh Dam area, an area of about 70m2. The couple made a deposit to close the apartment purchase. Unexpectedly, the householder turned the car around, sold it to someone for a higher price, and paid the deposit.
The next morning, the couple immediately went to see another apartment in Vinh Tuy area. Apartment on the 30th floor, 78m2 wide with 2 bedrooms, 2 bathrooms, lake view, near the market, kindergarten and some utilities and incentives from the investor. The value of the apartment is 1.55 billion, raw handover, plus finishing money will be at 1.8 billion.
Considering a bank loan of 300 million dong, now it has skyrocketed to nearly 1.2 billion. “However, the couple did not feel too alarmed. Maybe that’s the charm of buying a house. And determine from the goal of 2 years to pay off the initial debt to 5 years“, Huyen said.
Earning 25 million VND/month, now paying the principal is 57 million VND/month, how do they “plow” to pay off the debt in 2 years?
Signing a house purchase contract in 2015, by 2017 is the deadline to receive the house, Huyen and her husband have paid off all the loans. Huyen’s total debt is 1.4 billion dong, of which nearly 1.2 billion are borrowed from banks and 200 million uninterested external loans.
With a total debt of 1,360 billion VND, the two brothers and sisters will have to pay the principal (not including interest) at approximately 57 million VND/month, with the concept that the apartment is like a motivation for the couple to have the same goal of earning. saving money.
From being an employee of the sales support department of a real estate company, he applied to become a salesman and strived for the position of deputy sales manager. The projects he undertakes have very good revenue in the context of the booming real estate market.
Living room (Photo by NVCC)
Huyen is also fortunate to have a 10% salary increase. At the same time, she received an additional job in accordance with her specialty, which is document translation.
The entire repayment process:
Job
– Husband: Deputy Real Estate Department
– Wife: Bank employee
Total revenue: in 2 years
+ Total income of the couple / month is about 30 million (increased from June 2015)
+ Year-end bonus + money from husband’s projects (done a few years ago): 300 million/year
Total expenditure:
Family expenses: About 13-15 million/month for a family of 2 couples and 1 small child (2 years old) (time 2013-2015)
– Savings: 50% of monthly income: about 360 million VND
– Year-end bonus and projects (2 years): about 600 million VND
– Other income (interest from securities): about 100 million VND
total: 1,160 billion (After signing the contract, the bank will start to calculate interest – but interest will decrease gradually according to the outstanding balance. The amount borrowed from the outside is nearly 200 million to buy furniture, renovate without interest)
Signed the house purchase contract in June 2015 and received the house in July 2017.
With experience buy a houseHuyen said: If you intend to buy a house, then just “close your eyes” to buy it, don’t be too afraid of the mountain of debt on your head.
“When you’re really in debt, you’ll know your earning potential is actually huge.”
“And always think about the new house you’re about to live in, which is where you go home, because you’ve arranged every corner of the house yourself. The couple and their children will gather together happily in that home – that’s it. is the biggest motivation to lower the determination to buy an apartment but have to take out a loan“, Huyen shared.
at Blogtuan.info – Source: Soha.vn – Read the original article here
