# 1 Automatic Saving For DP
This is a step that some people may have heard of. Don’t get bored.
According to many studies, the main difficulty of owning a home is save money for a house not having the funds to pay down payments which are a prerequisite for mortgage loans. Meanwhile, it is almost impossible to take the house if it is not through credit to the bank.
Therefore, like it or not, down payment must be collected if you want to own a house. How do I collect DP?
The most basic step is to save from income. However, many cannot manage their finances properly, making it difficult to collect down payments.
According to the Acorns survey (2015), we quote from the Post, that nearly half of young people spend more of their money hanging out at coffee shops than saving for retirement.
The most effective way is to save when you receive a salary. Do not delay until the end of the month, but when the salary enters the account, immediately set aside for a down payment.
One of them is that they can take advantage of the Mutual Fund Auto-Invest feature, which is to automatically deduct a certain amount and time each month to invest in the Mutual Fund instrument that has been previously selected. By making the process automatic, you will automatically save regularly.
Compared to saving advances in savings, mutual funds provide instruments that provide higher returns with a good level of security. An example is Money Market Mutual Funds.
However, we strongly do not recommend saving a down payment on the following instruments:
- Equity or Mixed Mutual Funds because even though the potential return is high, the high risk makes these two instruments not suitable for the nature of DP collected in the short term.
- Especially in Investment Insurance (Unit Link). It is not recommended because of the large cost discount in this type of insurance.
# 2 Buy Apartments Near Transportation Access
Landed houses are clearly not cheap in City and its surroundings. The high price of land automatically causes the price of houses to rise as well.
If you want to have a house at an affordable price, the location is very far on the outskirts of the city. People say, the location is at the end of the berung.
The solution, you can buy an apartment first. The advantages of buying an apartment are: (1) the price is more affordable than the landed house; (2) the location of the apartment is generally quite strategic.
We have conducted a survey of several apartments that are quite affordable. In the price range of 200 million to 300 million.
The location is indeed quite far from the city center. However, this apartment is close to public transportation, such as KRL
Currently, several developers and local governments are developing TOD (transit oriented development) that integrates property with public transportation networks, such as KRL, MRT, LRT and This can be a target for millennials.
Do a survey to visit the means of transportation that are being built actively. Most likely there is an apartment in the vicinity that is being built.
# 3 DP Installment Program
The difficulty of the first jober, novice workers, is not having a down payment.
One solution is to join the DP installment program. You make an advance payment for a certain period of time.
For example, the developer gives 22 months for prospective buyers to pay down payments which are calculated based on the predetermined purchase price.
Prospective buyers pay down DP installments to the developer. After the down payment is paid off, then prospective buyers apply for credit to the bank.
The price was agreed upon in advance. Therefore, when it is paid off a few months later, the purchase price will not change from what was agreed upon.
Although this program is quite helpful, there are a number of things that you need to pay attention to, namely:
- The purchase price with DP installments is higher than without DP installments. This is because the developer “loses” the time waiting for you to complete the down payment.
- If in the middle of the road, you fail to complete a DP installment or finally your credit application is not approved by the bank, then the installments that have been paid will be forfeited.
have to pay more and more swelling. Instead, there could be greater interest than principal debt due to the length of the loan period.
That is true about the amount of interest that increases with the life of the loan.
This means, according to many financial planners, there is no problem owing to assets whose value continues to increase because in the end you will profit from an increase in the value of the assets that is greater than the credit interest that must be paid.