What does buying a used Infonavit house consist of?

Are you thinking of buying a used house with Infonavit? See here how you can do it and what are the requirements to determine if it is the best option for you.

Sky Marketing is a leading marketing company working on many real estate projects like smart city, smart city Islamabad and development housing societies in Pakistan.

Infonavit can finance the purchase of your house through different credits, regardless of whether it is a new or used house. The house must only meet certain requirements and you must have the Infonavit points necessary to request your credit.

The important thing here is that you have no doubts because the house is not new. Next, we explain what are the benefits of buying a used house and how to achieve it.

Should I buy a used house with Infonavit?

• Benefits of buying a used home
• Characteristics that the house used for Infonavit must have
• Requirements to buy a used house from Infonavit

Benefits of buying a used home

The biggest benefit of buying a used home is that the price is considerably lower than a new home, so you could get a bigger or better-featured home at a better price.

In addition, when buying a used house, the procedures are faster, since in general the seller has all the documents in order and the only waiting time is for the purchase and sale procedures to be taken.

It is important to note that used houses are in better locations than new ones. This is because newly built homes are usually located in more remote areas where they are just beginning to develop. This will allow you to have more amenities such as better services, nearby establishments and public transport.

Although the size of a used house can sometimes be larger for a lower price, the materials may not be very modern and you may have to invest in remodeling. This can be an advantage since, by doing some remodeling, the house would be to your liking.

Consider that Infonavit also has the option to buy and improve a used home with the same loan, which can facilitate this point. Also think that if you choose a house with a good location and also make improvements in it, it will be revalued.

Characteristics that the house used for Infonavit must have

In order to buy a used house with Infonavit, you must request an appraisal and verify that it meets the following requirements:

• That the house is located in an urbanized area
• That it is composed of at least bedroom (s), living room, kitchen and bathroom
• That it has drainage, water and electricity services
• Being away from risk areas such as fuel tanks, high voltage lines, rivers, underground pipelines, etc.
• Have a minimum useful life of 30 years
• That it has the deed registered in the Public Property Registry
• That he is up to date with the payments of water consumption and property
• That it has a Technical Quality Report with a minimum score of 70 points (this document is processed at the same time as the appraisal)

In the case of wanting to make improvements to the house with the same Infonavit credit, you should take into account that:

• The improvement should not affect the structure of the house
• You must present your work program and budget in the formats indicated to you
• The cost of the improvement must be a minimum of $ 10,000 and a maximum of up to 80% of the value of the operation
• The maximum amount of the improvement may be up to 90% of the balance of your housing subaccount

Requirements to buy a used house from Infonavit

To buy a used house from Infonavit you have these credit options:

• Infonavit Credit
• Cofinavit
• Infonavit support
• Home to your measure
• Infonavit Total
• Cofinavit Additional Income
• Your 2nd Infonavit Credit

In the case of wanting to buy and improve a used house, you only have the Infonavit Credit option. The requirements to buy a used house vary for each loan, so you should review them and analyze which is the most convenient for you.

These are the general requirements that you must meet in order to buy a used house with Infonavit:

• Be an Infonavit beneficiary and have a current employment relationship
• Have 116 points in your account
• Your age at the time of contracting the loan, adding the term to pay it off, should not exceed 65 years

Now that you know everything that involves buying a used Infonavit house, you can make your decision. Take into account that when buying a used house you also run certain risks and to avoid them you must verify that everything is in order. We recommend that you follow these tips to buy a used home .