Many people know that Family Home Discount is an opportunity worth taking advantage of. But fewer people say that if we don’t pay attention, we can hit her ankle badly. With a little exaggeration, we can get ourselves into debt for a lifetime. We’ll show you the details!
Why is Family Home Discount good?
We are basically talking about a one-off, non-refundable state subsidy that makes it easier to get your real estate.
Exactly how much money we can get from the state depends on the number of our children and the size and condition of the future property. The amount can be quite high, up to HUF 10 million . In order to do this, you need to have 3 children and apply for Family Home Discount for newly built real estate, the minimum requirement is 60nm in the case of an apartment, and 90 square meters in the case of a residential house. But the smallest amount is not to be underestimated, as it is 600 thousand HUF, which is enough if we have 1 child and buy a 40 sqm flat.
As we can see, in a world given heaven, there is no problem with this support, just an optional part of our choice that we need to think about very carefully. And it’s about having children.
Unless there are enough children?
In the case of Family Home Discount, there is a concession mentioned in the introduction to this article. We do not need to have 1-2-3 children already, we may even commit to having them within 10 years.
So anyone can claim the $ 10 million without a child. But this is something we need to think twice. The question is, what happens if the number of children does not succeed?
Then, to put it mildly, we’re in trouble…
In that case, we have to repay the difference with interest. What’s more, not with simple interest rates, but with five times the base rate (currently 0.9%), or 4.5%. Which is constantly ticking over the demand for Family Home Discount for 10 years.
After a quick head-to-head calculation, we realize that this can amount to as much as $ 20-30 million. Therefore, we are very strongly asking you to think carefully about the number of children you will be involved in with Family Home Discount . Of course, we are here and provide you with all the useful information, so contact us! We accompany you throughout the borrowing process to make it easier.