There is no difference in terms of payment for buying a house. They all pay the down payment directly and sign the contract. Of course, you have enough money to buy it in full at one time.

There are three payment methods for buying a house. Let's see:

The first type: full payment.

The so-called one-time payment means that both parties pay 95% of the house price within a certain period after signing the house sales contract, and the remaining 5% is paid when the house is delivered.

Benefits: You can get the ownership of the house in the first time by paying off all the house price at one time. The operation method is simple and convenient, and you can get a discount of 2%-5% from the seller.

Disadvantages: paying the full amount in one lump sum will increase the risk of buying a house. In case the project is delayed or even unfinished, our house payment may be gone.

The second type: installment payment

Generally, after the down payment is paid, it will be paid according to the progress of the project, and the full house price will be paid after the house is handed over.

The third type: bank mortgage

The payment method is to pay the bank every month as agreed.

Broadly speaking, the second and third types can be collectively referred to as installment payment, and the difference is that the time for ending payment is different. The second is that the delivery and payment are completed at the same time, and the third is that the delivery is in front and the payment is completed later.

Benefits: reduce the risk of buying a house, ease the pressure of one-time payment, and let the owners with insufficient funds afford to buy a house.

Disadvantages: Because the interest of installment payment is determined by the payment time, the longer the payment time, the higher the interest rate, so the sum of the house payment will be much higher than the one-time payment.