Airdrenica.com – Home property prices are skyrocketing all the time. This forces us to think harder in finding ways to save money to buy a dream home. If not, it could be forever that we will not have our own house, unless you have an old money background.
Quoted from Kompas, rising inflation can have a major impact on the housing sector in Indonesia. The Minister of Finance of the Republic of Indonesia, Sri Mulyani, even revealed that it will be increasingly difficult for people to buy houses, especially for those with mediocre or uncertain incomes.
Ways to Save To Buy Your Dream Home
So, what can be done to deal with this condition? Silence will not provide any solution. Therefore, you can try some of the following tips in an effort to buy a house in the midst of economic conditions that are not fine.
Describe The Cost Of Buying A House
According to Tirto’s data, buying a livable house in Jabodetabek at a price of Rp. 100 million to Rp. 200 million is not an easy matter. This means that house prices in these areas are generally already at a much higher number than that.
So, before buying housing, you must describe how much it will cost. Next, you also need to calculate how much income you earn each month. This is done to measure your abilities, about what kind of house and in which area, you can buy.
This way of saving to buy a house applies to all people. For those of you who are single or married—whether with single income or double income, everything needs to adjust the amount of income with the price of the house. That way, the saving process can be done without neglecting other needs.
For those of you who are single, the opportunity to be able to save is much greater than for those who are married. This is because the needs of a single person are generally less than those of a married person. Therefore, take advantage of your status as a single person to manage finances as well as possible.
Create An Expense Post From Income
According to The Balance, it doesn’t matter what your marital status is, it’s very important to make an expense item or a monthly income allocation. However, these expenditure items will differ from one another.
For singles, expenses can be divided into several sections—starting from daily necessities, emergency funds, insurance, as well as savings for assets such as a house.
For married couples, the allocation of expenditure funds is much more complex. In addition to their daily needs for themselves, they also have to meet the needs of their families. So, the amount of income that can be saved can be less, especially if there is only single income in the family.
Therefore, married couples need to communicate intensively to determine the amount of savings from their income. Single income couples should as much as possible reduce spending for consumptive purposes in order to keep saving.
Meanwhile, for husband and wife who both work, they can use the income from one party to meet their daily basic needs. Then, income from other parties as savings for home purchases.
Live A Frugal Lifestyle
The way to save to buy the next house is to adopt a frugal lifestyle. This is very suitable for those of you who are single, considering that one of the causes of a single financial problem is a hedonistic lifestyle.
To realize your dream of buying a house, you can minimize consumptive expenses, such as eating out, hanging out, traveling, buying the latest gadgets, and so on. Then, transfer the allocation of consumptive funds to home savings.
The same goes for married couples. You also have to get used to it and all family members to live frugally. What’s more, for married couples, the need for housing is much more urgent than for singles.
On the other hand, their needs are also much more. So, the way to save to buy a house for people who meet these criteria must be clearer and more focused. Thrifty does not mean stingy, married couples still have to meet family needs first before setting aside funds for home savings.
Create A Special Bank Account For Home Savings
This method can be done by singles or married couples. Yes, having a special savings account can indeed support a person’s discipline to set aside income.
If a single person is only responsible for his own needs, married couples are not. They are responsible to their respective partners, as well as to their children if they already have children.
Therefore, to set aside the income earned, a special savings account is needed. This account will then become a place to store income before the income funds are divided according to the required expenditure items.
Save To Buy A House By Investing
Investing is also a surefire solution for people who are raising funds to buy their dream home. Whether singles, married couples with single income, or double income couples, all of them are recommended to invest
How to save to buy a house by investing is quite promising. You can choose the type of investment that is suitable for you and your family’s characteristics. For example, by investing in mutual funds or gold. Both of them have a small risk so it is much safer.
Take Advantage Of The Facilities At Work
There are some workplaces that provide special housing allowances. In addition, not a few offices or institutions where they work provide special loans for their employees to buy a house.
You can make the most of this opportunity. Try to find information about what funds can be obtained from the company to support our dreams of owning a house.
It doesn’t matter whether you are single or married, if you are eligible for the funds, apply immediately. Do not let this opportunity be lost, and finally the process of saving to buy a house becomes neglected.
Match Goals With Your Partner
This way of saving to buy a house is more emphasized on married couples. Because, there are two heads united. Therefore, both need to equate perceptions in order to achieve a common goal.
Married couples who both work are usually seen as having a greater opportunity to save money to buy a house. In fact, this couple is also not spared from financial problems. In fact, the more income, the greater the possibility for problems to arise.
Likewise with single income couples. Financial problems, especially those related to the amount of income, will generally color this household.
According to Moneymax, one of the keys to financial health for couples is to understand each other’s views on money. The husband must understand what the wife’s personality is about money, and vice versa. This will further make you understand what your partner expects.
From here, start to equalize goals with your partner. Communicate well that of the income earned, some will be used for home savings.
Maybe one of you does not agree because he thinks a house is not something he wants with his income. This is the challenge, have an in-depth discussion to find a solution that a house is a basic need that must be worked on together.
Don’t Give Loans
It is not uncommon for people who have a regular income, either single or married, to become easy targets for debt. Well, being firm and not giving loans to these people is a way of saving money to buy a house that is quite accurate.
You can direct them to seek loans from financial institutions with clearer terms. This needs to be done as a preventive measure. Given that it often happens in society, many people are in debt, but it is difficult to collect.
Tips For The Sandwich Generation So You Can Buy A House
The sandwich generation is one of the most difficult generations to find ways to save to buy a house. This is inseparable from his difficult position in life.
Reported by Forbes, the term sandwich generation refers to a group of individuals who have to live between two generations at once. They have to take care of their children and their parents at the same time, so it often triggers stress, both emotionally and financially.
Let alone buying a house, to meet the needs of everyday life, this generation often has difficulty. So, how do you get these sandwich generations to have their own homes?
Discussion With Parents
According to The Balance, how to save to buy a house for the sandwich generation can be started by discussing with parents. You can disclose your goals and financial condition, then record all assets owned by your parents.
This method can allow you to get help from your parents if their financial condition is still good. If not, at least your parents know what your financial condition is so they will be aware of the various limitations that are given when caring for you
Discussion With Children
Discussions with children also need to be carried out to support the implementation of how to save to buy a house. Let the children understand that you are trying to buy a house for them. That way, they can help by being frugal, not asking for strange and expensive things.
Here are some steps that can be taken so that we have enough savings to buy a house. For best results, start all of these ways with an intention, and then stick to it consistently.
Basically, there is not much difference between how to save to buy a house for singles and others. All methods mentioned can be applied, regardless of marital status. The only thing that differs is the amount of funds allocated for each expenditure item.