Buying a home is always a big responsibility and a big expense. Everyone dreams of buying their own home and being independent of landlords or flatmates, but only a small number of people can afford such a pleasure these days.
Those who can, though, can do it via many different ways: this article will discuss three of them, — and the latest option would be perfect for those who don’t have savings or aren’t ready to take up a mortgage. So: three ways to buy property in Vienna that are not full-price coverage and mortgage. Let’s go!
Buying a house for cryptocurrency is a real novelty on the market, but it brings out positives for those who already have Bitcoin, Litecoin, Dogecoin, or Ethereum in their digital pockets. You can do so, too. (Note: although digital technology simplifies many procedures and makes them more secure in some cases, there are nuances that you need to know before investing in cryptocurrency.)
The big advantage of buying a home for Bitcoin is that you are investing from unstable to stable. The cryptocurrency market is unpredictable, and predicting the rises and falls correctly is borderline impossible; or just extremely, expert-level difficult. The value of the coins changes every second and depends on many factors. With real estate, the situation is more predictable. (Even though the market can, too, be volatile — but even if you take that into account, instability of real-estate investments can’t begin to rival that within crypto spaces.) Stable long-term investments are definitely a win.
It doesn’t hurt that there are no regulations for cryptocurrency transfers within Austria (yet) and you don’t have to prepare millions of papers, sit in queues, and drown in all that mortal bureaucracy.
If you still thought that only paintings by famous artists are sold at auctions, this is not the case. Imagine that there are special auctions for the sale of real estate. This is a rather unusual event in the real estate market, but it is no less stressful. For sellers, auctions are an opportunity to get the highest price for their property. For buyers, such events become a good chance to get a good deal. And realtors focus on capturing as many potential clients as possible.
Buying a home at auction is especially popular among Australians. They highlight many positive factors in this process. One of the benefits is that you don’t have to spend months or years searching for a perfect flat or researching the real estate market, in general. You just come to the auction like you would go shopping. Then, you pick the option you’d like the most and place your bid.
The most interesting part of the auction is the competition — the bidding. Often, people who have never been to such events think that everything looks like a movie, and buyers offer infinitely large sums competing with each other. But, in fact, there are clear rules that govern the process; they are the same for everyone. It is the buyers who evaluate the objects and give them their first price, not the sellers.
Note: it’s a bad idea to go to the auction without prior research into how things work there, so do your due diligence.
It’s the less expensive option on this list: in fact, it’s almost free. Crowdfunding is raising a large amount of money from a large group of people from different backgrounds, all over the world. You do not need to be an aspiring entrepreneur asking money for their new startup or a famous person to run a crowdfunding campaign.
The process is a bit similar to charity. You can create your own campaign on a site like GoFundMe and spread your idea — or your request, in our case — around the world. “Almost” free — because you do need to spend some time crafting the text for the campaign and doing that half-marketing half-writing work, in general.
Many people who don’t have housing, money for healthcare, or different medical procedures turn to crowdfunding. It’s also a popular way for, for instance, indie companies — publishers and game studios or artists to get the money they require to cover rent, materials for their projects, or just starting capital, in general.
And if you think that encouraging people to invest in your house is not exactly a charity, then you are wrong. The main thing for you is to be honest and not hide the main purpose of raising money for buying a house. It’s honestly okay to ask people for money: they are not obligated to fund your purchases but they could if they wanted to, right?
Besides, half a century ago one could work for a year and buy a house from their income — and everyone understands that it’s not the case in today’s economy. Everyone deserves housing. So, there’s nothing wrong with trying to cover its cost via crowdfunding.