Is a mortgage enough to buy a home? Our perspective on the property market

By Hélène Montourcy — CALISTA Inmobiliaria

Marcelo Wagner’s analysis, published by Forbes Paraguay on October 3, 2026, highlights an important challenge: access to mortgage financing does not guarantee that a family can cover the difference between the loan and the apartment’s price. His study examines first-time purchases of newly built homes in the Asunción metropolitan area.

At CALISTA Inmobiliaria, we believe this discussion deserves attention. It should also help buyers ask the right questions and assess their circumstances clearly.

Set your budget before you start searching

Before viewing apartments, it is worth determining how much you can commit to a purchase without putting your household finances under strain.

That calculation requires looking beyond an advertised monthly payment: documented income, existing financial commitments, available savings and purchase-related costs. It should also leave room for unexpected expenses and the ongoing costs of living in the property.

The amount a lender is willing to offer does not always match the budget a family can comfortably afford.

The gap between the price and the loan

A common misconception is that buyers only need to save the minimum deposit required by the bank.

However, if the approved loan is smaller than expected, the buyer will need to contribute more of their own money. Before reserving a property, it is therefore essential to understand how much financing you could realistically obtain and which conditions apply to the home you have chosen.

An initial mortgage estimate is a useful starting point. A lender’s assessment provides a firmer basis for moving forward.

Broadening your search can reveal alternatives

A purchase involves several considerations: location, floor area, property condition, amenities and completion date.

Comparing a new development with an existing home, or exploring other areas, can reveal options worth considering. However, a lower price should also be weighed against potential renovations, maintenance costs, transport expenses and commuting time.

The useful question is: which home meets my needs and fits my overall budget?

Buying off-plan: plan the payments carefully

An off-plan purchase may allow buyers to spread some payments over the construction period. For certain buyers, that schedule makes it easier to organise their savings.

However, spreading payments does not, by itself, reduce the financial commitment. Buyers need to check how much is payable during construction, what balance remains at completion and how that balance will be financed.

They should also review the project documentation, contractual obligations, deadlines and consequences of delays. If the purchase depends on obtaining a mortgage later, that dependency should be clearly understood from the outset.

For investors, the calculation is different

Anyone buying to rent out a property should assess the purchase price alongside its expected income and expenses.

The assessment should account for vacancy periods, maintenance, property management and other costs borne by the owner. It also requires checking what rent the market can support for that particular unit and location.

The need for housing does not, on its own, guarantee that every apartment will be a profitable investment. Each investment deserves its own calculation.

Our position

The discussion about housing affordability is necessary. For buyers, developers and lenders, it raises a question that calls for practical answers: how can the homes being offered better match the financial means of the people who need them?

At CALISTA, our role is to help each client define their budget, compare properties and understand the terms of each transaction.

Buying requires information, preparation and a choice suited to each person’s circumstances. That is the starting point for making a confident decision.

Thinking of buying a home or investing? CALISTA Inmobiliaria helps you assess the options according to your budget and your goals.

www.calista.com.py

Reference: Marcelo Wagner, “La paradoja inmobiliaria: hay más crédito para vivienda, pero no alcanza para comprar el departamento,” Forbes Paraguay, October 3, 2026. This article presents CALISTA Inmobiliaria’s perspective and recommendations.