People often decide for short maturities of mortgages, incl. But paradoxically, the maturity and the payment of two more freedoms. We have free resources that can be valued with a suitable investment.
Veronika (35) and Tom (36) Velc have a small ethnic company. Ij with them two sons aged 6 and 9 years.
Five years ago, they bought a 3 + 1 apartment with a garage in the district town for personal ownership, and they bought a mortgage in the amount of 1,100,000 K to buy it. . The value of the apartment is now 1,700,000 K. A year ago they bought a car, which they drank 370,000 K.
Msn salary of the installment in the total amount of 21 900 K. The balance of the car payment is now 270 000 K (vr for 3 years with a payment of 12 300 K msn, years rate 12% pa). Unpaid mortgage balance in 850,000 K (in 15 years, installment 9,600 K msn, years rate 6.5% pa).
The average monthly household income is 39,000 K, thanks to the high level of payments they can not save much and their financial reserves are minimal.
How to improve family finances
It is necessary to set the existing balance so that the financial balance of the family (income minus expenses) is positive. And according to the creation of sufficient free funds, both as a financial reserve for unexpected events and so for the gradual creation of funds for children’s studies and their start in independent life.
Manel Velc set out their short-term duties, but the vry set their limit. Their main motive was to pay off debts as soon as possible. For all, they used all freely available means.
They do not have problems with fulfillment, but the current situation does not satisfy them. Both are economists, because they know that the positive economic balance of the family can be achieved either by reducing the expenditure or by the extra income. In our case, it is appropriate to look at both sides of the balance.
For simplicity, let’s omit the possibility of disputes in the very existing costs of the family and focus on the faith. The so-called healthy vr can be considered vr to live. Pensions spent in this way are variable in the value of real estate that does not lose in price, on the contrary, due to the situation on our real estate market rise.
The price of pensions in this way is the lowest on the financial market and, in addition, it takes many years to deduct from the tax base and thus to dream the world. In addition, it is a good time to change the structure of the vr, or this year the mortgage fixation models manel Velkch, so they can change the mortgage settings without any problems. vr on the car is mon without penalties to pay off at any time.
General salary: I have a longer maturity period, although less is a payment, but you have years to pay. However, this is a very simplified view. The effort to pay as little as possible in the years is very different, and therefore they are most often chosen for mortgages with shorter maturities.
However, how much we pay in years is a completely inappropriate parameter in the long run. It does not take into account the time value of pensions. For the first comparison, we need to take into account the possibility of connection. There is no possibility of a difference in the installments of the savings.
Spoen will lead to the fact that after the end of the period of fixation of the rate, the rate will be able to decide whether to pay back or not. Manel Velc are young and their productive age should end in 26 years. Appropriate investment of free resources in the ideal case of pin and change on the income side. The so-called passive income is added to the families of the family. This is an income that does not directly depend on the economic assets of the Great.
|Hints and tips
If you are considering a mortgage, have accurate and clear suggestions, preferably in several variants.
Do not use your own pension to invest in real estate. Use hypoten incl. Use your own pensions for investments and value them in a suitable portfolio. The profits you can lose are a million crowns.
Salary rule – m del mortgage, tm lep. Even the difference in the installment has a long time (20-40 years) of investment wonders (according to which it is disciplined in investing, the difference in the installment must not be spent).
They are not suitable for very conservative individuals. For conservative investments, it is not possible to achieve a higher return on investment, mortgage years are not paid.
Be aware that there is always a risk of reimbursement for your returns. There is no exception to this rule.
Existing debts can be refinanced with a mortgage
They can take out a new mortgage of 1.5 million K for 26 years. With an annual rate of 5.89% ron, the msn installment would amount to 9,400 K. For the entire period, the manager paid 2,932,800 K, of which 1,432,732 K per year.
With a 15% tax on large income and assuming a lasting opportunity to apply the tax deduction paid for the year, there will be a total income tax credit in the amount of 214,910 K, which will be reflected in the average dispute on the installment in the amount of 689 K. 8 711 K.
The new mortgage will cover the balance of the original mortgage case (850,000 K) and the balance of the car charge (270,000 K). The difference of 380,000 CZK can be used both for the creation of financial reserves 130,000 and for the one-off investment 250,000 K.
The mortgage will continue to be maintained, or its own invested funds and auxiliary work will be refinanced during the reconstruction of the apartment.
The difference in the installment against the original state is 12,500 K. These funds can be invested very regularly.
Under normal circumstances, Manel Velc will have his mortgage repaid after 26 years. If they have regularly invested in the difference in installments, they have at their disposal the average valued dispute:
1. The reserve of 130,000 K deposited for the year 2.55% pa generates a passive income of 3,315 K ron, after 26 years the balance of 252,101 K.
2. The medium-term investment of 250,000 K with a five-year investment horizon is about 4.5%. Generates a passive income of 11,250 K in the first year, after 26 years a balance of 803,737 K.
Regular long-term investment of 12,500 K msn will generate in 26 years when evaluating:
4 % 6 864 035 K
5 % 8 011 442 K
6 % 9 397 653 K
7 % 11 077 047 K
8 % 13 117 006 K
9 % 15 601 119 K
10 % 18 633 190 K
When they want to repay the mortgage once, they can do it in less than 26 years. There will be something left under them. The question of suitability is connected with whether and how long they can invest and how they will achieve the return.
Many people make intuitive choices for short maturities, most often for twenty years. Decisions will be made on the basis of how much to pay in years and how much in difference in installments. The difference in spltkch is small, the years paid are large. But paradoxically I have a mortgage, tm better. Two nm more freedom.
We have free resources that can be tied differently. When we connect them, a financial reserve will be created in it, which we would not otherwise have. eu long mortgages let’s pay more in years, ns do not have to regret. On the one hand, we can deduct more from our taxes and most likely spend so much of our own resources. From the point of view of paid year and from the point of view of income, a long mortgage is cheaper.