This is the most popular option and happens when a financial institution provides the necessary credit for the interested party to pay part of the property. There are several ways to pay for this financing, and each has its rules, deadlines, and interest rates.
Most banks that offer real estate credit provide a simulation online on the company’s website. It is worth taking advantage of this feature to calculate the term, the amount of the installments and the input. This is true when it comes to the Mali Signature, Orchid Palm Homes Hua Hin option as well.
Consortium And The Options
Consortiums can also be an interesting way for those who want to buy a property, but not in a hurry to move. The great advantage of this option is that it is possible to realize the 100% installment of the property value.
The payment of consortia is also made through monthly installments, but there is no interest collection, only a management fee is charged. The disadvantage is that the contemplation, that is, the delivery of the letter of credit can take years.
Make financial planning
Whatever form of payment you choose, it is vital to have financial planning and start saving money. In addition to the value of the house or apartment, you will need money to cover other expenses. Therefore, it is always good to plan the payment of transfer fees and documents, expenses with the change and, in some cases, the purchase of furniture and appliances.
- If you choose to finance, you also need to set aside an amount to give as an entry. The amount requested varies but is usually 30% of the final price of the property. The higher the entry, the lower the debt of the financing and the greater your negotiating power with the seller.
- Therefore, it is essential to organize your expenses and income to know if you can save on some item, or if you need to do extra work to earn more money.
Study the market situation
The real estate market is extremely dynamic and is influenced by various issues such as the country’s politics and economy. That way, it is interesting to follow the news to understand if it is the best time to acquire a property.
Thus, it is possible to know if the prices of your city’s real estate are being sold for smaller amounts and seize the time to make a better deal. Another point that deserves your attention is the rules and interest rates that are offered in real estate financing. They also undergo constant changes and should be closely monitored.
Choose a reliable broker
Choosing a good realtor is essential to make the buying process quieter and safer. He is the specialist in the real estate market and is the only professional regulated to broker real estate transactions.