(Part 1 of the advantages of buying in cash and summarized them in effective investment, preserving the value of cash by converting it into fixed assets, as well as the freedom to dispose of (real estate property) in the future, besides the speed of getting the house by paying in cash.)
The advantages of getting a mortgage
1- Saving cash, which means you can put it in an investment project that generates monthly or annual profits that will reduce the cost of financing or cover it completely, God willing.
2- Saving rent payments, meaning that paying the installments of ownership with an acceptable profit margin is better for you than paying rent for the real estate property you live in with your family.
3- If you choose a property with more than one residential unit (one floor and two apartments, for example), this will generate income that contributes to paying part of the installment and financing costs as well.
4- There are many financing programs supported by the Real Estate Fund and this will bear a large part of the mortgage costs for the applicant. 4- There are many financing programs supported by the Real Estate Fund and this will bear a large part of the mortgage costs for the applicant.
After reviewing the advantages of buying a residential property in cash or in installments through banks and finance companies, it must be noted that there are some notes on real estate financing if compared to buying in cash, perhaps the most important of which is that financing is subject to certain conditions that must be met by the applicant and the real estate property, and on the other hand your stability in the house is directly related to your commitment to make monthly payments; thus it is a concern for some from the future, especially for non-permanent or seasonal jobs or entrepreneurs.
When it comes to real estate financing, it is important to note that there are some disadvantages to it when compared to cash purchases. We can say that the decision to buy is an individual decision for the person wishing to do so, and it is he who decides to buy in cash (if his financial solvency is appropriate) or apply for real estate financing if he does not want to pay cash, decisions may vary from one person to another according to his situation. Those who are in a hurry and have the financial ability will not mind paying cash to obtain that housing and on the other hand the person wishing to finance must search for the most appropriate and compatible financing entity to apply for it and complete the deal to buy the home of a lifetime, God willing.
On the one hand, your stability is directly related to your commitment to pay the monthly payments.
Specialized in real estate finance and performance.
