{"id":102612,"date":"2020-03-18T09:49:45","date_gmt":"2020-03-18T08:49:45","guid":{"rendered":"https:\/\/www.shbarcelona.com\/blog\/en\/?p=102612"},"modified":"2020-03-23T12:17:55","modified_gmt":"2020-03-23T11:17:55","slug":"buy-home-2020","status":"publish","type":"post","link":"https:\/\/www.shbarcelona.com\/blog\/en\/buy-home-2020\/","title":{"rendered":"How to Buy Your Own Home in Barcelona in 2020"},"content":{"rendered":"

Today\u2019s article by ShBarcelona<\/strong><\/a> is about the fact that many people want to buy a home in Barcelona<\/strong><\/a> in 2020. A large group of tenants is considering buying property this year, because owning your own house comes with a more secure feeling.<\/p>\n

The main obstacle that is preventing this group from doing so, however, is the lack of savings, which is needed to be granted a mortgage. The amount of savings we are talking about here is usually around 20% of the price of the property.<\/p>\n

Related article:\u00a0Should You Rent or Buy Property in Barcelona?<\/a><\/em><\/p>\n

How to buy your own property in Barcelona in 2020<\/h2>\n
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Photo via Pixabay<\/em><\/p><\/div>\n

Young people being able to buy their first home<\/strong> could be key to the real estate industry’s ability to move forward, and although everyone having access to the housing market is very important, this is not an easy task.<\/p>\n

So that is why the real estate industry is looking for a way for this group to invest in affordable housing, despite not having (enough) savings<\/strong><\/a>, which is a direct result of low wages.\u00a0Property developers are doing what they can to allow for more affordable housing<\/strong><\/a> to be built, but the financial sector will also have to play its role, by providing a way of financing the initial entry fees.<\/p>\n

Many young people are able to pay for their monthly mortgage<\/strong><\/a> instalment, but what is lacking is enough savings to pay for the initial 20% that is required at the time of purchase.\u00a0 For this reason alone, people should start saving at a very young age and with consistency to be able to buy a house later in life.<\/p>\n

Social housing (Viviendas de Protecci\u00f3n Oficial en Barcelona<\/strong><\/a>)<\/em> was introduced so that the most disadvantaged people could have access to housing without problems. The fundamental advantage of this initiative is, as everyone probably knows, its price, which is below market value. In addition to this, there are also financial aids to make a purchase possible.<\/p>\n

Related article:\u00a08 advantages of using a real estate agency<\/a><\/em><\/p>\n

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Photo via Pixabay<\/em><\/p><\/div>\n

If you are in need of social housing, then the first thing to do is to register at the Barcelona Social Housing Applicants Register. Be aware that upon registering you must meet the following requirements<\/strong><\/a>:<\/p>\n