Here are some tips for making this plan come true:

Favorable credit offer

If a young person talks to their parents and grandparents about buying a property, they'll realize that a lot has changed over the years, but what hasn't changed is the fact that it's still a profitable investment that offers security to those purchasing the property.

Buying your first home is accessible in Brazil, as banks are offering low-interest mortgages and construction companies are offering easy down payments. Especially during 2020, mortgage financing is gaining a lot of traction. It's a type of relationship that banks want to have with their clients, who can count on up to 35 years to settle the contract.

Think like an investor

One of the big differences between the buyer profile of decades gone by and buying a property today is that it doesn't mean you're going to live in it for life. 

The idea of buying an apartment may seem very definitive for those who are just starting out in their professional lives and are still unsure about what they're going to do in the next few years, but imagine that buying a property is just the first step in building your assets. 

Therefore, the choice of property can be made with the aim of renting it out, or reselling it once it has appreciated in value. 

Allocate your money to something profitable

Do you know when you finally get a job and your salary is enough to live on your own? It's at this point that you have to evaluate: is it the right time to move out of your parents' house to pay rent, or is it already possible? investing in your own property?

The tendency of those who earn a good salary is to spend it on outings, shopping and travel, and this can mean that the good opportunity to start life with tangible achievements doesn't materialize.

If you're at this stage of your career, make a plan that includes leisure time, but also allows you to start spending on something that will bring you a financial return, such as a property.

The power of extra income

If you're between 20 and 30 years old and don't yet have a salary that allows you to invest in a property, but you do have this goal as part of your achievements, one way of encouraging yourself is to make extra income. 

Look for activities where you can put in extra hours on top of your work and start saving money. Little by little, the extra income will prove to be an important differentiator in your budget, and you'll be able to plan the purchase of your property.

How do you choose your first property?

In order to know exactly what your possibilities are, and what kind of planning you'll need, you need to get to know what's on offer on the real estate market. Start searching for the type of property you dream of. The one that will have everything you consider indispensable when thinking about home ownership.

If this is already a property you can afford, evaluate the conditions and find out about other options of the same standard.

However, if your income doesn't yet reach your dream property, don't hesitate to start with something that will be the stepping stone to getting there!

If you're buying to live in, assess your needs over the next five years. Look for properties that are well located, but not exactly next to your work. You can find great options in less centralized neighborhoods that offer all the facilities you'll need.

If your choice is for investment, talk to realtors and real estate consultants and find out what's hot on the market, what clients who want to rent are looking for most. From there, you can direct your purchase towards a loft, two- or three-bedroom apartment, for example.

Buying off the ground is an excellent option!

During this search for what's on offer on the market, don't forget to check out the real estate on the drawing board. In this case, it's as much about deciding to live as it is about being an investor.

Properties sold off the ground usually cost up to 30% less than ready-made ones, and have the great advantage of offering modern designs. Another advantage is the payment terms. Negotiating the down payment for an apartment on the ground floor is much easier than having to deal with the bank in the first instance.

With this, you can take on the responsibility of buying your property and negotiating with the builder, until the bank financing stage arrives, when the development is delivered and you can be in an even better financial position.

Plan and do!

After doing this market research, getting to know the reality of your expectations and the reality of real estate, it's time to put everything on the table. This is the time to adjust your budget, understand whether the way you are managing your earnings is adequate and how much you have to gain, and start having an investor's mindset from an early age.

Talk to other friends who have already made this decision and also to professionals in the field. Set yourself the goal of buying your first property and draw up a plan to achieve this goal, which will certainly be a big step towards a more productive start in life.

If you want to learn more about the real estate market in Greater Florianópolis, you can count on Supera Urbanismo's exclusive sales team, the professionals at Mafra & Roman Corretores Associados are ready to present the best to take the first step towards your conquest!

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In any situation, buying your own apartment comes with a series of responsibilities related to this important acquisition, so doubts can arise about whether you're getting a good deal. If you are in this time to chooseIf you're about to take the important step of buying your first apartment, stay with us, we've prepared a guide to make you feel more secure and prepared before signing the contract.

1 - The right choice

When you think about buying your first property and start researching, you come across dozens of offers. There are different types of apartments all over the city. But which one is right for you? The main points you need to take into consideration are:

• Location: Your new address should be part of your routine in a practical way. Take into account your commute to work, or the number of activities you do before or after work. Do the math on time and transportation costs, for example. Sometimes an advertisement for a property can be very attractive for the price, but it is totally out of your daily routine, in which case evaluate what will be most advantageous.
  Issues such as safety and the level of development of the neighborhood are also very important, not least for the constant appreciation of your property.
• Structure of the enterprise: Your time is valuable! Imagine being able to make it pay by living in a condominium that offers various leisure possibilities, areas for physical activity and even a place to work? It's possible, and often for a more affordable price than you might think! Before you make any kind of decision, know all the opportunities within your reach.
• Planning for the coming years: If you're going to invest in your first apartment, think long term! Number of bedrooms and parking space are the reasons why people need to move more often. Often, an apartment with an extra room will fit into your budget and will give you peace of mind for years to come, without having to think about moving so soon!

2 - Financial planning

Once you've defined your ideal apartment, it's time to look for one that's compatible with your monthly income. The news of frequent falls in the Selic Rate, which in 2020 is expected to be 2% per year, has heated up the real estate market. This means it's cheaper to take out a mortgage, since the interest rate is considered to be the lowest in Brazilian history. 

You can do a simulation with different banks to find out about their offers and possibilities, especially if you already have a customer relationship. 

How do you calculate how much your home will cost? In the more traditional lines of credit, banks assess your monthly income and indicate that the installment of the property should be between 20 and 35% of the gross family income. It is possible to make up the income with your spouse. In a family with a gross income of R$6,000, the mortgage payment should be between R$ 1,200 and R$ 2,100.

If the property is used, you can finance up to 80% of the total value. In the case of off-plan properties, it is possible to negotiate the down payment with the builder during construction, and finance 70% of the property only when you receive the keys.

Therefore, the total amount of the loan will depend on how much you put down, whether or not you used your FGTS and how long you intend to pay for the loan, which can be up to 420 months, the equivalent of 35 years. 

All these calculations can be made using simulations at the various banks that offer housing loans.

• Don't be taken by surprise! When you buy a property, it will be registered in your name at the municipal registry office, and this must be paid as soon as the deal is formalized. The costs of registering the property and the ITBI (Imposto de Transmissão Bens Intervivos) amount to around 5% of the property's value, with each municipality applying its own rates. This means that, for a property worth R$300,000, you'll need another R$15,000 to pay the costs.

It is possible to include these costs in the amount of your loan, so find out when you sign up!

3 - Ready apartment or floor plan?

This decision is very important and is directly related to your time and investment possibilities. If you can wait a few months, it's worth looking for off-plan properties. In this case, you'll be able to pay less for a better, larger property.

When you buy a property on the drawing board, it costs, on average, up to 30% less than a ready-made property of the same size. In this case, your budget can afford an apartment on a higher floor, with more bedrooms and in a better area, for example.

However, if you need a property right away, do a lot of research among ready-made apartments. Sometimes it's possible to get units with planned furniture, air conditioning already installed and other facilities.  

4 - Do I need a broker to buy an apartment?

You can negotiate the purchase of a property without the intermediation of a broker, but it is always advisable to carry out any type of real estate transaction with the assistance of a professional qualified as a broker.

The participation of a broker will facilitate all the processes for the interested parties, whether it's the seller of a used property or the construction company that sells both new and pre-owned properties.

With the participation of a broker in the deal, you will be able to clear up all your doubts about the best interest rate to choose for your financing and carry out a simulation; get to know the property and all its possibilities and also rely on their knowledge of the market to recommend a property that is suitable for your profile. 

The participation of a real estate agent at the time of purchase will make the deal better structured, avoiding having to deal alone with any kind of setback, especially when the negotiation takes place with other people and not with companies.

Security for the best deal

Are you more confident about buying your first apartment? It's natural to have doubts about the process of buying an asset like a property, after all, it's something that will receive your investment for a long time, and which has the great chance of always appreciating when you make a good choice.

Apart from these aspects, are there any questions you have about buying your first property that aren't covered here? Count on us to help you through this process! Leave your comment and participate in this environment, turning it into a space for learning and sharing experiences!

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