“Some Filipinos hope to begin a new life this year by purchasing their dream home.”
The twists and turns that shook everyone’s world last two years brought an extreme realization to most Filipinos who live in rental apartments. The financial burden caused by the nationwide lockdown made us realize the additional pressure and load of paying their rent in addition to their bills and daily expenses. As a result, some Filipinos hope to begin a new life this year by purchasing their dream home.
Living in a fast-paced society increases the demand for quick solutions to problems. A short and straightforward transaction is the best viable option for a property seeker in real estate.
What is Rush Sale?
As stated by Lamudi data, the term “rush sale” was the most frequently searched on the property platform in the second half of 2022.
Rush sales may be caused by the seller’s need for cash as soon as possible or the client’s immediate need for a new home. Overseas Filipino Workers (OFW) returning to the Philippines for the holidays may have been interested in completing the transaction quickly before returning to work outside the country.
Furthermore, one of the most critical factors for property buyers is location. According to the leading property platform, the most frequently searched areas were Paranaque, Cebu, Tagaytay, Batangas, and Makati.
Moreover, if you dream of luxury living, it begins with a home that satisfies everyone’s desire for a harmonious life. Living in one of the Portofino Alabang luxury homes will make you recognize that people must value authenticity, feasibility, tradition, and longevity.
Developers and projects that address client needs, such as building transit-oriented communities in critical hotspots nationwide, can gain traction with today’s property seekers.
“Pag-IBIG house and lot” was also one of the most frequently searched terms on the property portal. The Pag-IBIG Fund’s program for minimum wage earners and their longer loan tenure results in lower monthly property payments.
Factors to Consider When Buying a Home
If you’re considering buying your first home, there are some things you should review to get your search started on the right foot. Many aspiring buyers search for their preferred home and property features when looking for a house and lot for sale. Here are a few things to figure out before making a decision.
Location
Is it close to major roads, expressways, or highways? Are there any possible jobs in your new community’s vicinity? Are shopping malls, markets, hospitals, churches, or other commercial establishments nearby?
Location is perhaps the most crucial factor to consider when buying a home. A great location will remain an asset regardless of how the real estate market changes in the future. You can make an ugly house look nice, but you can’t make a lousy location look good; however, properties in good locations will continue to be profitable investments. Finding a location close to your workplace is also preferable, as this will save you time and money on transportation.
Cost Price
The home’s purchase price will be a significant factor in determining whether or not you should buy a home. To make a decision that fits your budget and goals, consider all costs associated with making an offer and closing.
It is a significant accomplishment to afford a home without going bankrupt. The fear of being unable to afford a home is the most common reason our homebuyers hesitate to invest in one. It is also good that, nowadays, affordability is within reach with the help of a housing loan from various lending institutions; you can even research banks and Pag-IBIG online.
Subdivision Amenities
When looking for a new home, the tour or site visit should include the house and lot and the community’s amenities and facilities. Is there a space available for large gatherings? Do they have recreational facilities, particularly for your children? Can you get some fresh air by visiting the subdivision’s mini-parks?
On-site inspection of the property and subdivision amenities is now necessary for sellers and buyers. For example, if you want to live a gracious life, visit the website of Brittany Corporation, Vista Land & Landscapes’ affordable housing subsidiary. They are outfitted with their best-selling homes — a pleasurable way to select your house unit for your ideal family.
Neighborhood
Before buying that house, inspect the neighborhood and see if it meets your needs. Take a stroll through the area and look around. Ask yourself or your real estate agent: What do the other houses look like? Is the neighborhood suitable for families? Is there sufficient security for the community? Living in a safe and secure environment with a comfortable residential feel is critical.
A great neighborhood also includes nearby grocery stores, shops, churches, and restaurants, among other amenities. Most prospective home buyers prefer a convenient location for them and their families. Finally, the neighborhood will most likely be a personal preference of the buyer that you believe best suits your individual needs.
Kitchen Layout
The kitchen is the beating heart of the home. It is where great food is prepared for gathering family and friends. When guests arrive, they usually congregate in the kitchen, and because it serves as a hub of activity and entertainment, its size and layout are critical.
Determine whether you require a large gourmet kitchen with plenty of counter space, sinks, and storage space or if a standard kitchen will suffice.
Each family has its approach to cooking. Someone once said there was only a kitchen because it came with the house! In that case, any kitchen will suffice.
Number of Bedrooms
Each family will have a preference for the number of bedrooms they require. Most people will want at least two, and the number increases if there are children.
Some families prefer that their children share bedrooms, while others like that they have separate bedrooms to accommodate different bedtimes and study habits. If you have regular visitors for an extended period, having a bedroom designated as a guest room is a good idea.
An extra bedroom is frequently used as an office, den, children’s playroom, or exercise room. Many hobbies necessitate working space and storage for supplies, and an extra bedroom is ideal. Consider your lifestyle and what will make it better.
The Potential for Future Projects
Even your dream home will necessitate some personalization, as it should. Whether you’ve spent years fantasizing about a chef-style kitchen, a poolside backyard oasis, or a deluxe media room, it’s unlikely that those features will be exactly to your liking the moment you sign the papers.
Look for how much customization is required in each property you come across. Be honest about how much of that work you can handle, even if it happens gradually over time. If you prefer to hire a professional, be prepared to spend significant money. Consider large and small projects, from painting the dining room to completely gutting the house.
Don’t Feel Pressured To Buy
Purchasing a house is one of the most important decisions you will ever make, and while most people consider it an excellent financial investment, it may not be for you.
When purchasing a home, several factors must be considered, including the housing market, interest rates, and any plans you may have. When you buy a house, being flexible with your family or career may be challenging. If so, consider renting in the area first and deferring large purchases until later. Because there are several healthy rental markets across the country, many young professionals choose rentals over homebuying to save money and remain flexible.
