Buying a home can be one of the higher investments you have to face. Therefore, it is a decision we shouldn't take lightly. In general, the search starts from a simple question: what is better, buying a new or second-hand home.
There is no perfect answer. In the end, the choice will depend on several factors that we should consider calmly since both options have their advantages and disadvantages.
Bank interest rates have broken historic lows in recent months. However, the increasing demands of banks and the expenses associated with mortgage loans are pushing more and more buyers to consider the possibility of buying a house without a mortgage.
This option has significant advantages. On the one hand, we avoid commissions and expenses associated with bank financing. On the other, it's a time-saver, as we won't need to carry out all the necessary procedures to obtain and sign the mortgage. And, finally, it is easier to negotiate conditions with the seller and make a profit.
We are immersed in a time of uncertainty at all levels, also in the real estate market. Therefore, whether to buy a second home now or wait, has become a big question for many people.
The complicated economic situation derived from COVID-19 leads us to think that this is not the best situation to assume a new investment. However, several factors make this the appropriate time to buy a second home.
Winning a good prize in a game of chance is an immense joy. For some people, it is the opportunity to pay off debts, for others to indulge themselves and those with an investment spirit consider something different: to spend on housing if they win the lottery.
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