Buying property is a tricky thing to do.In addition to requiring large amounts of funds..
an understanding of the terms in the KPR system is important so that no missteps. Malu bertanya, sesat di jalan (ashamed to ask, astray on the road) ̶̶ one of the Indonesian Proverbs, as well as about buying a house. For millennials who want to apply the KPR system for the first time, terms like down payment, fix or floating rate may still sound unfamiliar. Therefore, here are some explanations of important terms in the KPR system that need to be known:
KPR itself is an abbreviation of Home Ownership Credit ̶ Kredit Pemilikan Rumah. This method of payment is often applied by home buyers. KPR is a payment system for houses or other consumptive goods by installments using certain collateral. Usually, when applying for the KPR system, several conditions must be fulfilled by the home buyer. One of them is paying DP to the developer (developer).
Down Payment (DP) most people are often heard. If you buy a house with the KPR system, initial funding is needed as a sign that you will buy the house. This funding is what is meant by DP money.
Booking Fee is usually used by salespeople when launching events. This fund is proof of the sincerity of the customer who wants to buy a house before entering the DP payment. By paying the booking fee, then automatically the remaining costs to be paid as DP also reduce.
BI Checking is a determining point of whether or not a KPR application is granted. This term refers to an examination conducted by Bank Indonesia. Since house prices tend to be relatively expensive, you have to have the ability to pay each month. If the results of BI Checking are found to be a problem, there is a possibility that the KPR application will be rejected and the risk will be included in Bank Indonesia’s blacklist.
Appraisal is an assessment of house prices conducted by the bank before providing a mortgage KPR system. The deputy of the Bank will visit the house to be purchased and decided price.
Tenor is the period that will be taken for repayments. Generally, tenors are available in 10 years, 15 years, 20 years and 25 years. Determination of tenor can be seen from the ability to pay, age, work of home buyers and other supporting factors.
Plafon is the term used for the total loan or credit given by the bank. The number of plafon is usually at 80% of the house purchased. These costs will then be repaid monthly by the buyer.
Akad is referred to in the term KPR is an agreement made between the home buyer and the bank as proof of the commitment that both will carry out their rights and obligations. If there is a violation, then there is a sanction that must be carried out by the violating party.
Agunan or warranty is required by the bank if the home buyer is unable to pay off the KPR. When applying for the KPR system, usually a letter of ownership of the house will be held by the bank as Agunan. So, the bank will confiscate the house automatically when the KPR does not go well.
Flat / floating rate is the term for the interest rate of KPR installments. It is common knowledge that KPR installments have interest costs that must be paid each month. But usually, for the first few years of the installment, the bank will provide a flat rate. After that, the bank will let the interest rate float according to bank calculations. This is what is referred to as the floating rate.
After knowing all the terms, now is the time for you to determine your dream home. If you miss the feel of a green housing environment and complete facilities, Puri Botanical is located in West Jakarta is the answer. Developed by PT. Copylas Indonesia which is a subsidiary of PT. Jakarta Setiabudi Internasional, Tbk (JSI), Puri Botanical offers 8 elements in its housing namely premium location, modern life, exclusive area, botanic housing, environmentally friendly architecture, family time, renowned developers and private lifestyle.
Currently, Puri Botanical is trading the newest residential unit, Gracia. If you are interested in finding out more, please visit the Puri Botanical Marketing Office, located on Jl. Joglo Raya No. 48, West Jakarta or contact our marketing team (021-5870077).