Realizing the dream of home ownership is a task that requires a lot of planning and caution, do you agree? And, given the scenario of economic instability in the country, it becomes even more difficult to know when to buy a property.
Do you want to acquire a property without causing major complications and future financial problems? So check out some of the essential factors you should consider before making the final decision!
Beware of high interest rates
In times of crisis, inflation ends up consuming large percentages of family income. And with the increase in interest rates, the financing installments also increase, which results in a salty financial commitment every month.
At the very least, buying a property requires a medium to long term investment. So, assess your family finances well, prefer a lifestyle that allows for savings, manage your budget well and run simulations before you go for financing.
In addition, you can also consult with mortgage experts and assess how much credit you have available. That way, when you decide to buy a property, you will be absolutely sure that you will be able to afford all the installments, fees and taxes involved in the process.
Watch out for your financial stability
Do you have any capital saved? What is your monthly income? Do you have a stable job? How much of the budget do you intend to devote to the realization of the dream of home ownership?
All of these factors must be carefully considered when buying a property. This is because, if it fails to maintain long-term financial stability – as a result of unemployment, debt and poor budget management, for example – simple financing can become a major problem. Therefore, the ideal is to never devote more than 30% of your monthly income to the financing installments.
If you already have some capital to invest in the purchase of the property, a good way out is to give as much input as you can (we recommend inputs above 50% of the total value ). Thus, you shorten the financing term, pay less interest and run less risk of getting into debt.
If you have a short budget, you may have to postpone the purchase of the property until your finances are eased. In this sense, an alternative is to add money to acquire a property of lesser value and gradually solidify your assets.
Evaluate investment possibilities
If the goal is to save money to acquire a property, in addition to considering your current budget, you can still investigate possibilities for investment in fixed income or low-risk financial applications, public or private. Thus, you can raise what was missing for the purchase of a property while calmly organizing your financial life.
Among government bonds, you can choose Bank Certificates of Deposit (CDB), Letters of Credit to Real Estate (LCI) and Letters of Credit to Agriculture (LCA), guaranteed by the Credit Guarantee Fund (FGC). If you do not need the money invested for a few years, these are the most suitable options for investing in government bonds.
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