Tips for buying your dream home today. Let's focus on and apply these 3 basic things!
Having your own home sweet home is certainly the dream of every single one. Unfortunately, the price of nowadays’s properties requires you to spend a lot of money to make it comes true. There are a few things you need to know and notes before buying a home in the near future.
1. Saving Money
Right before saving some money for buying your own home, make sure you have no debt, both productive and consumptive. Especially debt in banks is simply because every application for a mortgage (KPR) to a bank needs to pass BI checking by Bank Indonesia to determine eligibility. Along with that, you need to save at least 10% or 20% of your income to pay the down payment.
Right before saving some money for buying your own home, make sure you have no debt, both productive and consumptive. Especially debt in banks is simply because every application for a mortgage (KPR) to a bank needs to pass BI checking by Bank Indonesia to determine eligibility. Along with that, you need to save at least 10% or 20% of your income to pay the down payment.
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3. Adjust Your Income
Determine the price of the home you can buy based on your monthly income. Do not trap in a house poor term where you need to spend a large portion of your monthly income to pay the mortgage while other living needs are neglected. To avoid that trap, make sure your installment is below 30% (of your monthly income). If you find your home installment more than 30%, it probably ended with bad credit.
Determine the price of the home you can buy based on your monthly income. Do not trap in a house poor term where you need to spend a large portion of your monthly income to pay the mortgage while other living needs are neglected. To avoid that trap, make sure your installment is below 30% (of your monthly income). If you find your home installment more than 30%, it probably ended with bad credit.
Photo by Morgan Housel on Unsplash
3. Prepare For The Down Payment
If you really want to buy your own home, it can be seen by how you prepare a down payment. The bigger the down payment you pay, the lower the installment you need to pay every single month. It could be great if you can save a down payment (30% of your monthly income) within one or two years before you decided to buy your own home.
If you really want to buy your own home, it can be seen by how you prepare a down payment. The bigger the down payment you pay, the lower the installment you need to pay every single month. It could be great if you can save a down payment (30% of your monthly income) within one or two years before you decided to buy your own home.