We all know that buying a house and lot property is not easy. There are a lot of things that you need to consider - from the location, type of property, price, processing of documents, loans, and the list goes on. It is the biggest investment and decision that you will make. So you need to make strategic and wise decision to make sure that all your physical and financial efforts will pay off.
But how will you know if you are ready to buy a property?
When is the right time to buy a home?
With many years of experience as a licensed real estate broker, I found out that right timing is very important in acquiring a property. Right timing can save you more on your acquisition and can help you find the best property that is best for you.
So how will you know if it is the YOUR right time to buy?
Here are some tips:
1. When you have saved enough
It is the right time to buy a house when you have enough savings to cover the initial payments such as the down payment and the processing fee. The down payment is usually 10% of the property. Some developers and property owners often offered a discounted price on the down payment to attract more home buyers. Whether there are discounts or promos, you should have enough money to settle these initial payments.
Furthermore, your income should cover the future monthly payment for your property without compromising your finances and lifestyle. You should understand that acquiring a home is a long-term payment. Your finances should be ready for this responsibility.
If you have saved enough for the initial payments and have reviewed your financial capacity to handle the long-term mortgage, then, now is the right time to buy a home.
2. When there’s a low interest rate on home loan
PAG-Ibig Fund has adjusted its interest rates on home loans under regular program to make it more affordable to many minimum wage earners. Last July 01, 2016 they have implemented the 5.5% per annum interest rate. They have also maximised the loanable amount to P6 Million. If you are thinking of applying for housing loan, now is the right time to do this. This is favorable time to all aspiring home buyers out there.
3. When you find the right location and property
With the many subdivisions being developed in the country, it is easy to find the right location and property that will suit your needs. Today, there are affordable house and lot properties in Angeles City, San Fernando City, Mabalacat City, Porac, Tarlac, Olongapo, Zambales, Mexico, and many more areas in Central Luzon. All these affordable rent to own for sale are near business establishments, commercial and retail centers, public and private offices, schools, churches, and hospitals. They are also near terminals and are widely accessible by public utility vehicle (PUV).
With all these options, you can easily find the right home for you. And once you are set with the location and the type of property that you want to own, it is now the best time to buy it.
The best time to buy a home is not now, but when you are ready. If your answer to all the list above is yes, then don’t wait for days, weeks, months or even years to start investing. Don’t waste any more time. Talk to a licensed and trusted real estate broker today to assist you in acquiring your home.
Want to visit your DREAM home, schedule a FREE SITE TRIPPING TODAY.
About Mitch Prin
I am a licensed real estate broker who assists homeowners to find the best home for them and for their family. I am one of the Unit Managers of Hausland Development Corporation and Fiesta Communities Inc. I can help you find the most affordable rent to own properties at the location of your choice. I also give free housing consultation and free property visit. Let’s talk at 0918-963-6760.