Archive for the ‘buy home’ Category

Tips for Buying Houses Through Mortgages

Tuesday, June 14th, 2011

If you want to own a home but your money is limited, you do not worry, go to the bank around you. Now this is not difficult to ask the mortgage with various interest rates.

But before you go, you’ll want to know about the ins and outs of mortgages filed tips.

Based on the explanation of Bank Indonesia, the mortgage is a credit facility provided by banks to individual customers who will buy or repair homes.

In Indonesia, now known there are two types of mortgages:
1. Mortgage subsidy, which is a credit that is intended to lower middle income people in order to meet the needs of housing or home improvements that have been owned. Forms of subsidies given in the form of subsidies
ease the credit and subsidies increase the development fund or home improvement. Credit subsidies are regulated separately by
government, so that not every community who apply for credit to be given this facility. In general, the restrictions set by the Government in providing the subsidy is a maximum income of applicants and loans.

2. Non-subsidized mortgages, which is a mortgage that are intended for the entire community. Conditions set by the bank’s mortgage, so that
determining the amount of credit and interest rate policy is appropriate bank.

What mortgage requirements?
In general terms and conditions treated by banks to home loan customers who would take relatively the same, both of the administrative side as well as the determination of credit. To apply for a mortgage, applicants must attach:
1. Identity Card
2. Family Card
3. Description of income or salary slips
4. The financial statements (for self-employed)
5. Personal tax ID (for loans above Rp 100 million)
6. Personal Income Tax Return (for loans above USD 50 million)
7. Copy of certificate of the parent and / or fractions (when bought from the developer)
8. Copy of certificate (if the sale and purchase individual)

The cost of mortgage process
In general, mortgage facilities the applicant will incur some costs, such as: appraisal fees, notary fees, bank fees, the cost of fire insurance, life insurance premium costs during the credit period.

Interest Calculation Method mortgage
Generally known for 3 methods of interest calculation is:
1. Flat
2. Effective
3. Annual and Monthly annuity
In practice interest rate method used is effective or annuity rates.

Advantages of Mortgage
- Customers do not have to provide funds in cash to buy a home. Customers simply provide a cash advance.
- Because the mortgage has a long period of time, the installment is paid can be accompanied by expectations of increased revenue.

Tips:
1. When you buy a house from an individual, make sure that the certificate is not problematic and there is a building permit in accordance with the existing building conditions.

2. When you buy a house from the developer, make sure that developers have referred already permits, among others:
a. Land Appropriation Permit: Location Permit, Aspect stylist use of land, which was approved Site Plan, etc.
b. Infrastructure already available
c. Soil conditions ripe
d. Minimum land certificate or HGB SHGB Parent on behalf of developers
e. Parent BMI

3. Know your seller reputation (individual or developer).

4. Do not make buying and selling under the hand, it means if a house to be purchased is still in the bank as collateral, then do the transfer of credit at the bank concerned and the deed of sale and purchase made before a notary public. Never make the transfer of credits under his hand, meaning that on the basis of trust alone and sign a receipt, the only evidence used to, because banks do not recognize this transaction.

Choosing The Right and Strategic Home Location

Monday, January 24th, 2011

One of the tips before you buy and build your dream house is to choose the right location. Below there is a practical guide for choosing the location of housing:

1. LOCATION DETERMINATION
In determining the location before getting home, we need to be observant development observe an area that is closely related to the development of an area. Besides, should often look at a housing exhibition event or diligent walk into territory which is or will be built by developers.

We recommend that in determining the choice of residential location must be matched with a map of the area, as well as to develop insights from a range of information (brochures, ads) about the location of housing, but also can view the location of the macro level, such as: road network, the track voltage cable high, the location of the nearest large river, where the path trains and various city development plans.

Do not forget also to seek information orally from colleagues who know the area of housing that will be choose. This information is as a complementary idea to determine the location. From the results looking for info and a walk, then the activities of observation can be used to compare the advantages and disadvantages of several alternative locations of the most attractive housing.

2. LEGALITY
Before deciding to choose to buy and Build Houses should first check the legality of the location. The legal aspect that can be asked to Copy Certificate Company is the Master Developer for the selected location of housing, it is to provide certainty about the legality of land ownership which will be developed (the solution to the certificate of the parent) to SHGB or SHM selected above lots are not in problems.

Apart from the development company can also ask the nearest village or district on a site plan for housing, whether already has permits to build a house on the location of the principle in question. The element of legality above applies to the location of housing that is really new to be built, while for the location of housing sites that have been / are being built can be asked in more detail such as: Letters of land (AJB, PHTB, SHM / SHGB), completeness of the IMB.

3. FACILITIES & INFRASTRUCTURE FACILITIES
Facility infrastructure is complete and sufficient is one of the main tips from the developers in promotional sales houses. Developers often do not even offer prizes to lull potential consumers to buy one of his products.

Property Investment with Mortgages

Monday, January 17th, 2011

You can have your own home by using home loan or mortgage. Having your own home is a dream for many people, especially if you have a family. The desire to live independently and separately may be one reason. Obstacles faced when they want to own their own home is an expensive house prices. One solution that can solve this problem is to do a loan in the bank, known as mortgage or home loan.
House as a shelter and a family gathering it is one of the basic necessities. In addition, buying a home is one way to invest because house prices are rising every year. However, house prices are not cheap. If you think to save money before buying a home, chances are after the money collected; housing prices are no longer together but have taken part so that the dream of buying a home bounced back delays, so to buy a home or other property, home loans or mortgage of choice.
What should be noted at this time if you plan to buy homes on credit with the mortgage?
• Interest rate of mortgage
The amount of interest rates will determine the size of the installments to be paid. In order to obtain a lightweight installment, look for low interest rates. Note also the types of flowers are offered. There are banks that offer low interest only at first, maybe for 6 months or one year.

For that, choose banks that offer low interest rates and the period is longer. However, note also other things in addition to interest rates.
• Accelerated Repayment
Most people want the debt paid off immediately for payment of installments to be completed. If you intend the same time, ask the bank how the procedure if the payment is accelerated or facilities pay some money to reduce the principal debt. There are banks that charge a penalty if you make payments could be accelerated or after a specified period. Choose the flexibility to redeem more quickly or without penalty.
• Other Costs
The bank will charge various fees to customers who will receive a home loan. Such costs include facility fees, insurance costs, administrative costs and other expenses. It would be more ease when choosing a bank with lower costs. Try to bargain for those costs. For example bargain fee.

Islamic mortgages
Housing loan provided by conventional banks can not provide a fixed installment to its customers. These are things that sometimes burdensome for customers because of the uncertainty overshadowed the number of installments to be paid for subsequent years.
Responding to this problem, Islamic mortgage could be an option. Using Sharia mortgages allow customers to pay in fixed installments until the end of the loan period. This is because the Islamic mortgage trading system. For example: the price of home you want to buy for USD 200 million. The Bank will sell to you by taking advantage of Rp 100 million, so house prices to Rp 300 million. If you take the tenor for 10 years, mean number of installments to be paid each month is USD 300 million divided by 120 months (10 years), the result is Rp 2.5 million per month to 10 years.
Other system offered by Islamic banks is a hire-purchase system in which the bank determines the rental price of the house to its customers. For example, a lease that is determined is Rp 2 million per month for 1 year. Then, the rental price may change next year depending on a review of the bank, for example, to Rp 2.5 million a month. If it is up to the time period you set, say after 10 years. You can buy the house you live with a fairly cheap price, perhaps just by paying USD 20 million at the end of the tenth year, you have to have a house through a mortgage in those bank. Taking Loan is need of consideration. For those who lend money, banks impose interest for money borrowed. The amount of interest that is given to follow the economic situation around us, which means that interest can rise or fall following the interest rate the central bank. It would be very burdensome when installments should increase due to rising interest rates.
However, with investment in property in this case buying a house, but would also benefit. Land and house prices tend to rise, so that it can be used for the future. Although able to benefit, home loans through mortgage need good planning and appropriate.

How To Find a Home

Thursday, November 25th, 2010

Having a home is a dream for every family. Often times we are faced with the problem of choice that so many options that exist to make us become increasingly difficult to choose. Houses are not just used as a place of rest, refuge, shelter from the sun and rain, but also as a place to socialize, learn, and even some are buying homes for investment. The following description of the goods times you can use as reference in choosing a home.

1. Financial Capability.
• Customize your ability to pay a price which would you buy a house. If the price is affordable and you have more money, then you can choose to purchase by way of hard cash. But if not enough you can buy it on a home loan. If through this way you can estimate how much mortgage you can spend each month. Usually the maximum mortgage is 1 / 3 of salary, although sometimes there are some banks that can provide up to 40% of salary.

2. Housing Location.
• Do not just pay attention to the ease of access roads to and from the place of your activities, but also must ensure flood-free location, safe, close to educational facilities, hospital, shopping center (for those who like shopping). The choice of location will also greatly affect the sale price in the future if we want to sell it back. Investigate also the environment around housing, safely away from the plant / disposal of waste or garbage. So that will affect our comfort during your stay in this housing.

3. Reputation Developer.
• Pay attention to track records and great developers. Choose which already has experience in developing housing. If you need to visit the location of housing that has / is being built by this developer. Pay attention to the quality of the building, wondered at the inhabitants of the services of these developers from starting price deal until the service after sales service.

4. Housing Facility.
• Usually, each developer will provide public and social facilities for residents of housing. Even if there is no compensation if there are facilities that they can give to residents later.

5. Building Specifications.
• Usually the developer has put the building specifications in the brochures he made. This specification relates to materials that will be used in their construction. Like the roof of wood or lightweight steel, tile roof usually mention specific brands and others.