A home represents one of the basic human prerequisites in order to live a good, fulfilling life. It therefore makes sense that many people are willing to make the necessary savings and sacrifices to invest in their dream home. However, when buying a home, many do so without being fully informed, and thus risk making costly errors. The following are some common issues that many people encounter when buying their first home.
1. Documents Required
When buying a house, necessary documents include the Property Certificate (SHM), the Right to Use Certificate (SHGB) and the Land Management Right Certificate (SHPL). SHM is a certificate of full ownership of land and/or land rights held by a particular certificate holder. SHGB is the right for someone to establish and own buildings on land that is not his own. SHPL is a right delegated by the State to the holder for use of the land.
2. Standard Prices
Before buying a house, it is advisable to do some research on the market prices of houses and land in the location you want. This will allow you to compare prices when attending a property exhibition, for example. Knowing the standard prices of the market will enable you to calculate the home purchase budget.
3. Calculating Home Ownership Credit (KPR)
Ensuring your finances are in order before making a home purchase is very important. Therefore, before deciding to buy a house you need to know the cost of Home Ownership Credit or KPR. In this calculation, you can estimate the costs involved in repayment of the house investment within the desired time period. There are several sites that provide a simple mortgage calculation simulation – you simply list property prices and choose the time period and estimated interest rates.
4. Calculating Tax Fees
When purchasing a house, you need to know the tax fees for the acquisition of land and building rights or BPHTB. BPHTB is a levy on the acquisition of rights to land and/or buildings that must be repaid for the purchase of houses or land. However, each region has a different BPHTB cost, so make sure you know the BPHTB costs at the location of the house you want to purchase.
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