The Happiness of Buying A House in the Philippines
The happiness of buying a house or residential property in the Philippines can be quite a rush, especially if this is the first time.
Curb your enthusiasm and avoid the following pitfalls in buying your first house in the Philippines. Be aware that anyone can be so moved by excitement that can mess up the negotiation, or forgo the necessary house inspection, or neglect important clauses and items on a contract.
Also, these are good reasons to choose and work with real-estate professionals in the Philippines. When you have a team to help you, the process should be more effective, less stressful and potentially more pleasant.
Even with a committed team, it may not be enough when you still to do the following that can potentially make your first time buying a home a nightmare.
- Buy outside of your finances: A common mistake for first-ime homebuyers make is dreaming to live outside of their financial means. This can be a big heartache and source of regret.
The happiness of buying your first home cannot be achieved when you make mistakes with the budget. It is better to make a home purchase that is completely manageable from the beginning. Then, when unforeseen circumstances come your way,these will not affect your obligations to mortgage.
- Being overly eager or excited. Manage your emotions, but when you speak with your real estate broker be honest with your feelings and concerns. Don’t wait for the last minute. It is their job to find you the right home that you will love to live in and provides your needs.
Don’t reveal to sellers your genuine interest in the property because once they know you want the property, it could make them hold on the price instead of being flexible or be willing to negotiate.
- Fail to consider the property resale value: People who buy a home for the first-time often think they live in for a lifetime, but the truth is that homeowners live in their first two homes for seven to ten years. Circumstances change, so it’s best to always to consider the resale value when you buy a home. By all means, enjoy your first home while you’re living there. When it comes time to put that same house on the market, be prepared to give your house a renovation to make it appealing for other buyers.
When you’re buying your first home in the Philippines, contact Land Asia Realty Development Corp. to help your search and purchase so that you can keep the memory of your first home-buy a happy one!