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Are you ready to jump and make that dive into the world of homeownership?

It’s easy to set your eyes and find your reasons for when you want to buy your dream home.

After all, almost anyone would want to call a house their own. 

Eyeing that house and lot in the province? 

Go ahead and make plans on what you want to do once you get it.

But when it comes to goals, perhaps the most important thing that needs to be said is to establish your financial goals first, before anything else.

 Do you want to make sure that the home you purchase will be yours in the long run?

Here are three goals to consider before you buy your first home:

  1. Good Credit Standing

Ready to place a reservation on that condominium for sale ?

Hit pause for just a bit. 

Because this is a commitment to pay for a longer period of time.

Here’s an example:

If paying in cash and in full is not a viable option, you may want to consider taking out a home loan to facilitate your home buying process.

So how do you ensure that you get this help? 

One way to get pre-qualified or be granted better home loan amounts is to maintain good credit standing or a good credit score

What does that mean?

This basically says that you are a good candidate for the amount of money you want to loan. 

And how do they determine that?

A credit score is measured using standards set by financial institutions, two of which are that you pay your debts on time and in full (as much as possible). When banks see that you have a high credit score, they can grant you a good deal when it comes to the amount you can loan for your home purchase. 

        2. Savings

Got money in the bank?

Aside from good credit standing, it is also wise to have savings not just for emergencies but also for when you want to buy a home. You can use the money that you have set aside so you need not worry about the down payment or the furniture and appliance expenses that may put a dent in your dream home budget.

3. Stable source of Income

Of course, a stable source of income such as a job or a business is necessary so you can bring the bacon to a home that you call your own. Remember that buying property in the Philippines does not end with the down payment but continues for years to come, in regular monthly amortizations. So, it is best to have a secure source of income so you can be sure that the home you will purchase does not end up in foreclosure. 

So you have good credit standing, savings, and a stable income, do you need a fourth one?

As much as possible, augmenting your income is a good idea if you want to buy a home. Not only does it ensure that you get to make payments on time, but also lessens the financial burden and impact on your budget and monthly obligations. 

In a nutshell, you need to establish at least three financial goals, ideally,  before you buy your dream home. Start with maintaining a good credit score, followed by ensuring that you have adequate savings. Then ensure that you have a stable source of income. Finally, whenever possible, find a side hustle or extra source of income that can augment your finances so you won’t feel burdened by the monthly amortizations that arise from buying a home. 

Already decided?

Click here and let us help you turn that dream into a reality.

Book a free consultation with an Ohmyhome property agent today to get started! For more information on the best and latest property listings nationwide and how our Ohmyhome’s online ecosystem helps investors like you, visit Ohmyhome.com or download the official Ohmyhome app.


Ohmyhome was launched in the Philippines in September 2020, following the company’s establishment of a tech team in the country in 2017. Ohmyhome was originally founded in 2016, and subsequently rose in Singapore as a leading PropTech solution and licensed real estate agency.

Ohmyhome expanded into the Philippines so that Filipino home seekers can have a real estate partner that they can trust to have their best interests at heart and can be relied upon to provide exceptional services throughout the entire property journey.

Featuring thousands of properties across many of the Philippines’ major real estate brands, Ohmyhome differs from other local platforms by going the extra mile and extensively helping buyers narrow down their choices and find the property that best suits their budgets, home needs, and lifestyle preferences.

The company’s Real Estate Agents not only help in the shortlisting of options but also provide professional services through the entire purchasing process. These include assistance in property inspections, negotiations, the finalization of the Conditions of Sale, deposit collection, the submission of property documents, as well as providing buyers regular updates.

Ohmyhome helps Filipinos find their dream homes, all while making sure each real estate transaction is complete and is an efficient and enjoyable experience.

Stay connected with Ohmyhome Philippines by following our official Facebook, Instagram, and LinkedIn accounts.

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