Indonesian Guide to Home Buying Fees and Charges

INDONESIAN GUIDE TO HOME BUYING FEES & CHARGES And a demonstration on why you should FIGHT for every 0.01% on your HOME LÓAN INTEREST RATE MONEY YOU'D HAVE TO PAY TO OWN A HOUSE IN INDONESIA APPRAISAL FEES BANK FEES (TO RATE HOME PRICE) PROVISION EES $$ Between Rp300,000-750,000 0.5-1% from total loan/credit limit BANK FEES BANK FEES ADMINISTRATION FEES LIFE INSURANCE FEES $$$ Between Rp250,000-500,000 or 1-2% from total loan/credit limit sometime percentage from credit limit (e.g. 1%) (depend on limit and loan tenure) BANK FEES NOTARY FEES FIRE INSURANCE STAMPING FOR SPA < 1% from total loan/credit limit +/- Rp150,000 NOTARY FEES NOTARY FEES FEE FOR LOAN SALES AND PURCHASE AGREEMENT $$ Variate (< 0.1% from total loan 2.5% from down payment of the /credt limit) house NOTARY FEES TAX FEES GRANTING MORTGAGE SELLER TAX RIGHTS (APHT) $$ 1% from down payment of house 5% of total transaction fees TAX FEES BUYER'S TAX FEES FOR GETTING LAND AND BUILDING RIGHTS (BPHTB) 5% x (transaction price - object selling price tax without tax/NJOPTKP) AND OF COURSE. THERE'S... THE VALUE OF THE PROPERTY ITSELF BUT THAT'S NOT ALL The above aside, you'll be paying, quite possibly for a huge part of your remaining working life on... $. $4 HOME LOAN INTEREST $ $. To show you how a tiny % causes a HUGE difference, 10.2% 10.4% let's take a look at interest rates from TO Here's A Quick Comparison V< Rp 1.000.000.000 30 Years = 10.4% P.A. = 10.25% P.A. Monthly Payment = 10.2% P.A. Monthly Payment = Rp9,072,714 Monthly Payment = Rp8,961,013 %3D Rp8,923,866 Total Repayment Total Repayment = Rp3,225,964,666 = Rp3,266,176,945 %3D Total Repayment Rp3,212,591,591 Total Interest Paid Total Interest Paid Total Interest Paid = Rp2,225,964,666 = Rp2,266,176,945 = Rp2,212,591,591 DIFFERENCE = RP13,373,075 DIFFERENCE= RP40,212,279 RP 53,585,354 FOR A 0.2% DIFFERENCĒ!!! CONCLUSION YOU CANNOT DO MUCH ABOUT THE LEGAL FEES AND CHARGES OR THE PROPERTY VALUE. BUT YOU CAN SAVE TONS BY: • FIGHTING FOR EVERY 0.01% ON YOUR HOME LOAN INTEREST. • BE AN INTELLIGENT HOME BUYER. ALWAYS MAKE SURE YOU'VE MADE COMPARISON ON HOME LOAN INTEREST RATES WITH SEVERAL BANKS BEFORE YOU COMMIT. HAPPY HOME BUYING! This infographic is brought to you by iMoney.mY a price comparison website dedicated to helping Malaysians make the best use of your money. We can be contacted at [email protected] * ** INFOGRAPHIC DESIGN BY spurpress %24