Feeling nervous and a bit confused about buying a house? Take it easy, it’s a natural thing.
Buying a house is a big and difficult thing, especially if this is your first experience.
The process of buying a house includes a lot of steps and requirements that you have to do and fulfill. Not to mention the expensive house prices, of course you don’t want to buy the wrong thing and lose money, or be unable to pay the installments in the middle of the road.
To guide you, we’ve put together home buying tips that can give you an idea of the preparations you need to think about right now. Come on, listen!
Choose the right house
Of course, choosing the right home is the first step in buying a home.
There are many aspects that you need to consider when choosing a house, starting from the land area, building area, number of bedrooms, number of floors, to home facilities and housing facilities.
After considering the criteria for the house, you also have to look at the environment.
Here are some things to consider when buying a house:
1. Availability of educational facilities
2. Know the crime rate of the neighborhood
3. Know the health facilities, shopping places, and other public facilities that you need
4. Recognize the level of congestion, noise pollution and environmental noise
After determining the house you want, then we go into the mortgage installment preparation step. Please note, there are generally three ways to buy a house, namely paying in cash, installments in stages and mortgage installments .
For tips on buying a house this time, we present tips on buying a house through mortgage installments because this method of buying a house is the way most people choose.
Choose the appropriate mortgage payment
Home Purchase Credit is the most popular way to buy a house. Now the advertisements for home loans offered by banks are increasingly diverse.
Choosing the right mortgage installment scheme for you is something that requires careful consideration.
Here are the things you should pay attention to when choosing a mortgage loan:
1. Compare mortgage installments between banks
2. Pay attention to the level and type of interest
3. Find out about bank policies when there are changes in interest rates
4. Know the policies, terms and penalties if the mortgage is paid off prematurely
5. Find out the total mortgage costs (appraisal fees, notary fees, deed of sale and purchase of PPAT, etc.)
6. Know the credit terms and documents that must be provided
Of all the tips on buying a mortgage house above, one that is quite important is to pay attention to the interest rate and type.
Don’t get hung up on light interest in the early years of installments because that is an installment promo.
Make sure you estimate your financial ability based on the floating interest rate that you have to pay when the installment promo ends.
Saving upfront
The next step in tips on buying a house is to save a down payment for mortgage repayments.
Installing a Home Purchase Credit is a way to buy a house with a light payment scheme that many people do.
However, even though the payment scheme is lighter, many young people are reluctant when they see the large down payment (DP) costs.
Saving a down payment for a house requires patience. Creating a good savings plan is the key.
Here are the steps for saving a house down payment that can be used as a guide:
1. Know the amount of down payment
2. Determine the amount of money that can be saved from the portion of total income
3. Determine the saving period
4. Use the automatic savings feature at the bank
5. Choose interest rates according to financial capabilities
If you still find it difficult to save your own down payment for your home, you can also make a down payment.
Install a DP house
The next trick to buying a house can be considered for those of you who have trouble saving a down payment for a house. Paying a down payment for a house is a mandatory requirement for mortgage installments.
Seeing that some people are overwhelmed with down payments, some property developers offer installment DP programs.
This down payment installment can be done through the following steps:
1. Installing the DP to the developer, the amount of the DP is in accordance with bank regulations (there are 20% DP, 30% DP and 40% DP)
2. Pay installments during the down payment installment period (the length varies, depending on the developer)
3. After the down payment is complete, submit a mortgage to the bank
Tips on buying a mortgage house by paying in installments can be a solution for those of you who have trouble saving regularly. With down payments, home buyers are “forced” to save.
So , those are tips on buying a mortgage home. We hope this information can help you plan your first home purchase !
