The 7 Things To Be Consider When Buying a House During The Covid-19 Pandemic

The 7 Things To Be Consider When Buying a House During The Covid-19 Pandemic. Apart from having an impact on the health aspect, the Covid-19 pandemic has also had a broad impact on the global economy, including the property business. The buying and selling power of the community towards property such as new or used houses, both for housing and investment, has decreased.

Some effects of the physical distancing is the reduction in labor, and limited social activities in an effort to reduce the spread of the corona virus.  An impact on economic activity that has decreased dramatically: shopping centers are empty of visitors, culinary delights are closed, shops are also face the same impact. There was a significant decrease in income, so that the income received every family was not sufficient to buy a house or property product.

Bismillahirrahmaanirrahiim, in Indonesia also made various efforts and policies to optimize the property sector to overcome the Crisis.  The developers made a variety of breakthroughs, including providing a considerable discount until the down payment (DP) money can be paid by the developer as well as other attractive credit offers. The government with its regulations and developers with its latest program are trying to keep property prices in a friendlier phase so that people can still meet the basic needs of a decent place to live. 

Especially with the work from home (WFH) system which requires people to work and have activities from home, it creates a need for a higher quality home. For some workers, the corona pandemic requires that everything be done from home. The function of the house has been modified more than place to rest, such as an office, meeting room  and learning from home.

It is undeniable that many families get insight and consider having a more comfortable home, by renovating an existing house or buying a new house.

For those of you who are now in a safe financial condition and have sufficient emergency funds, buying a house during this pandemic can be a profitable option. But for community groups whose work is affected by the occurrence of Covid-19, of course, it is a dilemma in itself if you want to buy or renovate a house.

The following points must be considered before deciding to buy a house during the Covid-19 pandemic are :

1. Check Financial Condition, Ensure Primary Needs and emergency funds are safe 

It's time to make forecasting a priority plan of income each month: daily home spending, school fees, monthly regular bills of electricity, telephone and internet and other primary needs. If the income ratio compared to the operational burden of basic needs is already balanced, then it is appropriate to consider on investments or buy a more comfortable house than before, in according with the ideal expectations of family.

2. Determine the function of the house to be purchased

It’s very important that before making a home purchase, we should first ascertain what the function it is: for living home, rent or investment. By knowing the function of the house, we can make the right decisions about the location of the house. If the house to be purchased is for rent, then the supporting facilities, infrastructure and the distance to the city center have a point of interest that is more attractive to prospective tenants. 

Especially for cheap housing that is far from the city center. It is very necessary to note, as this is usually a bit far from the economic center. We must really think that our family get the option to be able to do activities within the area, security, green land or parks, public facilities such as commercial areas provided.

3. Choose a Trusted Home Buying Platform

At this present of pandemic situation, we can still buy a house safely through marketplace without having to meet many people directly. We have to find a trusted home buying and selling platform, looking for the type of house according to the desired criteria. After finding the house of choice, we make sure the reputation of the developer can be seen through a good track record. 

4. Availability of Basic Facilities

Please don't just be tempted by the cheap housing prices offered. If it is not equipped with the necessary facilities, it can make routine operational costs wasteful. So it is also very important to ask all the basic facilities needed, such as bus terminals, stations, toll roads, shopping centers, schools and others public facilities that are easily accessible. 

5. Realistic Home Offer Programs

By the decreasing purchasing power of houses amid the Covid-19 outbreak, developers certainly do not run out of ideas in creating strategies so that the properties offered are attractive to consumers. Therefore we need to ask about the offer programs in buying a house in very complete and details. 

Do not let us be tempted by bombastic advertisements and the seduction of developers who promise low prices. For example, the down payment is borne by the developer, every purchase of a certain unit house the consumer will get a bonus or gift in the form of electronics or motorbikes and others.

6. Learn the payment system and all the conditions that must be met. 

Pay attention to the terms of interest, such as the fixed rate to how long it takes to pay, the reference to the floating interest rate, penalties for early repayment, and other technical conditions. Ask all technical questions and check every purchase clause including the installment interest issue. The interest payments should not be too burdensome. If it is too big, it could be expensive. 

Buying a house requires carefulness and patience. Don't be tempted by bombastic advertisements and poster promos. It becomes a critical buyer, actively asks questions and reads every purchase clause. If you apply for a mortgage, choose a trusted and proven trustworthy bank. Pay attention to the likes of mortgage interest in the first year and the following years. 

7. Use a Mortgage Calculator to Calculate Financial Capability 

As stated from Kevin Roberts, director of the Legal & General Mortgage Club, said that borrowers, especially those experiencing financial difficulties, should examine their options. Covid-hit homeowners fear getting stuck on expensive mortgage deals.

It is very important to know the forecast of loan payments, and not be complacent about the initial payment discount so that we have a picture of the original financing that is in balance with our financial capacity. By using a mortgage calculator, we as potential consumers can determine monthly payments based on the DP and the loan term that we choose.
I make assume a house price of £ 200000,
Down Payment ( Deposit ) £ 25000 and a payment term of 15 years

By the way, let me share about the one of mortgage calculators.

Well here is the one of the recommended Mortgage Calculator applications to calculate the monthly installment value and installment period that suits our financial condition is MortgageCalculator.UK  
The advantages of this mortgage calculator are that it offers a fast, free, accurate, and unbiased calculation with totally without ads. Actually this mortgagecalculator.UK is very suitable for use by everyone around the world.
The main variables in a mortgage calculation include the principal, balance, periodic compound interest rate, the number of payments per year, the total number of payments and the number of regular payments. 

This calculator is available on the menu for UK Mortgage Repayment Calculator with Amortization, Overpayment, Remortgage. With this calculator, buyers can calculate for themselves how much the monthly installments must be paid accurately. So that it reduces to be lied to by the developer.

By entering home price, deposit, and term-years then automatically we can see the full monthly payment, Value of interest only, Total loan payment and total cost. By clicking CALCULATE, we will get a display of loan charts, graphs and amortization tables and get a specific link containing the values entered. 

For an example of the calculation results that I made, assuming a house price of £ 200000, Down Payment ( Deposit ) £ 25000 and a payment term of 15 years, the calculation link with a complete calculation are display of loan charts, graphs and amortization tables is figure out above. 

And the uniqe link as the result show of calculation is https://www.mortgagecalculator.uk/?y=15&r=3&l=175000&hp=200000.00&dp=25000,  Picture below is the performances of home mortagage repayment chart and mortgage reduction over loan term.

Using this mortgage calculator application is very helpful in terms of planning to buy a house, renovation and other property investments.

Although this mortgage Calculator is based in the UK, this application can be used by Estate agents, spouses, partners, friends, family members, flat mates, home sellers, home builders, lenders, helpful web forum users, bloggers, or anyone from the any country form around the globe. Especially if we manage a real estate website, we can easily embed a free mortgage calculator on our website. 

Wanna more experience how to use this mortgage calculator application ? Kindly feel free to try it.....



Reference ‘https://www.cnnindonesia.com/ekonomi/20200828180205-83-540468/5-tip-beli-rumah-di-tengah-pandemi-corona

Ririe Khayan

Assalamulaikum. Hi I am Ririe Khayan (Blogger, Buzzer, Coffee Lover) and live in Jogya. I’m the Author Of Kidung Kinanthi, a Personal Blog about my random thought, parenting, traveling, lifestyle, & other activity as well as Personal & Working Mom Story. Thanks for visiting my blog and hopefully will visit again with pleasure.

24 comments:

  1. keren nih artikelnya berbahasa inggris, apalagi membahas tentang hal-hal yang perlu dipertimbanghkan saat mau membeli rumah atau untuk sekedar investasi

    ReplyDelete
  2. Memang banyak banget yang harus dipertimbangkan sebelum membeli rumah yah. Aku setuju banget tuh point yang harus cek basic fasilities. Jangan sampai rumah udah okay, tapi susah cari sekolah atau malah banjir. Kan males yaah

    ReplyDelete
  3. Kalau menurut saya, beli rumah memang jodoh-jodohan. Seringkali gak bisa dilakukan dalam waktu cepat. Termasuk di saat pandmei ini juga semakin berhati-hati

    ReplyDelete
  4. Bagus nih aplikasinya membantu calon pembeli rumah menghitung DP dan cicilan bulanan rumah kita. Jangan sampai terlalu besar cicilan hingga makan pun sulit huhu..

    ReplyDelete
  5. Setuju sama semua poin yang disebut di tulisan. Banyak yang harus dipertimbangkan kalau mau beli rumah, apalagi untuk ditinggali. Satu lagi yang ndak kalah penting buat saya sih, lingkungan sosial sekitar. Bagaimana orang-orang yang tinggal di situ. Karena meskipun rumahnya bagus, kalau tetangganya rese ya bikin males juga.

    ReplyDelete
  6. Aku beli Rumah beberapa bulan lalu, hal yang gak disangka-sangka sebelumnya beli saat kondisi sedang Pandemi, Qadarullah. Setuju dengan semua poin diatas, penting juga untuk perhatikan apakah ada kondisi yang harus direnovasi dalam waktu dekat, karena akan sangat berdampak ke pengeluaran (terutama biaya tak terduga).

    ReplyDelete
  7. yang aku bingung mba di musim pandemi ini meskipun mmg banak yg jual property termasuk rumah tapi yang beli juga banyak dan tetap rame lhoo. katanya sih banyak jg yg harganya jd murah ga masuk akal...tp ttp kudu hati2 ya dg mempertimbangkan 7 hal tsb

    ReplyDelete
  8. emang bener banget, mau beli rumah di masa pandemi ini harus dipikirkan masak-masak, terutama soal dana. karena di masa pandemi gini, kita tahulah, rata-rata pendapatan pasti menurun

    ReplyDelete
  9. Setuju banget ama semua poinnya, terutama poin trusted platform soalnya sekarang tuh ada juga pengembang yg nggak amanah gitu. Iming2 pake promo yg ga realistis. Bahaya kalau terbuai kayak gitu. Bisa amsyong

    ReplyDelete
  10. Basic fasilitas perlu diperhatikan banget sebelum memutuskan membeli rumah tersebut ya mbak. Kalau di kota besar juag harus memperhatikan lokasi ada di lokasi banjir atau ga

    ReplyDelete
  11. Kalu orang Jawa bilang, beli rumah itu semacam "pulung", untung-untungan. Kalo dah rejekinya, pasti bisa kebeli. Tentu harus mempertimbangkan kemampuan keuangan juga ya. Keren banget nih ada kalkulator penghitung untuk KPR, jadi bisa memperkirakan segala sesuatunya ya..Btw, you're very good in English :)

    ReplyDelete
  12. Emang harus banyak pertimbangan untuk beli rumah atau properti lainnya ..apalagi untuk hunian..dan harus bener-bener cek sendiri ya.. Jangan cuma percaya sama katanya..

    ReplyDelete
  13. Mantep ini tipsnya. Aku sendiri beli rumah pilih yang strategis dulu, pas mau pindah kok mau pindah lagi ke kota lain. Akhirnya di investasikan aja dulu. Membeli rumah buat tempat tinggal atau investasi banyak yang harus diperhatikan ya.

    ReplyDelete
  14. Yes, using trusted platform for buying house is a must
    We have to think double also before dealing with seller

    ReplyDelete
  15. Beneran banyak pertimbangan sebelum beli rumah. Duit number one bangett. :D Itu ngitungnya dibantu kalkulator yaa, Mbak. Langsung ketemu perkiraannya, yaa.

    ReplyDelete
  16. Boleh juga ni hitung mortage by selama ini orang fokus harga rumahnya doang tapi ga mikir DP nya berapa, cicilannya berapa untuk tenor itu tau tau nyicil aja.... Nice info mba

    ReplyDelete
  17. Bener sih kalo membeli rumah meski masa pandemi harus tetap hati-hati. Point yang Ririe tulis itu tetap bisa jadi acuan dalam memilih rumah. Karena memilih atau membeli rumah itu memang susah -susah gampang juga kok

    ReplyDelete
  18. Kudu teliti dan melihat harga pasaran dulu yaa..
    Gak pengen invest malah jadi rugi sendiri nantinya. Tipsnya sangat membantu, kak.
    Haturnuhun.

    ReplyDelete
  19. Wah, well noted banget deh tipsnya. Jadi tahu deh sekarang gimana investasi.

    ReplyDelete
  20. Bener, beli rumah itu harus sabar, jangan tergiur iklan yang bombastis tentu saja. Asik banget nih ada aplikasi untuk menghitung nilai investasi bangunan.

    ReplyDelete
  21. kalau ada dana lebih memang OK nih investasi rumah di masa pandemi karena property banyak dijual murah. Yang lain BU gitu alias butuh uang. Setelah beli, tunggu 5-10 tahunan semoga pandemi segera berakhir, insya Allah bisa dapat untung, deh.

    ReplyDelete
  22. Trusted home buying dan fasilitas ini yang pentingggg banget. Sekarang banyak banget pengembang, tetapi tetep kudu pilih-pilih yang amanah dan track record-nya udah oke. Fasilitas? ini juga gak kalah penting agar nantinya lebih nyaman.

    ReplyDelete
  23. Huaa mba, doakan ya aku dan suami insyaallah mau beli rumah. Semoga kali ini berjodoh dg rumah yang sudah kami incar. Di satu sisi memang banyak yg jual karena butuh. Di sisi lain ndilalah kami jg butuh rumah. Sekaligus mau jual rumah lama kami juga. Yang cari rumah di depok bisa intip Instagram ku @dian_ismyama highlight rumah. Hihi maaf numpang iklan y mba. InsyaAllah kalo rumahnya laku mau buat tambah2 bayar rumah baru. Aamiin

    ReplyDelete
  24. Aku pusing mbak bahasa Inggris nya buat aku keberatan jd gak mudeng hihihih

    ReplyDelete

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