Although real estate prices are in the sky, Hungarians are still not giving up their apartment plans, and buyer demand is not falling. Our own home has always been an attractive destination for everyone, so over time, this desire for finance is gaining ground. Even though people in Western Europe are more likely to rent, we are dreaming of every square centimeter of our first home for years to come.

Are you still here and dreaming of your own apartment? Then it’s time to make a financially informed and informed purchase of real estate, one of the most important parts of which is apartment savings. If you don’t know what savings to choose from or how long to save, here’s a summary of the most important things for you!

Home Savings: When to Set It Off?

It’s easy to figure out that the best way to save money is to start setting it aside as soon as possible. Obviously, the more time we have to collect money, the more money we will have when it comes to buying a home.

In this case, the saying that it is not possible to start gathering soon enough holds. The purchase price of a 30 square meter flat in the capital is at least HUF 20 million. Only very few can do this in a few months. Typically, parents and even grandparents start setting aside the apartment they buy for the child, so when the child reaches the age to move, it is possible to touch what. So it is always worthwhile to start saving as soon as possible: even as a child, if we are aware enough, but it is worth thinking about a project that goes over generations. In fact, it’s good to have parents or grandparents set it aside. Choose a form of savings where your money stays valuable and can be safely raised.

However, it is a common mistake to think of our first apartment as one where we will live our entire lives. So we spend unnecessarily much on our new home. It may have been true a few generations ago, but nowadays we move at least once. Either because of a growing family or a new job to name just two examples. But the reasons are endless.

It is easy to see, for example, that our college child will not usually need the living space provided by a multi-room apartment (or possibly a whole house). Maintaining such a property typically costs a lot more money than a one and a half room Budapest apartment, so if the costs are not shared (such as renting an empty room), you will lose a lot of money on overhead and maintenance.

So what to consider when buying your first home?


  • The first thing to do is to gauge how long you will have enough, how long you want to stay in the property you choose, and what your needs will be in the meantime.

  • Let’s see if our money is paid back over the time frame – for example, in a sublease. Let’s see how much it costs for a year with all the rent and how much to maintain your own home. As long as the rent is cheaper, you may not want to move from there.

  • Consider also the space we need. Buying an unreasonably large apartment and not renting empty rooms will cost you a lot to maintain the apartment without utilizing the space available.

It is almost certain that you will also need to use credit to buy the apartment, which will also require your own resources. Keep this in mind when we start saving. Because own funds are usually 20 percent, which means $ 4 million when buying a 20 million forints property. That’s the amount we need to have.

Where to keep the savings? We help you choose!

Where to keep the savings? We help you choose!

There are many aspects to consider when designing your savings when it comes to home use. It is very important to keep this amount secure so that you keep it to a minimum, until you buy the apartment, but if possible, even grow.

With so many alternatives to choose from, let’s see what’s going on with one and the other, when you have little to no self-sufficiency and when you’re still far from your goal:

Leave a comment

Your email address will not be published. Required fields are marked *