Do you want to buy an apartment or a house in Spain this 2022?

At the beginning of the year, we set ourselves new goals that we would like to achieve, but they are not always met, saving is probably on your list of goals for 2022.

If your purpose for this year 2022 is to buy your first home, the Naranja Spain real estate agency in Guardamar del Segura has the keys to teach you to save on the purchase of an apartment as your first investment.

1. Create a savings bank account to buy a home.

It is important first that you commit to the fact that this bank account is untouchable, even if you have an unforeseen expense, reduce expenses and get the money from elsewhere. Opening this savings account to buy your home is also a psychological and motivational aid, it is very important that you start it as soon as possible.

2. Bank deposits to buy a house

If you know that you are a person who has a hard time not touching saved money, we recommend bank deposits because, unlike savings accounts, there are penalties if you withdraw the money before the bank deposit term expires. But do not worry that they will not take away your saved money, the only thing that can happen if you withdraw the money before the bank deposit expires is that you will not be paid interest. There is also the alternative of a bank deposit without penalty. In both cases, the positive part is that your savings are insured by the Deposit Guarantee Fund, normally up to €100,000 per depositor and bank.

3. Control your finances.

Do you know how much you spend? There are many people who are not really aware of what they spend on goods and their non-essential expenses. To save it is very important to keep a strict personal accounting as if you were a company, there are a large number of Apps that facilitate this task. If you have never done it before, start with a detailed list of absolutely all the expenses and income that you have in a month, and after that month, make a decision and designate a specific amount for your expendable expenses (leisure and pocket money) and don't cross your limit line.

4. Buy your apartment off plan in Spain

This is undoubtedly one of the best options to buy a home. It is an option for practical and determined people since you know what the project is, you know the characteristics of your future home, it is a more profitable investment since it is new construction and you clearly know your deadline and the time of delivery of the home.

This modality has normally affordable and low fees, but it is necessary to demonstrate an amount of income that demonstrates your ease of payment. There are many projects where the initial fee is paid in installments of between 24 and 32 months; and just as it happens in a personal savings account, you can create a payment plan that suits your needs.

5. Invest in bonds

If after having put your finances in order you realize that this stage is going to last you more than two years; consider the option of saving with fixed rate bonds since the interest you will get will be better than in a bank account. Investing in bonds means having a fixed monthly amount, which generally you will not be able to withdraw and from which you will obtain benefits in the form of interest.

6. Rethink your retirement plan

Divert some of those funds to save to buy a house. If you're close to retirement age, rule this option out altogether. But if you're still young, we recommend this short-term option, as it usually makes a big difference in how quickly you could save up for an apartment or your first home.

7. Sell and reduce your material goods.

Surely you have a large number of things that you hardly use, sell everything that you do not use on a regular basis: clothes, furniture, appliances, electronics, material for that new hobby that you never got hooked on, etc... This way you are benefiting in many ways:

On the one hand, you will generate extra income that goes directly into your savings account to buy your first home.

You cause an energetic cleaning in your home, since the accumulated objects, in addition to occupying a physical space in your home, also contain energy; despite being objects that we consider inanimate. cleaning objects, you will feel lighter.

You will facilitate the move for when you have already saved and are the owner of your first apartment.

8. Extra income with your skills

There are times that we get stuck in a system of generating income and we are not taking into account that in addition to our usual work, we can generate extra income either through your hobbies; selling something that we know how to do or something that we can teach, be it professional skills or any other kind that will help other people.