How can I buy two houses in half a year without even a dime in deposit?
“Buying a house” has undoubtedly become the hottest topic in the market recently. The topic of family dinners is also inseparable from "the housing prices in a certain city increased by 10,000 yuan per square meter the next day." When I go out and say hello to friends, the original "Have you eaten?" turns into, "Which community did you buy?".
I am born in the 1980s, and the pressure of "buying a house" has gradually developed. Fortunately, I have been paying attention to the development of the real estate market since 2013. Therefore, between February and August this year, I decisively purchased two properties, which was the first step in realizing my wealth goal.
My goal is very small, just three houses. A school district house - for children to go to school, with an area of about 50 square meters, and can be sold immediately after the quota is used up; a comfortable large three-bedroom house with convenient transportation, good living environment, good humanities, and good neighborliness Harmony; a sea view room is used for viewing and as an improvement point for the quality of life. The first two goals have been achieved, and the third goal is waiting for the right time in the housing market.
How to realize your home purchase plan? People who always say they have no money must not be able to buy a house. People who are either afraid that they cannot afford the mortgage or are afraid that the down payment is too high are not suitable for buying a house. The best opportunities are always missed.
When is a good time to buy a house? To sum up, first, the housing market is good and the loan policy is loose. Second, with the housing market stable, financial products are abundant and loan (borrowing) channels are diversified.
Because I am in Xiamen, I will talk about my experience and operation methods of paying attention to the property market in 2013.
The housing market is inseparable from government planning and the regional development environment. For example, Xiamen and Quanzhou are only an hour's drive away, but the price difference is 7 to 8 times. In Xiamen as a whole, the planning of each district is different. Because of financial reasons, "picking up leaks" is my best choice.
In 2013, housing prices in Xiamen were generally over 15,000 yuan on the island, and 30,000 yuan in higher-quality residential areas. Houses outside the island cost about 10,000 in Xiang'an area, and there are many new properties. At that time, when a new real estate project was launched, the price of a 26-story high-rise building was 9,800 yuan per square meter. As a foreign resident and a first-time house owner, I can get a 30% discount on the interest rate. The down payment is more than 300,000 yuan, and the monthly payment is more than 5,000 yuan. But when I was working as an administrator, my salary was only 4,500 yuan. My boyfriend (who later became my husband) was not married and didn’t have a particularly strong desire to buy a house, so he put the purchase on hold this time. As a result, in February 2016, the price of the house we looked at at that time increased by more than 20,000 yuan per square meter. In August, it was more than 30,000 yuan per square meter. Because of this failed home purchase experience, the family has a new understanding of the housing market.
In January 2016, my wife and I went to Hangzhou for more than a month, intending to take root in Hangzhou. This means that our house in Xiamen needs to be rented out (after getting married, I learned that my wife has a house in Xiamen with an area of 90 square meters and a bank loan of 260,000 yuan left), and then rent a house in Hangzhou. Once I went to Hangzhou, I spent 2 weeks shopping around all the real estate and second-hand houses around Xiasha, and got a rough idea of the surrounding property prices. Real estate properties in Xiasha basically did not appreciate in value during 2015, and the average house price was also around 17,000. Originally we planned to sell the house in Xiamen and buy a house in Hangzhou, but my wife was really reluctant to part with it. After discussion, we gave up the idea of taking root in Hangzhou and decided to return to Xiamen. On the way back to Xiamen, we discussed in the car that in 2015, the increase in housing prices was not very large, indicating that the economic situation was not good, and the real economy was also shrinking. The financial industry performed well in 2015. This The time was right for us to replace our property. So we decided that we must buy a house when we come back. The question that needs to be resolved is, which area should I buy a house in? How much is the down payment? How much is the mortgage?
We made the decision to buy a house on February 20th, and I started looking at houses on February 21st. I looked at no less than 20 houses every day.
From the perspective of down payment, we hope it will be around 700,000 to 800,000, with taxes and fees not exceeding 1 million. At the same time, we also hope to move in as soon as possible, so our requirements for the agent are very clear: 1. Only look at second-hand houses with simple decoration - basic hard decoration, and the soft decoration style can be adjusted by yourself. 2. Only look at properties in the Xiang'an area, which is close to the tunnel entrance and the company. 3. The down payment cannot exceed 800,000. In this way, we basically frame the range of houses we can buy.
Regarding the issue of down payment, since Xiamen’s consumer loan and decoration loan policies were relatively loose at the time, we could get an appraisal loan if we had a house, so we found a way to borrow 200,000 from relatives and friends for a period of time. One month later, I paid the balance of the first house and took out a mortgage of 1 million yuan.
On February 27, we finally settled on a nice-sized house, about 120 square meters, with a total price of 1.9 million, a down payment of 740,000 yuan, and a mortgage of 6,300 yuan. So we signed the agreement the next day, then went to the bank and the property rights bureau. It took more than a month and the house was successfully handed over. At this time, our consumer loan and housing loan pressure is 12,000 per month. A basic salary income of RMB 15,000 alone can cover this expense. I personally disagree with some financial management articles that say that the mortgage loan should not exceed 30% of the income. Because your wages will rise, the currency will depreciate, and housing prices will rise. This year your mortgage is 10,000, and the proportion of expenses is 50, but next year, the proportion may only become 30. Besides, you will still have a family, right?
Many people will say that when buying a house, you must look carefully and take your time. I definitely disagree with this. You can read as much as you want, but you have to focus on it. Buying or changing a house may just be a temporary emotion. You have to love your house, and when you change it, help it find a good owner. The owner of the house you want to buy must also take good care of it before buying it. Even in the same high-priced community, some houses have bad feng shui and are still expensive but not marketable, making it difficult to sell them quickly.
Because the first house is not in a school district, and the pressure of consumer loans is also there, my wife and I decided to change to a house in the school district on the island, because we have a loan of 1 million, even if the house is sold Finally, only about 2 million were left. We are buying a second house, so we need a down payment of 60%. Based on this ratio, we can only buy a house in a school district worth between 3 million and 4 million. The unit price of houses in mature school districts is around 60,000 per square meter. The market has been crazy for a while. Therefore, if you follow the operation of the first house to change the house, the inherent risk factor is extremely high. This is our prediction of the real estate market. Therefore, we decided to adopt a prudent and excessive approach to operate.
Based on this consideration, I targeted school district housing in the eastern and northern parts of Wuyuanwan, Fanghu, and Guanyinshan areas. The school district here is relatively new, and the current value of the school district has not yet been fully explored. So after viewing no less than 50 second-hand houses, we booked a house near Wuyuanwan Experimental Primary School (a primary school directly under Xiamen City). Area 45 square meters. The down payment plus tax is 2 million. The shared area of this house is small, the utilization rate is high, and the floor is considered high-rise. For the same type of house in the same community, because there are currently no study places, the price is nearly 300,000 yuan cheaper. In other words, this suite itself has a premium of nearly 300,000 yuan.
From selling a house to buying a house, it only took us two days, so as to avoid the devaluation of currency in our hands, and buying a house in a school district is a way to preserve the value of assets, especially for small apartments. Houses in school districts change hands relatively quickly.
After we signed the contract, Xiamen’s purchase restriction policy came out within a week. Therefore, you need to buy and change houses quickly, otherwise you will not be able to keep up with changes in the market and policies.
On the contrary, my point of view is that the purchase limit is a good time for those who are qualified to buy. Therefore, at this time, when you see a suitable house, you have to make a move, otherwise you will have to buy it again three years later.