With a little planning and discipline, it is possible to enter the financing and acquire your property
We have excellent news for you: buying a property is easier than ever. By adopting the right habits, you can save money to get into your real estate financing quickly.
Financial organization and spending cut
The first step in saving money is perhaps the most difficult: organizing finances. The time has come to mark all your earnings and expenses on a spreadsheet to find out exactly how much money comes and goes. Thus, you will know how much is left per month to be invested in the purchase of the property.
Now that you have it all on paper, the challenge is to strive to save as much money as possible. Try to work with a goal of value to be saved, or a minimum percentage of your income to be saved every month. Possibly, it is necessary to cut superfluous expenses. But, the cause is good and fair, it’s worth it. For the purchase of Real Estate Koh Samui this is important.
Invest your savings
As long as you save the amount needed to buy your property, you can reduce the waiting time. How about investing that amount in some financial investment? In this way, money can earn interest, protecting your capital from inflation. This also allows you to plan better, especially about the right time to buy the property.
Look for the best financing rates
Real estate financing is one of the most common ways to acquire a property. Another good practice in financing is to pay as much down payment as possible. The ideal is to be able to pay in cash at least 30% of the value of the property. After all, the smaller the amount financed, the smaller the installments and interest to be paid. Consequently, the faster the property will be paid off.
New or used?
Used properties are generally cheaper. It is important to check if the property is in good condition and check:
- Electrical wiring
If a reform is needed, the savings obtained at the time of purchase may not pay off. New properties, mainly in the plant, can be interesting because they present a lower risk of structural problems. The ideal is to research the construction company’s history, analyze its reputation in the market and in consumer protection agencies. Take a survey of all points calmly and make the best decision for you and your family.
Patience when choosing the property
When we are close to making a big dream come true it is difficult to contain anxiety. But clarity is needed and, above all, patience. It is recommended to research and analyze all the alternatives until you find the one that fits your needs. The real estate market is dynamic and several good opportunities may arise over time.