8 Tips for buying your first home. Go, hurry up and buy the property

8 Tips for buying your first home. Go, hurry up and buy the property

first home buying tips

Nothing is impossible including buying property. There are a number of tips for buying a first home that you can do now.

For some people, buying a house is still far from being achieved because of the many steps that must be taken.

What to start first, saving a deposit, looking for a houseor improve the financial condition.

Each person’s journey to find a home is different, but it is indeed a very long one.

Because buying a house is not a trivial thing. There are many things to consider before deciding to buy.

Property site www.lacrymosemedia.com will present tips for buying a first home for the millennial generation.

buy a first home easily

Source: Apartmenttherapy.com

Tips for buying your first home easily

1. Knowing financial condition

Try to check first about your financial condition, especially in terms of income and expenses.

Look at it how much income expenses per month. Income is fixed, what about expenses?

Is income always greater than expenses? If so, you can still save, then your financial condition is healthy.

2. Improve Financial Cash Flow

Your financial condition is not ideal. Spending is greater than income or uncontrolled spending.

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Time to fix it cash flow financial to calculate production every month and make savings.

If you can, you can look for a better career, find a side job, own a business, or start a business.

3. Have an Emergency Fund

Before starting to collect a deposit or advance (DP), start having an emergency fund.

The size of the emergency fund is your regular monthly expenses, not your monthly income.

If your income is 5 million IDR per month, your monthly expenses are 1.5 million IDR, then the emergency fund collected is a multiple of 1.5 million.

At least have an emergency fund for three months. The bigger, of course, the better.

Look at the current conditions when the covid-19 virus spread, many employees were laid off (Termination of employment).

An emergency fund serves as a backup when you are out of work, laid off, and more.

tips for buying the house

4. Determine the Property to be Stacked

Do you want buy a house or apartment? If you are single, you can choose a studio apartment.

If you are newly married, the choice is a house or an apartment 1 bedroom or apartment 2 bedroom.

Look for properties that have easy transportation. It doesn’t matter if you live in Citayam, West Java or Cisauk, Tangerang.

Both places can be reached by the KRL (Electric Train) transport line for about 1 hour.

5. Prepare Down Payment

How long should you save a deposit? One year, two years, three years, or more? Make projections.

If you take two or three years into account, you can put aside in the form of savings, gold and other investments.

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Look for a relatively safe financial investment like gold. The increase in two years is not great, but sure.

6. Consider Payment Method

Do you want to buy a house in cash, money in installments, or pay with a mortgage (Home equity loan) or KPA (Apartment Ownership Credit).

When choosing a KPR or KPA, there are other options, namely KPR and KPA from conventional banks or KPR and KPA from Islamic banks.

Each payment model has its advantages and disadvantages, Learn about each payment method.

7. Don’t be at home forever

Never think that you will stay in this house forever. Think you’re moving again.

Why is this? As your career progresses, your business expands, and your family grows, you will search new house.

The house that was purchased can be sold and become a down payment. Then buy a bigger house.

The term is update property Buy a property that is larger than your previous residence.

Australians can move house six times in their lifetime. Afterwards update residence, Caucasians usually do downgrade.

The point is that when they get old, they move to a smaller house. So you don’t have to think about living in a house forever.

8. Don’t Procrastinate Buying a Home

Never give up buying a house even for a year. The increase in property has been difficult to catch up with the increase in wages.

Just collect a deposit as soon as possible, buy as much property as possible, after which you can sell it again.

Well, they are tips for buying a first home for millennials or other generations.

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This page also makes it easy for property seekers and others why www.lacrymosemedia.com is really #ThereForYou.

It’s time for you to choose and look for the best property for residence or investment, only in www.lacrymosemedia.com.

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