Buying a house in 2019 isn't really that hard!
A compromising headline, isn’t it? A headline that is hard to believe in a first sight, but if you stay with me until the end of this article I will explain, how you can buy a house nowadays pretty easily.
Personally, in my life I got to have people, friends or relatives, who averagely have spent 5 or more years living on a rented flat in Tirana. Many friends of mine, especially new couples who start from zero, do not take the initiative to buy an apartment of their own. Unfortunately, it is true that in Albania, especially in the capital city, homes have become really expensive – and maybe for some people unaffordable – but for me honestly this is not the main problem that is holding these people back from investing in their lives.
The main and more massive problem that I personally see in our society – and I believe you will agree with me on this – is insecurity, fearing the bank, fear from applying for a home loan. If I start explaining why somebody should apply for a home loan, I immediately see insecurity on them and a fear like they are going to lose everything they have, but in fact that is not how a home loan works.
In Albania exists a wrong ideology for the person who gets the loan, for the lender and for loans in general. Applying for a home loan and wanting to improve your life situation is not a bad thing, it does not mean that you have only just borrowed money to someone, it does not mean that you are not capable, and it does not mean that you are not able to provide for you and your family. Home Loan is a financial amount that the banking institution puts in your disposal, so you can improve your lifestyle without suffering economically too much.
How much stress do you have because the paying date of your rent time that the rents in the capital city are pretty high? How much stress do you already have when from your salary, each and every month, you get to spend 50% or 60% to pay the rent, the electricity, the water bills and taxes? And the other part of your salary goes for food, for clothes and other needs. After all these monthly payments, can you tell me the amount that there is left for you to save monthly? I am going to answer that for you and I am sadly going to say: Zero. But don’t feel bad, and don’t feel guilty that you’re not saving for your future. But also, do not justify your living situation with the phrase: ‘These are the salaries in Albania’’- It happen to me to listen this sentence a lot and it doesn’t look very likely at all.
What if I say you that taking a bank loan and buying your home, you are going to save a lot of money?
How?
If you are a new couple, living together in a rented home 1+1 in a central area of the capital city, you have to pay 20.000 lekë or 25.000 lekë approximately rent. Let’s suppose the monthly expenses for the rent and all the bills (of water and electricity) are on an average 30.000 lekë (but I know the payments are actually higher than this). If you both have an average salary of 50.000 lekë there is 70.000 lekë from both of you to spend on, petrol oil, food, coffee or fun. You will be spending 360.000 lekë yearly, that in 5 years from now make 1.800.000 lekë. And what do you have in return? Nothing.
If you get a home loan:
Firstly you have the lux that you got to choose how much you want to pay monthly, depending on your salaries.
Second, you can invest in that home without any fear and you will surely be more motivated to change whatever you need to change in that home because those change will be permanent – and this will of course effect your wellness.
Last but not least, you can save more. How come? Every cent you will be giving back to your bank. I mean you will give the amount of 240.000 lekë (if your installment amount is the same as your rental fee), but that will not be rent dues, you will be investing continuously in your future.
Buying a home is the very first step to create the bases of sustainability and the bases of a healthy family. Why letting your fear and the thoughts of not making it, limiting you in creating the beginning of a better life?
Contact your bank agent and get the necessary consults, I’m sure he or she will follow your case and will do his best to protect your interests by giving you an easy financial situation.
Life shows us everyday examples of people that have started literally from scratch, with no economic wealth or without any savings and today they are still investing in properties and have become big investors.
Make it today! Make a safe and well thought step, and why not make it with BKT.
