When you think about buying an apartment, the first feeling is to be fulfilling a dream, but then certain doubts invade you and you end up postponing that idea. And is that just thinking about everything that can go wrong, you are discouraged and prefer to continue in your current situation.
Don’t be scared, this doesn’t have to be that way. If the following nightmares are those that prevent you from being encouraged to buy your first property, this is the answer for each of them:
What if I can’t continue paying the credit?
First, you should keep in mind that there is the refinancing option, whereby, if you have difficulties paying the mortgage, you can talk with the bank to make a readjustment of the credit conditions, granting you the corresponding facilities. Remember, the bank is interested in paying, so they can reach an agreement. Also, it is important that you do not forget to have an emergency fund, which can help you in these cases.
What if the monthly fees are very high? This should not happen if you first compare the different options offered by financial institutions. When you see what the fees are, you can choose the one that best suits your pocket. Eye, you should not monopolize more than 30% of your income.
What if something happens to my home? All mortgage loans come with insurance that protects the home for the entire duration of the debt. This insurance protects against disasters that could affect it. However, you can always check under what conditions it works in your contract.
What if I die before I finish paying it?
There is the insurance of relief, which guarantees that if you die, it will be this insurance who will finish paying the debt to the bank. The insurance percentage is included in the monthly installments.
With these answers there is no excuse for letting these nightmares get between you and your new home.