The expert called the hidden risks of buying a home without a mortgage

Against the background of a high key interest rate in the new building market, the share of alternative housing purchase schemes is growing, but such tools carry additional risks for buyers. Leonid Waldstein, sales director of developer Dar, told Izvestia about this on April 19.

"Installments formally look like an alternative to a mortgage without bank interest. But in fact, it is a tool with a deferred solution," he said.

According to the expert, today some buyers are applying for a mortgage with the expectation of lower rates and subsequent refinancing, but such expectations are not guaranteed. A similar situation exists with installments, where the financial burden is shifted to the future.

Waldstein explained that by the time of the final payment, the buyer may have a limited choice between applying for a loan on market terms or withdrawing from the transaction. At the same time, both instruments depend on the dynamics of the key rate.

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The expert added that the trade-in scheme remains a niche one and occupies about 10% of the market due to the complexity of the transaction and the dependence on the situation in the secondary market. At the same time, possible losses during the sale of an old apartment can be compensated by discounts from the developer.

According to him, mistakes when buying a home depend on the purpose of the transaction. In investment purchases, it is common to focus on the minimum price, which does not always provide maximum returns.

"Some buyers are guided by the cost of 10-20% below the market and have been postponing the deal for years, not accepting the current reality. With steady price growth, this gap is only widening. As a result, the purchase is becoming less and less affordable, despite the savings," the specialist emphasized.

He noted that the opposite mistake is an overestimated perception of the inaccessibility of the market, which is why buyers also postpone the purchase of housing.

On April 15, it became known from the documents of the Central Bank of Russia (CBR) that, as of February 2026, mortgage issuance to residents of the Republic of Ingushetia and the Nenets Autonomous Okrug (AO) increased sharply — almost twice as compared with January. At the same time, the lowest rate was recorded in Kabardino-Balkaria, the Tyumen Region and Kalmykia.

Analysts of the M2 real estate ecosystem reported on April 10 that Moscow, the Moscow region and the Krasnodar Territory have become leaders in demand for family mortgages in 2025. Additionally, Tatarstan, Bashkiria and the Leningrad Region entered the top 10.

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