Buying your first property is a dream come true, so deciding which is the best deal can generate many expectations for buyers.
Are you thinking about having a property as a home or for a future profitable investment? Check out some tips that VRV prepared in this post and learn how to make the right investment in your first property.
New or Used?
Many people who intend to acquire a property wonder whether it is worth buying a used property or a new one, without any previous use. It all depends on the level of urgency of each person or family group. If the person needs a place to live quickly, the ideal thing is to buy a used property, because it is ready to live in.
If you’re not in a hurry and can wait a while, you can buy a property in the planning stage and even save money. The advantage of a new property is that it has unique modern features and the fact that no one has lived there before.
Define the essential details
Before buying a property, whether used or new, it is important to measure all the essential points and requirements in the need for each person or family. Some more cautious people take architects or engineers to the future building site to inspect and analyze the place. This helps to check the requirements in a more technical and professional way.
Another thing to take into consideration is how noisy or noisy the location can be. Therefore, before purchasing the property it is interesting to visit the place during the day and night, to find out if the place is noisy. It is also good to talk to neighbors, and find out what their opinion is about the property. Also check the traffic in the neighborhood of the property and how safe the location is, to avoid future hassles.
Location is always important
The location is one of the main points that must be taken into consideration for those who intend to acquire a property, whether new or used. Check if there are shops, markets, pharmacies, schools, gyms, and gas stations in the desired neighborhood. And in large cities, such as São Paulo or Rio de Janeiro, subway lines, bus lines, or being close to important avenues, can be a crucial factor for the purchase of the property. Of course, as the location is better the price may increase.
For those who intend to invest in a property in order to rent it and generate an income or sell it in the future, the location is the key to the future appreciation of the space.
Review the documentation before buying
Before buying the property, it is important to survey the information and find out if the enterprise is within the laws; some people choose to have the help of a lawyer for this task. This happens mainly for used enterprises; the new ones usually have a better guarantee because they are guaranteed by financing programs or by the construction company itself.
It is also important to calmly and carefully read the purchase contract. After all, nobody wants to be prejudiced when making an investment like this.
FGTS, to use or not?
The Guarantee Fund for Time of Service (FGTS) is paid by the employing company to workers under the CLT regime. The amount paid monthly is equivalent to about 8% of the worker’s gross salary.
The FGTS can be used to help with the down payment on the purchase of a property, but there are some requirements to be followed. Check it out:
– have at least 3 years of signed portfolio;
– not be the owner of real estate in the city where you intend to buy;
– to work or live in the city where the real estate that you intend to buy is located;
– not have any property financed by the Housing Financing System (SFH).
Using the FGTS to help you buy your first property is very interesting. The FGTS is a money that practically serves as a reserve in case the employee loses his job and needs to use it in an emergency way, therefore, it is not a recurrent use money. It can be used as an investment.
Forms of payment
When one thinks of paying for a property, the main way to pay for it comes to mind is to buy in cash, which is the most financially advantageous way. But most people save money over time in order to make a down payment on a property. It is possible to finance directly with the construction company, to finance with the bank, or even to pay a consortium until you are drawn into a lottery.
Financing directly with the construction company?
Is it worth financing directly with the builder? The answer is, yes!
Financing directly with your builder can provide better options in the installment plan with lower interest rates. This is because the builder needs to sell quickly, and instead of using bank credit, offers its own system for payments.
Bank financing
The most popular option for buying a property is bank financing. Caixa Econômica Federal is the leader in this type of financial operation in Brazil. There are some modalities to be followed to make the payment of this type of financing and each one has its own terms, interest rates, and specific rules.
All the traditional banks offer their own real estate credit, so if you are thinking of acquiring a new or used property, talk to your bank manager and ask about the possibility of an advantageous credit for you or your family.
