2016 starts with improvements in the real estate market: the number of mortgage loans is growing and the housing price index in the third quarter of 2015 has experienced its biggest rebound since 2007. On the other hand banks are losing the requirements for Grant credit and there are good prospects for growth. If you are thinking of buying a home it may not be a bad time. However, as it happens before the signing of any contract it is necessary to walk with feet of lead.
If you are convinced, do not take too long
If you have clear ideas and enough capital, do not think much: the price of housing has rebounded 4.5% in the third quarter of 2015 according to the National Statistics Institute. Before signing, it is necessary to check if the house has loads. It is also true that the market is not homogenous, and that prices have risen above all in the central areas of the big cities while in the more peripheral neighborhoods and in the smaller cities, they remain stable or even down.
There are areas with high supply and low demand have few inhabitants or because it still has not been revived employment. But there is still scope: In cities most exposed to construction, rather than waiting to buy can be negotiated with a little more aggressiveness.
Let yourself go
The choice of housing depends on our personal needs and circumstances: tastes, the area, services, and proximity to work or family among other factors. But neither fiddling in the search. You have to see houses but not too many with about 10 is enough. When you choose a house to live you, have to look at three things location price and size. At this time variable rate, mortgages are still a desirable option. The 12 month, the interest rate that is referenced many of the Spanish mortgages still on the floor: in November stood at the 0.079%.
They are appearing interesting offers fixed rate. It is an attractive offer now, since it allows offering much lower rates than in the past. This product is especially suitable for buyers who do not want to have scares with the fluctuations of the. But you have to be accountable. It is also true that they will pay something more for the first few years of their mortgage. For this reason, there are customers to whom the variable rate may be more suitable.
For example, for those who anticipate shortening the term of their mortgage or have expectations of increasing their income in the short term qualify from the bank. It calculates how much you can afford: the amount of money spent on the mortgage should never exceed 30% -40% of our net income.
That the bank does not deceive you
Banks cannot force you to condition the granting of mortgage insurance contracts or other products. What is feasible is to reach an agreement and offer a mortgage with a lower interest rate if we accept a greater bond. However, before deciding we must calculate if we compensate and compare the price of what we are offering with that of other entities.
New used and flat
This choice depends greatly on the preferences of each. While it is true that new homes tend to have better quality it is also important to consider that at present those that remain are concentrated in remote areas in ghostly neighborhoods or in poor locations.