Thousands of Brazilians have the dream of owning a home, but it is common for many to have doubts about when to buy a property. After all, this acquisition represents a large investment and involves a number of factors in addition to the financial issue. Therefore, it is natural for people to feel insecure to define the ideal moment to take this much-desired step.
So, even though you find a reliable real estate company and a great business opportunity, it is possible that you still feel undecided due to a series of personal issues and details that revolve around this decision so serious, that it can really have a huge impact on your life.
Thinking about this complex moment, we have separated in this post 5 important points that you need to consider to understand if this phase of your life is the right time to buy a property. That way, you eliminate doubts and make that decision in a calm and confident way that you are doing the best for yourself and your family. Interested? Continue reading this content and learn more!
People want to buy a property for different reasons, but the truth is that there is always a kickoff that makes them want to start this new life project. For example, many acquire a house or apartment when they get married. Another very common case is when the family is growing up.
So, if this is your case, think carefully about this decision, as having more space – investing in a place with more rooms – and a safe and proper home are very important aspects when children are involved in the equation.
Nothing worse than having to deal with the rent instability when your biggest concern is providing for your children. Or having to move with young children because of problems with the landlord. So, if you are thinking about when to buy a property, making a thorough analysis of your moment and your personal goals can help you to be sure of that decision.
Certainly, a factor that cannot be ignored is the financial issue, especially because acquiring a home involves a high expenditure of money and is an investment that will compromise the family’s income for a long time. Therefore, having a realistic picture of your finances is essential to understand when buying a property.
So, if you think about it, it’s time to sit down and gather information about the family budget. Record in detail what the receipts, expenses and debts are, if they exist. Also make a projection of how much you can earn in the coming months, considering bonuses, payment of 13th salary, vacations, extra income, among others.
At the same time, if you are really determined to start this project, but realize that a large part of your budget will be committed to buying your own home, it may be time to look at the data you have collected before closing a deal and assess how to cut costs and save a little more before entering the property.
Still, in terms of financial life, it is worthwhile to reflect on your situation at work. How are things at your job? Is the situation stable? Is the company, for example, going through a difficult phase, with little demand or staff cuts? Answering these questions can guide you on the best time to make that decision.
In the end, we know that buying a property covers the payment of installments for many years, so if you are unsure about work, this is probably not the ideal time.
Otherwise, if you are experiencing a time of prosperity, it is possible that this is the period of taking advantage of opportunities and making your dream come true. Even so, it is prudent to be financially prepared before hitting the hammer and having an emergency reserve if necessary.
Properties of interest
Sometimes business opportunities appear and represent exactly what you have been wanting for years. This happens when we find the property in the right size for the family and in a place that we want to live. So, if everything is going well with your financial life and you are faced with an apartment with more quality of life in a neighborhood closer to friends and family, everything indicates that this is the time to move.
Several people live in places that are not very practical, where there is not a good transport network and variety of trade and services to meet the daily needs. As a result, they need to spend hours in traffic and commute whenever they need to go to work, school, market, gym etc. Likewise, there are neighborhoods that have a much higher cost of living than the family can afford.
In these scenarios, when a property of interest appears, it is worth combining the useful with the pleasant and buying it in a region that meets the needs of the family. This way, with a more practical routine, time is saved and the expenses with transport and more expensive services are diluted in the medium and long term, easing the benefits of the new house.
Finally, it is crucial to keep in mind that it is necessary to have a reserved amount to enter your home. Financial institutions do not finance 100% of the value of a property. In general, the family should have 20 to 30% of the total as input, depending on the program and bank chosen.
Thus, if you do not have this amount yet, know that you will need to organize beforehand and save to be able to make a substantial down payment. It is always good to remember that the higher this value starts, the lower your debt will be, so planning makes all the difference.
When studying your budget, write down how much you have in your savings and, if it is not enough, set yourself up to achieve this achievement: find out how much you have to save for more and for how long. So you get ready and you will know exactly when to buy a property.
As you have seen, deciding when to buy a property is a choice that comprises many factors. Sometimes, a person is in a phase of life that asks for a change and finds a good apartment but is not financially prepared for this investment. So, if this is your dream, analyze all the elements suggested in this post, and don’t forget to plan and do simulations to define which is the best enterprise for your family!
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