Homebuyer’s Tips: Five Habits for Every New Home Buyer

Buying a home is one of the biggest decisions you will make, and it could be overwhelming. Here are some guidelines that would help you purchase the right home for your family.

Be prepared. Buying a home is a considerable investment, so being prepared is a must. Ask yourself these questions,“How much can I afford?” “Do I have enough savings or income to make the payments?” Analyze your cash flow and see how much you can curtail into your home purchase. Setting a budget now will narrow your search for your new home.

Know your priorities. A two bedroom house and lot, a multi-level condominium or a townhouse are just some of the options available in the market. Make a list of the features you want in your new home and arrange them according to your priorities. Do you need a third bedroom? Do you need space to park your car? What is non-negotiable for you? This helps trim down your choices.

Stick to your budget.If you are fortunate to have a sizeable amount setaside, you might want to consider a spotcash payment. Otherwise, there are many options for you to finance your purchase such as Pag-IBIG or bank financing.
Ask for a sample computation and see if this will fit your budget.

Ask for advice. Once you have an idea of the kind of home you are looking for, seek the advice of a licensed real estate broker. They can point you in the direction of available properties that fit your wants and needs as well as steer you through the paperwork and buying process. Because they are licensed professionals, you can be confident that they received the proper training to make sure your transaction flows smoothly.

Be open to compromise. Once you have seen what is available in the market, consider your options. If location is the most important factor for you but the house you want is beyond your budget, consider getting a different unit or model in the same community. Inner lots, for example, tend to be cheaper than corner or end lots. If your budget is only for a smaller home, find a home that can easily be expanded to suit your growing family’s needs as this will make your renovation hassle-free in the future.