For families about to buy a home, the CSOK (Family Homeownership Allowance) is undoubtedly an attractive option. However, it is worth considering not only the level of support, but also the long-term effects, as buying with a CSOK can bring with it different requirements and benefits that can affect both the possibilities and plans of buyers. In this article, we present in detail the advantages and disadvantages of buying with and without a CSOK to help you make the right decision.
Buying with CSOK: advantages and challenges
CSOK not only provides financial support, but also offers a range of advantages when buying a property. However, it is important to understand that this form of support may come with some conditions and restrictions.
1. Conditional sale
A property purchased with a CSOK cannot be sold without full or partial repayment of the subsidy for 10 years. If you are planning to sell or move in the future, it is important to consider how these conditions may affect the future saleability of the property.
2. More competitive offers
For new-build housing, the use of the CSOK often puts buyers in a better bargaining position. For sellers, financial security means more certainty, making it easier for CSOK buyers to secure better offers or price negotiation opportunities.
3. Value-adding factor
The CSOK is typically used for the purchase of modern, energy-efficient housing. This energy efficiency and sustainability factor increases the long-term value of the property, as demand for modern and environmentally friendly properties is constantly increasing.
4. Unforeseen life changes and CSOK conditionalities
Life is unpredictable, so it is important to be prepared for unexpected situations when buying a home. In the event of a divorce or a major life change, there can be serious obstacles to selling the property purchased with the CSOK or to terminating the ownership of one of the parties. In such cases, it may be necessary to repay all or part of the subsidy, which can be financially burdensome and limit the parties’ options for future real estate decisions.
Buying without CSOK: Flexibility and freedom
Buying without CSOK offers greater flexibility in terms of both property use and financing. Let’s see the benefits of not taking advantage of this support.
1. Costs and creditworthiness
If you do not use the CSOK, you have more flexible financing options, especially for higher loan amounts. This will make it easier for people who cannot meet the conditions of the CSOK to buy a property.
2. Freer use
Without a CSK, buyers are free to decide how they want to use their property. Whether they are planning to rent or sell in the short term, a property without subsidies offers greater flexibility as it is not restricted by the conditions and time constraints of the CSOK.
3. Less competition in the property market
The CSOK is mainly used for the purchase of newly built housing, so there is often less demand for second-hand housing. This may mean a more favourable bargaining position for those considering second-hand properties, as fewer interested parties may create better opportunities for price formation.
How to choose? With or without CSOK?
The decision depends on your long-term goals and financial means. CSOK is undoubtedly a great help in starting a family and creating a home, but the conditions and restrictions attached to it can have a serious impact on the future saleability or usability of the property. For those who want more freedom in the use of their property and do not necessarily require state support, buying without a CSOK may be a better option.
If you are unsure which route is right for you, seek advice from a real estate expert who can help you consider the pros and cons of both options tailored to your individual situation.
If you have any questions, contact us with confidence and we will help you find the best solution!
