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What to consider when buying a house.

November 18, 2016

Buying a house is one of life's biggest decision, it's what every working Filipino dreams. 

Your house is an asset, according to conventional wisdom and it's just right that you carefully consider everything before signing the dotted line.

Here at HotProperty.ph, we've compiled a a list of the factors you should consider when buying your home.

1) Location and easy access

Location plays an important part in the home values, not just here in the Philippines but elsewhere worldwide. When choosing a house, make sure it has easy access, meaning routes to major highways and roads and public transport systems. Convenience is another key ingredient of a good location. A house near commercial establishments like shopping malls, groceries, restaurants, schools and hospitals easily spells out convenience.

2) What features do I really need?

Do you really need 4 bedrooms? How about a third bathroom? How about baby-proofing? How does that work? These are just some of the many questions you need to ask yourself when buying a house. Determine what you really need since extra features would likely end up into a more expensive house.

It is important to note that each member of your family should have a say in the homebuying process, especially the features of your soon-to-be-house. If your kids are still in school, make sure that the house is conveniently located  both for private driving or commuting. 

3) Commission a full-fledged inspection

This is especially imperative when buying a house that isn't brand new or isn't built by a well known developer. A full-fledged inspection can be expensive but not having it might cost you more once you buy a house that has hidden structural defects. You will likely need an appraiser, an engineer or a licensed professional to fully inspect the house you're considering to purchase. 

4) Always use your head, not your heart

A common mistake homebuyers (especially first time homebuyers) commit is that they instantly fall in love with the first house they view. If you're already in love with a house, you will be short-sighted (and blinded) by the slight defects it has or a much higher asking price. That's a big NO when buying a house in the Philippines. Learn to walk away from a bad deal, even if you've already fallen in love with the house.

5) Partner with a good, honest agent

Having a trusted ally by your side is extremely important in homebuying. A good and honest real estate agent is like the air we breathe, you feel as if it doesn't do anything but once it's gone, you'll be in big trouble.

At HotProperty.ph, we feature a lineup of trustworthy real estate agents -- all properly licensed and certified either as a real estate broker or a sales agent. HotProperty.ph and its member agents are here to help you every step of the way.

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