Buy, buy, and buy! That word can’t seem to leave your mouth lately? A first flat purchase seems so hard today! Between all real estate loans that have obscure names and sellers who ask you to justify every aspect of your life… It’s just too complicated to find the right flat for sale. How to buy your first apartment when you are young? Here we try to enlighten you…
What is the average age to make your first flat purchase?
A study published by the crowd funding company « Become a Homeowner » locates the average age of the purchase of the first property around 38 years. It’s late, isn’t it? To say that, between the twenties and thirties, you don’t have enough stability would be really too reductive. In reality, young people do not necessarily have the chance to have a sufficient contribution. Banks, meanwhile, are cautious. And then, there are those who prefer to buy a property for two.
What are the criteria to get a mortgage when you are young?
A stable financial situation
Your bank wants to make sure you have the financial means to pay over time. She wants you to justify at least one year of permanent service in your company, or three years of assessment for those in the liberal profession.
Healthy financial behavior
Your « end-of-the-month pasta » (to avoid going red) should be rewarded! Banks look at how you manage your money to be certain that you will not use theirs anyhow. Obviously, an overdraft once in a while never stopped anyone from getting a loan! On the other hand, a subscription to an online gaming company and many overdrafts, try not to!
The financial contribution is a guarantee on your ability to save and spending your money smart! It should be the priority anyway!
Is there help to make your first purchase?
Among the best known is the zero-rate loan (PTZ), which operates under a « new » purchase. The Social Accession Loan (PAS), for its part, allows people with modest incomes to acquire property. Finally, for those who find themselves facing very cautious banks, the « rental acquisition » can be a good way to make the situation better. What’s the idea behind this? The owner proposes to sell a property from a given period. Meanwhile, the « renter purchaser » will have the right to live on the premises for a rent.