Tuesday , October 26 2021

Buy or rent? A new tool to see a few clicks more clearly



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A new tool that lets you see more clicks in a few clicks.

While 74% of Belgium owns a home, it does not prevent many of them from always looking for their dreams. Between rent and purchase, it is a famous course to cross, full of uncertainty. Is it financially advantageous to buy? Can you afford it? Do you have enough savings to fund your purchase? So many questions that sometimes are difficult to answer before pushing your bank's door.

That's why Axa introduces a new tool that determines whether it is more important for you to buy or continue to rent on the basis of some of the data to be provided (rent amount, personal contribution, monthly payment). And, most importantly, if you have enough funds to buy. In addition, given the importance of the simulator, an estimate is made of the amount you can spend on real estate purchase.

This tool is primarily intended for young adults who want to buy their own home. "The idea of ​​a simulator was born from an internal hackathon and the employees had the opportunity to sign up for a hackathon to spend the whole day thinking about innovative ideas that fit their needs. A group of 20 people had an idea of ​​a simulator because they noticed in their circle of friends that many young people asks the same question, especially now that mortgage rates are historically low., says Axa.

Nick, 27, a bank employee and one of the tool makers "As a young adult, you are often told that" renting is a waste of money "and that it would be better to invest in your house now that you can borrow at such a low rate. It is easy to choose between renting and buying if you can't calculate the difference. there is not yet a specific purchase plan, the steps you can take to visit a bank agent may be a little We want to respond to them by giving them the first idea using our online simulator. "

One of the elements of rental and comparison comparisons is the difference between the rent you lose to your landlord and the interest you will save on the next loan that will be lower if you continue to rent and save. "But the choice between renting and buying is not just a financial choice – for example, it can be more financially attractive to someone to buy, but he prefers the flexibility of renting. Axa among 600 tenants in Belgium shows that 74% of them are renting because they don't have the financial resources yet to buy something, but half of them say they are renting because they like flexibility, freedom and carelessness. "

Perform a simulation online

V. S.

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