No matter before coming to Beijing or after coming to Beijing, whenever housing prices in Beijing are mentioned, everyone will say three words "can't afford it".

It is true that house prices in Beijing are very expensive, but we cannot say how expensive it is.

A few years ago, before I graduated from third year of graduate school, I assisted the company in some campus recruitment work as a campus ambassador. HR sister invited several of our campus ambassadors to dinner, and the issue of buying a house in Beijing was mentioned at the dinner table. HR sister said: " Housing prices in Beijing are indeed expensive, but if two people work hard together, and with the support of the two families behind them, they can still reach on tiptoe.”

The word "tip toe" left a deep impression on me.

Compared with students who work in some second-tier cities, they may buy a house one or two years after graduation, and even some students who have not studied in graduate school have replaced their houses once. In Beijing, most people are not qualified to consider housing issues in the first three years of work, and they can slowly consider housing issues after working for four to six years.

1. Qualifications for buying a house

First of all, this article does not consider the qualifications for buying a house. If you want to buy a house in Beijing, you must have the qualifications for buying a house. You must have a household registration or a work residence permit + 60 months of continuous social security.

2. Scope of purchase

There is a word in real estate called "90/70 policy":

In 2006, nine ministries and commissions, including the Ministry of Construction, jointly formulated the "Opinions on Adjusting the Housing Supply Structure and Stabilizing Housing Prices" through the "Thunderbolt" approach. It stipulates that "from June 1, 2006, for the construction of commercial housing newly approved and started, the proportion of the area of housing (including affordable housing) with a building area of less than 90 square meters must reach the total area of development and construction. More than 70%." This is commonly known as the 90/70 policy.

Especially in a densely populated city like Beijing, most houses are less than 90 square meters.

Therefore, the scope of house purchase is limited to 90 square meters. This restriction will affect the calculation of some taxes and fees later.

In Beijing, when it comes to the choice between new houses and second-hand houses, most people will choose second-hand houses. The location of new houses is generally relatively remote, and quite a lot of them are very expensive, so we will talk about "second-hand houses" later.

In addition, there is also a big gap between the purchase of the first set and the second set of houses. Unless otherwise specified in the following, it is the "first set".

3. Housing ownership

Secondly, there are many housing ownerships in Beijing, as many as a dozen types. The common ones are commercial housing, limited-price commercial housing, affordable housing, and purchased public housing. Housing with different ownership will lead to different taxes and fees. Sometimes the same residential area There will be different ownership, and the total house price looks similar, but the tax and fee may vary by hundreds of thousands or even millions.

The animation below is an example. In the same community, the house types are very similar, and the total price is 4.45 million. However, if you look closely at the ownership, the first one is "commercial housing", and the tax is 36,000, while the second one is "price limit". "Commercial housing", the tax fee is 1.086 million, a full difference of 1.05 million.

For the sake of simplicity and my current understanding of house purchase knowledge, unless otherwise specified, I will talk about "commercial housing". If I have the energy in the future, I will study other ownership rights and share them with you.

4. Several prices

Transaction price: the price that both parties negotiated and need to actually pay
Online signing price: inform the country of the price, and various taxes and fees are calculated based on this base. The part of the transaction price that exceeds the online signing price is generally written into the contract in the name of decoration costs and equipment fees.
Appraisal price: The price of the property in the mind of the bank, and the loan is based on this base, usually 10% or 95% off the transaction price

5. Ordinary residence/non-ordinary residence

When calculating taxes and fees, a very critical condition is whether the house is an ordinary residence or a non-ordinary residence.

Ordinary residences need to meet three conditions:

Building area not higher than 140㎡
Floor area ratio not less than 1.0
Compared with the housing in the same area enjoying preferential policies, the actual transaction price of ordinary houses is not higher than 1.2 times their average transaction price. Specifically:

1) The signed price on Wuhuan intranet shall not exceed 4.68 million or the unit price shall not exceed 39,600 yuan/square meter

2) The signing price of the fifth to sixth ring network shall not exceed 3.744 million or the unit price shall not exceed 31,680 yuan/square meter

3) The signing price of the sixth ring external network does not exceed 2.808 million or the unit price does not exceed 23,760 yuan/square meter

If the above three conditions cannot be met at the same time, the house will be defined as "non-ordinary residence".

Conditions 1 and 2 can be satisfied in most cases, and condition 3 depends on the situation.

In the actual transaction process, the intermediary will suggest that the total price of the contract signed online be below the above condition 3, so that the house can be designated as an "ordinary residence" to save a lot of taxes and fees.

6. Taxes

After the ownership is delineated as "commercial housing", the tax and fee rules are relatively clear. There are mainly three types of taxes and fees for commercial housing:

1. Deed tax (buyer's first home)

Less than 90 square meters shall be paid at 1% of the online signing price
1.5% of the online signing price for less than 90 square meters

2. Value-added tax and additional tax (5% is value-added tax and 0.3% is additional tax):

Is it an ordinary residence	Is it over 2 years	VAT and surcharges
yes	yes	0
no	yes	(Online price - original value)/1.05×5.3%
-	no	Online signing price/1.05×5.3%

3. Personal income tax, to see if it is the only real estate of the seller, and the seller has obtained the real estate certificate for 5 years, that is, it meets the "full five only" and personal income tax is 0, if it does not meet the "full five only":

Original value: (online signing price×0.9-original value-original deed tax-loan interest paid by the owner)×20%
No original value: (online signing price - this value-added tax) × 1%

It can be seen from the above that when we meet the "full five uniqueness", the value-added tax, additional tax and personal income tax will be 0, so when buying a house, give priority to the "full five unique" house. (It is said that the value-added tax and additional tax and personal income tax are borne by the seller, but in fact they are all included in the price, and the buyer is also paying)

7. Agency fee

According to the charging standard of a large intermediary, the agency fee is 2.2% of the total transaction price, which is still a guaranteed service fee of 0.5% of the total transaction price, and the intermediary fee rate is 2.7%.

8. Total cash reserves

Total cash provision, which is the cash that needs to be prepared before buying a house, including net down payment, taxes and broker fees.

Net down payment = total house price - appraised price × (1 - loan ratio)

The loan is based on the appraised price, the down payment ratio for ordinary houses is 35%, and the down payment ratio for non-ordinary houses is 40%;

The tax is calculated based on "full five only" and the house area is less than 90 square meters, which is 1%;

The intermediary fee is calculated at 2.7%.

Total Cash Ready = Net Down Payment + Taxes + Broker Fees

In fact, for the sake of safety, no less than 100,000 yuan should be prepared on the basis of the total cash reserve for other possible expenses and possible purchases of decoration, home appliances, and furniture. This article does not consider such expenses.

9. Total Loan

Total loan amount = total house price - net down payment = appraisal price × (1 - loan ratio)

Pay attention to the appraised price when taking out a loan. The appraised price is generally 90% to 95% of the total price, but some old and small ones will give a lower appraisal factor.

10. Provident fund loan

Provident fund loans in Beijing are divided into state-managed provident fund and city-managed provident fund. I am personally managed by the city. The current policy is: the loan can be 100,000 yuan per year, and the upper limit is 1.2 million yuan. I have been working for the 4th year now, and the provident fund has been paid for 3 years and less than 4 years, which means I can borrow 400,000 yuan.

If I take out a loan at this time next year, I can borrow 500,000.

The current benchmark interest rate of the provident fund is 3.1%

11. Commercial loan amount

Provident fund loans are definitely not enough, so business loans will definitely be involved.

Commercial loan amount = total loan amount - provident fund loan amount

It should be noted here that there is also an upper limit on the amount of commercial loans, as mentioned in many materials

The maximum loan within the Fifth Ring Road can reach 3.04 million, and the loan outside the Fifth Ring Road can only be 2.43 million

But after careful study, this is actually an artificially set indicator. Do you still remember the boundary between ordinary residences and non-ordinary residences?

Inside the fifth ring: 4.68 million, outside the fifth ring: 3.744 million

Calculated according to the maximum loan ratio 1-35%=65%:

Inside the fifth ring: 468×65%=3.042 million, outside the fifth ring: 374.4×65%=2.4336 million

Have you found it? "The maximum loan amount within the fifth ring road can be up to 3.04 million, and outside the fifth ring road can only be 2.43 million." In fact, the upper limit of the loan amount is limited to ordinary residential conditions.

In fact, if you buy a non-ordinary house, you can borrow more money. Of course, your taxes (mainly value-added tax and additional tax) will change from 0 to a real number.

12. Loan term

There are 3 factors that affect the loan period:

1. House age: generally within 30 years; calculation of the longest loan period:

Loan period + house age < 50 (there are differences among banks)
Brick-concrete structure (hybrid structure): 47 years - house age
Steel concrete: 57 years - house age

2. Borrower's age: generally up to 65 years old, the longest loan period calculation: loan period + borrower's age < 65 years old, some banks can relax to 70 minus age

3. The longest period shall not exceed 25 years

The first one is said to be used when using provident fund loans and combined loans, that is, try to buy a newer house, and generally you can borrow for 25 years.

13. Commercial loan interest rate

The current commercial loan interest rate is LPR+ basis points, and each basis point is one ten thousandth.

The LPR is unified across the country, and the base point varies greatly depending on the city, the mortgage bank, and the personal reputation. In some places, the base point can even be negative.

The LPR keeps changing, but the base point remains the same until you pay off the loan.

At present, the mainstream base point in Beijing is 55, and the latest LPR is 4.2%, that is, commercial loan interest rate=4.2%+55/10000=4.85%

14. Repayment of principal and interest in equal installments

Equal repayment of principal and interest means that during the repayment period, the monthly repayment is the same. In this way, most of your money in the early stage is paid in interest.

Monthly repayment amount equal to principal and interest = loan amount × (monthly interest rate × (1+monthly interest rate)^number of repayment months)/((1+monthly interest rate)^number of repayment months-1)

Monthly interest rate = annual interest rate/12

15. Equal principal repayment

Equivalent principal repayment is to divide the total amount of the loan into equal parts during the repayment period, repay the same amount of principal and the interest of the remaining loan in that month, so that the monthly repayment principal amount is fixed, and the interest Less and less, borrowers are under greater repayment pressure at first, but as time goes by, the number of monthly repayments becomes smaller and smaller.

Monthly repayment amount equal to principal and interest = loan amount / number of months of repayment + (loan amount - repaid loan amount) × monthly interest rate

Equivalent principal and interest first month repayment amount = loan amount / number of repayment months + (loan amount) × monthly interest rate

Repayment amount reduced each month compared with the previous month = loan amount / number of repayment months × monthly interest rate

16. Portfolio loan summation

As far as I know, the combination loan must have the same loan period, but the repayment methods used for provident fund loans and commercial loans have not been said to be consistent. For the sake of simplicity, the calculation of the subsequent combination loans uses the same repayment method computational.

After doing so much study and preparation, we can finally figure out how much it costs to buy a house in Beijing.

Here we repeat the qualification:

second-hand housing
Commodity housing
normal housing
Area less than 90 square meters
Appraisal price ratio 0.9
Five or more only (1% tax)
Agency fee 2.7%
35% down payment
The loan period is 25 years (the number of loan months is 300 months)
Provident fund loan 500,000
Provident fund loan interest rate 3.1%
Commercial loan interest rate 4.85%

Based on the above conditions, I made an Excel with functions, which can input relevant parameters to automatically calculate the total cash reserve and the amount of money required for monthly repayment .

Note that in the table, the unit of the column marked red is yuan, and the unit of other columns involving money is ten thousand yuan

Since the bank requires that the monthly repayment cannot exceed half of the lender's monthly income when taking out a loan, here we can see the total price of the house we can buy at most.

Here we can see that when the total price of the house is greater than 4.2 million, the total loan amount has exceeded 2.43 million. At this time, only houses within the Fifth Ring Road can be guaranteed to be ordinary houses.

In addition, I added three columns of "Monthly Provident Fund", "Monthly Rent", and "Extra Repayment". What does this mean? The provident fund is the main force for repayment. In addition, after buying a house, there is generally no need to rent a house. The original rent can be used to repay the mortgage.

Additional repayment = equal principal and interest total - monthly provident fund - monthly rent, you can see the real "erosion" degree of the mortgage on your income.

When the total price of the house exceeds 4 million, it is difficult to rely on one person's income. It is best for two people to have a relatively stable income, accumulate the cash that needs to be prepared in the early stage, and repay the mortgage together.

In this table, you can continue to adjust parameters, such as loan ratio, commercial loan interest rate and other parameters, and the monthly loan repayment amount will be automatically calculated.

Follow this official account "狷解", and reply "Beijing Mortgage Loan" with 4 characters to get this form. There are functions in the form, which can be refreshed directly after setting the parameters.

postscript

In fact, I have no plans to buy a house in the near future. I just feel that I have been in a daze. I don’t know how much money I need to save and what income I have to reach before I have the opportunity to go to the real estate market.

Before writing this article, I spent a lot of time studying and researching, and I really found that buying a house in Beijing is not an easy thing, and I finally understood why the intermediary dared to charge such a high amount of intermediary, because the rules are too complicated.

I think of the words of management guru Peter Drucker: "If you can't quantify something, you can't improve it." Now that you know the cash you need to prepare for buying a house in Beijing and the income required for monthly repayments, you Just work hard in this direction.

Come on, let's encourage each other.

How much does it cost to buy a house in Beijing?