Realizing the Dream House

The rise of property exhibition is increasingly easy to opt dream home. You can stay point to the location, type of housing, and housing facilities desired. However, before chasing a dream house, a lot of things to be considered mainly a matter of funding and location.

Ideally, the house is purchased in cash. In addition to the requirements need not bother to take care of credit at the bank, your finances need not be bothered by a mortgage, which could take up to a dozen years.

Buying a home can be done in 2 ways, namely in cash and credit, or a combination of both. If you buy a house in cash, you are free from the obligation to pay the monthly installments. But take a long time before you collected money and enough to buy a house.

Therefore, before choosing a home look first at your financial ability. With the current high prices, less suitable when buy a house in cash. Because house prices and land each year will increase. It could be that the money you save is far below that house prices continue to rise.

Loans from banks or mortgage (mortgage loans) could be an option. Mortgage installments can be adjusted to your income and repayment period can also be selected, like the short, medium or long.

Usually the mortgage is not more than 35% of income. This includes debt or mortgage, such as car payments, or credit card debt. Do not let the cost of installment consuming rations other household needs.

In addition to preparing a budget for a down payment (down payment), you need to have a reserve fund of at least 35% - 40% of the price of the house. The mistake that often happens is, most people just prepare funds for the down payment only. Though there are other costs that need to be removed when the handover, inter alia, notary fee, first installment, cost under the name, bank administration fees, insurance and home life and customs. For customs duties usually Acquisition Rights to Land and buildings (BPHTB), the tax imposed on the acquisition of land and or buildings.

Some things you should notice about mortgages:

1. In determining an affordable house prices, you should calculate the repayments you can afford to pay per month.

2. To calculate the monthly installments of the price of the home you want, ask the simulation calculations on a bank or financial advisor.

3. Ask for a brochure listing installment mortgages from several banks and compare with budget abilities.

4. If you and your husband works, just ask one of the parties paychecks just as the mortgage filing requirements. Banks usually offer a joint income, where the income of the husband and wife are combined in order to obtain a large loan ceiling. It's not in your favor because the bigger banks lend greater the monthly installments to be paid.

5. There was no difference in the mortgage term, medium-, or long-term increases in house prices over mortgage rates, you have nothing to lose.

6. Islamic mortgages are not necessarily cheaper. Islamic mortgage payment period is shorter than a conventional bank mortgage. Although the Islamic mortgage repayments are usually fixed, fluctuations in interest rates are not affected.

7. When you pay off the mortgage in the future, it will be affected by the settlement administration costs are usually around 1% - 3% of the remainder of the loan prior to repayment.
..