30/10/2020
If in doubt, DONT BUY! ๐ โผ๏ธโผ๏ธโผ๏ธ
Owning your first real estate property or specifically house and lot is a dream come true to most of us.โ
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However, since its a lifelong investment and involves our hard earned money, there are things to consider for first time buyers.
5 Tips
1. Capacity to pay - Evaluate mo kung kaya mo talaga mabayaran yung property. Yes or No? Kung may savings ka na kaya icover ang downpayment and at least 3 to 6 mos monthly amortization, then you're good to go. May stable source of income ka ba? Tataas ba income mo after a few years? Kung malaki nga income pero may existing loan, kaya pa ba ng net pay mo? ๐ค
โ Wag magpadala sa malaking discounts and promos kung hindi ka nman sure na kaya mo bumili.
2. Willingness to afford the property. - Assess mo yung risks involve and your life events na pwede magpabago sa iyong financial capacity. Sino ba ang titira sa unit? For rent lang ba? Willing kba ituloy ito after 5,10,20 years? Baka gusto mo lang ito s ngayon, pero bukas hindi na.
3. List down your non negotiables- Based on your needs ano ba mga features na kailangan mo sa unit or kahit sa location ng property. Pag may listahan ka na mas madali na para sayo na maghanap ng property. Minsan kasi mahirap makahanap ng developer na nsa knya na lahat ng features na hinahanap mo. Learn to compromise and consider trade offs.
4. Do your own property investigation. Ito yung sinasabi nila na "due diligence" Wag basta magpadala sa mga nakikita sa brochures at kung ano anong marketing materials sa social media. Check for the quality of the unit and reputation of the developer.
5. Seek professional help. - consult an accredited salesperson to guide you all the way from site trippings, bank applications, requirements and a lot more. This will save you time and eliminate risks.
Again, this is your first real estate property na pwedeng magbigay sayo ng lifelong security and source of income as well.โค๏ธ
Happy house hunting! ๐