Because of the high demand for suburban real estate(small houses or cottages near large cities) a new direction in lending - a house on a turn-key basis or a loan for suburban real estate objects. We will describe its features further in the article.
Distinctive features of individual construction
Taking into account the current economic situation,an inexpensive house is a rarity. Therefore, those wishing to build a house on credit are increasingly turning to banking institutions with a request to finance them with a cash loan. Despite the topicality of the topic, if the scheme for purchasing an apartment in a multi-storey building is accessible and understandable, then buying a house or a cottage is shrouded in a veil of questions that are to be sorted out today.
Построить дом в кредит – это отличная возможность To build a dwelling, built according to individual wishes and requirements of the customer, according to a separately developed plan, with an exclusive layout. But how and where can I make a home on credit? What should I pay attention to when concluding such a transaction with a credit institution, and how not to fall into the clutches of speculators?
Home loan and a number of issues related to it
Investing in suburban real estate -the most advantageous option. Apartments in modern residential complexes as typical representatives of the secondary real estate market have already earned negative customer feedback. Thus, the latter complain about the low quality of the internal works in the dwelling. And the owners therefore have to make repairs themselves after a short period of time.
To the main buyers of suburban real estaterefer people with monthly income in the region of 6000-7000 $, the age group of 40 years. They want to either change their lifestyle by buying a private home, or expand their living space. And in this situation, to build a house on credit - a solution that looks more rational than buying a few apartments.
The credit market is developing in our time.leaps and bounds. Today, a large number of credit institutions in Russia are positioning themselves as banks issuing loans so that their clients can build a house on credit. But in reality, only a few are engaged in such financing.
Is there a difference between buying an apartment and building a house on credit?
Between the procedure of crediting for the construction of a house in the private sector or an apartment in a high-rise building the difference is insignificant, but these fine details sometimes play a decisive role for the buyer.
Many credit institutions openlyloans for individuals who want to build a frame house on credit. Such small private houses are in high demand, because they are built quickly and without major difficulties, and the cost of this design is much lower than aerated or brick and at the same time is not inferior in quality.
Lending small private houses: distinctive features
The peculiarity of this type of lendingconsists in the following: a banking institution is less demanding on the documentation accompanying the construction of a frame house, while for the purchase of the finished one it is necessary to collect a whole package of documents.
The main advantage of lending for construction is the benefit for the client, since the cost of the loan is much less, and the term for consideration of the application is up to 1 month.
Build a house cheaply, on credit, you can,by contacting a bank or a real estate trading company that offers turnkey home construction services. In the bank, you may be required to pay a deposit: the land on which construction will be carried out or other real estate, which will act as insurance for the lender and will confirm your solvency.
Loan for the construction of a frame house in the cottage
In lending allocate another typefinancing, aimed at purchasing a finished cottage or building a wooden house in the cottage when you buy a plot and a house on credit, and the construction is carried out by the developer. This is not always convenient, since the buyer has the opportunity to take out a loan only in the bank that cooperates with the developer company, which undertakes to build a wooden house on credit. And credit institutions, taking advantage of a similar situation, sometimes expose unreasonably inflated rates for a loan to build a house, which is unprofitable.
In this case, the pledge for the bank is the acquired property along with the plot. Deadlines for consideration of the application - up to 3 weeks.
Features of consideration of the application
What determines the possibility of successfully considering a request to a credit institution in order to receive funds for the construction of a private house or cottage in the country?
The financial situation of the borrower - the first thingdraws the attention of a credit institution. The first requirement put forward by the bank is to make an initial amount that is not less than 30% of the total value of the future house being built on credit funds.
Note!There is one more important condition that is of key importance in the process - a wooden house or cottage must be built no less than 50% of the planned amount of work before contacting a credit institution.
The result is to build a turnkey housecheap, on credit, first of all you need to confirm your financial viability to make monthly installments and meet the requirements of the bank in relation to you as a lending entity.
The concept of "house on credit" still remainsshrouded in secrets, but the prospect of such a direction of financing is still there, especially considering the level of demand for a service that is constantly growing.
