Being for some people the most important expense when entering work life, finding a home requires good planning in which several aspects are considered such as: type of work, age, future plans, priorities and Lifestyle.
The decision of a purchase or a rental, and the way in which they face the process will largely depend on these factors.
Experts recommend, in the case of those who want to make a purchase, that they plan it from the moment they start working formally.
This is the time when your finances stabilize by not having a lot of debt involved, your financial commitments can be met with income and it is very likely that you will have considerable savings.
In this sense, the suggested age to buy the first home is between 25 and 35 years old, doing so in this period allows the worker to be in a position to acquire a second home before the age of 50.
Taking into account this trend is not surprising that the minimum age for a bank or financial institution has an authorized mortgage, ronde between 18 and 25 years.
Although these data are backed by specialists in the real estate sector, they are based mainly on the consumption habits of workers belonging to the Baby Boomers generation.
This generation ranges from 46 to 64 years old and those who value more the security reflected in the acquisition of a home, before renting it.
They conceive in this investment the search to increase a patrimony that represents greater stability. Their main argument against renting is that the capital that is used to pay rent is wasted without generating a right to the property.
Although with a more flexible behavior, the members of Generation X, with an average age between 34 and 45 years, also give preference to the purchase of a house although they give an opportunity to rent.
The idea is that the property is part of a mixed-use development or planned community that provides them with housing, offices, hospitals, clinics, shopping centers and entertainment in the same space while improving their quality of life.
You may also be interested in reading: ” Find out how your salary and external income count for your mortgage credit “
In an opposite situation, today the preference for buying has been transformed with the consumption habits of the new generations, which are forcing all industries to evolve in their products and services.
In the case of the real estate sector, the priorities of the so-called “Millennial generation”, people between 22 and 35 years of age, are diverting the traditional course of purchase towards the land of rent.
Its constant movement and its resistance to rooting create a preference to focus its expenses on other matters rather than on property.
When talking about this group it is important to keep in mind that they currently represent the greatest economic force, so their habits undoubtedly create a strong trend that does not necessarily see investments as a way to generate fast returns.
Young Millennials who choose to buy a home do so for something small, be it a house or an apartment with the idea of investing in it, enjoying it for a while and then selling it to ask for a new mortgage loan and raise enough for better housing.
Among your options are the most environmentally friendly properties.
They are a generation more committed to the world and their health, so they also look for spaces that are urban, to be close to the gym, or with certain amenities included in the housing development to take care of their health.
Although they are part of a generational trend, each case is different so the rent and the application for housing loans are open to all workers.
In this case, they can be formal or independent with non-verifiable and stable expenses, as in the case of ION, which is presented as an alternative to the strict requirements that characterize some banks or financial institutions.