What will the apartment savings be enough for? – Loans

Nowadays, saving for a home has become very popular not only for home loans, but also for the achievement of our future home purpose. We have examined what this saved amount is

at maturity. What we can use for how much we can manage at the end of the savings.

If we can pay for two $ 20,000 contracts for 10 years

We will have enough money to buy an average home at the end of the savings, along with state support and interest. LTP has a wide range of applications, and can be used for almost anything within a home!

It is very popular that 30% per year, which is max. $ 72,000 per contract – comes as state subsidy to our annual savings. Let’s look at the same with numbers in an example.

Looking at an average home savings, we count on a monthly saving of HUF 20,000. State aid, which is added every year in the form of interest, together with capital, will surely make us a millionaire within 4 to 10 years, but let’s just look at it specifically.

  • After 4 years, HUF 1,250,000,
  • After 10 years we can spend HUF 3.100.000 on housing.

What is the amount for a housing project if we are renovating or buying

What is the amount for a housing project if we are renovating or buying

The sample apartment we would buy is 50 m2, where the average m2 prices in the capital is 500 thousand HUF / sqm, in our rural towns half of it is 250 thousand HUF / sqm.

  • When renovating, we can take 1.5% of the apartment value. This translates to HUF 1-2 million, regardless of location.

The smaller the renovation work, the faster the money will come together. If we look at Budapest, our savings come together in 6 years.

Renovation Shopping

Time amount (Ft) Budapest National Budapest National

4years 1,250,496 66% 139% 5% 10%

6years 1.877.620 99% 209% 7.5% 15%

10years 3,135,630 165% 348% 12.5% ​​25.1%

The average price of a 50 sqm flat in Budapest is HUF 25,000,000 and in the countryside HUF 12.5 million.

Renovation value: 1.5% of the value of the apartment per year, 7.5% every 6 years, up to 0.9% to -1.9%.

When buying a home with one piece of home savings

After 10 years only 12.5% ​​of the Budapest apartment and 25% of the rural apartment can accumulate the savings. With this variation, there is no need to fear a rise in the price of a home. If you would like to collect a lot of money from LTP, we have two options:

We do not contract one, but several contracts in the name of our family members, which we will use for our own residential purposes.

During the term of the contract or at the end of the term, we may use the credit or the bridging loan. This amount almost doubles the amount of money we have available. In the case of pre-maturity loans, we can think of bridging loans, which naturally have a higher interest rate on loans taken after maturity.

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