A lot of couple think that they should follow the settling down – getting married – buying a house and having a baby process. However, it takes time to get a place to live that way
And it even takes more time to have enough saving to buy a house without a debit. Therefore, if you want a house, just go for it.
Accept the imperfect house
Everyone wants a house that is near the center, large and beautiful. However, if it’s your only target, you will have to live in a rented house to save money for a very long time. Just accept that your first house might not be the one in your dream. It may be a bit old or not very big but you can totally fix, redecorate or rearrange it. Spend a little of time and energy and your house will look much better. If the house is too far from the center, don’t mind it. You’re still young and can easily travel a long distance. Be patient and you’ll be acquainted with the situation. Following a livable house seems more realistic than following a dream house. It will come to you when you have enough money.
Ms. Nguyen Minh Tuyet and her husband moved HCMC after getting married. After 2 years of renting houses with monthly rental counted for half of her salary, the couple found a 65 m2 apartment in An Phu, Binh Chanh (District 2, HCMC). As this apartment was built for resettlement, payment was very flexible and in accordance with their budget. They just had to pay 700 million in advance and the remaining 400 million would be paid in installments in 10 years with low interest rate. Even though such transactions were a little risky because all the documents would still under the old owner’s name until the payment was completed, Ms. Tuyet was still satisfied. “We’re happy with our new house even if it’s not too large and the way home is very dark, rural-like with paddies on both sides”, she said.
Don’t just count on the agents and real estate broker companies. You can find a cheap house yourself. They can be houses bought for speculation but not profitable so the owners must sell them off to recover their capital. In other case, houses can be pledged as the owners loose a gamble and need to sell them urgently to take money for other purposes. Keep looking around, ask your acquaintances, see the leaflets on the road, and browse the internet, ect. A popular tip that a lot of people are telling each other is to connect with the bank. A lot of houses are being foreclosed with extremely low prices.
Ms. Thanh Mai (HCMC) is very patient in finding a house. For a long time she has looked everywhere in Sai Gon to find information. Finally she found an uncertified house with an area of 49 m2 and charged at 550 million in Binh Quoi. It was kind of hard on her to complete all the documents after buying a house, but she and her child have got a pretty house.
Take the moment and opportunity
Real estate market in Vietnam is among the most unstable ones. Prices are often blown up by speculation and virtual demand. Therefore, you need to be a wise customer to avoid the trap.
The currently frozen market may put many tycoons in difficulty, but also give chances to low income people to buy a house at low price and suitable with young people’s characteristics. The older the age is, the more careful people are. However, even reckless people will need to take things into account and avoid too risky situation.
Young married couples are often supported by families and friends, so don’t mind asking them for help.
Mr. Linh has got married for nearly a year. He didn’t mean to buy a house in the first place, however; knowing that 6 apartments in Phu Mi Thuan Condominium were being sold off as the owner needed to recover the capital after a long time unprofitable; he decided to jump on this chance. The only problem was to gather 800 million to pay in one time as the apartments are already completed. After 3 weeks asking families and friends to get small loans of 10 – 20 million, in addition to the saving, they got enough money to pay for the house.
Now they are comfortable with their 95 m2 apartment. The no interest loan is divided and paid every month.