By: Benedict F. Baluyut, RMT, REB, RFP
Have you dreamed of acquiring your very own home? Have you imagined, seating on your porch, sipping your morning coffee and reading your newspaper. Seeing your neighbors in the street mowing their lawns or cleaning the front yard? Or just getting ready for morning rush of going to work.
Buying your first real estate residential property requires tedious and multiprocessing tasks of properly planning and making wise but crucial decisions. Buying a house doesn’t involve you as a breadwinner but involves your wife as a co-maker and a borrower and the whole family as beneficiary in securing your very own home and in the right neighborhood where you can live and flourish.
In my current experiences a real estate professional (PRC licensed real estate broker) it points to these important questions I raise for my clients before buying their prospective home?
Where is the location and accessibility of the house? – For first time buyers, real property must be located in a very accessible to main thorough fares and public transport, proximity such as schools, markets, church, business establishments, work place / office and others. The golden rule in location is that it the home should be close within range of the conveniences on your planned homestead;
Do you have a working budget – For most licensed real estate broker / real estate salesman will ask you these questions if they have a ballpark figure of the property the prospective client wants to buy. These should be disclosed in order for them to find a property with their listings and would lessen the time in searching for a right listing;
Are your finances in order? – For most first time buyer, they should be financial ready, sound and capable in putting on the down payment for their dream home. A down payment of a home may vary from the standard 20% to 30% but with most developers can offer lesser at 10% during promotions by the marketing strategists of these property developers. Usually, a real estate professional would provide explain the intricacies of the property and give you a sample computation in order to have an idea on how much a property will cost in the long run. With the increase trend of socialized housing in recent years, the “Rent-to-own” payments schemes had been paved by socialized housing developer to attract prospective clients on such properties;
Administrator - C. F. Baluyut Realty