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What are the benefits of acquiring a formal home?

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According to figures from the Peruvian Chamber of Construction (CAPECO), 80% of homes in Peru are informal constructions, this could bring future complications such as homes more likely to suffer serious damage from natural disasters. Besides, the Association of Real Estate Companies of Peru (ASEI) indicates that the costs of basic needs increase up to 10 times more in informality.

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We tell you below the short and long-term benefits of building a formal home. Among them are dealing with land trafficking and positively improving the country’s economy.

Advantages of having a formal home

Review the benefits of acquiring a formal home according to the Association of Real Estate Companies of Peru (ASEI):

  • Quality Construction: a formal home is backed by quality construction. In this way, it would imply a safe and profitable long-term investment, since its value tends to increase over the years.
  • Positive impact on formality in the country: By purchasing a formal home, you can deal with land traffic. Likewise, formality generates on average more than 13,600 new homes per year, which has a positive impact on the country’s economy.
  • Ease of basic services and legal documentation: With a formal dwelling, there is access to legal security, sound administrative documentation, water, drainage, electricity, gardens, among others. In addition, the housing projects have common areas for a better quality of life.
  • Financial benefits: real estate agencies together with banks and the State offer financial benefits and payment facilities.

Source: Larepublica

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