Home Sweet Home
According to MUSIAD 2012 Reports of Economy of Turkey
, the national income per capita is $ 10,444. Compared to developed countries it does not constitute an optimistic picture sketchy. According to national income analysis of TUK (Turkish Statistics nstitute), 26.7% rate of expenditure was allocated for food and drink. On the other hand a very small proportion of 10% is furniture, home appliances, housing, water, electricity, gas and other goods and services. These rates are quite low given the chance to have residential consumers. This result shows that the vast majority of income in Turkey is spent on basic consumer goods.
A consumer with an average and with no additional income may have difficulties while owning a house or applying for credit (in Turkish kredi bavurusu). He/she may get negative response from the bank. If a consumer illustrates a monthly income of $2000, the possibility of buying home in Istanbul which is close to the center is very low. If the price of home is $100 000, the bank can give maximum $75.000 loan. Payments for a loan amount of $ 75.000 can be:
For the 60-month-term, housing loan is between $1.600 and 1.700
For the 120-month-term, housing loan is between $1.050 and 1.200
For the 240-month-term, housing loan payment is between $ 800 and 900
According to the above data, it is impossible to get mortgage loan (in Turkish konut kredisi) with a salary of $ 2,000.The loan installment should not exceed 40% of monthly income. So, how do you host under these conditions?
With your monthly income of $2,000 you can organize your credit payments with respect to your salary increase. To illustrate, you have applied for $ 75 000 loans with 180 months term payment plan then, you will pay $692.00 TL for the amount of the first installment of one year. For second year, $ 727.00, for third year, it would be $ 763. Compared to an increase in the annual salary, your payment for loan (in Turkish kredi) will also increase. With this plan, you can own your house.
Under these circumstances, isnt it good to own your house instead of paying rent to somebody? Lets compare taking out loan to paying rent. Assume that your monthly rental fee is $ 750 and you are planning to take out loan with 180-month term and $ 75 000 amounts. For the first year installment of your credit is $692.00 and $795 for second year while the minimum loan installment of rent you pay 727.00. The results show that instead of paying rent, taking out loan is much better for your future, your children etc. While you are paying for the housing loan, the value of your house rises.
During festival of Ramadan and Sacrifice you can choose to delay your credit payment for that month so that the problem of shortage of cash during these months can be overcame. During Festival periods, as you know, cost is increased. Relatives, visits, food and beverage service for the guests may seem small expenditures. However when this small costs are too much, then you may have not exactly enjoy the festival. Another option, which is the beginning of the summer semester or school in September, is delaying your loan payment. On a nice vacation or summer school expenses can meet without difficulty.
Konutkredisi.com.tr is an independent credit consulting company providing free advice and consulting services to mortgage home loan (in Turkish ev kredisi) customers in Turkey. The Company introduces discount credit products of a large number of banks and it compares interest by using calculations, answers all the questions about credit and follows credit process with its specialist staff on mortgage
Konut kredisi
Sevil Gndz
by: Konut Kredisi
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