After the collapse of the last few years, it seems that the real estate market is finally recovering. Buying a house is one of the goals of many Italians, but it is often not possible to pay in a single solution. Therefore, we usually prefer to use mortgages, which however are not within everyone’s reach. Fortunately, it is possible to take other paths, including that of targeted loans, real estate leasing and rent to buy.
The finalized loan does not require all the guarantees and documentation necessary for the mortgage. This means that it is faster and more affordable for more people. The problem in this case is that it can be used to cover only part of the expense, or to purchase inexpensive homes. The maximum amount obtainable with a finalized loan of this type is 50,000 dollars. It will be fine for a studio apartment in not too urbanized areas, but not for much else. We also keep in mind that the interest rates of the finalized loans tend to be higher than those of the mortgages. You have to carefully evaluate pros and cons based on your needs and possibilities.
Another possible solution is real estate leasing
In this case it is the bank that buys the property, and allows the customer to use it, under certain conditions. We will enter into an 8-year contract, during which we will pay a substantial monthly fee, higher than that of a normal rent. After 8 years we can decide whether to renew the lease, pay the difference and buy the property, or cancel the contract.
More interesting is perhaps the rent to buy, a rental contract where the user reserves the right to purchase the property in the future. You will have to pay a higher monthly fee than a standard rent, between 10% and 50% more expensive. This creates a deposit with which to eventually purchase the home. Not unimportant advantage is that all taxes remain the responsibility of the owner until the transaction is actually completed. This means that we will not pay IMU or extra taxes, but only a salary rent than usual.