How to guarantee financial stability when buying your own home?

financial stability

There are several ways to make investments in Brazil, and each option has its own characteristics related to liquidity, security and investor return. For this reason, it is important to evaluate the details of the applications well before joining them. In addition to the possibilities offered in the market to save resources and obtain income, there is the purchase of real estate.

Good planning and a well-defined budget are the basic prerequisites for those who want to get out of rent and achieve the long-awaited financial stability. As we are talking about an investment that involves a large sum of money, great care is taken so as not to get in the way and get into debt.

Thinking about it, we prepared this post that explains how to plan to buy a property and what the benefits of this achievement are. With this reading, it will be easier to make a conscious and correct decision. Follow the post and plan yourself!

How to achieve financial stability?

The first thing you need to know is that this process does not happen that way, overnight. It is necessary to take it easy and have patience to gradually achieve financial stability. Your effort, dedication and discipline are also extremely important, because acting on impulse at such a time can mean loss and headaches in the future.

The ideal is to take it one step at a time, fulfilling each pre-established goal. These goals must be within your reality. For example: single people who are just starting their careers will naturally find it more difficult to achieve stability. Understand this context and don’t blame yourself. Have real goals and stay focused on them.

Whether you are just starting out or for those who already have some independence, it is essential to know for sure how much you earn and how much you spend. Put everything on the tip of the pencil, even those minimal expenses. Calculate what will be left and start investing that amount in planning to get out of the rent . It doesn’t matter if the steps are slow, the most important thing is to stay in line.

miniature house next to a calculator

How to better plan the household budget?

Next, we list some practical tips for you to face this path in a more disciplined way. Check out!

Set tangible goals

All financial planning starts from good goals. As we have seen, they must be reachable and within their reality. It is no use wanting to “take a step bigger than the leg”, is it not? So, as soon as you begin your search for financial stability, define everything you need to do to achieve it.

How much money is leftover at the end of the month? How much do you still need to save? What is the type of property of your dreams? Think and rethink about these issues and put everything down on paper. A great suggestion is to establish a value target to be saved each month and gradually increase the amount. So, naturally, this will become a habit and encourage you to save more and more.

Make an expense schedule

As the process of buying real estate involves specific steps, it is most recommended to think of your expenses as a schedule. For example, it is not enough to have the necessary amount to enter the property if you have not programmed yourself for the expenses of the rest of the financing.

Also think about the costs involved in the post-purchase moment, when you will have to pay for the property documentation and any renovations, in addition to the furniture and decoration. In addition, do not forget all the fixed expenses that will come with the acquisition of your own home, such as property tax, electricity bills, telephone, internet, etc.

Create effective strategies

Anyone planning to achieve financial stability through homeownership needs to create strategies that are compatible with this process. What does that mean? If your focus is on the property, start by defining the exact amount you need to save to be able to enter the property. This amount generally revolves around 20% to 30% of the total value of the asset.

Then, define strategies to save the amount of funding. In this case, experts indicate that the installments should not exceed more than 30% of the buyer’s monthly income. So, evaluate what that expenditure will be and prepare to save it without compromising your budget or the other fixed expenses of the month.

Also consider that the greater the amount you can save for entering the apartment, the lower the amount financed. Consequently, interest rates will be lower and you will have some relief in your pocket to think about future plans.

Have a reserve fund

A reserve fund is like a savings account that you use to accumulate money and meet emergency needs or make other investments. It has the function of offering support to pay urgent expenses, maintenance and works, for example. Generally, these funds are used to pay for procedures that cannot wait.

An emergency reserve helps pay for costs arising from essential activities that were not foreseen in your budget. The value is used to solve unexpected problems, such as leaks in a house or apartment. The money accumulated to make up that amount should not be used to pay your monthly expenses.

Use technology to your advantage

Use technology to better plan your finances and household expenses. By using a mobile device that has access to the Internet, you organize your expenses and make adequate personal financial control. There are also apps that help you find excellent opportunities for buying a property.

What are the financial benefits of homeownership?

Homeownership is one of the safest investments. The properties form a solid patrimony that will hardly be lost and will pass from one generation to the next. The risks of the acquisition practically do not exist, and the property of a property is permanent, as well as the possession. See other advantages of investing in the purchase of these goods!

Financial independence

To be free of rent is the dream of most Brazilians. In addition to financial stability, we can also include the emotional stability that people achieve by acquiring such a valuable asset that it will leave them alone for the rest of their lives. Not to mention the future possibility of using the property as an investment, either by reselling the property or using it as a source of income from rent. What about?

Reduction of fixed expenses

Who pays rent knows the torment that is having to separate that high amount every month just to pay the expense. This amount commits about 30% of our budget and often prevents us from setting future goals. When you buy your own home through real estate financing, you put an end to spending on rent and start investing in a property that is truly yours, valuing your assets and the well-being of your family.

Decrease in future risks

As we have seen, there is a possibility that you can use the property as a source of investment after you have reached your financial stability. This is very advantageous because the real estate market is one of the most important sectors of the Brazilian GDP (Gross Domestic Product). It will never cease to exist, since the need for housing is something constant.

So, with a property in your name, you decrease the chance of future risks and you can take advantage of your assets in order to make your money pay off. Not to mention the potential for property appreciation, which can be very high, depending on the location and offers of the neighborhood in question.

Investment opportunity

Homeownership is an excellent investment opportunity, as these assets are continuously valued. If you take all the necessary precautions during the negotiations, you will take advantage of great opportunities that will bring benefits in the long run. Analyze the right time to make the purchase, as, in some seasons, prices fall considerably.

The amount invested in the negotiation will always be corrected by the real estate market and will be updated. Real estate has a profitability and is very attractive for those who want to have extra income through the lease. This is a very special investment category that preserves the investor’s assets even though there are economic crises in our country.

After all, how to buy your own home?

To purchase your own home, you need to choose the location according to your needs. Search for properties that interest you and analyze prices and payment terms. Also observe the property documents, the purchase and sale agreement and the registration certificate of the Property Registry to find out if there are restrictions.

Before making real estate financing, check that the financial institution has credibility in the market and that it serves its customers with agility. In addition, ask for information on interest and other fees that will be applied on the total amount financed and inquire about the number of installments and the percentage that will be financed.

If everything is in accordance with your financial planning, present the documents requested by the financial institution and sign the contract. Within a short time, the money will be released to make the purchase and you will receive the keys to your home. After that, just customize the spaces by making the necessary changes and placing the desired furniture in the environment.

Did you see how to guarantee financial stability when buying your own home? This is much less complicated than you might think. We just remember the need to have a specialized consultancy when it comes to financing real estate. Thus, it is guaranteed that the parcels will be within your reality and will fit loosely in your pocket.


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