Who would not want to live in a house of their own paying “credit installment” instead of “rent”? If possible, all tenants would not be renting today, would be paying credit taxi. However, the current interest levels and the income levels of the tenants are causing the shift of the dream of being a homeowner, such as paying rent. Moreover, some down payment is required to get a housing loan. In short, the dream of “being a home owner like renting” is taking the form of “being a home owner by adding a little more money on rent” for the time being in Turkey.
First of all, this person has to accumulate up to 25 percent (100 thousand TL) of the value of the house as loan advances. For the remaining 300 thousand TL, if we look at the appropriate loan alternatives, if we use a 10 year maturity residential loan, we will get approximately 4250 TL per month; If you are going to use a 20 year maturity mortgage, you will pay a monthly installment of TL 3450. You should pay at least TL 100 thousand for a cash deposit of at least TL 100 thousand and a loan of TL 2750 per month for a loan of 10 years if you want to buy this house. TL needs to pay. Of course, it is necessary to take into account that the loan installments will remain stable and the house price will increase with the increase of the rent amount within the years. Assuming that the rental fee will increase by 8 percent per annum for a 10-year loan, the rent to be paid at the end of 120 months is TL 3250; While the average rent to be paid during this period is approaching TL 2400. As a result, if we add the rent increase to the account, we have to pay the rent for 120 months in order to get a house equivalent to the house where the tenant is sitting. Although it is difficult to predict the change in rental price, inflation or housing value in 240 months, we can say that it is a bit closer to becoming a homeowner, as long-term rents are paid. “