Buying Your First Home
So you’re finally ready to get that dream house you’ve been slaving away for, for decades. Now how and where do you start? House-hunting can be stressful and overwhelming, given the thousands of properties for sale in the Philippines. If you don’t plan ahead, you’re most likely in for a headache, not to mention wasted time and money.
Here’s a rundown of the important things to keep in mind before you go out scouting for that dream home.
1. Know what you want.
Where do you want to live? Which areas are you open to scouting? What kind of house do you like? Modern? Tropical? Are you looking just for newly built properties or even old and refurbished ones? Does your house have to face the sunrise? Are you more concerned about a big garden or a big master bedroom? The key is to be very specific with what you want. List them down before checking out the ads online and in newspapers, because the moment you start looking at all those beautiful properties with your broker/agent, you might be overwhelmed by the choices.
2. Set a budget and stick to it.
One of the most common mistakes people make when scouting for their dream home is going beyond their budget. From the get-go, set a budget or a range, and stick to that. Looking at properties whose prices are higher than what you can really afford is a waste of time. Buyers who say they have an “open-budget” usually end up not buying anything for a really long time. By stating a budget, you’re not saying you don’t have money, you’re just saying you’re willing to spend this much on a property—and that is nothing wrong with that. Aim for a home you can really afford, not a place that will give you sleepless nights thinking how you’ll pay for it. A dream home doesn’t always have to be expensive.
3. Let a professional help you.
There are so many real estate brokers and agents in the country, so make sure you find the right one. Do your own research, talk to several agents, or your friends who have been assisted by brokers. Look for someone who genuinely shows interest and passion in the real estate field. These are the ones who know a lot about the market and can advise you about great buying opportunities. It is also very important to choose a professional who is sincere in helping you find your dream home. A real estate broker does not only help you in your house-hunting, they can also assist you in the entire buying process–making an offer, negotiating with the seller, getting a loan and completing paperwork. A good real estate broker’s expertise can protect you from any pitfalls you might encounter during the process.
4. Enjoy the process.
This is it! The joy you feel when you finally find and buy your own home is indescribable. But it may take time. House-hunting alone can take weeks, and the paperwork will take even longer. That’s okay. Relish this time. It’s all part of the experience. Enjoy your journey as well as your destination. Ask experts (architects, interior designs, etc). Involve your loved-ones, especially those who will be living in the house with you. Let your family and friends tag along. Their advice could be worth a million—or save you a million.
