Having own home sweet home is certainly dream of every single one. Unfortunately, price of nowadays’ properties require you to spend a lot of money to make it comes true. There are few things you need to know and notes before buying a home in 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, it simply because every application for mortgage (KPR) to bank needs to pass BI checking by Bank Indonesia to determine eligibility. Along with that, you need to save at least 10% or 20% from your income to pay down payment.
2. Adjust Your Income
Determine price of your home you can buy based on your monthly income. Do not trap in house poor term where you need to spend a large portion of your monthly income to pay mortgage while other living needs are neglected. To avoid that trap, make sure your instalment below than 30% (of your monthly income). If you find your home instalment more than 30%, it probably ended with bad credit.
3. Preparing Down Payment
If you really want to buy your own home, it can be seen by how you prepare down payment. Bigger down payment you pay, lower instalment you need to pay every single month. It could be great if you can save down payment (30% from your monthly income) within one or two years before you decided to but your own home.