A question that is always present when we consider becoming independent.
When we think about becoming independent, a constant question is whether it is convenient for us to rent or start investing in buying a house. And many opt for the rents, but is this really the most viable option?
Although renting seems to be “the best alternative”, it should be noted that it has more disadvantages than we imagine. Among them that we are investing for a heritage that is not ours.
The data that Mercawise provided us indicates that 57% of Mexicans have their own home, while 38% are in a rental situation. As you can see, there is still a high percentage of people who are not investing in their assets. Are you part of these numbers?
If you are one of those who are still renting, do not detach yourself from this article, because we will tell you why it would be a better idea to pay a mortgage on a monthly basis, instead of renting for the same price and not having assured equity. In addition, our credit experts at ION Financiera will give us the best advice for considering your own home.
Why is a home of your own better?
Omar Vázquez, product manager at ION Financiera, tells us:
“When you are going to acquire a mortgage loan you have to consider that you are making an investment in equity, this is finally the radical difference that exists between the one you rent and the one you acquire a mortgage loan. If you continue to rent all the money you are spending it to cover a current need, but that current need stays there and does not go any further ”.
When you consider investing in a property through a loan, you begin to capitalize your money on your own property and not on someone else’s, according to what our ION specialist tells us.
“With a mortgage loan what you are doing is that you are contributing your money towards an investment, towards equity, towards building capital for yourself and that in the future has a greater value.
When do you start considering letting go of rents?
For a person who has rented for years, there comes a point where they wonder if it is feasible to continue with this lifestyle or to start considering investing in something of their own. Usually, this decision comes when you find a stable partner or when you want to start a family.
On the other hand, some people who already have their own heritage look for another place, this is focused more than anything on space, since most of those who have a house of limited dimensions are single. But in starting their own family, they need a place that can provide them with a larger area.
If you stop renting your new property, its value can increase over the years
Another point to highlight about a mortgage loan above an income is the increase in capital gains. Let us remember that it is the value that the property acquires over the years when considering factors such as location, state of the property, among others.
The experts at ION Financiera indicate that this is an important point because the value of the property you acquire will increase over time and if you want to sell, the capital will be much higher compared to the original figure for which you acquired it.
Why should you take out a loan to buy a house?
Unlike rents, with mortgage loans, you will have the possibility of having a stable payment, which is already fixed from the moment the contract is made. On the contrary, the rental rates will increase as the contract with the owner is renewed, because in terms of inflation, these will grow by 4%.
That is why when selecting the mortgage loan, we could consider that the user is protecting himself against inflation, because as mentioned in the upper part, if the financial institutions have assured you a fixed payment, there is no way that this will change in some time.
Omar Vázquez, product manager of ION Financiera: “In the case of mortgage loans, you will always know how much you are going to pay; If at the beginning it is defined that you are going to pay 10,000 pesos, it will always be the same, it is a fixed payment, in the case of income, no, in the case of income it will be an annual growth. If you consider that more or less each income grows in terms of inflation by 4% per year, it means that it will always increase ”.
Another point to emphasize of the mortgage loans on the incomes invoice of the experts, the one of the insurance of life.
Entities such as ION Financiera have life insurance, which will ensure the client’s family in the event that the client dies at some point. If this happens, the borrower’s family no longer has to continue paying off the mortgage loan and automatically becomes the owner of the property.
In addition to this, payments can be made in advance, which has the advantage of saving a little on the interest generated by the institutions. Adding tax benefits, such as a deduction with the SAT, this due to the taxes generated by the credit.
So if your thing is to generate invoices for what you spend, then you should not miss the opportunity to do so. So remember, getting ahead in covering these credits also brings its respective benefits.
Don’t think about renting anymore and take the opportunity with ION
Now that you know some of the points that favor buying a house instead of continuing to rent, it is time for you to analyze acquiring your own home through a mortgage loan. It is clear that buying can be an investment in the future and renting only takes away the opportunity to have a stable place, taking all your money nowhere, so to speak.
From what we can conclude, that in the long run the rent is somewhat more expensive since the money spent on them has no way of recovering.
At ION Financiera we can provide you with a personalized loan, which can be covered in a term of up to 20 years, with amounts of up to 10 million. Additionally, income verification is non-traditional, ranging from simple logs to bank statements.
Remember that we will help you in each and every one of the steps to follow, all so that together we can take you to your new home. It is time to stop renting and start building your family heritage.