First Home Buyers Need to Know 8 It!

First Home Buyers Need to Know 8 It!
for you who are the first home buyer, consider some of the following steps!

1. Check the market price of the house in the area

Do a quick research by looking at the listing of ads selling and buying houses in the location you want. You can also check the lowest price of NJOP (Tax Object Selling Value) which can be seen on the official website of National Land Agency.

After knowing the market price for one square meter, imagine how much occupancy will suit your needs. From there you can get the desired estimate of the house price.

2. Know the total cost of monthly installments

KPR charges are usually included with the nominal taxes and home insurance. But there are also some mortgage brochures that do not include the tax price into the installment scheme. If the insurance fee is large enough, know what protection you get.

So you should be more critical to ask a marketing or property agent that offers mortgage products.

3. Know the final price you want to pay

The process of property transactions is usually accompanied by thin negotiations for rebates or promotional bonuses. Some people determine the ideal price range to buy a home. But it's better if you have a picture of the total price you want to pay for when closing.

This will make it easier if you want to ask for help agents to find a home.

4. Knowing the ability of the installment

Usually buyers set aside less than 28 percent of monthly income to repay the mortgage. If more than 30 percent will increase the risk of bad loans.

5. Ask the specialist agency area about the condition of the property market

Find out if this is a good time to buy properties in the area. Specialist agents usually know the project or potential location for future investment.

6. Understand the risks

Buying a home is a good way to invest. However, you also have to take into account the unexpected costs of buying new furniture, fixing roofs, water pipes with problems, and other treatments that can occasionally spend your savings.

7. Improving credit reputation

Bad credit or other problems with the bank may prevent you from obtaining a mortgage agreement. For that first pay off credit card debt and strive for credit smoothly in a few months before filing a mortgage.

8. Prepare the complete document and submit a mortgage

There are several documents that must be prepared as a requirement of mortgage submission. Once everything is collected, you can start applying for mortgages to several banks.

The goal, so you can get a picture and a more clear comparison of mortgage products as needed.