You Need to Know This Before Buying Your New Home

This new normal where everyone has started to adapt has had people looking in to finding better ways to live, given that we spend more time at home than ever. A lot of families had either done major renovations, beautify their interiors, made their workspace more aesthetic and for the kids completely renovated their rooms so that they do not feel the burden of staying home.  

In The Philippines, despite the real estate market being hit in 2020, we are now seeing it slowly being revived as the Philippines Central Bank expects that it will recover with a 7.8 percent growth this year. 

Photo by Kindel Media from Pexels

You may have considered purchasing a new home, as working from home may have had you putting away money or you a looking for a more livable space to cope with quarantine especially for your children.  But, don’t just go jumping into the real estate market - these decisions need to be guided and you need to make sure that it will be the best decision for you and your financial capacity.  


Sometimes, the decision is not only to move – but, if to rent or buy a home at this time with the budget more of a factor, especially if you plan to pay on a monthly basis. How do you know that you are making the right decision and if you can really afford that big plan of finally buying that dream home you have always wanted? 


Plan ahead and compute for your monthly expenses and budget – there are so many mortgage calculators online that can help you with this.  Once that budget has been figured out and you have decided to go with purchasing your new how – it's always best to keep track of all your payments and schedules – not only do you get to anticipate your monthly budget but also avoid any penalty fees.  


The best way to finally decide is to plan in advance for this big decision. What else are the things that we can consider when buying a new home? I would love to hear your thoughts.  



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