5 Ways to Buy a House for UMR Income

Having a comfortable home or residence is everyone's dream. Unfortunately, not everyone can make it happen. The biggest reason is cost. UMR income is difficult to own a dream house in a short time.

5 Ways to Maximize UMR Salary to Buy Your First Home

However, when examined further, actually young people with a UMR salary can still own a house. There are many ways to make it happen if you want to seriously fight for your dream home. The following are 5 ways you can do to buy a dream house even though the salary is equivalent to the UMR.

1. Set aside 30% of your income for a house down payment

If it is the intention of owning a house, it must be accompanied by the intention of saving. Especially with the UMR salary, which most likely runs out of money first for domestic affairs, then you must be determined to save.

If it's really hard to save, then you should evaluate your monthly expenses. You have to be willing to reduce lifestyle activities such as hanging out at cafes with friends, buying clothes, or buying vapes.

2. Increase Income with Online Activities

As for if you are unable to set aside up to 30% of your income for home savings, then you must be determined to increase your income. You have to open a new faucet to get the coffers of money.

You don't have to work at someone else's place, especially if you've been working all day. It would be better if you work online. You can sell online, create content on social media, or do live streaming on several media.

3. Consider Buying a Subsidized Home

Currently, the government, supported by various parties, is trying to realize the dreams of Indonesian citizens, especially millennials who want to own a house. You don't have to wait in your 40s to get a house. But in your 20s, you can get a house that has been subsidized by the government.

Of the many subsidized houses, you must be observant in buying subsidized houses. You have to hone this foresight for a long time because you have to consider various factors. If you want to buy a subsidized house, at least you have to have various considerations for 1 year, so you don't regret it later.

4. Learn to Determine Reasonable Installments

If you want to buy a subsidized house, of course, you are asked to pay in installments for the next 5-20 years. This installment payment method must be trained from the start. It is feared that one day you will not be able to pay the installments just because you are not good at managing finances.

The amount of installments allowed by the developer is a maximum of 30%. So try to train yourself, can you set aside 30% of your monthly income? If you can, try to check the amount of money you set aside every month, according to what type of subsidized house and where is it located. So you have to be able to adjust to choosing a subsidized house that is right for you.

5. Use IMFF Money with Careful Calculations

If you don't want to get a mortgage or borrow money from the bank, then another way is to use the IMFF money for your wife, in-laws, family, and friends. But if you want to borrow their money, then you have to be someone who can be trusted.

Of course, borrowing money from relatives in large amounts and for a long period, then you must be aware that there will be interest to be paid per month. Also, talk to relatives about the consequences if you are late paying. Make sure that this agreement is written on paper with the consent of both parties as well as presenting trusted witnesses.

Conclusion

Those are 5 ways you can do to own a house even with UMR income. In the end, it is your intention and hard work that will lead you to own your dream home at a young age.

Intend that you want to protect your family in a proper home. That way, you will be enthusiastic about working, consistently saving, and trying to be more responsible for your dreams.