Developer instalments

Developer instalments

The article discusses the possibility of purchasing an apartment in installments, and the pros and cons of this option compared to a mortgage.

How can цу buy an apartment in 2024, when preferential mortgages are a thing of the past for many, and real estate prices continue to rise? One of the options is to purchase housing in installments from the developer, which can be an alternative to a mortgage. The main condition here is the availability of a high and stable income.

In case of installments, the cost of the apartment is divided into parts, and the contract is concluded directly with the developer, without the participation of the bank and confirmation of income. The terms of the installment plan can vary greatly depending on the specific project, so it makes sense to ask each developer if there is such an option.

Currently, it is possible to buy an apartment on the primary market using an installment plan from a developer company. This is the purchase of housing with a phased payment of its cost over 1-4 years. However, it is worth noting that this opportunity is not available to everyone, but only to those who have a stable and fairly high income.

There is good news: installments are provided mainly without interest. Less often, developers offer installments at a percentage that can range from 10% to 18% per annum. The terms range from 3 months to 10 years, with installments of 6-12 months being the most common.

Let’s look at the pros and cons of buying an apartment in installments compared to a mortgage.

Pros:

1. There is no need to go through banking procedures and provide proof of income.

2. The possibility of purchasing a home without an initial payment.

3. The absence of interest or their minimum amount in installments.

4. Flexible payment terms that can be negotiated directly with the developer.

Cons:

1. Need for high and stable income, which may be a limiting factor for some buyers.

2. The possibility of changing the terms of the installment plan on the part of the developer.

3. Limited selection of properties offered in installments.

Thus, buying an apartment in installments from a developer can be an attractive option for those who do not want or cannot use a mortgage. However, before making a final decision, it is worthwhile to carefully study the terms of the installment plan from a particular developer and assess their financial capabilities.

We hope that the information about the possibility of purchasing housing in installments was useful for you. Remember that the choice of the method of buying real estate should be considered and based on your financial capabilities and goals.

We are ready to choose the best payment terms, taking into account your individual needs. After all, we understand that every person is unique, and everyone has their own capabilities and desires. Therefore, we are ready to listen to you and offer the most favorable conditions.

If you have any questions or would like to learn more about our offers, you can always contact us:

• Tel: +7 (812) 325-38-38 (from 9-00 to 21-00 on weekdays; from 10-00 to 18-00 on weekends and public days)

• Address: Russia, 199406, Saint Petersburg, Nalichnaya Street, 22

• You can also ask our specialists online