6 things to consider before buying a house in the Philippines

Feb 28, 2020

Photo c/o Griffin Residential

“Home is where the heart is.”

This old saying always resonates the feeling of being comfortable from the serenity of your own home because houses are often identified as an extension of a person’s psyche. With that, it has always been set that buying a house is one of the main goals of working people. Imagine earning and saving enough for the house that you are dreaming of. There’s no better place to settle than in your own hard-earned house. But before you start investing in purchasing your dream house, these are some tips to consider so you’ll get the best out of your money.

  1. Define your dream house

Identify what kind of house you want and need. You can do so my checking pegs on pinterest, or other websites that feature houses. You can prioritize in finding a house that will fit your standards when it comes to aesthetics without compromising its functions. This should also help you identify whether you want a pre-made townhouse, a re-sell house, or a house that you want to build from scratch. When you already know what you want you can proceed to checking the market.

  1. Check the market

Start looking by asking friends or by searching online so, you can identify all the options available for you. This will also help you compare the prices thus, getting the best for your budget.

  1. Check your budget

Of course, the main thing to consider when buying a house is your financial stability. Are you willing and able to avail your new home? Are your financial resources enough for this big decision? If yes then, account everything that you will be needing to shell out so, you can gauge how much this will affect you financially. If your budget is not enough, there are a lot of financial entities that can help you purchase your dream home through their loan products. One of those financial entities is the online peer-to-peer funding platform Blend.PH. To check their offered loan products that can fund your dream home, just log on to their website.

Photo c/o of Tech and lifestyle Journal

4. Do not get pressured

When buying a house, do not get pressured when you immediately see a good deal. Sometimes, there are deals that are too good to be true or some deals are just base prices that’s why it’s relatively lower so, better be very perceptive and meticulous to avoid paying more from the price of less. If you can’t do the house hunt on your own then, better to ask for help to people whose expertise are house sales.

5. Do not hesitate to ask for professional help

If your house hunt always end in a flop, might as well consider asking for professional help. Real estate agents and licensed brokers are available anywhere in the Philippines to help you choose and decide which home fits everything to your standards like your asking price, aesthetic, location, and others. These professionals are knowledgeable to provide you with all the information that you need. This also limits your level of uncertainties unlike when buying a house on you own.

6. Inspect your chosen house with a friend

When you already picked the house that suits all your needs—including some of your wants, it’s time to check and inspect your chosen home. It is highly suggested that you allow friends and family to accompany you. Most of the time, even the model houses do not come in perfect or mint condition that’s why you must take into consideration to meticulously inspect every corners of the house—from every cupboard up unto its floorworks. With extra pairs of eyes, it will surely help you find every flaw that you are searching thus, making sure that you are going to get the home that you want in tip-top shape.

These six tips will help you get ready when you’re already planning to purchase or searching your dream home. Just keep in mind that these tips will only guide you so, you will always have to rely with your own decisions. Be sure that you are financially ready, and able to commit in this lifetime investment because buying a home will also mean preparing your secured future.