Having a house of your own and getting rid of rent is a dream shared by many Brazilians. However, it is not always easy to have a large amount of money to pay in cash one of the assets that may be the most expensive of your life. This is where the importance of real estate financing comes in .
This process is able to make the parcels of a new property fit in your pocket, but it requires a lot of attention and planning, mainly, with the necessary amounts to be disbursed in the beginning. In this post, you will find out how much you need to enter a dream apartment and learn to overcome the first financial challenge of acquiring a property that will be yours alone.
Do you want to know how much you need to collect to give the apartment entrance? Read on with this article!
Calculate the right value
To define how much you will need to save, you need to take into account the total value of the property. With the exception of the “Minha Casa Minha Vida” program, the credit lines in the market establish that the entry price of an apartment is estimated to be at least 10% of its value.
This means that, if you want to acquire a property that costs R $ 300 thousand, you will need to deliver, at least, R $ 30 thousand to start the financing. It is important to remember that, in addition to this signal, you will have to deal with other expenses, such as possible brokerage commissions, certificates, ITBI (Transferable Property Tax) etc.
Therefore, it is recommended to add about 20% of the total value of the property to pay off the entry. As much as it is difficult to invest time and resources to be able to afford this amount, remember that the more you pay in the beginning, the less committed you will be to paying the installments in the future, and the lower the interest charged by the financial institution. It is an effort that is certainly worthwhile.
Understand how to save
Rearranging the finances of the whole family and establishing the entrance to the apartment as a long-term commitment is essential to create a complete financial plan. This organization must include the FGTS balance, current savings and the amount that has yet to be earned.
It is also necessary to analyze the salary perspective to ensure that the payment of the installments does not compromise the budget in the future. For that, some experts recommend that the value of the installments does not exceed 30% of the monthly income of the buyer.
Consult the conditions of each institution
Currently, several institutions offer free simulators, which can be of great value in estimating the expenses with the parcels and the entrance of the apartment. In addition, it is also necessary to compare the conditions for granting mortgage loans and the value of the fees charged at each bank, to find the option that is most economical.
Finally, never forget that, before closing the apartment entry process, you must always negotiate. It is possible to obtain several advantages and special payment terms with the bank and the owner, if the buyer knows how to present interesting proposals. When in doubt, a good broker can help you in this mission.
Find out how FGTS can help
The use of the Guarantee Fund for Length of Service (FGTS) in real estate financing is possible to finance real estate. However, it is necessary to meet some criteria established by the Federal Government and choose the ideal property for payment in installments. The fund can be used to enter an apartment and finance the rest of the property value.
To have access to this resource, it is necessary to accumulate the FGTS for a minimum period of three years, not have another property registered in your name and no financing to be paid to the Financial Housing System (SFH). Those who have fulfilled these requirements can request the release of the credit when making the purchase of the home.
Do not forget to separate an amount for the other expenses related to the Property Transfer Tax (ITBI), certificates, and records, insurance, among others. Check your financial condition before opting for credit and try to collect a sum to pay down and repay the loan as soon as possible.
Discover how to choose the ideal property for financing
Buying the perfect property for you and your family depends on your goals. There are numerous options available on the market, so you need to be aware of several details to avoid problems after purchase. Initially, you need to define what your needs are and record all the strengths and weaknesses of each asset.
Review the relevant details
Think of the size of the kitchen, living room, bedrooms, suites and number of bathrooms. Evaluate location, parking space, pool, neighborhood, common areas, condominium etc. Observe the size of your family and its composition and decide whether you want to buy an apartment or a house to serve as a residence for everyone. Check out the advantages and disadvantages of each alternative.
Decide between home or apartment
A home is essential for people who want to own land and not pay condominium fees. The alternative is valid for those who like gardens and have animals to let loose on the patio. On the other hand, it is necessary to make improvements within the limits of the property and take care of the maintenance of the property according to its conditions.
An apartment is ideal for those who want security and privacy. In this case, the buyer will only be concerned with the internal part of the property, since the maintenance of the building is done by contracted third parties. It is necessary to pay the condominium fee, and the resident will be safer against theft in his apartment and create bonds of friendships with the neighbors.
Enjoy the time
When a property does not have the desired aspects to serve your family, do not schedule a visit so as not to waste time. Create a list with properties and make a classification of those that best fit your profile, considering the location, the price and other relevant factors. After visiting the homes, assign a grade to facilitate decision making.
These are the tips for choosing your property and now you know how much you need to collect to enter an apartment! Check which problems the good presents to know if it is worth closing the deal. Stay tuned to find defects and request discounts due to imperfections and don’t be in too much of a hurry to decide.
Still have questions about real estate financing and using the FGTS to buy your own home? Leave your comment here!