Tips to reduce the burden of your mortgage

The payment of a home loan is usually one of the most important expenses within our family budget and the one acquired in the longer term. That is why it is important to try to pay that debt as soon as possible, to reduce long-term interest.

Currently, most people spend up to 47% of their income to pay the mortgage, which is a bad decision for their personal finances. Why not try sharing your home with a roomie or a tenant? With this option, you can invest between 25% and 35%. Here we give you 4 advantages of sharing your home.

 

1. You save time

1. You save time

You can do household chores more easily and quickly. What two hands can do in a certain time, four or more do in a much smaller one. Organizing, taking turns, or distributing each of the responsibilities will bring you more benefits than you imagine.

 

2. You learn to live together

Another benefit of sharing a home is personal growth, and we all know that living with someone is not always easy. But think that you will learn other customs, tastes and even whims of other people. Of course, self-criticism is part of this process, as one also has its details. This is a challenge that will really make you mature!

 

3. Share the expenses

Share the expenses

When we share the home with someone, many of the expenses are shared, such as the monthly payment of your mortgage loan, rent, maintenance and security of the home and others such as water, electricity and gas. This is the main benefit of having a partner. Do the accounts, you will see that your expenses will go down a lot, check it out!

 

4. You form a new friendship

Sharing your house with a roomie or tenant means not only financial help or extra hands to do household chores, but also a new friendship, which will be cultivated with daily living, joint work and plans to future, you will not regret it!

Finding the ideal home is not a simple task, but applying and getting the most suitable mortgage if it can be. If you need more advice on the subject, do not hesitate to contact us! We invite you to click on the image below to learn more about mortgage loans and achieve your immediate goals.

Categories Uncategorized