Bought the house in 2022! Home is the basic need of the community, with the exception of clothing (dress) and food (food). However, buying your own home remains only a dream of today’s generation.
Rising property prices are preventing millennials from buying a home. If you are in this location, you must read the following home buying tips. In fact, the inability to afford a home for millennials is often the result of poor lifestyle and financial management combined with rising house prices.
These mistakes delay the purchase of a home due to lack of funds or because it is not urgent. remember! The longer it takes to buy a house, the higher the price and the more volatile it becomes. So, let’s find out how to buy a house right now!
5 Tips for Buying a Home for Millennials and Young Families So You Don’t Make the Wrong Choice
Tips for buying a home that is neither easy nor difficult. Most importantly, you are willing to do whatever it takes to buy the home of your dreams and get rid of your lavish lifestyle. Here are some tips on what you can do!
1. Save for deposit
One of the characteristics of millennials is that they are extravagant and love to shop. If you receive a salary, then it is natural that you often spend money on various products. So there is nothing more to put off salary.
This assumption is what you should be able to break. Which? When you get paid, set aside some of your income. You can use these savings to pay the down payment on your home. If you take these steps right, your dream of buying a home will become cheaper.
To make it easier to collect payments when buying a home, you can apply a direct debit (direct bank debit), which is automatically debited at the beginning of each month. Savings programs are more effective with this strategy.
remember! The higher the down payment you can collect, the lower your monthly mortgage payment will be. In addition, the house’s security deposit must be paid to the bank’s address, as well as other expenses such as taxes and notary fees. The commission you have to prepare can be as high as 10% of the sale price of your home. So don’t try to buy a house as a down payment on a debt. It will be very difficult.
2. Don’t give up hunting for cheap houses
You must understand that housing prices in major cities such as Jakarta are definitely different from housing prices in the suburbs. Houses in the suburbs will be cheaper. However, if your choice is still a property in the city center, then buying an apartment can be an alternative.
If an apartment is an option, look for a very affordable affordable apartment at work. You can see apartments with a transit-oriented development (TOD) concept integrated with the railway station. Choose an area with high growth potential so that the value of the property you will live in grows every year.
One thing to consider when it comes to your earthly home is your daily distance to work. Don’t waste your precious time on the road. It’s a little pricey, but it’s nice to have more time with your family because you’re close to work, and you don’t get tired of looking for your own or surfing the Internet.
You also need to be smart and savvy to see the potential of the apartment or house you want to buy. Select residential property at dawn. Sunrise properties are properties located in areas that will radiate or develop over the next five years.
There are many different categories of Sunrise properties. Firstly, proximity to developed infrastructure and remoteness from the business center. Secondly, the Sunrise real estate category is a property located in an accessible location to existing roads and near a developing commercial or industrial center.
3. Join the cheap house program
So even if the dream of buying a house is still out of your reach, don’t worry as there are many housing subsidy programs currently being offered by the government. In addition to interest subsidies, you can also receive upfront payments.
You can participate in four programs, including the Housing Finance Liquidity Fund (FLPP) or KPR Grant, Advance Assistance Grant (SBUM), Equity-Based Home Finance Assistance Savings (BP2BT) and Public Housing Savings (Tapera) . You can get a list and information about subsidized housing at the following link:
Also take advantage of prepaid promotions often offered by developers. For example, a developer or promoter may pay a potential buyer 12 months in installments, which are calculated based on the originally determined purchase price. After paying the deposit, you can apply for a loan at the bank.
4. Minimize payments on long-term, low-interest mortgages.
After finding a suitable home, a deposit is sufficient. All you have to do is contact your bank to apply for a Real Estate Loan (KPR). For a new builder home, the loan process is usually maintained until the contractor completes it. However, you can choose and arrange your bank loan yourself. For a second home, you usually have to do everything yourself, starting with a notary and ending with a mortgage.
Well, you can apply for a long-term loan to reduce the monthly payments you have to pay. Currently, some banks offer mortgages with a loan term of up to 20-25 years. Also take advantage of the bank interest promotions they offer you.
Oh, and you should also look for a mortgage with low interest rates and easy terms. It is worth trying the BukaRumah mortgage. BukaRumah is a real estate selling feature on the Bukalapak platform created in collaboration with Bank Mandiri.
Advantages of buying a house in BukaRooms:
- 1. Attractive interest rate options available, including low and fixed rates for up to 10 years.
- 2. Rs 1 million cashback promotion
- 3. Choose the best developer partner from all over Indonesia
- 4. Additional promotions for certain developers.
Now in February 2022, BukaRumah is offering a Rs 1 million cashback promotion. This promotion is valid for those who bought a house with a mortgage in BukaRooms and the mortgage was repaid. The refund will be sent to your Bukalapak account within 30 days of the mortgage being paid.
5. Buying a house after 3 years of marriage
You must manage your finances well so as not to interfere with other needs. Including the purchase of real estate. Three years is a long time to refinance and return to its previous state. Buying a property after 3 years of marriage is one of the right steps.
Do you want to buy a house before the wedding? Confirm. But don’t forget to adapt to future life projects. Buying a house before marriage is also a good investment for the future.