Bucharest rent - How you can buy an apartment for the price of the rent
Many of us have faced this dilemma at least once in our lives: live with rent or buy your own house. Of course, each of these options has its own advantages and disadvantages, which largely depend on the profile of the person making this choice. Moreover, this decision also depends on the context of inflation and rising housing prices and rents, but in the end it all narrows down to the financial possibilities of each person, but also to their beliefs and habits.
In fact, although the results of a recent study show that 84% of Romanians prefer to be owners, despite inflation and the increase in interest rates on loans, there are many people who choose to live in a rented house. They have active lifestyles, haven’t yet decided on the area they resonate with, and don’t yet want to make a long-term decision to become homeowners. In addition, the fact that they live in rented accommodation in Bucharest gives them a sense of freedom, always having the possibility to move elsewhere if along the way there are inconveniences or changes related to the proximity of the workplace or other centers of interest in the city.
On the other hand, there are also many young Romanians who borrow the model of certain European countries, such as Germany or France, where at the governmental level this practice is supported, the laws being even favorable for those who rent. However, if you are in the category of those who rent and you are the owner of a building and you want to give it for rent, take care to prepare all the formalities related to the registration and taxation of income from rents.
Aspects to take into account when moving from Bucharest rent to your own home
First of all, from a financial point of view, the decision to purchase a house is foremost an emotional one, because it comes at a time when you feel the need for stability, for a space that you can arrange as you like. If you’ve lived in a rental until now, you know that you don’t have that feeling of complete freedom over the arrangement of the space. And as long as you don’t mind that, then renting is a viable option for you.
Coming back, if you have decided to buy a house, you need to take into account the price of the houses for sale and compare it with the price of the rent you have paid so far. An average rent in Bucharest is around 450 euros per month. Moreover, the purchase of a home with a bank loan involves a series of costs that you must take into account: the deposit from own sources necessary for granting the loan, installments, insurance policies, bank and Guarantee Fund commission, property valuation, real estate agent commission, notary fees, property tax, working capital, property management fees and expenses. Some of them will be paid only once, and others, such as the installment and interest (monthly), the home insurance policy will be paid periodically.
However, although the costs involved in the purchase of a house may seem high and you need to prepare ahead of time for this investment, the cost of a rent will remain an expense with no long-term effect, as is the case with a mortgage loan (accessed for buying a house). You pay for the place you stay, but it doesn’t become yours after a period of time, where your investment amortizes. Practically, with an installment approximately equal to the monthly amount you pay for Bucharest rent, as a tenant you will feel more attracted to choose to pay for a personal home, thus giving a good final utility to your money.
Housing or rent Bucharest in neighborhoods that bring joy into life
In the h4l neighborhoods designed in 5 key areas of the capital, you have the opportunity to purchase the house or apartment that suits you, both in cash and through a mortgage loan. The prices are correctly related to the quality of the materials used in design and construction, h4l homes offering the opportunity of a healthy urban life, with a focus on simplicity and minimalism, in a sustainable and innovative vision. Neighborhoods offer many opportunities to spend time in nature, in a safe, green environment, where community members have many opportunities to meet and socialize. The constructions are focused on efficiency of consumption, optimal orientation in space, windows with generous glazing (for natural light throughout the day), brick walls thermally insulated with basalt wool, ventilated facade and district central heating contributing up to 40% to costs lower than average.
In other words, if you are interested in an investment that will also bring you a passive income from rents, the h4l team also provides an easy and transparent rent management service, so you don’t have to worry, your property will be in your hands good!
Regardless of the option you choose – rent or purchase – make it your own, depending on your lifestyle, your wishes, possibilities and needs.
This article also exists in Romanian here – Chirie București – Cum poți cumpăra un apartament cu prețul chiriei