Which is more cost-effective to buy a house in full or borrow money to buy a house?
1, economic pressure
Buying a house in full requires buyers to take out all the purchase money at one time, which is not something that ordinary families can do. Most people's families have to bear great pressure and work very hard in the early stage in order to collect the money. But in the later life, you don't have to bear the pressure of loan, and you don't have to calculate every living expense every day, for fear that you won't be able to pay the loan at the end of the month, so you can arrange all your future plans calmly.
Buying a house with a loan means borrowing money from the bank. You only need to prepare a small part of the house payment as a down payment, and the rest will be paid by the bank for you, so the pressure in the early stage is relatively small. But it is not easy for anyone to bear the debt in the future. You may need to calculate your living expenses every day to ensure that every expense is not overspent, and you can't buy what you want at will.
2. The risk of buying a house
The risk of buying a house by loan is also relatively small, because mortgage loans are loans from banks to buy a house. In addition to buyers concerned about the quality of the house, the bank will also review it, so that the insurance for buying a house will be improved. As far as most auction properties are concerned, buyers who choose one-time payment will increase the risk of buying a house.
There is no bank participation in buying a house in full, and real estate assessment relies entirely on the buyers themselves. If buyers don't know much about this, it is easy to buy a house that is easy to depreciate. In addition, if you choose one-time payment, each building will require buyers to pay the full house price in the pre-sale stage and sign a commercial housing sales contract. However, in the transaction process, many pre-sale properties have the problem of incomplete five certificates. Although the salesperson promised to complete the formalities within a certain period of time, it is too risky for the buyers.
3. Houses for sale
Buying a house by loan is based on the property itself, and the general loan time is about 20 years, which is not conducive to buyers selling houses. It is more convenient to resell a house bought in full, and it is not bound by bank loans. Once the house price rises, it will change hands quickly and sell easily. Even if you don't want to sell, you can mortgage your house to the bank and get a loan with low interest rate and high amount when you need a lot of liquidity.
4. The process of buying a house
If you buy a house in full, you can sign a contract directly with the developer. There is no need to go through the complicated process of bank loans, provide complicated materials such as income certificates, and avoid bank mortgage fees such as mortgage registration and insurance fees.
Step 5 fight inflation
In the long run, inflation is the general trend, and money will become less and less valuable. You pay 5,000 yuan a month now, and in 20 years, you may only be able to buy things from 50 yuan. Using future money to consume present things can not only effectively fight inflation, but also enhance asset value in disguise.
Can I withdraw the provident fund if I buy a house in full?
You can withdraw the provident fund if you buy a house in full. The state has clear legal provisions on the withdrawal of provident fund, among which the permitted circumstances are buying, building self-occupied housing or repaying housing loans. Therefore, the full purchase of housing can use the provident fund.
Article 24 of the Regulations on the Management of Housing Provident Fund
In any of the following circumstances, employees may withdraw the storage balance in the employee housing provident fund account:
(a) the purchase, construction, renovation and overhaul of owner-occupied housing;
(2) retirement;
(three) completely lose the ability to work, and terminate the labor relationship with the unit;
(4) Having left the country to settle down;
(5) Repaying the principal and interest of the house purchase loan;
(six) the rent exceeds the prescribed proportion of family wage income.
In accordance with the provisions of items (2), (3) and (4) of the preceding paragraph, the employee housing provident fund account shall be cancelled at the same time.
If an employee dies or is declared dead, the employee's heirs and legatees may withdraw the storage balance in the employee's housing provident fund account; If there is no heir or legatee, the storage balance in the employee housing provident fund account shall be included in the value-added income of the housing provident fund.
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