How to buy a house for millennials to be affordable? Here are the Tips!
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People dream about having their own home, especially millennials who already work and earn some money. How do people save some money to buy their dream home while they have daily needs?
1. Save & Plan For Down Payment
Instead of saving some money, most people tend to spend their salary to hang out from one to another café. In fact, the easiest way to save some money from your salary is to set aside (some amount of money) right after payday. You can choose term deposits with auto debit. Usually, time deposits have a minimum period, of 12 months and a maximum period, of 240 months. Every month, the bank takes out money from your account.
Instead of saving some money, most people tend to spend their salary to hang out from one to another café. In fact, the easiest way to save some money from your salary is to set aside (some amount of money) right after payday. You can choose term deposits with auto debit. Usually, time deposits have a minimum period, of 12 months and a maximum period, of 240 months. Every month, the bank takes out money from your account.
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2. Down Payment Instalments
For first-time buyers with unstable financial states, saving for a down payment is a hard thing to do. Do not be afraid, nowadays, there are many developers who offer down payment installments. For example, developers give you 12 months to pay the down payment. Right after you pay off the down payment, you can apply for credit from a bank. The (house) price with down payment installments is higher than without a down payment. Do not skip installments for any reason, once you skip, all money that has been paid cannot be returned.
For first-time buyers with unstable financial states, saving for a down payment is a hard thing to do. Do not be afraid, nowadays, there are many developers who offer down payment installments. For example, developers give you 12 months to pay the down payment. Right after you pay off the down payment, you can apply for credit from a bank. The (house) price with down payment installments is higher than without a down payment. Do not skip installments for any reason, once you skip, all money that has been paid cannot be returned.
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3. Choose A Long Tenor
Another thing you should consider before buying a home is credit tenure. People said if you choose a longer tenor than a smaller installment you need to pay per month. Is it true? Short or long credit tenors are determined by financial stability, each tenor has their own advantages and disadvantages. If you take a long tenor, you can get a minimum down payment, a small installment per month, but there is an interest rate tenor you need to worry about. While short tenor offers a small interest rate tenor. Along with that, the location of your dream home will be determined by tenor credit, if you choose one in Jabodetabek which has an increasing price, it is not a big deal to choose a long tenor credit.
Another thing you should consider before buying a home is credit tenure. People said if you choose a longer tenor than a smaller installment you need to pay per month. Is it true? Short or long credit tenors are determined by financial stability, each tenor has their own advantages and disadvantages. If you take a long tenor, you can get a minimum down payment, a small installment per month, but there is an interest rate tenor you need to worry about. While short tenor offers a small interest rate tenor. Along with that, the location of your dream home will be determined by tenor credit, if you choose one in Jabodetabek which has an increasing price, it is not a big deal to choose a long tenor credit.