The program focuses on giving young couples the opportunity to rent small rooms at low rates so they can save money to buy a house
This is not new, the Housing Ministry has been working on it for quite a long time. The main target of the plan is to help young couples save money to buy their own houses. We have already talked about the lowering of mortgage rates, you can see the full article here.
The plan consists in subsidizing a part of young couples’ rental (small apartments of about 35 m2) for 4 years; the time where they will enjoy this benefit provided by the government so that they can save for a home.
The plan is still being developed but it is expected to start next year.
It seems to be an excellent opportunity to support young couples while they save money for the first payment of a house. The minister mentioned that this plan will reduce the difficulty for young couples to save money during their first years of marriage.
Usually, once couples have already started paying their houses they start looking to increase their quality of life and buy a car. Last week, we reported the increase in car sales; some cars were sold for as little as US$7,000. If you want to know more about this check out this article.
Do you think this is a good way to help young couples buy a house?
(Cover Photo Flickr)
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