{"id":152463,"date":"2022-09-28T12:40:41","date_gmt":"2022-09-28T10:40:41","guid":{"rendered":"https:\/\/aq-acentor.com\/?p=152463"},"modified":"2023-01-24T11:11:44","modified_gmt":"2023-01-24T10:11:44","slug":"when-to-buy-a-house-or-flat","status":"publish","type":"post","link":"https:\/\/aq-acentor.com\/en\/when-to-buy-a-house-or-flat\/","title":{"rendered":"When is the best time to buy a house or flat?"},"content":{"rendered":"\n<p>If you are wondering when <strong>to buy a house<\/strong>, you should know that this is perhaps the best time to do so. This is because the situation is slowly <strong>regularising<\/strong>, but don&#8217;t be careless, as the <strong>housing market<\/strong> is expected to become more expensive, which will cause <strong>prices <\/strong>to rise in the coming months.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">When to buy a house or flat?<\/h2>\n\n\n\n<p>After the Covid-19 lockdown, the housing market has been slow to recover. This growth has been <strong>gradual <\/strong>and has allowed many owners to sell their properties. However, this <strong>demand <\/strong>for property will, in the long run, make the property market more <strong>expensive<\/strong>, particularly in and around large cities. Demand is expected to continue to rise in the coming years.<\/p>\n\n\n\n<p>What buyers are looking for nowadays is <strong>spacious properties<\/strong>, with <strong>communal areas<\/strong> such as gardens or swimming pools, or at least with a <strong>terrace <\/strong>and <strong>balcony<\/strong>. In addition, flats and houses with sufficient square metres are wanted. So, is it time to buy a house?<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Rising house prices<\/h2>\n\n\n\n<p>When house <strong>prices <\/strong>increase, different <strong>factors <\/strong>influence this rise. These are taken into account here:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Mortgages.<\/strong> After the pandemic, banks have made it <strong>easier <\/strong>for their customers <a href=\"https:\/\/aq-acentor.com\/en\/what-are-the-requirements-for-taking-out-a-mortgage\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>to get mortgages<\/strong><\/a>, which makes more people want to <strong>buy <\/strong>houses and prices are rising because of this <strong>demand<\/strong>. Moreover, the <strong>Euribor <\/strong>has also caused interest rates on variable rate mortgages to rise. Take note of which type of mortgage to choose!<\/li><li><strong>Saving.<\/strong> During the pandemic, it was impossible to go on holiday, for example, so many households <strong>saved<\/strong>. This makes it easier to <strong>buy <\/strong>flats, if not in large cities, then as <strong>second homes<\/strong>.\u00a0<\/li><li><strong>Economy.<\/strong> Rising house prices may feel the effects of the economy. This is due to the <strong>rising inflation<\/strong> in <strong>recent months <\/strong>in the price of basic products. So, before it continues to rise, you may want to consider buying a <strong>property <\/strong>this year.\u00a0<\/li><\/ul>\n\n\n\n<p>According to these figures, it is a good time to buy a house as long as you have <strong>enough savings<\/strong> to do so. Remember that the costs associated with the purchase not only involve the transaction itself, but you also have to cover other costs, such as <strong>notary <\/strong>fees and <strong>taxes<\/strong>. Additionally, bear in mind that banks, faced with the fall in demand for sales during Covid-19, are now offering greater <strong>benefits <\/strong>and <strong>bonuses <\/strong>on mortgages. Compare different financial institutions before deciding on one.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Buying a house: can you afford it?<\/h2>\n\n\n\n<p>You already know, broadly speaking, how the <strong>market <\/strong>is doing and that <strong>forecasts <\/strong>estimate that demand may grow in the coming months. But now you must take <strong>personal factors<\/strong> into account when making a decision on whether or not to buy a house.&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/nLAlMrXw7gYtv5MHCPf_DYqSYHyNIVnUOMuGGvSh3dazSGUqTw3C-8iqVI2MjLbEF4a56i1aY8iKOSyRIYb6YCIDDrxFYhdvobQ9V3GEHFBjtQk9zijAKU2ntZVlB9z-eTpqm38sZTivSguib_63YetnNqwTrW-LWIeDJMDdNQlHNzInAhJB3AVhzmO3IvraBhnSfg\" alt=\"\"\/><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Savings<\/h3>\n\n\n\n<p>The first thing to consider is if you have <strong>enough savings<\/strong> to buy a house. As you have already seen, buying a property does not mean simply <strong>paying <\/strong>the full amount of the property to the seller, but also covering <strong>costs <\/strong>such as title deeds and taxes, among others. In addition, mortgages <strong>do not cover 100%<\/strong> of the value of the property, but usually finance <strong>80%<\/strong> of the value of the property in the case of permanent residences.<\/p>\n\n\n\n<p>Please note that you will have to <strong>pay the deposit<\/strong> (10% of the value amount) as a <strong>reserve<\/strong>; and pay the <strong>remaining 10%<\/strong> if the bank grants you 80%. It is always advisable to have an <strong>extra 10%<\/strong> of the price of the property to cover other expenses.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Type of mortgage<\/h3>\n\n\n\n<p>A large part of the population acquires their property through a bank <strong>loan<\/strong>. It is very important to know <strong>what kind of mortgage<\/strong> you can afford. <strong>Variable rate loans<\/strong> are very attractive because, as the <strong>Euribor <\/strong>goes up and down (downward trend in recent years, but slowly recovering), instalments are not as high. In other words, it seems more attractive to take out a variable mortgage than a fixed-rate mortgage.&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/FuDW28rpj4uCbuigIAmy2N8AtasAb0-ZzpIDbZ3jckiMI7taiazVOolWX5YYAArkwlwzLhqzx-sr4tqQxkoMB-XDlhJ2qnkv8MLSxUW6DSEORRC3tADuQidls9dlayihyOJNJcMzn2YspGw9nMDyP-AF2yeso-ZT4p73zKy5OgJcCa08-iKTN0jQoR5ktO9XYy7fuA\" alt=\"\"\/><\/figure><\/div>\n\n\n\n<p>Note that <strong>variable mortgages<\/strong> can be repaid over <strong>30 or 40 years<\/strong>, while fixed-rate mortgages can be repaid over <strong>25 years<\/strong>, even if the repayments are higher.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Employment status<\/h3>\n\n\n\n<p>Furthermore, for banks to grant a mortgage, they have to carry out a <strong>feasibility assessment<\/strong> on the individual. This allows financial institutions to determine whether or not you can afford the <strong>repayments <\/strong>in the long term, which is why it is important to have a steady or stable job that will allow you to afford the costs in the long run. Moreover, the Bank of Spain itself recommends that <strong>no more than 30%<\/strong> of income should be spent on mortgage repayments.<\/p>\n\n\n\n<p>On the other hand, if you are looking to buy a home right now, it is worth contacting the bank where you have your <strong>salary paid<\/strong>. This is because banks offer many advantages and benefits to their current account customers.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After the Covid-19 lockdown, the housing market has been slow to recover. This growth has been gradual and has allowed many owners to sell their properties.<\/p>\n","protected":false},"author":1,"featured_media":147682,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[548],"tags":[],"class_list":["post-152463","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>When to buy a house or flat? | AQ-Acentor<\/title>\n<meta name=\"description\" content=\"If you&#039;re thinking of buying a home, find out what you need to consider to make sure it&#039;s the right time.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aq-acentor.com\/en\/when-to-buy-a-house-or-flat\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"When to buy a house or flat? 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