Buying a home is one of the most important decisions you will ever make—but it’s also one of the most complex.
Because buying a home is such a big step, you should be sure to gather all of the information you can and take your time before making a decision. In fact, buying a home is something that requires research and advice from experts, not just from friends and family who may not have all of the facts right at their fingertips.
It is best to consult an expert before finalizing anything related to buying a home so that they can help you make an informed decision based on their experience in this field.
This article will provide you with an overview of the steps you should take as you begin your home-buying journey, especially if this is your first time as a homeowner.
5 Useful Tips that can affect your homebuying journey
1. Establish a criteria that must be met by your ideal house model
It might be simple yet if not done properly, your dream home may not serve its purpose. Being on the top spot, this is the most important aspect to highlight on every guide in buying a house in the Philippines.
For example, you should know the number of rooms you wish to have in your home, the interior design you prefer, or any purpose that your home should satisfy. After listing your preferences, you can now have a clear estimate of the needed budget for your house. From that, you can make adjustments or decide on the steps to take in making your dream house achievable and practical at the same time.
Read more: Is Townhouse a Good Investment as Your Next Home?
2. Do your research first before deciding to buy a house.
Aside from setting a criteria that must be met by your future home, you should research the location of the property you are eyeing. If you are working, you might consider accessibility in business districts. If you are looking for a retirement house, you would want to purchase a property situated in provinces.
Nonetheless, for specific needs like these, the location plays a huge role in providing convenience in terms of accessibility. Having access to different transportation schemes is helpful when you are an employee as it gives you comfort in your daily commute especially since the Philippines is known to have horrendous traffic. If you are a retiree, you would want to have access to essential community establishments like hospitals, groceries, malls, and other places for leisure.
But of course, you have to remember that the higher accessibility a property offers, the more expensive it gets.
3. Plan your finances and know the additional annual fees to pay.
Since buying a home needs a huge amount of money, there are different financing methods to avail like Pag-IBIG housing loan or applying for a bank loan. Nevertheless, you have to plan your finances and be knowledgeable of your cash flows.
If you will be purchasing a house through financing, you need to pay in installments. Even if you do not have a huge amount of money, you can still buy a house if your monthly earnings permit. You just need to budget very well so your installment purchase would not be put into waste because if you will default in payment, the mortgage contract with your creditor will take effect.
Additionally, aside from the monthly settlement of your financial obligation, you need to take into account additional fees to pay when you own a property especially the annual real property tax. If you plan to purchase in a subdivision or from a real estate developer, more often than not, there will be monthly dues to pay for the maintenance of your community amenities. Thus, purchasing and owning a home does not end with the settlement of your loan obligation. Expect that there will be additional expenses spent if you decide to own a property.
4. Look for a real estate developer with a good reputation.
If you plan to purchase a newly constructed property, it is best that you go with the best and reputable real estate developers in our country.
Bria Homes for example, offer affordable house and lots with different models to cater to the preferences of every Filipino. From small to big homes, we are sure that we can cater to your preference and give you the best experience without breaking the bank as provide townhouse models which can be considered as bang for the buck.
To learn more about our offers, you can contact us through our Facebook page or reserve a slot for a virtual tour of our housing models.
Read more: BRIA Homes Launches Its xE Series of Enhanced House Models
5. Look for a credible real estate agent or a licensed real estate broker.
If you do not have enough time to do your own research yet you have an extra amount in your funds, you may opt to hire a real estate professional. Hiring such will not only safeguard your money but will also help you find the best property to purchase according to your needs.
These real estate professionals are also knowledgeable about the market price of properties. With this, you will be able to extract the best value for every peso you are willing to spend on your residential house. Additionally, if you plan to purchase a pre-owned property, these professionals can guide you with the legalities to settle as well. For better guidance, you may also hire a lawyer who’s an expert with property sale and transfer to give you more confidence that your purchase is lawful and legit.
The Best Takeaway in Every Guide to Buying a House in the Philippines
On the internet, there are various guides for buying a house in the Philippines. But do you know the best takeaway you could have from any guide you read? Actually, as you read this article you are doing the most important aspect of buying a house. It is doing a lot of planning. If you want to have the best value property, you need to plan very well. This process includes researching on the dos and don’ts or just simply reading a lot of guides. From this, you select the useful information for you especially when you are trying to determine the different purposes that must be satisfied by your home. Aside from researching, you need to hire professionals in order to make your purchase worthwhile and in accordance with your preference. Purchasing a house is a tedious task but it is rewarding especially if everything and everyone who lives on it is satisfied. Remember, a home should provide the best comfort and convenience that you cannot find on other places.
Written by Steven Hernandez
