, one is to buy the house in full, the other is to pay a certain down payment ratio and then apply for a mortgage loan.
As for which one is better to buy a house with full payment or with a mortgage loan, there is no absolute answer, the key depends on your conditions.
Buying a house with full payment and buying a house with a mortgage loan have their own advantages and disadvantages. For example, the property market in many places is not very prosperous at present. There may be a big discount for buying a house with full payment. In addition, buying a house with full payment does not need to bear high interest, but it is a one-time payment. Paying the full amount, not everyone can do it.
Although the mortgage loan has to bear high interest, if the loan is 30 years or even the interest is as much as the principal, but one advantage is that everyone can pay slowly every month, which can reduce the pressure, even if everyone does not have enough funds to fully You can buy a house with money, but as long as you pay a certain percentage of the down payment, you can move into the house in advance and enjoy the benefits of the house in advance.
is also because of the advantages and disadvantages of buying a house with full payment and a mortgage loan. Therefore, for those who can afford to buy a house with full payment, many people may have doubts when buying a house, and some people are even doing a calculation problem, 10 Who would be better off buying a house in full after 2018 or buying a house with a mortgage?
In response to this problem, many people may simply use the total value of the house price minus the cost of buying a house to get a rate of return.
For example, a house is now 1 million yuan, and it will become 1.5 million yuan in 10 years. If it is a full-payment purchase of a house, the overall rate of return is 50%; if
is a loan, it is calculated at an annualized interest rate of 4.5%, with a term of 30 years, equal principal and interest Repayment, after 10 years, the remaining principal is 800,000, plus a down payment of 300,000, and then many people take it for granted that they have made a net profit of 400,000, and the rate of return is as high as 130%.
But a cost that many people tend to ignore is the monthly payment. The total monthly payment for 10 years is about 608,000. After deducting this monthly payment, in fact, this suite will lose 200,000 yuan. , if the house price does not rise or The gains are relatively small, and the losses will be larger. Of course,
is just taking a simple example. When calculating whether it is more cost-effective to buy a house with full payment or a loan, in addition to the cost of buying the house itself, also needs to fully consider the potential opportunity benefits and opportunity costs. final conclusion.
The so-called opportunity cost is the potential return of this money if it is not used to buy a house, but used to make other investments.
For the convenience of reference, we assume that a person has 1 million cash now, and his monthly income is 10,000 yuan, and his future income will increase at a rate of 3% per year.
now has two options when he buys a house:
's first option, buying the house in full.
buys a house with the full amount, which means that all 1 million is used to buy a house, and there is no need to face the monthly payment burden in the future, and the annual income for the next 10 years can be used for investment and financial management.
does not consider living expenses or other conditions of consumption, if the monthly income is 10,000 yuan, it will grow at a rate of 3% per year in the future, and all the annual wages will be invested in financial management. If the annualized rate of return reaches 5 %, after 10 years, his cash on hand will become about 1.8 million.
The second option is to apply for a mortgage loan.
chooses a mortgage loan, takes 300,000 out of 1 million as a down payment, and then pays a monthly payment of 123,212 yuan every year in the future. These monthly payments can be deducted from the monthly salary. After deducting the monthly payment, the remaining money will continue to be used for investment. Financial management, after 10 years, the remaining income from wages alone is about 160,000.
also has the remaining 700,000 of the 1 million funds that can be used for investment and wealth management. Calculated according to the annualized rate of return of 5%, through compound interest investment, the 700,000 will become about 1.14 million after 10 years.
adds up the above two parts, after 10 years of mortgage loan, the funds on hand are about 1.3 million.
Through a simple comparison, it can be clearly found that if you have 1 million on hand and your future income is relatively stable, then buying a house with full payment is obviously more cost-effective than buying a house with a loan. After all, buying a house with full payment does not need to pay a large amount of interest to the bank.
also bought a houseIn the process, in addition to cost, pressure must also be considered.
If you have the ability to buy a house in full, you can pay in full at once, you don't have to worry about the monthly payment in the future, even if you lose your job and have no income in the future, you don't have to worry about not getting a bank loan and affecting your credit.
and repaying the mortgage loan have to worry about whether it will be overdue every month, worry that there may be unemployment at any time and the loan will not be paid, which will affect your credit and so on.
Therefore, from the point of view of pressure, the pressure of buying a house with full payment is far less than the pressure of buying a house with a mortgage loan.
After synthesizing various factors, if you have the ability to buy a house with full payment, it is definitely the best choice. If you really can't afford to buy a house with full payment, getting a mortgage loan is the second choice; but if you want to save enough down payment to buy a house, it is not A wise choice.
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