Que es mejor comprar o alquilar

Estamos viviendo posiblemente en uno de los países con mayor cultura de compra de vivienda de Europa. Existe el dicho que alquilar es sinónimo de tirar el dinero por la ventana. Está mal visto y muchas veces pensamos que comprar es siempre lo correcto. Debido a esta cultura siempre en España se tiene el ojo puesto en cómo evoluciona el sector inmobiliario. Hoy vamos a hablar con detalle si comprar vivienda puede o no ser la mejor opción en términos de rentabilidad.

“Dicen que alquilar es tirar el dinero

Me gustaría hacer una pequeña reflexión sobre el mercado inmobiliario en España. Normalmente la primera vivienda se adquiere en una edad joven, mayormente tras el matrimonio. Es la primera compra que realiza la pareja y también normalmente la de mayor importe. Es en esta edad cuando profesionalmente no se cuentan con grandes ingresos pero sí con ganas de trabajar. Estas viviendas suelen tener precios elevados de compra especialmente en grandes ciudades necesitando préstamos de hasta 30 años. Esto conlleva a que lo primero que comparte la pareja es una deuda “para toda la vida”. Ahora nos preguntamos: ¿Viviremos allí toda nuestra vida? ¿Los próximos 30 años? ¿Qué cambios nos vendrán en el futuro?

El precio medio de la vivienda en el sector inmobiliario, como hemos visto en la pasada crisis inmobiliaria, puede variar. Esta fluctuación en el precio la dictamina la ley de la oferta y la demanda, pero, ¿quién controla la demanda? La demanda se controla por la facilidad de crédito que tengan las familias para comprar. Este acceso al crédito lo regulan los bancos de tal manera que conforme más dinero haya en circulación más compradores hay. Por tanto cuando bajó la compra de viviendas fue porque no había crédito, pero las ganas de compra siempre están presente.

Cómo analizar si es mejor comprar o alquilar

Ahora sí vamos a ver qué pasos recomiendo hacer para ver si es mejor comprar o alquilar.

  1. Supongamos que la casa que queremos comprar estuviera en alquiler. ¿En cuánto se alquilaría? Esto podemos verlo buscando casas similares a través de los portales inmobiliarios y viendo en cuánto se alquila una casa de igual características. Tras haber visto varias en la misma zona tendremos un precio aproximado.
  2. Preguntamos a las inmobiliarias de la zona en cuánto se podría alquilar. De esta forma precisamos la información del punto 1.
  3. Calculamos el importe anual vía alquileres en caso de que estuviera alquilada. Es decir, la mensualidad x 12.
  4. Calculamos su rentabilidad dividiendo el importe anual de alquiler entre el precio de compra.
  5. Eso nos dará un porcentaje el cual recomiendo que lo deseable es que sea igual o superior a 6%.

Ese 6% se corresponde a la rentabilidad mínima que recomiendo exigirle a una inversión inmobiliaria. Vamos a poner un ejemplo práctico con unos números reales.

¿Cómo calcular el precio justo si vais a comprar una casa?

Esta valoración se calcula:

Alquiler estimado que nos daría en un año / 0,06 = Precio justo de compra.

Ese 0,06 (6%) se corresponde a la rentabilidad mínima que recomiendo exigirle a una inversión inmobiliaria. Tras ese sencillo calculo nos dará una cifra y todo lo que quede por encima sería sobre pagar dicho inmueble en términos de rentabilidad (no especulación).

Os muestro un ejemplo práctico que siempre me gusta exponer:

Vemos un piso que nos gusta y vemos que puede ser nuestra vivienda por los próximos años. Nos costaría 250.000€. El paso siguiente es preguntarnos en cuánto se alquilaría esa vivienda. Para ello lo mejor es mirar viviendas lo más parecidas posibles, bien sea a través de agencias, visita a pie o a través de portales inmobiliarios. Analizamos un poco y vemos que ese piso se alquila en 600€. ¿Es mejor comprarlo o alquilarlo? Vamos a verlo:

Rendimiento bruto: 600€ x 12 meses = 7.200€

Cálculo del precio de compra: 7.200€ / 0,06 = 120.000€ sería el precio que estaría dispuesto a pagar por él y estaría dentro de la rentabilidad exigida. Por tanto esa vivienda recomendaría alquilar antes que comprar (quitando factores subjetivos como dije antes).

Imaginemos otro caso práctico:

Mi vecino ha comprado y yo alquilado. Tengo a mi vecino que está viviendo en un piso exactamente igual al mío y por el que ha gastado 250.000€. Nosotros igualmente hemos querido gastar ese dinero pero en lugar de ese piso hemos invertido en dos locales comerciales de 100.000€ cada uno y 50.000€ en acciones en Bolsa.

Supongamos unas rentabilidades muy conservadoras y por debajo de la rentabilidad mínima del 6%:

Local comercial 1 nos deja un 4,5%: 100.000€ x 4,5% anual = 4.500€

Local comercial 2 nos deja un 5%: 100.000€ x 5% anual = 5.000€

La cartera de acciones nos deja un 6,5% en forma de dividendo: 50.000 x 6,5% = 3.250€

Total: 12.750€ año. O lo que es lo mismo: 1.062,5€ mensuales.

En las viviendas los números dan la razón al alquiler

Vemos un piso que nos gusta y que puede ser nuestra vivienda. El precio es de 250.000€ ya con gastos. Buscamos viviendas similares próximas, bien sea a través de agencias, visita a pie o a través de portales inmobiliarios. Analizamos un poco y vemos que ese piso se alquila en 600€. Hacemos nuestros cálculos:

  1. Rendimiento bruto: 600€ x 12 meses = 7.200€
  2. Rentabilidad: 7.200€/250.000€= 2,88%

Vemos que la rentabilidad es inferior al 3% por lo que en este caso no recomendaría comprarla. Es preferible invertir en otro tipo de producto para sacar más rentabilidad y vivir en esa vivienda de alquiler. Hace un par de semanas hablamos de los diferentes tipos de inversiones inmobiliarias en donde ya vimos que la vivienda es de las menos rentables. Por tanto en caso de querer obtener más rentabilidad aconsejo otro tipo de productos inmobiliarios.

Decisión a largo plazo, mejor comprar

En el medio y largo plazo una mayor rentabilidad a nuestras inversiones desde el primer día nos permitirá alcanzar antes la libertad financiera. Puede parecer poca la diferencia de un 3 o un 7% pero si lo calculamos es mucho dinero al cabo de 10 años.

Si en nuestro ejemplo anterior la rentabilidad hubieras alcanzado el 6% o más entonces es una oportunidad para invertir en dicha vivienda. En caso de querer utilizarla nos permitirá ser nuestro “propio inquilino” y posteriormente alquilarla para obtener una buena rentabilidad.

Feliz semana!!

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