Happy New Year! Are you going over your New Year’s resolutions and checking which ones can be done? Hopefully, buying property in the Philippines will be one of your to-do’s beginning in 2024. After all, the country is one of the hottest real estate markets worldwide, so it pays to hop on the bandwagon early so as not to miss out on great deals.
Happily, property buying doesn’t have to be the same agonizing process many experienced before the Internet became a thing. Back then, driving by a block of properties was the main (and sometimes the only way) to discover real estate properties for sale. Sales agents and developers hold all the cards when it comes to information, so to learn more requires dealing with them directly.
Modern House Hunting is Much Easier
Thanks to property tech platforms such as Ohmyhome, gathering information about properties in the Philippines is a much more enjoyable task. Even better, you don’t even have to leave the comfort of your room or your neighborhood coffee shop. You can easily look up available properties (and even units) in your desired location. Thanks to crowdsourcing, you can check out a developer’s reputation and decide if they’re worth dealing with. Once you have an idea about location, budget, and even house type, it’s time to deal with the developer or the sales agent.
However, modern house hunting isn’t just about looking around, placing your finger on your chosen property, and then calling “Save!” To better achieve your New Year’s resolution of buying property in the Philippines and enhancing your home-buying experience, here are a few tips.
1. Check Your Wallet, but Double-Check Your Heart
A cursory self-examination can help you determine your main reason for wanting to buy a house. Are you planning to finally settle down and start a family? Do you want a place near work to spare yourself serious commuting time? Or, do you find the housing market attractive enough to invest in a couple of pieces? Your objective can best shape the type, location, and budget for your dream property. So make sure you have a clear idea of what you want before everything else.
Equally important is being realistic about what you can afford. Buying property is a very serious commitment. Mortgages will run between ten to thirty years so you might as well know what you’re going to deal with for the next few years. Having monthly payments also means having a long-term steady source of income, so you might want to align your career with your investment plans before pulling the trigger.
2. Decide on the Location: it’s THE Major Consideration
When finalizing your plans, location should always be at the forefront of the conversation. If you want a place near work, expect more expensive homes especially if your office is right inside a business district. However, expensive doesn’t mean bigger. Demand for space almost always means having condominiums instead of houses and lots. For work convenience or investment, urban centers are your best bet. Resort locations with lots of tourist traffic is also a great option if you’re into income generation.
In contrast, choosing a suburban development can lead to bigger lots or opportunities to build your dream home according to your specifications. Land prices are also less expensive. Conversely, expect long commutes going to business districts and lifestyle centers. Emerging suburbs lying on the fringe of Metro Manila and other major cities are a great location for budding families who want a house and lot. If money is not a problem, exclusive villages right next to major centers such as Makati, BGC, and Ortigas will be happy to welcome you and your family.
3. Spare Yourself the Pain of House Hunting By Using Property Tech
Now that you’ve narrowed fine-tuned your property plans, it’s time to look at the available real estate offerings. Of course, you’d want to look at several options and compare them with each other. Which properties provide the best value in terms of price, amenities, and other factors? Unfortunately, going round the block and talking to various developers or real estate sales agents can be too taxing. A sales representative will understandably promote their own project and bring down their competitors’. Plus, they’ll highlight their best features and downplay missing or inferior ones.
Instead of dealing with multiple agents or visiting multiple developer websites, make housing hunting a less exasperating experience by using modern technology. Property tech platforms such as Ohmyhome maintain a comprehensive listing of the Philippines’ most desirable properties. In this case, Ohmyhome has over a thousand properties from over 200 of the Philippines’ finest developers. Each property has its own page, listing important details such as price, location, amenities, floor plans, turnover date, and price. This uniform listing allows buyers to note the highlights of each property and compare different ones at a glance.
When Buying Property in the Philippines, Ohmyhome Has the Homebuyer in Mind
The prop tech platform’s level paying field eases homebuyer pressure by presenting properties in an equal light. This allows them to make objective decisions based on published facts instead of falling for bells and whistles. For such an important decision as buying a home, detailed research is the best way to arrive at a decision.
However, proptech doesn’t stop at showcasing properties. Subscribers can call on Ohmyhome’s team of real estate professionals to assist on everything from getting the best deals, securing the best financing options, and completing the paperwork. Even better, Ohmyhome helps you unload your existing properties in order to make way for new assets. Complete your new year’s resolution quickly and painlessly with Ohmyhome. Sign up now for a free account and enhance your home buying experience.