With the housing subsidies and assistance programs the national government has rolled out over the past year, two types of housing have gained far more prominence: VIS (social-interest housing) and non-VIS. Even so, many people still don’t know what each one involves or how they differ when it comes to searching for and then buying a home. Owning a home is undoubtedly one of the most cherished dreams of Colombians, who are constantly looking for the chance to own property within their means.
That is where an option known as Vivienda de Interés Social (VIS), Colombia’s social-interest housing, comes in. A VIS housing project is one whose maximum price does not exceed 135 monthly minimum wages at the time of delivery. Access to VIS homes usually comes through government subsidies, which Cajas de Compensación Familiar (family compensation funds) grant to their members. In addition, the Fondo Nacional de Vivienda (National Housing Fund) awards the Urban Housing Subsidy to people who are not affiliated with a family compensation fund.
Non-VIS housing, on the other hand, is aimed at higher-income buyers. On average it costs more than 135 or 150 minimum wages, depending on where it is built, and it does not exceed a ceiling of 500 minimum wages.
For buyers of non-VIS homes, the government also offers a subsidy worth 42 minimum wages, applied to the interest on the loan during the first 7 years. In other words, it covers the first 84 monthly installments at $454.263 per month, for a total of $38.152.092 pesos. Housing projects now in planning and under construction are real options for anyone looking to own a home, a goal that is within reach today.
Source: www.metrocuadrado.com
