The obsession of young people with paying home loan interest

The cramped, hot rooms but the constantly increasing rent prices make many people more determined to pursue the dream of owning their own home. To make that dream come true, using economic leverage such as bank loans is also an advantage, of course with the most preferential interest rates - Photo: TRIEU VAN

After many ups and downs, waking up in the morning to find out that you have lost your job is no longer a strange thing. When you are struggling to pay interest to keep your dream of settling down, that fear is certainly even more terrible, especially for workers and young people who do not have a very high income.

The role of department head but "dances to every song"

"After being unemployed for a whole year and not having enough money to pay rent, I decided to buy a house," Ms. T. laughed.

And sure enough, one weekend last April, she texted a few close friends to come to District 8 for a housewarming party.

To everyone's surprise, she said that because she wanted to escape the situation of renting a house, she took the risk of signing the loan papers and buying a house.

It is right to call it reckless because the price of the apartment she bought was nearly 2 billion (nearly ^70m2 wide), while her entire assets were exactly 40 million VND. The problem was solved by borrowing 400 million VND from her family. The remaining 1.6 billion VND was taken care of by the bank, paying a preferential interest rate of 6% for the first 3 years, the next 22 years changing depending on the bank.

The salary of the head of the communications department that Ms. T. receives each month is about 32 million VND. She has to pay more than 21 million VND/month to the bank, the rest is not enough for spending.

Some places offered Ms. T. jobs with higher salaries, but she refused because she was afraid. At this time, having a stable job is better than jumping around randomly.

Following the company's staff reduction, from department head, Ms. T. took on the role of "handyman". It sounds strange but it seems very effective, which is great for someone like her who needs to increase her income.

From communications, she moved to product development, market development, planning, legal, and even consultant, sales... and "jumped well".

"The department head makes it sound impressive, but nowadays you never know when you'll be unemployed," said Ms. T.

Having to save money, Ngan almost never goes out for coffee or eats out since taking out a loan to pay off her apartment - Illustration: TRIEU VAN

Eat vegetables every day, lose weight and save money

The moment he signed the loan agreement for more than 1.2 billion VND to pay for the apartment, Van Trong (28 years old, living in Thu Duc City, Ho Chi Minh City) decided he would have to try harder and save more.

Trong used to be a real estate businessman, but with the market being gloomy for a long time, his monthly income has gone from tens of millions of dong to less than 8 million dong. That is not enough to pay the bank, so he has to do more work.

Through freelance job search and recruitment groups, Trong accepts any job he can do. There are many jobs that are a bit out of his league, but because the "salary" is high, Trong still takes the risk and accepts it, considering it as studying and working at the same time, gaining more experience and having money to cover expenses.

There were times when he couldn’t find a part-time job, so Trong signed up to be a tech driver. Driving a few hours each night also helped him earn a few million dong, which helped him cover his food expenses.

Thuy Ngan (31 years old, living in Di An city, Binh Duong province) said that to be able to live in her own house and escape renting, she had to change almost all her old habits, especially when her salary of 14 million VND/month was only enough to pay the bank.

Instead of going to coffee shops to work, Ngan now stays at home. She limits her participation in expensive appointments like before. If it is convenient, she goes to the market, cooks and organizes parties at home.

Ngan's previous taste for meat and grilled dishes has also completely changed. Almost all meals in the new house are mostly vegetable dishes.

To make it more delicious, Ngan constantly changes the way she cooks. From stir-fried water spinach with garlic, stir-fried bok choy, boiled sweet potato leaves, mixed vegetable soup and soup made from vegetable broth, adding a little lemon and spices is also very appetizing.

"You'll get used to it if you eat it often. Even though it's just vegetables, depending on the type of vegetable, changing the way you cook it constantly will make it delicious. Sometimes when I'm in a hurry, I just clean the lettuce, add some cherry tomatoes, drizzle the dressing on top and it becomes a '5-star' salad. It's convenient, delicious, and very economical," Ngan humorously revealed.

Source: https://tuoitre.vn/noi-am-anh-tra-lai-vay-mua-nha-cua-nguoi-tre-20240510194249534.htm