First time home buyers are often trapped in hard decision making situations especially for most Filipino families who considers a lot of things before getting their own house and lot. Regardless of the urgency of the situation, buyers should never make a decision that would put them at risk in the future. Here is another helpful list of 4 common mistakes of the first time home buyers. I hope by reading this post, you'll avoid falling into the trap of any of these.
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1) They do not have a concrete budget plan. This is where most of us should start. Its like wondering around the grocery store, looking for the stuff you need but you don’t have any idea how much your pocket contains. It could only result into two things; either you go over or under your financial capacity. Going over budget would result to debt, which nobody wants.
2) They cannot decide on what they need exactly. This is generally a picking error. One day you decide you wanted a two storey, next morning you want a duplex. You cannot make up your mind on what type of house, in which location from which developer. You end up having to reserve different units and retracting your decisions which cost you a lot of money. Before diving into the market, make sure you have the specific list of the things you are looking for in your future house.
READ my previous post for practical tips about finding your dream house and house with suggested different properties for you to consider.
3) Not being aware of the hidden/other costs. You might probably have a budget in mind and you stick to it, but you forget about the other hidden charges you may need to pay. This results to you, needing more money than what you expect to spend. Always remember that a good budget plan includes an extra allowance for other unexpected expenses such as documentary expenses, bank fees etc.
CALL or TEXT me at 0917 739 8227 for any questions about the properties I've featured on this blog. I'll be happy to assist you in finding the right home for you.
4) They forget about the after sales renovations. This is a common mistake for many first time home buyers. Once they have been presented with the model house, they instantly fall in love with the aesthetic aspect, forgetting about the fact that they have to pay for the interior renovations. So they forget to prepare financially for this aspect.
From bare unit...
To this... Remember that most of the actual turn-over units are bare so you have to allot a budget for interior design and other things you want to add.
Searching for your future home can be both daunting and overwhelming. I have seen a lot of first time home buyers make plenty of mistakes, either for buying a house more than they could afford or for not being happy about the result. Consider the guidelines listed above. Preparation is the key to success. Always consider the future.
I'm your House Hopper Apple Allison and you can contact me at 0917 739 8227 if you need help in finding your dream house. Don't forget to read my other blog posts for affordable properties near Metro Manila.
DISCLOSURE: I am an Accredited Online Lead Generator for Driven Marketing Group.
Hi, I'm Apple Allison of Sole Searching Soul, a travel blog dedicated to Make a Difference One Trip at a Time.