Am I Overpaying for a Property? An Expert Weighs In

So, you’ve decided that you want to buy a house. Great! But how can you be sure that you’re getting the best deal out of it? Overpaying for a property is something that a lot of home seekers can easily fall into. Getting a little too eager to purchase that dream home can lead you to make an ill-timed, ill-advised decision.

Ohmyhome Sales Head Cristy Ajero has been in the industry for more than 20 years now. She’s worked with top-tier real estate developers like Ayala Premiere, Century Properties, and more in the past. During her career, she admits that she’s seen her fair share of clients spending too much on properties, as well.

With that said, Cristy has a few tips of her own that she’s willing to share with prospective buyers like you. Here are some key factors you should consider before settling on a property, according to a real estate sales veteran.

Learn About the Prevailing Market Value

“The most effective way to avoid overpaying for a property you invest in is to canvas and check prevailing market value within the area,” Cristy claims.

Easier said than done, of course. This is one common mistake you don’t want to make. Don’t commit to a property until you’ve done the proper research. Compare property prices and look into local market trends. Your knowledge of the history of the property matters, as well.

Apart from this, remember to ask how long the property has been in the market and why. If possible, talk to other homeowners in the area, too.

“At Ohmyhome, as part of our service, we provide market analysis to the seller clients,” adds Cristy. “So, they are aware of the market price in their areas, be it house and lot, condominium, or commercial units.”

This means that when a buyer chooses to invest in one of Ohmyhome’s many property listings, they can be assured that they’re only getting the appropriate market value.

Inspect the Property Yourself

“It’s best to really check or make an ocular visit to see the entire property, so you can see if there are renovations needed that could add to the costs of the property,” the Ohmyhome sales head says.

Renovations can add up quickly, to say the least. Before purchasing a home, closely inspect the interior and exterior first. See if there are any structural damages, maintenance issues, and repair work that need to be resolved. You should also find out what kind of maintenance the property demands even after you purchase it.

Keep in mind that a home is an investment, as well. This makes it all the more important that you know how to take care of the property, just in case you decide to resell in the future.

Check the Papers

It sounds simple enough. But what exactly should you be looking at? Cristy chimes in.

“Is it still under bank loan? Is the property tax updated? How about the utilities, is it paid, as well?” These should be clear to you before you commit to any property. After all, you don’t want to be left with previously unknown extra fees and tedious paperwork. Make sure the property also meets standard housing regulations.

In addition, Cristy states: “It should also be clear to the buyer who pays for the certain taxes like capital gains tax, documentary stamps, and other charges.”

Most importantly, bear in mind that you don’t have to do it by yourself. A good agent who has your best interests at heart will be honest with you. They make sure that you’re well-informed about the property you’re choosing.

These tips are only a handful of the many lessons Cristy has picked up over the years. There’s certainly a lot more to the property transaction process than these things, just ask any expert sales agent. Industry knowledge and experience are something you just can’t replicate.

When it comes to house hunting, it’s best to leave it to the professionals.

Free Consultation

Are you interested in what Ohmyhome’s sales agents can do for you? Get in touch with an Ohmyhome agent today to start your property journey with a free property consultation. We offer services for buyers and renters, as well as landlords and tenants.

For more information, visit Ohmyhome.com for the best and latest homes for sale in the Philippines. Download the official Ohmyhome app today for the latest property listings and more. The app is available on Google Play and the App Store.


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 the 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.