|
There’s nothing more fulfilling than the thought of purchasing your very first house. This is the main place where you will find an incredible sense of stability and security. This is where you will start weaving memories and joyful thoughts. It is then critical to know the steps involved in home purchase. You wouldn’t wanna own something that you will regret later on, would you? Hence, here is something to guide you as a first-time homebuyer. 1. Do a self-check. Are you really ready to take this leap? Be 100% sure because it is totally different from just renting a condo or an apartment. There are several costs to think about such as repairs and maintenance. There are taxes and insurances too. Ask yourself – are you financially capable at the moment? Are you certain you have no existing credit? 2. Create a checklist. Once you reach the decision, the next step is to form a game plan. Would you like to stay in the city where all the center of activities happen or would you rather live in the province to enjoy fresh air and a more relaxing environment? What are the must-haves and nice-to-have in your future residence – a porch, lawn, garage or swimming pool? 3. Do an initial research. You’ve selected a location and enumerated the things that you want and can’t live without. Now it’s time to make quick study on your options. Browse over the web for desirable home properties in the Philippines that meet your criteria. Take a closer look at range of prices. Is it too expensive given the current market status in the country? Which loaning companies are available to help you out during the entire course? Is it advisable to hire a real estate agent or broker? 4. Set your budget. Based on what you found out, map out your financial plans. Can you afford it? What’s your benchmark when it comes to monthly amortization? How much are you willing to pay every month? Remember that you should not rely on the purchase price alone. 5. Work on the documents you need. Prepare your proof of income and assets. Determine which avenue you would explore to raise the money you need. Would you go for PAG-IBIG or would you opt for bank financing instead? Keep in mind that it may require one to two business weeks to process a loan. Plus, you must consider which will provide mortgage with the lowest cost and the best terms. 6. Visit your selected houses. It is best to view the PH property after you have readied all the necessary docs. In this way, when you see your dream house, you can make an offer right away. Time is precious so do not waste it. 7. Begin the negotiation procedure. You’ve seen them all and you’ve picked your top choice. Get on with the offer and release your negotiating skills. Check out for tips on how to negotiate the right way so the odds will be in your favor. 8. Get your funds. When the deal is on, go back and acquire your fund so you can close the transaction. Always be mindful of the legal aspects. It’s better to be safe than be sorry in the end.
Related Articles -
properties philippines, philippines property, first time homebuyer tips, how to purchase your first home,
| 
