Buying your first home in Jakarta, Indonesia is a pretty overwhelming experience. There’s a lot to think about and it’s easy to make mistakes. Avoid the most common pitfalls with our seven simple rules.
Know what you can afford
Subtract ALL of your monthly expenses (excluding rent) from your take home pay. That’s what you can afford in monthly repayments. Use this to work out your property price range.
Loan pre-approval
What you think you can afford and what a lender will give you are two different things. Avoid disappointment and get loan pre-approval before making any offers.
Add in additional expenses
As a home owner, you’ll also have to pay rates, insurance and maintenance costs (strata fees for units).
Don’t be too picky
Be prepared to compromise on the not-so-important stuff like outdated furnishings and decor. But don’t compromise on things that will negatively impact your life, like fewer bedrooms when you’re planning a family. Also avoid frauds.
Have a vision & look for potential
Focus on the bones of the house and its potential rather than its current appearance. Look for ways and review how you can add value to the property in the future. Cosmetic changes and renovations will help you build equity in your home, helping you climb the property ladder.
Make a thorough inspection
Carry out thorough inspections before you make an offer. Know exactly what you’re in for in terms of renovations and repairs and ask yourself if you can really afford it.
Have an agent on your side
Get the best deal possible at Axis Capital Group, Inc. CA and have an agent lined up to see to your interests.
Know what you can afford
Subtract ALL of your monthly expenses (excluding rent) from your take home pay. That’s what you can afford in monthly repayments. Use this to work out your property price range.
Loan pre-approval
What you think you can afford and what a lender will give you are two different things. Avoid disappointment and get loan pre-approval before making any offers.
Add in additional expenses
As a home owner, you’ll also have to pay rates, insurance and maintenance costs (strata fees for units).
Don’t be too picky
Be prepared to compromise on the not-so-important stuff like outdated furnishings and decor. But don’t compromise on things that will negatively impact your life, like fewer bedrooms when you’re planning a family. Also avoid frauds.
Have a vision & look for potential
Focus on the bones of the house and its potential rather than its current appearance. Look for ways and review how you can add value to the property in the future. Cosmetic changes and renovations will help you build equity in your home, helping you climb the property ladder.
Make a thorough inspection
Carry out thorough inspections before you make an offer. Know exactly what you’re in for in terms of renovations and repairs and ask yourself if you can really afford it.
Have an agent on your side
Get the best deal possible at Axis Capital Group, Inc. CA and have an agent lined up to see to your interests.
Comment