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02.07.2022
Reading time: 2 minutes
Author: Sea Inside

What is more profitable: renting an apartment, buying or mortgage?

What is more profitable: renting or buying an apartment? Our advice will help you make the right choice.


Rental features

When renting a house, it is difficult to make long-term plans. Such instability and uncertainty about the future affects both finances and the quality of life.

  • The owner can raise the rate - you will have to set aside more money from income to pay for housing or look for a cheaper option. Plus, there are the hassles of moving.
  • Tenants depend on the whims of the landlord. The owner may change plans, and then you will have to move out and urgently look for new housing.
  • There is no possibility to dispose of housing at will - the tenant is forced to comply with the conditions of the owner, who can, for example, prohibit having animals.
  • The money paid for the rent goes to "nowhere" - in contrast to the mortgage, in which after a certain time after payments (even if this period is several years), an asset in the form of real estate remains.

Mortgage: pros and cons

Buying real estate with a mortgage is more expensive. However, this method has obvious advantages.

  • You pay for your housing - that is, by paying a monthly bank transfer, you thereby invest in the property (in the case of a lease, you give money that will not return to you).
  • Real estate appreciates in value over time. After 2-3 years, it can be sold more expensive and even earn on resale.
  • Buying an apartment is an opportunity to protect your savings from inflation. Savings lying in the bank "idle" may depreciate.


Pitfalls when buying an apartment in a mortgage

  • Strict financial discipline - you must be able to organize regular payments on time without delay.
  • It is necessary to have on hand the amount sufficient for the down payment. Banks determine the amount of the contribution in each case separately. As a rule, it is 10-20% of the property value and more.
  • Increased final price. Taking into account the payments of all interest on the loan, the final cost of real estate is higher than with a one-time purchase in full. When buying a house with a mortgage, sometimes you have to overpay two or even three times (although payments are stretched over several years).

To buy an apartment quickly and transparently, contact trusted companies. The Association of Developers of Georgia Sea Inside has been helping beginners and experienced foreign investors to purchase profitable real estate in Georgia for about 4 years. The Georgian banking system is quite liberal. For example, a non-resident can apply for a mortgage here. To do this, he will need a minimum of documents:

  • Identification document (passport)
  • Extract from the Civil Registry Agency (House of Justice)
  • Account in any commercial Georgian bank (you only need a passport to open)

The peculiarity of mortgages in Georgia is that a number of banks do not require proof of income. Interest rates on average - from 8% per annum in dollars and from 6% per annum in euros. An alternative to a bank mortgage loan can be the so-called. internal, or interest-free installment.

Sea ​​inside. The best real estate in Georgia. Buying an apartment quickly and transparently.
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