How to Buy Your First Home?

All of our firsts are special, especially when it’s your first home. The excitement you feel while receiving the door keys can melt you down to your knees. It’s like falling in love with the idea of finally getting the home you once dreamed of.

Of course, you wouldn’t want your dream home to become a nightmare. So before you drown in excitement, as a first-time homebuyer, consider important things before sealing the deal with your real estate agent. Here are just a few reminders for you as you plan to buy your first home.

Are you financially ready?
Do you have a regular job that lets you earn the money you need? Can your monthly income cover the expenses? Or, are your savings enough to get you your dream home?

Who to trust?
You will be dealing with your developer for a long time and it’s your hard-earned money you’re investing so be sure they’re worthy of your trust.  A few mouse clicks online can help you know about the history and track record of your developer. So do it. It’s for your own protection.

What kind of home do you need?
Horizontal or vertical? How much are you willing to pay for your first home? Who’s going to live in it? Determine first what type of home you need and your budget to help yourself in choosing the best home for you.

What to look at in a property?
Once you’ve determined your preferred type of home (horizontal or vertical) and budget, the second step is to look at the following:

  • Location: Is it near your workplace? What about the crime rate?
  • Size: Does the floor area matches your spatial needs?
  • Amenities: Do the features of the community match your lifestyle?
  • Security and Safety: What are the security and safety measures implemented by the developer?

Financing Options?
There are many financing options in the Philippines that you can choose from, depending on your needs and capacity. Ask your agent about it.

  • Bank Financing
  • Social Security Service
  • PAG-IBIG

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