Rent or buy? The eternal debate that ends once the possibility of owning a home disappears, that constitutional right that is sometimes based on wet paper. There are quite a few profiles on social networks that have set out to exploit this topic until they have exhausted the advice they offer for free to their followers. MortgagesInvestments and bank loans…about buying a home.
An example of such profiles is Natalia Lara. The financial advisor is her own boss, as she says on her website, and devotes her TikTok channel to explaining financial matters to her followers as if she were “drinking coffee.” From studying cryptocurrencies to… Buying and selling in the markethis videos on the social network are not limited to this: they deal with the daily life of paying road tolls, investing versus saving, and even mortgages.
In one of her latest videos, Lara does a series of calculations to capture the attention of her usual audience: “Your apartment, 200 thousand euros; Thirty-year mortgage; The interest is fixed at 3%.” But it doesn’t end here. The consultant continues her calculations until she comes to the conclusion that from a monthly payment of 853 euros for thirty years, she ends up paying 303,5000 euros. That’s 103,500 euros of additional cost on top of the original price of the house. “No one tells you that when you sign a mortgage,” she says once the registration starts.
The expert mentions in her TiKTok video that many buyers don’t realize the ultimate increase in cost that a long-term mortgage entails. Using a practical example, Lara explains this Get a house €200,000 with a 3% fixed mortgage loan for thirty years means paying €843 per month. This number means that the interest adds 103,500 euros to the initial amount, which raises the cost of the house by more than 50% of its real value.
“Most just calculate the monthly payment, but not Total cost “You pay in the end,” confirms Natalia Lara. Next, the financial advisor invites you to consider the true impact of long-term interests and how a decision made at the beginning could have repercussions for decades without you realizing it.
However, Lara suggests a solution. Minimum interest rate reductions, which can translate into Big savings. The expert explains: “If you go from 3% to 2.5%, you will save 27 thousand euros in thirty years.” In other words, a difference of 0.5% is 27,000 euros,” she explains in more detail. This figure, explains the expert, is usually underestimated by the bank’s clients when they sign contracts.
In her TikTok message, Natalia Lara insists not to wait and take immediate action for those who already have a mortgage. “When’s the last time you renegotiated your mortgage? Call your bank today, because sometimes ten minutes is worth Thousands of euros“, advises the expert in her video.
Lara believes that considering the possibility of renegotiating terms, even to reduce the interest rate by half a point, could represent a decisive saving in the long term. Therefore, it encourages users to use the power of information and Banking management For your own benefit. If necessary, resort to specialized consultants.