The house is red with payment: why modern youth are afraid of mortgages
Attitudes towards mortgage loans in Russia are directly correlated with age. The experts of the developer Level Group came to this conclusion after conducting a survey among the population. Russians over the age of 29 regretted not taking out a mortgage in their early youth. However, zoomers and late millennials still consider her a "cabal." In youth, mobility and lack of long-term commitments are more often a priority, but over time, the value of stability and having your own asset increases, experts say. In many ways, the change in the perception vector is also due to the fact that financial literacy is getting stronger as we get older, they point out. Izvestia found out whether a mortgage is profitable for young people today.
A matter of priorities
43% of citizens over the age of 29 regret that they did not take out a mortgage in their early youth. Only 23% of Russians have maintained a consistently negative attitude over the years, still believing that renting is more profitable and gives more freedom. For every second zoomer (49%), the word "mortgage" is still synonymous with "bondage." This is evidenced by the results of a survey conducted by the developer Level Group.
The study showed a drastic shift in the perception of credit obligations — after 10 years, the majority of respondents saw the mortgage as a lost benefit or the only option to get their own apartment.
— Age works as the main sobering factor. We see a clear transformation of consciousness: what seems like a limitation at the age of 20 begins to be perceived as a missed opportunity by the age of 30," says Julian Ovechkin, head of mortgage Department at Level Group.
The attitude towards mortgages of young people aged 18 to 28 looks like a mirror image of their parents' fears, the authors of the survey indicate. Almost half of the respondents in this age group believe that a mortgage will be the "end of freedom" and will bind them to their current workplace for decades.
One third of young people (33%) see mortgages as boring adult responsibilities. And only 10% consider such loans to be necessary, although not an ideal tool.
— For generation Z, mobility and mental comfort have become the main "currency", not square meters. The fear of a mortgage is not a fear of responsibility, but a fear of losing variability. Zoomers are used to living in the paradigm of the sharing economy, where any service can be "canceled" with one click. Mortgages are perceived as a "subscription" that cannot be abandoned without losses, which comes into direct conflict with their basic need for freedom to move and change career paths," the Level Group's press service says.
At the same time, the survey showed that for 8% of zoomers and early millennials, a mortgage is an unaffordable dream today, since rates and prices do not leave them the opportunity to purchase real estate in this way.
Age directly affects attitudes towards mortgages and rentals, confirms Olga Strechnaya, a real estate market expert and founder of the Stretch Estate real estate agency.
— In youth, mobility and lack of long-term commitments are more often a priority, but with age, the value of stability and one's own asset increases. That is why, after 30, many regret that they did not fix the cost of housing earlier, with lower prices and less competition," she believes.
This is largely due to the fact that financial literacy grows stronger with age, Ovechkin draws attention. When you're young, the planning horizon is one to two years, and renting seems like a logical option, but things change over time.
Nikita Zhuravlev, an independent expert on the real estate market, connects the changes in attitudes towards mortgages with financial literacy.
— Young people do not understand how to invest, how to work with different financial instruments, how to form a family budget, etc. With age, this understanding comes, as well as certain vital needs arise, the instrument for achieving which is a mortgage," he explains.
As a rule, the situation with the perception of mortgages among young people changes with a change in family status, Ovechkin clarifies.
— The appearance of children usually immediately "switches the toggle switch". According to our internal data, one in five Russians changes their attitude towards mortgages in a positive way after the birth of a child," says the expert.
For young people, the "own space" factor is also important, Strechnaya admits, but it competes with the need for freedom to move.
— While there is no family and no connection to the place, renting is perceived as a more comfortable format. However, as you get older, your own home begins to be associated with security and support," the Izvestia interlocutor agrees.
In the short term, mortgages do reduce flexibility, creating difficulties when changing cities, countries, or fields of activity, she admits. But in practice, these difficulties are not as terrible as it might seem at first glance.
— Mortgages have ceased to be a "prison" — in agreement with the bank, an apartment can be sold, rented or refinanced, so a tight attachment to a place is more of a psychological myth than a legal reality, — Ovechkin is convinced.
The impact of mortgages on mobility, career plans and personal freedom largely depends on a person's attitude, Zhuravlev is sure.
— Like a simple consumer loan, a mortgage does not interfere with freedom of movement. And the burden on the personal budget returns to financial literacy and a vision of tomorrow," the expert emphasizes.
An expensive pleasure
Inflation also works in favor of mortgages, being a hidden ally of the borrower, notes Julian Ovechkin. The value of the asset and the amount of the payment are fixed on the day of the transaction, he recalls.
— In 5-7 years, taking into account inflation, this payment will "weigh" significantly less in a person's budget than it does today, and the apartment is likely to rise in price, — says the interlocutor of Izvestia.
At the same time, rents are indexed following inflation and rising utility tariffs almost annually, he points out.
— Those who took out a mortgage 10 years ago are now paying the bank amounts that seem ridiculous compared to the current prices for renting similar apartments. This is confirmed by 34% of the participants in our survey, who realized this mechanism only with age," Ovechkin emphasizes.
Rental rates have made a huge leap up in recent years, Nikita Zhuravlev recalls. And the increase in mortgage rates contributed to this situation.
— Previously, monthly mortgage payments averaged rent payments, but at a high rate they increased significantly. This made the lease more profitable, which is why its cost also went up," the expert explains.
Inflation is hitting rent harder now, confirms Olga Epifanova, the arbitration manager of the Ministry of Justice of the Russian Federation, an expert at the Agency for Strategic Initiatives, specifying that the cost of renting real estate will soon increase by 10%. At a rate of 14-15%, a mortgage will be fixed as a more advantageous option for 5-7 years.
"As we get older, many Russians recognize that it's a mistake to abandon an early mortgage, because by this point, inflation is turning rent into an unreliable option, and fixed payments are protecting against price increases of 10% this year," she believes.
However, with current parameters, buying a property may become more profitable than renting it only after 7-10 years of ownership, Olga Strechnaya expects. And Julian Ovechkin, in turn, believes that this break-even point has shifted at the current high rates.
— In the case of a market mortgage, at the moment the term of entry into it can stretch up to 12-15 years if early repayments are not made, — warns the interlocutor of Izvestia.
But such a calculation, as the expert emphasizes, is correct only if monthly money flows are compared.
"If we take into account the capitalization of the asset itself (the increase in the price of an apartment), then the purchase can mathematically overtake the lease much earlier — in 5-7 years," Ovechkin is sure.
After weighing all the cons
At the same time, both mortgages and leases have risks, Olga Strechnaya draws attention to. In the case of the latter, the expert sees rising rates and unstable living conditions as key problems. Julian Ovechkin also points to the unpredictability of the external environment as the main risk of renting.
— You may be asked to move out at any time, raise the fee, or you will simply find yourself hostage to a shortage of quality supply in the right area. This is a risk of loss of comfort and stability," he says.
Meanwhile, mortgage risks, according to Strechnaya, include loss of income, high debt burden and unforeseen expenses.
— The decision to obtain a mortgage loan should be made taking into account the life horizon and financial safety cushion. It is always necessary to have a backup option in case of problems," the Izvestia interlocutor is convinced.
Mortgages require iron-clad financial discipline and an airbag for 3-6 months of payments, Ovechkin says. However, it is the fear of losing income and increasing the burden on personal budgets that makes people more responsible about their careers and planning, which eventually turns into a point of growth.
— For 8% of zoomers, this barrier still seems insurmountable, but for an adult it is a manageable risk, — the expert is sure.
Window of opportunity
However, in the case of a mortgage, there is another problem — it is difficult for young people to get it. As of February 2026, it is almost impossible to do this, says Nikita Zhuravlev. And the expert does not recommend taking out a market mortgage at a rate of 20%.
Independently, without an initial contribution of 30-50% and a confirmed income, it is now extremely difficult for a young specialist to get approval for market programs, confirms Julian Ovechkin. It is difficult to get a mortgage even without a stable debt history.
— Banks have redesigned scoring: now they look not only at the work record, but also at the digital footprint, transaction activity, and even the education profile. The complete absence of a credit history is worse today than having a closed credit card or installment plan, since it is the debt repaid on time that generates a positive scoring score in the banking system," explains Izvestia's interlocutor.
The entrance ticket to a mortgage for young people is often programs with co-borrowers-parents or family assistance with a down payment, he notes.
— Every fifth young Russian resorts to this strategy when buying his own apartment. This allows you to combine income and offset the bank's risks associated with a "young and unstable" borrower, says the expert.
Government-supported programs, family mortgages and regional subsidized rates from developers remain the most profitable for young people today, Olga Strechnaya lists.
Ovechkin also considers the family mortgage to be the most effective tool for obtaining mortgages from young people. According to him, the main beneficiaries of the state program at the moment are young families with their first child and couples planning children. But for single people, the "window of opportunity" has narrowed today, the expert admits.
"They should look at special subsidized programs from developers for the construction period, which allow them to comfortably rent housing while their own is being completed,— advises Izvestia's interlocutor.
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