When you reach adulthood, all you are looking for is independence, right? And one of the main steps at that moment is to buy your own home .
The problem is that the process is not always easy. After all, there are few people who have enough money available to purchase a property in cash and, therefore, most choose to finance it, being an alternative that involves a long-term investment.
Therefore, it is necessary to be very cautious and make a personal and financial planning so that it is possible to realize that dream! Below, we have separated 5 essential tips for those who want to buy their own home. Follow us!
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- Do financial planning
To start a business, buy a car, get married, have children, in short, basically all the important decisions in life must be well planned so that everything goes as expected. Buying your own home is no different! Planning that involves your habits, routine and, especially, your finances is essential.
The first step is to analyze your financial condition. A good idea is to make a spreadsheet listing your monthly earnings and expenses. It is necessary to discriminate everything in this document so that it is possible to assess your real situation.
After that, you will be able to observe that some things can be cut, since it is an unnecessary expense, for example, the gym or course that you never get to go, but pay the monthly fee every month.
Plus, it's time to check out what you can do to save even more. Sometimes your job offers a place to eat, allowing you to take your food instead of having lunch in restaurants that are usually much more expensive compared to lunchboxes. It may also be possible to replace some paid weekend schedules with free events or locations!
With the spreadsheet ready and knowing how much is left over every month, you can get a better idea of what you can buy, how to finance , among other important issues to buy your own home.
For those who have difficulty or even do not have much time to complete and organize a spreadsheet, there are very cool applications to help make this financial organization. Some of them even integrate with your bank account and then everything that is charged to your card is shown in the tool's reports.
- Use the FGTS
Every person hired under the CLT regime is entitled to the Guarantee Fund for Length of Service (FGTS). The benefit corresponds to 8% of the monthly salary and can only be redeemed in some situations, one of which is the purchase of a home. However, there are conditions for it to be possible to use the benefit. In general, the requirements are:
- not having real estate financing in operation in the Housing Finance System (SFC);
- the worker must have, at least, 3 years of contribution to the FGTS (it does not have to be from the same company);
- you must be the holder or co-obligor in the financing;
- you cannot have any other property in the city where you work or in nearby and metropolitan regions.
If you fit the rules above, it's time to check your benefit balance to analyze your possibilities and then gather the necessary documents to send them to a Caixa Agency or Caixa Correspondent Here.
After that, the bank or consortium will place the order and, generally, the FGTS is released quickly (around 5 days). However, there are other procedures related to the financing process that may take a little longer, between 60 to 90 days.
- Compare prices
At this time, it is necessary to do good research to find the property that best meets your expectations with a fair price. For that, it is necessary to analyze and compare everything:
- study the location;
- analyze the finish and conservation of the property;
- note the add-ons like the infrastructure of the condominium, for example.
A simple way to conduct these searches is using the internet. The Moving Furniture , for example, provides a gateway and application with an efficient tool to search with different filters such as location, number of bedrooms and vague, price and even the area per square meter .
In addition, photos of the properties are made available, which avoids visiting a series of properties that do not meet your profile.
- Add good value for entry
This tip is directly related to what we said at the beginning of the text: financial planning. You do not need to have all the money, since in addition to being difficult and taking time to collect the entire amount to buy your own home, nowadays there are many facilities with financing.
However, it is important to have a good amount to pay the entry fee, so that the subsequent installments are smaller.
Not to mention that each bank allows a maximum percentage of the amount that can be financed, it is mandatory that you make an entry. Therefore, use our tips to plan and save: the more money you have to enter, the easier and more favorable the purchase of your property will be.
- Be prepared for the extra costs
Many people think that buying their own home involves only the value of the property with financing and installments, which is not true. The process is very bureaucratic and, therefore, has transfer fees, bank charges, among other costs related to documentation.
Thus, it is necessary to have a financial reserve, in addition to the money dedicated specifically for the purchase of the property. Furthermore, it may be that the most suitable and chosen house for you needs minor renovations that are worth doing so that the place is in accordance with what you really want.
Buying your own home is really not an easy task, but if you put that dream as a priority, saving and counting on the facilities and tools available, for sure everything will be simpler and more achievable!
If you are investing for more than 5 years, it can be classified as long-term investments.
It also means that you won’t be requiring those funds until the need arises.
There are several long-term investment options.
You can select one based on your financial goals or planning.
These include Unit Linked Insurance Plan (ULIPs), Equity Funds, Public Provident Fund (PPF), Stocks, Mutual Funds, Bonds, Gold and Real Estate.
All these investment options ensure long-term gains.Learn how to choose the best long-term plans as per your needs with complete guidance.Bank Fixed Deposit (FD)Post Office Savings SchemesPublic Provident Fund (PPF)National Savings Certificates (NSC)Corporate Fixed DepositsSukanya Samriddhi Account (SSA)Unit Linked Insurance Plan (ULIP)National Pension System (NPS)Stocks and Mutual FundsReal Estate
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