Want to save to buy a house, here's the trick
Housing is one of the basic needs that must be met by every human being. However, not everyone can buy a house easily because the price is getting more expensive.
Home Ownership Credit (KPR) is one of the financing or loans that home buyers can choose. Previously, you also need to plan your finances carefully to pay the installments.
For those who already have a financial goal of buying a house in the near future or three years from now, both on credit and in installments, here are some saving tips from Lifepal.co.id.
1. Calculate the price of the house
Calculate the desired house price and adjust for inflation. When do you want to buy a house? Is it this year, next year, or in a few years?
If you intend to buy it not this year, then you need to recalculate the price of the house. Because, every year house prices have increased. Perform calculations by including the inflation rate.
For example, you are currently interested in a house offered by a developer in the West Java area at a price of Rp. 500 million. If you intend to buy a house with the same specifications and location as next year, then it is likely that the price of the house has gone up.
If the assumption of an increase in house prices per year is eight percent, then the price of the house you are looking for will already be IDR 540 million next year.
2. Save funds in low-risk investments
However, considering that the time period for buying a house is quite short, which is under a year to three years, consider saving funds in some of these investment instruments to buy a house.
3. Periodic investment or lump sum?
Not all investments can be purchased on a regular basis, but all of them can be purchased using the lump sum or one-time payment method.
Time deposits or SBN are investments that can only be made on a lump sum basis. Meanwhile, mutual funds can be lump sum or not. Whether it's lump sum or periodic, there are pros and cons.
Lump sum can indeed generate a large monthly profit because the principal paid-up capital is certainly larger. But by spending large amounts of money, you may experience a shortage of current assets that will interfere with meeting your daily needs.
Meanwhile, the periodic investment method allows you to invest regularly either on a monthly, weekly, or yearly basis, with a specified amount.
If the investment is periodic, adjust the saving expenditure with the saving ratio.
In financial planning, the ideal saving ratio is at least 10 percent of your monthly income.
If you are still confused about how much to set aside per month for a healthy monthly cash flow, then just allocate a minimum of 10 percent of your income to save for buying a house.
In essence, if the purchase of a house will be made in a matter of months to three years, avoid placing funds in high-risk investment instruments.
High-risk investment instruments can indeed provide high returns, but in the short term, the fluctuations are also quite high and have the potential to erode our investment capital.