My Experience with Subsidized Housing

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 Hi Guys. In this article today i want to share with you a little bit about my experience with the government housing scheme. As one of the benefits offered to government employees, the Housing Scheme, aslo known as HOSSM is more complicated than it seems. 

I was encourgaed to use my housing allowance while i was still young so that i can enjoy the benefits of qualifying for a larger home loan than if I were older. Therefore I decided to apply for the Housing Subsidy and try to purchase a property. Upon applying for the subsidy, i began to understand that the amount the i qualify for was determined by factors such as deductions on my salary, my net pay and loans or additional credits I have outstanding. These all contributed to decreasing the Home Loan amount any bank was willing to grant me. The amount that I qualified for eventually was only enough to purchase a property that either needed additional renovations and constructions, or a property in a town where there i s less of a demand in housing, towns such as Arandis, Uis or Karibib.

I would likr to live in Swakopmund, however this time is a tourist destination and property is quite expensive here. My options are either to buy a low income house with the mass housing programs and possibly wait years for such an opportunity to avail itself, or to buy a property in an undesirable location which may need extra renovations. 

I am still excited to use this opportunity however, but please feel free to advise me on this issue. I do consider a home a very big buy and location is extremely important. Please do comment and let me know what your views are.


Chao.


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