Buying a house or apartment to make a home is at the top of the dreams of all families. After the emotion before the possibility, it is necessary to analyze several aspects in a prudent and balanced way.  the market offers increasingly flexible and competitive products, a credit of this type means a long-term relationship -which can last up to 20 years-, therefore when selecting a loan for the acquisition of real estate, you must take consider various elements. Below are some Real Estate Market basic ones if you are looking to consolidate your dream.

Save before

 Before applying for a mortgage loan, check how much your savings amount to, since you will have to cover a series of initial expenses that the credit does not absorb. You must save at least 10% to 30% of the total value of the property you want to acquire. If you make the habit of prior saving, you will need less mortgage credit.

Inflation to mortgages

The impact is indirect, because housing prices -in their different segments-, have been increasing their price consistently, so year after year a greater amount of credit is required to acquire a similar property.

Insurance for the new home

Life insurance protects your family by liquidating the current balance of the credit.Insurance against damages. Protects the value of the property against loss or damage to property including fire, lightning, explosion, earthquake, volcanic eruption, hurricane, flood, storm surge or tree fall, also protecting contents that could be damaged by these incidents. Normally life insurance is obligatory as part of the mortgage credit that is acquired and are included in the monthly payment.

By:  Shailaja K