Title Monthly payment of 6500, 350,000 paid off! Analyze how to realise interest differences
Maybe I will have to work in a bank for the rest of my life, and I have repaid a mortgage of 350,000 yuan in more than four years, and the interest on it has reached 290,000 yuan.
My husband is from the suburbs of Nanning, Guangxi, and when we got married, he didn't have a property or a vehicle in hand.
Despite this, I chose marriage out of the pursuit of so-called love.
I thought to myself, if we work together, the lost bread will eventually come back.
When I first married him, I lived with my in-laws in the hope of getting help from them.
However, there is also a young son under the in-laws.
Within a year of my marriage, my in-laws' youngest son also started to fall in love.
At that time, he found a girlfriend from out of town.
In order to help the youngest son get married as soon as possible, the in-laws built a house for him.
However, this house does not have my husband's share.
The in-laws explained: "This house was built for your brother's marriage, and we will save up for a few more years to build one for you." ”
My heart is full of resentment about this.
Obviously, my husband is the eldest son in the family, but my in-laws only help my younger brother build a house.
Although we had nothing to do, I could only watch my brother-in-law get a new house.
Soon after the brother-in-law got married, he moved into a new house with his out-of-town wife, while my husband and I still lived in the old house with the old man.
However, since my brother-in-law got married, my in-laws rarely go out to work, and they spend all day around my brother-in-law's family, only taking care of their children, and almost not caring about my daughter.
It was precisely because of the partiality of my in-laws that I aroused the idea of fostering my children to them in a fit of anger and taking my husband and wife to work in other places.
I don't believe that two of us adults can't fight for a house.
So, my husband and I came to Guangdong to work, and we both entered the factory, enjoying the benefits of room and board, and receiving a salary of more than 4,000 yuan per month.
The time I worked in the factory was very hard, and I often thought about my daughter who stayed at my in-laws' house, but I also thought about the partiality of my in-laws, so I chose to endure it.
I believe that with my own efforts, I can buy my own house even without the help of my in-laws.
We have been working in Guangdong for three years, and in the past three years, we have basically no expenses, and every penny we earn has been saved, with a total deposit of 120,000 yuan.
With a deposit of 120,000 yuan, we returned to Nanning.
When I returned to my in-laws' house, I saw my daughter sitting dirty in the yard peeling corn, while my brother-in-law's son was dressed cleanly and eating bread.
This scene broke my heart deeply and strengthened my resolve to buy a house and move out.
We had the money, but we didn't plan to build our own house, we planned to go to the city and buy one.
My husband and I came to town and have been looking at properties in hopes of buying a house soon.
Although we looked at a lot of houses, those were too expensive.
In the end, we had our eye on a house that was in good general condition.
This house is a three-bedroom apartment with an area of 80 square meters, and the total house price is 1.2 million, but the down payment only needs 100,000 yuan.
At that time, we had 120,000 yuan in savings, just enough for a down payment, so we bought this house worth 1.2 million.
At that time, the situation of the house was roughly as follows: the total house payment was 1.2 million, the down payment was 100,000 yuan, and the monthly repayment was 6,500 yuan.
Even though the monthly repayment of $6,500 was acceptable to me (because I was so eager to own a house at the time), we were very excited because we became city dwellers after buying a house.
We bought a house and then moved to Nanning with our daughter to rent a small single room for 250 yuan per month.
At that time, I thought like this: I have my own house, no matter how hard it is, I will not bow my head to my in-laws' house.
So, our family of three settled in Nanning, but we couldn't relax, because we still had to pay a mortgage of 6,500 yuan every month.
Since we bought a house, we have to pay for living expenses, go to kindergarten for our daughter, and pay a mortgage of 6,500 yuan a month.
I roughly calculated that we would need to spend about $10,000 a month to pay the mortgage and other expenses.
In order to pay off the mortgage, my husband went to work in the factory during the day and worked part-time as a security guard at night (the security work was relatively easy), he could earn 4,500 to 5,000 yuan a month working in the factory, and 3,000 yuan a month as a security guard at night, a total salary of 8,000 yuan.
During the day, after I sent my daughter to kindergarten, I started making takeaways, and I was able to earn more than 4,000 yuan a month.
My husband's salary is 8,000 yuan, and with my salary of 4,000 yuan, the total income of our husband and wife reaches 12,000 yuan, which is higher than when I worked in Guangdong.
In order to be able to pay the mortgage on time every month, we are reluctant to buy good food and drink, try to save money, although the life is very simple, we have become a house people.
Since I bought the house, I feel that I am walking in style, and when I return to my hometown, my in-laws are also impressed with us, after all, we did not ask them for money to buy a house (although my in-laws promised us a subsidy of 80,000 yuan).
Since I bought my house, I am still full of joy despite the hardships of life.
It's been more than four years since we bought our house in 2018, and my husband and I have calculated how much we've paid off our mortgage over the past four years to see if we've paid off a fifth.
The results are surprising, in the past four years, we have repaid a total of 350,000 yuan of mortgage, but the interest is as high as 290,000 yuan, and only 60,000 yuan is the principal.
When I saw that the principal was only 60,000, I was stunned.
Our 80-square-meter house requires a down payment of 100,000 yuan, plus taxes and agency fees, a total of nearly 200,000 yuan.
In addition, we have repaid the mortgage of 350,000 yuan in the past four years, which means that we have paid more than 500,000 yuan, but only 60,000 yuan is the principal.
Our total mortgage is 1.2 million, and we have borrowed 1.1 million, which means that we still owe 1.04 million in housing payments, and all the efforts we have made in the past few years seem to have been in vain.
I didn't think much about it when I first bought a house, I was just attracted by the low down payment and didn't pay much attention to the interest rate.
And we have been working hard to make money for the past few years, and we have not thought about the issue of interest and principal at all.
It wasn't until we got the keys that we found out that we had only repaid the 60,000 principal.
When we calculated that the principal was only 60,000, my husband and I both felt devastated.
My husband has been working day and night for the past few years, working 18 hours a day, and I don't take enough care of the children, even on weekends I have to take her to make takeout.
However, the final result was only to repay the 60,000 principal, which is really a big joke.
When we learned that only 60,000 of the 350,000 miles were the principal, we were really going to collapse.
I didn't expect the principal to be only 60,000.
We've had a really hard time these past few years.
So, after discussing with my husband, I decided to sell the house, even if I lost money, I didn't want to take on the mortgage for so many years.
According to the calculation that only 60,000 of 350,000 is the principal, even if I earn 3 million, it is not enough to repay the mortgage.
Therefore, we finally decided to sell the house.
However, when it came time to sell the house, it was in trouble.
When it was first purchased, it was 150,000 yuan, and now the house price has fallen to 110,000 yuan, converted, the house with a total price of 1.2 million is now only worth 880,000.
Follow now 1If I sell 10,000 yuan per square meter, I will lose at least 320,000 yuan.
If I lose 320,000 yuan, I definitely don't want to sell.
There was a buyer who had seen my house before and was willing to bid 950,000 yuan, and my husband wanted to sell it, and he said that the pressure over the years was too great and he couldn't breathe.
But I firmly disagree, because the total price we bought this house was 1.2 million, and I couldn't lose hundreds of thousands.
The buyer gave 950,000 yuan, and I didn't sell it, because I invested more than 500,000 yuan in this house, and even if I sold it for 950,000 yuan, I couldn't buy the same house.
To be honest, when I first wanted to sell, the price was 1.6 million, and I didn't plan to make money on this house, but at least I hope that I won't lose money in the next four years.
But I didn't expect the house price to fall to 110,000 yuan, selling 1.6 million, it's simply impossible.
The most ridiculous thing is that there was a buyer who came to see my house and was only willing to bid 800,000, and I almost kicked him away.
It's a joke that I've worked so hard to invest so much money into this house over the years, but in the end the buyer only paid 800,000.
Now it's not that my house can't be sold, it's that the buyer is bidding too low.
At present, the most ** given is 950,000, but even if I am given 950,000, I am not willing to sell, I don't want to put in so many years of hard work in vain.
I originally planned to sell it for 1.6 million, but then I realized that this ** couldn't be sold, so I didn't insist anymore, if someone offered a proper **, such as 1.25 million, maybe I would sell it.
* The house of 100,000 is really not selling.
Now I am very tired from working every day, and when I come home and see this house in front of me, I regret it all the time.
I regret my decision to buy a house, and if I had thought about it a little more, or used the first 100,000 yuan to build a house in the countryside, my life would definitely not be like this.
Over the years, many people in the village have congratulated me on getting a new house, but they don't know how hard I've been through these years.
I worked hard to pay 100,000 yuan as a down payment and paid off a mortgage of 350,000 yuan, and in the end only 60,000 yuan became the principal.
Whenever I think about the only 60,000 principal, I really want to hit the wall.
I don't know if I can sell this house now, if I can't sell it, I will have to work for the bank for the rest of my life.
Here I would like to advise some friends who want to buy a house that they must be clear about their strength before buying a house, and they must also understand the interest rate.
If you can buy a house in full, it is best not to make a monthly payment, because the monthly payment pressure is very high and the interest is also very high.
Unless it's a high-income group, it's really hard for ordinary families like us to bear it.