For those of you who are still living in a parent’s house or rented, you may often wonder: when you can buy a house. And the sooner you decide to buy a home then the value of investment that you can get in the future of course will also be greater.
Another benefit, of course, you will feel more comfortable and free because you already live in your own home. It’s good before you decide to buy a house, check your current financial condition. For that you can start from things like the following.
1. Own a Reliable Revenue
When deciding to buy a house by way of cicil then you must be sure can really pay it. If still single status then at least you should have been recorded as a permanent employee. Or if your status is married then one of you at least already convinced by the position and future in the company where work.
2. Not Having Other Large Expenses
Buying a home is a big decision in life and it will also affect your financial situation. In order for your financial condition to remain stable then make sure when you buy your home is not currently having other large expenses such as car or land payments.
3. Not Being Wrong About Debt Problems
In order to make the home purchase process easier, especially if the purchase plan with installments, then check back the financial condition in the bank or other financial institutions whether good and not in debt arrears. This is so that banks or financial institutions can more quickly approve the loan application.
4. Have Emergency Funds Enough
When owning a home there will be some future expenditures that may not have been previously accounted for. It is therefore important to have sufficient emergency funds to anticipate those expenses. The amount of emergency funds that must be prepared at least starting from 4 months or preferably as much as 12 months from the value of monthly expenditure.
5. Able to Pay 5-10% of House Price Total
When buying a home, it usually takes a fund of 3-20% to pay the down payment. It is also the main determinant whether you can afford a home or not. It’s better if you wait until you can pay at least 5% but still advised 10 – 20% of the total price of the house with cash.
6. Can and Want to Take care of Your Own Home
Based on the experience of new people who have a house, in the first year there is just spending to fix some damaged things or buy new equipment in the house. In addition, you should also be ready if someday the house needs some renovation.
If you are accustomed to take care of and do the work yourself then the expenses will be more controlled.