Buying a home is always an exciting time in everyone’s life — but finding out how to buy a house is a different matter altogether. In this article, we have put together a short but comprehensive guide to buying a house should you find yourself in the market for one. Read on and learn more about what you should consider when buying a home.
Is Buying a Home the Right Decision for Me?
One of the first things you should consider when buying a house is how ready you are for the expenses and processes it will entail. Below are some of the factors you absolutely must consider before making any permanent decisions.
Financial Capability
Finances are a big part of your decision-making process when figuring out when and how to buy a house. As such, knowing your financial capability will help you make a more informed call when the time comes. Assess your existing assets as well as the total household income you generate. Your household income should still be enough to sustain your monthly expenses while you are setting aside some money for your home. Identify what house you can afford after factoring in all your regular household expenses. All your money should not go to your mortgages alone as this can make it difficult for you to meet your payments and potentially cause you to go into unplanned debts.
Consider canvassing your new home from trusted developers. While each developer may have their own unique payment terms, you will at least have the peace of mind that your payment will be coursed through a secure system. In addition to this security, consulting with an agent from a trusted developer can give you more in-depth knowledge about the property, its cost, and the amenities you can enjoy, so you can make a sound decision in your home investment and get your money’s worth.
Timeline
Timing because your family’s needs and lifestage is a major consideration when buying a home. It will save you a lot of time and energy if you assess ahead how soon you want or need to move, and why. Are you changing workplace locations? Or perhaps your family is getting too big for your current home? How soon do you need or want to transfer? Do you have enough time to get a loan or save up for it? Do you have enough time to secure all the necessary documents? Remember to take the circumstances of each family member into account, so that your move does not cause undue problems in the school or workplace. Checkout our guide to buying a house to help you plan better as it lays out different considerations in buying a home.
Size of Household
In our home buying guide, it is our goal to be honest and provide practical advice. One thing you should know before buying a house is that there are only so many ways that you can stretch space. Even with the most practical and space-saving furniture, a home that is too small for your household members will always feel like a tight fit. Be sure to factor the size of your family from the get-go of your house-searching process and to always ask for the specifications. When shopping for a home, it is best to reach out directly to the developer for the exact information you need to know.
If you are still a growing family or foresee yourself growing your family further in the future with a partner, an expandable home is a great option for you to explore. This way, you have a bit more breathing room when it comes to the living space of your home. Minami house and lots in General Trias are a great consideration because of its bigger lot cuts that may allow you to extend your home space when you are ready. A home that truly grows with you.
Location & Accessibility
One of the most important things you should consider when buying a house is its proximity to the rest of your needs. Remember that your home should be more than just a place to sleep. However, this fate is inevitable if you will be stuck in traffic for most of the day. While cities in Metro Manila like Pasig, Taguig, and Makati are close to major business districts, schools, malls, and other recreation centers, the heavy traffic that you will constantly face can make living in these cities more of a disadvantage than a convenience. Consider the middle ground by opting for a residence that is just outside of the Metro and has access to the peace and quiet of provincial life.
Homes in the outskirts of the Metro like Cavite are an excellent choice because of their easy access to major expressways like CAVITEX, CALAX, and the Skyway. Get to the Metro from the comfort of Cavite with ease!
Neighborhood & Security
All of us want to live in a safe and secure environment. Having a well-managed and trustworthy neighborhood is one of the things you should prioritize when perusing the real estate market for your new home. After all, the peace of mind knowing that you can go for a run after a long day at work or that your kids can play with the neighbors out on the street is something you cannot trade the world for. Choose neighborhoods that have all of your needs, such as groceries, churches, schools, and hospitals, in close proximity. If you have children, consider an area with good schools in the vicinity to cut back on traffic and spend more time bonding with the family than on the road. Chances are some of the kids in those schools will also be your neighbors — and your child can still socialize in a safe environment!
We hope that these four factors featured in our home buying guide can be of help to your home selection process. Shopping and moving to a new home is always an exciting yet nerve-wracking chapter in our lives so it is important to start ironing out the things we should consider when buying a house early on into the process. By carefully reviewing the factors above and assessing your financial readiness, desired location, and the urgency of your situation, the question will no longer be a matter of how to buy a house but when.