How to buy a car or property without compromising your budget
Purchasing a car or property is one of the most important financial decisions of your life. To ensure this choice doesn't cause financial problems, it requires a lot of planning, research, and strategy.
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This guide will show you how you can buy a car or property without compromising your budget, ensuring a sustainable purchase aligned with your financial goals.
Why is Financial Planning Essential?
Solid financial planning is the foundation for successful decisions, especially when it comes to major purchases like cars or real estate.
Without proper planning, the chances of financial imbalances increase considerably, compromising the achievement of other dreams and goals.
According to the Central Bank, more than 701,000 Brazilians have some type of debt, with mortgage financing being one of the main ones.
This highlights the importance of planning before purchasing an asset, so that the commitment does not become a financial burden.
Furthermore, planning allows you to assess the impact of the investment on other areas of your life.
Consider fixed expenses like food, education, and leisure, so you don't have to sacrifice quality of life.
For example, if your monthly income is R$10,000, committing more than R$30,000 of that amount to financing could cause problems in the long run.
Another benefit of planning is anticipating unforeseen events.
If you build up an emergency fund to cover unexpected expenses related to the purchase of the property, you'll be better prepared to deal with situations that could destabilize your finances.
+ Why reevaluate your retirement planning every year?
How to Choose the Best Payment Method?
Choosing the right payment method is one of the most important aspects of ensuring a hassle-free purchase.
There are several options on the market, such as financing, consortiums, and cash payments, each with its own particularities.
Financing: Benefits and Care
Financing is ideal for those who need the item immediately, but requires attention to interest rates and repayment terms.
In 2024, average interest rates for real estate financing will vary between 9% and 12% per year, while vehicle financing rates could reach 20%.
Carefully analyze the CET (Total Effective Cost) to understand the real impact of financing on your budget.
Another tip is to check the possibility of early repayment. Many contracts allow you to reduce the outstanding balance with additional payments, lowering the total cost.
Use this strategy if your income allows, especially during bonus periods or extra income, such as the 13th salary.
Consortium: Flexibility for Those in No Hurry
A consortium is a viable option for those who can wait to purchase a property. Interest-free, but with administrative fees, it offers the possibility of planning without straining your monthly income.
However, contemplation can take time and require patience.
Furthermore, the consortium can be a form of investment. After being selected, you can choose to purchase a property with a higher appreciation or even resell the letter of credit for a higher value, increasing your financial return.
+ Consortium or financing: which is more worthwhile?
Cash Payment: Advantages and Challenges
Paying in cash is the best option for those looking for discounts and don't want to pay interest or fees.
Plan ahead using low-risk financial investments, such as Treasury Direct or fixed-income funds, to accumulate the necessary amount.
In addition to the immediate discount, paying in cash offers greater bargaining power.
According to experts, negotiations can guarantee discounts of up to 15%, especially during periods of low demand or specific promotions.
Strategies to Save Money When Buying a Car or Property
Saving money when purchasing a valuable asset is essential to ensure that the purchase doesn't compromise your future budget.
With effective strategies, it is possible to reduce costs without sacrificing quality.
Search and Compare Offers
Market research is essential. Use reliable portals, such as Fipe for cars and OLX or ZAP Imóveis for properties, to compare prices and conditions.
These platforms allow you to analyze different offers and identify the best opportunities.
Another tip is to take advantage of industry fairs and events, which often offer special conditions.
Vehicle fairs, for example, may offer reduced rates or down payment bonuses, while real estate fairs may eliminate costs such as ITBI (Tax on Property Transfer) or deed fees.
Evaluate Additional Costs
Before closing the deal, consider the additional costs that will come with the purchase. In the case of real estate, these costs include registration fees, deed fees, and taxes such as ITBI.
For cars, costs such as insurance, IPVA (vehicle property tax) and periodic inspections can represent a significant portion of the budget.
Planning for these expenses helps avoid surprises and keeps your finances balanced. For example, when purchasing a property for R$500,000, documentation costs can exceed R$20,000, which should be factored into your planning.
Control Expenses After Purchase
Purchasing your desired asset isn't the end; it's just the beginning. Maintenance and recurring costs associated with a car or property can significantly impact your budget if not properly planned.
Reduce Maintenance Costs
Keeping your car or property in good condition helps avoid unexpected expenses. For cars, follow the scheduled maintenance schedule and choose reputable repair shops.
In the case of real estate, hire professionals to carry out periodic inspections, especially of electrical and plumbing systems.
Additionally, invest in items that reduce costs in the long run. For example, fuel-efficient cars or properties with solar energy systems can generate substantial savings.
Create a Reserve Fund
Maintaining a reserve fund for emergencies related to the acquired property is essential.
This prevents you from having to resort to credit at critical times, reducing long-term financial impacts.
A fund equivalent to six months of expenses related to the property is a good practice recommended by experts.
How to Create a Reserve Fund for Major Acquisitions
Creating a reserve fund is a crucial strategy for anyone looking to buy a car or property without compromising their budget.
This practice protects against unforeseen events and helps ensure that the purchase is financially secure.
Setting Priorities
Before you start saving, clearly define your goals. Determine the total value of the item you want to purchase and the timeframe for purchase.
This will make it possible to establish a monthly amount to invest in the fund.
Choosing Suitable Investments
Opt for low-risk investments for this fund, such as CDBs with daily liquidity or Selic Treasury.
These options guarantee a return above savings, with the necessary security for withdrawals in case of emergency.
Conclusion: Realizing Your Dream Consciously
Buying a car or property without compromising your budget It is possible with planning, research and discipline.
By following the strategies outlined in this guide, you can ensure that purchasing a home is a positive step in your financial life.
Remember to prioritize the sustainability of your finances, always considering the long-term impact of each decision.
With the right tools and a keen eye for opportunities, your dream can come true without sacrificing financial stability.
