Buying a property off-plan has costs throughout the construction

Everything that involves the decision to buy a property off the ground floor is new for someone closing a deal for the first time. These questions take on an even greater dimension for those who are fulfilling their dream of owning a home. It is advisable to pay attention to the costs of the process until the delivery of the keys. Builders know that this trajectory is marked by the anxiety of buyers and they organize the stages so that everything goes smoothly.

After opting for the purchase of a unit through the Minha Casa, Minha Vida program, the customer must undergo a credit analysis at the construction company and at Caixa, in order to contract the financing. In the popular segment, the bank usually finances 80% of the unit, leaving 20% ​​down payment, which must be paid as soon as the deal is closed with the construction company.

Throughout the development’s construction, Caixa charges a monthly so-called “work progress fee” until the keys are handed over. It is the financing interest charged as the works progress. These values ​​are not amortized from the final price of the property.

Only when the resident receives the keys does he start paying the financing installments to Caixa. Along with the rate of progress of the work, the bank also charges credit life insurance, which serves to protect the payment of the value of the property in case of death, accident or job loss of the buyer.

During works, builders offer benefits to give customers financial breath and ensure that they can honor payments. The most common is installment payment.

Riviera, for example, divides the value up to 60 times, depending on the applicant’s income. According to the Sales supervisor, Vitor Sales, regardless of the number of times the down payment is paid in installments, the construction company does not adjust the values ​​according to the National Construction Cost Index (INCC) for non-paying customers.

— We understand that this makes life easier for those who are fulfilling the dream of owning their own home for the first time — evaluates Sales. The construction company is building a planned neighborhood in Duque de Caxias, the Central Park Riviera, which already has the first condominium of 480 units ready. Most customers manage to negotiate a down payment of R$ 35,000 with the construction company, others choose to pay the amount in up to 17 installments and there are those who prefer to divide it into 30 installments. To be entitled to pay in 60 installments, the customer undergoes a careful analysis by the company, as they will continue to pay the entry fee even after the keys are handed over.

— These are cases in which the customer will need to accumulate the payment of the down payment and the installments of the Caixa financing — highlights Sales. MP Construtora also opens up the possibility of extended payment in installments, which, in specific cases, can exceed 36 installments. The idea, according to Eliane Vargas, Corporate Relationship coordinator, is to negotiate a portion that fits in the customers’ pockets.

— We want to help the buyer to conquer their own house, but also to honor the payments that come ahead — comments Eliane.

Jeronimo da Veiga includes documentation expenses in the final price of the unit, which allows the customer to pay this cost in instalments together with the down payment. On average, ITBI and RGI expenses are around 3% of the property value. The builder helps the buyer in all the procedures involved in the purchase of the apartment.

— The real estate process is difficult for those who don’t know it, and nobody takes a course on how to buy property. We have identified, after years of experience, that it is faster to act together in processes with notaries and Caixa – says Commercial Director, Maurício Corrêa.

The amount is allocated to the broker’s commission and relieves the buyer financially

Rio8 Incorporações chose not to require the client to pay a down payment when purchasing the property. This amount is deducted from the down payment and is often used to pay the broker’s commission for the sale. The company’s CEO, Mariliza Fontes Pereira, says that this decision was taken to help people who find it difficult to disburse a high amount right at the beginning of the purchase.

— The construction company pays the broker’s commission and includes documentation expenses in the final value of the unit. We had to organize ourselves to have this cash exposure right at the beginning of the buying and selling process – explains Mariliza.

The executive observes that credit approval for financing from Caixa has been a point of difficulty for those who want to buy their own home within the Minha Casa, Minha Vida program. The economic situation in the country, adds Mariliza, had a strong impact on the income of the low-income public.

— In 2019, we conducted a survey to verify the income of the population of Piabetá, where we launched Recanto das Águas. At the time, the survey showed that 60% of people had formal income in the region. Today we repeated the survey in the same location, and the result showed that only 25% maintained those conditions.