Find out what you want and need before searching a home. Your new house will be the ultimate investment that you’ll make in your lifetime. Make a list of all the features you care most about, such as:
Cost is the prime consideration when buying. Study the sample computation and answer these questions:.
- How much is your preferred budget for monthly downpayment and amortization?
- How much amount you can afford?
Ideally, mortgage payments should be not be higher than 36% of our total monthly income. This way, you can comfortably pay your mortgage and care for other household expenses.
How do you like to pay? Do you like to pay:
- Spot cash (full amount of total contract price) to get big discount
- Spot downpayment to get discount
- Installment downpayment
What loan financing do you choose?
- Deferred payment (no interest terms)
Location is a very important consideration when buying a property. It’s an important indicator of value. Do you like Cavite, Laguna, Las Pinas or Paranaque?
Is the neighborhood safe and secure? And most important of all, is it flood free?
Is it accessible by public transportation in going to your place of:
- Shopping center
Look for ongoing or future road development near the housing project as this will shorten travel time to your place of work and will also add to resale value of your property.
Do you want:
- 2-storey townhouse
- 3-storey townhouse
- Single detached
- Single attached house.
- House with private park?
Are you looking for:
- Ready for occupancy houses? Estimated turn-over is 2 – 6 months.
- Pre-selling houses (house are to be constructed)? Estimated turn-over is 24 mos.
Space To Grow
How many bedrooms, bathrooms, car garage, and how much square meters of extra lot are you going to need? Look further into the future than just today. If you aren’t finished expanding your family and plan to someday have children, or more children, you will want your new home to be large enough to accomodate that growth.
Many housebuyers, especially first-timers, will eventually decide to sell and relocate to another home at some point. That is why it’s important to consider how well the home will hold its value over time.
If the location is gaining popularity, then surely the road network is due for improvement and the property value is expected to increase in the future.