Bridging loan buy apartment or house

Bridging loan buy apartment or house
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Choosing a home where to live in is a decision full of challenges. People usually have saved money for years before making this step. As you may know, different people like different types of homes. Some people prefer apartments, while other prefers houses. Of course, buying a house or an apartment is a big investment so sometimes people need bridging loans. This type of loan helps people to find the money before actually having them.

What are the disadvantages of apartments?

Apartments are a popular choice for people who want to live in perfect locations. The idea of living in an apartment follows the idea to live close to your job, school, etc. However, if you have to choose between two apartments, choose this one, which is more close to places you visit daily. There is no point in living in an apartment at the other end of the town and spending tons of money on expenses for transport.

Another thing, you should have in mind for apartments, is that they can be a bit noisy. Sometimes neighbours are terrible people or just deaf so you can hear every single word and groan. Of course, sometimes neighbours are the best people, you have met in your life and you start to see them regularly. Little advice is to meet them as soon as you choose your apartment and try to establish some communication. This way you will have some idea what type of people they are.

In an apartment, you can have pets, which are not too big. Dog lovers can take care of a small dog because the bigger ones will not feel enough comfortable in small spaces. In addition, if your apartment looks like too small you can change wall colours to make it look bigger. Different furniture can help a lot with widening space, too.

In Singapore, for last year 6,020 private residential units were sold. This number is big enough for a country like Singapore. Imagine how many people have invested their savings in new homes.

That’s why the number of moneylenders who offer bridging loans is raising, too.

They offer to 80% of the price of the new house or apartment in exchange for higher interest rate and for a limited period. You can compare moneylenders who will give you bridging loans for 6 months period on People who are sure they will receive a big amount of money in next 6 months can get this type of loan. At the end of the period, they have to pay an interest rate as a difference.

What are disadvantages of houses?

Houses are literally closer to nature. Most people prefer houses because they can be built in quiet places. If you love dogs this is the perfect decision for you. The big advantage and disadvantage of one house is the same thing – space. If you want more space, you have to maintain more space. Don’t forget that house comes with a yard which needs maintaining, too.

The temperature in a house is next disadvantage especially if you want to be as warm as possible. Houses are harder for warming and cooling but this is the price for more space. If you really have trouble with that, try to cut down trees outside to let sunlight enter easily.

However, choosing a property depends on the personal preferences. People, who used to live in a house, done see disadvantages at all. Those who all their life, have lived in an apartment hate empty spaces in houses. If you can’t make a decision just try to imagine pros and cons and compare them. The first step is always the decision and late if you need more money, bridging loans wait for you.