Consideration in choosing the first house
Location is the most important thing in home selection, no matter which house to buy. There are often terms, the most important thing number 1-3 in buying a house is: location, location and location.
Everyone certainly has their own preferences in choosing the best home location: some choose near parents, in-laws, close to the office or who just want a quiet living area. Well, this is indeed not debatable because it is very subjective.
But there are objective factors regarding this location and generally apply. The things that must be considered in choosing a house related to the location are:
• Choose a home location that has good public access
• Close to the center of transportation or have adequate transportation facilities
• Avoid areas that have the potential for flooding or other natural disasters that are routine in nature
These three factors are the main factors of home selection related to location which generally will greatly affect the development of the price of the house that you will buy later.
Buying a house certainly needs good planning and maturity because house prices are expensive and tend to increase every year. Choose a house that suits our abilities, and that must be remembered, it’s not always a good house that is expensive.
There are many ways to buy a house, from a mortgage from a bank, a gradual cash method from the developer to a new home, or even with hard cash if the savings are sufficient.
Whatever your choice, choose the one that fits each bag. Do not let the purchase of a house become a burden and eventually lead to cash difficulties in our family budget.
There is a reason why generally banks always calculate installments for mortgages in the amount of 1/3 of the total monthly income of the debtor, because they think that 2/3 will be spent on consumption of living and household needs.
Although at certain levels of income this can be greatly improved and not relevant anymore, at least this formula applies in general and reflects the importance of maintaining the level of family cash flow at a safe level.
Third: Type of House
Which is better, buying a new home or second home? Each has its advantages and disadvantages.
New home from the developer:
In general, the new home of the developer has the advantage of relatively new buildings, more comfortable public access, and security access are also usually more noteworthy because they are generally in the form of closed clusters.
However, there are several things that must be considered in the selection of this new home:
Developer track record
Many housing projects are neglected because the developer is not responsible for the process of completing the development project. Pay attention to who is the developer and the track record. Especially now that developers tend to “sell pictures” before there is development first.
Generally the certificate has not been broken down and is still in the form of a single on behalf of the developer. Therefore, make sure that there is no legal case for the land, including the land that does not involve debt or collateral to third parties.
For this type of house, generally the certificate and legality are relatively safer, but in general the weakness of this second house building is relatively longer, and needs additional renovation costs to be inhabited, and the environment is not as comfortable as a new house.
Whatever choice of house you will buy, always involve the bank in the process. Use a mortgage even though the nominal loan is small. Why? It will be safer, especially in terms of legality because the bank must have and be competent to examine all the documents guaranteed in their place.
And specifically for this second home, it’s a good idea to drive around to several property agents in the surrounding area to get comparative price data.
Fourth: The purpose of home purchase
Although in general the main reason for buying a first house is to be occupied, it is also possible to reason for buying this first house for investment motives and only aiming for future profits.
Purchasing houses for residences generally prioritizes the element of comfort, so it is important to see public access and facilities and the surrounding environment.
While for the purchase of an investment house, always choose a cheap house. In today’s world many homeowners who “BU” (need money) and tend to sell their homes quickly, or even some who can over credit.
For the sake of this investment, it’s good for us to get along with many banking people and property agents, because the information about property with good prices is obtained from their environment.