Want to buy a house? Should you choose a new or used house? How to save money so you can buy your dream house?
Choose to Buy a New or Used House?
If you want to buy a house, have you made your choice or are you still unsure about choosing between a new house and a used house? Let's find out the reasons for buying a new house or a used house.
Reasons to buy a new house
If you want a building in really prime condition, then consider buying a new house. If you also want a modern design, then a new house is the right choice because newly built houses generally follow the current trends. There are many new house designs, you can choose the one that suits your taste.
Apart from the reasons above, if you buy a new house, you are less likely to spend money on maintenance. The house condition is still completely new and and the house itself has never been inhabited by anyone else before. So, it doesn't require maintenance that costs a lot of money. However, there's no harm in starting to prepare savings for future house maintenance and renovation (if necessary).
With all the advantages that come from buying a new house, of course there is a price to pay. Usually, buying a new house is more expensive than buying a used house. The price becomes more expensive if the new house is located in a strategic area.
Reasons to buy a used or previously owned house
Why consider buying a used house? Turns out, there are many interesting reasons. If you want to own a house at a cheaper price, then a used house is the right choice. Not to mention if the home owner wants to sell it as soon as possible because they need money. The possibility of negotiating the price is more open than buying a new house. You can also negotiate with the home owner regarding the furniture in the house.
However, there is one thing to note. Prices for used houses tend to be cheaper. But, you are likely to prepare more money for maintenance or renovation. The used house has been lived in at least once, maybe more.
For those of you who like a busy atmosphere, you can also consider a used house. Usually, used houses are in residential areas that have already been established.
In conclusion, there are many factors that make someone ultimately choose to buy a new or used house, such as the available budget and individual preferences.
One more thing, don't forget several important things when buying a house, such as complete documents (legality) and house sale and purchase tax, both new and used houses.
How to Save Money to Buy a New or Used House: Tips for You
In the Jago app, you can save for your dream house and manage money for various other needs the way you want.
1. Save money to buy a house using the Jago Pocket
Start saving money regularly and consistently using the Jago Pocket. Why the Jago Pocket? Because you can create lots of Pockets to manage various needs.
Create a separate Jago Pocket as savings for buying a house and paying off house loan installments. For other needs and expenses, you can separate them by creating a different Pocket for each one.
2. Save money easily and consistently in your Jago Pocket with Auto-Budgeting
To grow your savings more quickly, don't skip saving. In the Jago app, you can use the automatic budgeting feature available in your Jago Pocket.
How to allocate a budget automatically is very easy. Select the Pocket you want to allocate funds to automatically, in this case of course the Pocket for buying a house. Set the budget you want to automatically transfer to the Pocket along with the time and frequency.
3. Maximize savings to buy a house with the Jago Term Deposit and the Jago ecosystem
Savings that have been accumulated in sufficient amounts can be maximized. Move your savings to a Jago Term Deposit. You will get competitive interest and experience flexibility for renewal and withdrawal options.
There is an option to automatically renew the deposit principal funds and interest when it matures. If you want to withdraw your deposit before it is due to buy a house, you can do so without worrying about fines or penalties.
Apart from that, the good thing about choosing to save money in a Jago Term Deposit is that you can open, withdraw and close it directly from the Jago application, from anywhere and at any time.
What is more, you can also maximize your savings for buying a house by investing in mutual funds and stocks.
Invest in Bibit mutual funds without switching apps and enjoy free top-up fees from the Jago app. But first, link your Jago and Bibit accounts. After buying some mutual fund products, you can monitor your investment portfolio via the Bibit Pockets that appear in your Jago app.
You can enjoy seamless stock investments at Stockbit using Jago RDN. Open Jago RDN in just a matter of hours and you can invest in stocks afterwards. Top up your Jago RDN balance directly from your Jago Pocket.
So, do you want to buy a new house or a used house? Whatever your choice, time to start preparing savings and managing your finances the way you want with Jago so that your dream house can soon be yours.
