Pro Tips for Millennials to Get A House

It's been a few years that my family questioned why I haven't had the interest to get my own house. Only later a few months back, I finally put my interest in looking for houses. 

Looking for houses was fun and games, until when it comes to the actual process with the Bank for the mortgage and stuff. 

During the searching experience, I also finally figured out the reasons why millennials are harder to get a house, compared to the older generations. Which, got me to understand why the process was quite of a journey for me. 

The process for me to finally got the house was quite long and too many going back and forth because no one seemed to tell me in detail what I might need to prepare before I can finally get my house. 

So you won't need to experience too many troubles as I did, here are some pro tips you can prepare to get a house, in this case through a Bank's loan or mortgage. 

Saving Up! It's Not Only about Down Payment!

When it comes to buying a house, the money that you will need at the beginning is not only about the Down Payment. During the process, you will face a lot of paperwork, going here and there back and forth, and not to mention also the first few weeks of moving, you will need some of the main furniture or repairments in the house ready. For that, it means that you will still need a lot of money.

If the house and the bank usually require around 10% - 15% of the price for the Down Payment, to be safe, it means you should have your money ready to be around 20% - 30% of the house's price. This extra money will be used for the extra expenses that you will face along the way. So, the first pro tip is for sure SAVING UP!

Be Patient! You Don't Always Need the Newest Smartphone!

Still, with the same energy as the saving up, you should also be patient. The saving up process and the searching process are going to take a really long time and a lot of effort. Be patient, and be more mindful with your spending. You don't always need the newest smartphone. It's okay to stay with the same one for a few years until you get your dream house :) 

Keep Looking!

To know where to look, is also important!

Living in the modern era, we are actually being fortunate that we can look for houses through the internet first, before actually visiting the house. There are a few property websites that you can use to look for houses. Some of the websites that you can go to look for houses are the following:

- Property Website

- Rumah123

- Rumah.com

It is also important to see the credibility of the website. Since we're looking for houses which will require a lot of money, of course do not trust any website that will require you to deposit/transfer the money in advance. Through the property website, the information that you will need is actually:

1. The details of the house with the specification,
2. The price & possible mortgage scheme 
3. The marketing contact that you can approach
4. Address of the marketing gallery & the actual house location. 

The searching process is fun and games! It will take time, and don't rush.

If You Had Other Jobs Before the Current One, Prepare The Letters!

After you find and select the house that you want, then you will need to go with the process with the Bank. This process also will require a lot of effort, especially if you have had a few other works before your current ones. For some reasons, Banks will tend to reconsider if you used to move between jobs. And if you did, you can prepare the letter that officially stated that you used to work there, in advance. These letters will be needed (sometimes) because the Banks will probably ask for some proof to show you actually worked there before your current job. When you have time, you can prepare it in advance. Besides for this mortgage administration, you might also need to use it later for other purposes. So, it's a win-win action. 

Make Sure to Keep The Communication Well Between You and Your Current HR, and The Previous Ones!

This one tip is one thing that people tend to think not important, while in fact, it is important. Not only for this matter, maintaining good relations & communication with other people is always good for ANYTHING in our lives! During the process to get a house, during the process with the Banks, they will actually need to call (to assess & verify your data) not only to your current company but also to your previous ones. With this, the least that you will need to do is to call your current and previous HR and telling them that you're currently in the process of getting a house and there might be people from the Banks calling them. With this, imagine if you don't have a good relationship with them? Or imagine if you quit your last job, not in a good way. Do you even think your previous HR will likely to answer your call or the Banks call for you? Even if they answer just because they have to, when they don't like you, the way they answer the Banks will surely be in a good satisfying manner that will possibly make Banks reconsider your mortgage application. 

Keeping good communication here also includes if you will need to prepare an official letter stating that you worked in your previous office. The process will surely take a much faster time if you have good communication and relation with your previous office. 

Thus, it is always important to maintain a good relationship with anyone, for any reason or for nothing at all. We never know what the future may hold, right?

With that being said...

Trying to get a house is not only about the money that we can prepare, but it is about a whole other process too. Make sure it is what you want to get and want to proceed because if you're only going with a half heart with it, the process will be a quite-hell of a journey. But if you're fully hearted to the process, it can still be enjoyable. Especially when you finally the the house of your dream :)