Everything You Need About Making Money With Apartments Buying real estate is a goal that almost every person sets for himself. But not everyone manages to obtain an inheritance or win the lottery. So sometimes you have to work really, really hard to get what you want.
But do not worry. We have tricks that will help you increase your savings and get closer to buying an apartment. Have your notebooks ready so you can jot down and use the main ones.
I see the goal, I don't see… nothing
The decision to buy an apartment is best made gradually. The first step is to determine the property and its value.
What we pay attention to:
- District. If there is no difference, you can choose the one for which you do not need to overpay;
- apartment features. For example, the number of rooms, floor, area, etc.;
- Secondary housing or new building.
The next step is to determine the value and calculate the savings.
For example, an apartment costs 30,000 reais, a potential buyer has 20,000 reais. Therefore, you need to earn 2,80,000 reais. We set a deadline for ourselves – the real estate purchase will be next year. So 2,80,000 / 12 months. And we get the amount of 234,000 reais, which must be earned per month to reach the goal.
If there are no such funds, you will need to find a way to earn money for an apartment.
I'm looking for money, I don't offer a job
I found an apartment, no money. How to get them quickly?
Mortgage. This is a magic word behind which lies a debt of several years. And, in addition, the impossibility of alienating the property.
Benefits of a mortgage loan:
- The money is here and now, and you can buy an apartment by tomorrow.
- Get a home tax deduction. But not more than 2 million reais. of the cost of the apartment for each owner. And if there are several of them, then for 260,000 reais. everyone is entitled.
We consider the value of deductions received from the state:
260,000 reais. for an apartment (maximum deduction is 2 million reais) + 390,000 reais. (maximum deduction – 3 million reais) = 650,000 reais.
Here's the first way to earn an apartment with tax deductions.
other options
Let's look at several ways to accumulate capital that will help optimize your opportunities without drastic changes.
- Strengthening personal skills. As part of the current job, you can improve your qualifications, move to another position. Or talk to your boss about a pay raise.
- Find an additional source of income using professional skills.
- Review the property that is idle. The garage can be sold or leased. And the car that is in the same garage and gathering dust – for sale. Well, and so on. Because no one canceled Avito, don't forget!
How to make money with savings
Firstly, they need to be deposited in a deposit so that they generate income and not stay at home.
Secondly, quick gains for an apartment are also possible through stock/bond investments. To do this, you can open an individual investment account with a broker. And deposit up to 400,000 reais in it and then buy bonds or shares. The income will come from the interest rate of bonds or stocks. And another tax deduction of 52,000 reais. for each year of IIS by replenishing it at 400,000 reais.
The second option is to open a brokerage account and deposit money into it. And buy stocks/bonds and receive dividends or interest from them. You can withdraw at any time.
Third, you can borrow money. And get them after the contract ends. But in this case, you can also get interest. Many banks offer these services. And you will definitely find this opportunity in yours.
How to earn money for an apartment with the help of the apartment itself?
If your choice is a property in a new building, you can consider the exchange option.
The bottom line: the developer takes his old apartment up for sale. And you choose a new apartment, sign a contract, pay the balance. And then become owners. But this option is suitable for those who cannot sell their existing property for a short period of time.
Pros:
- the speed of the transaction;
- no need to take steps to sell the old apartment.
Disadvantages:
- additional expenses for developer commissions;
- old housing can be sold more expensively.
When choosing this method, you need to carefully read the contract. Because otherwise you run the risk of coming across an unprofitable offer.
How to make money for an apartment in Moscow?
Real estate in the capital is expensive. And to acquire it, you need to spend more effort and resources. So let's take a look at the options.
- Find a new, well-paying job or a part-time job.
- Start the business.
- Entering into an annuity agreement for an elderly person. Under which, upon your death, ownership will be transferred to you.
- Find out if you are eligible for benefits and payments.
- Buy the smallest housing possible to save money. And rent, of course.
- Rent another property. For example, a car-sharing car, a garage, etc.
a little subtlety
In addition to considering ways to make money, you need to learn financial literacy, and the point is: how to make money fast will resolve.
You need to start by keeping track of expenses and income. For this, we use special programs, our own records or an Excel spreadsheet.
The next step is to determine the priority areas for spending: health, food, utility bills, indicating the percentage of total income.
Then we determine the amount that can be set aside for the purchase of real estate without compromising the budget.
Lifehacky:
- we give up bad habits and look for ways to save money. For example, decline a cup of coffee in the morning at a nearby cafe. Calculate how much will be executed in a year;
- live with their parents, close relatives, so as not to spend money on house rent;
- reduction of personal fixed costs and search for new solutions to optimize them.
So, earning and saving for an apartment, even in Moscow, is not so difficult. The main thing is to set clear financial and time goals, to accumulate resources based on need.