Every homeowner has a bucket list prior to purchasing a new home. Before moving to the homemaking stage, consider the most important things first. Here is a list of priorities that each prospecting homeowner should understand.
The location of your home is the most crucial as it is the only permanent factor. Find out the commute time and cost of going home from work or school. Find out how far are the essential areas like hospitals, markets, schools, and places of recreation such as malls and parks. “Be near civilization”, as the joke says, when choosing your home. For instance, if you wish to be near business districts and commercial areas, perhaps getting a condominium is something you should consider. If you want to be away from the bustling crowd and want to have greener spaces, acquire a property in towns outside Metro Manila with great land value.
The price – whether a monthly mortgage or a loan – should be feasible for you to work within your means. A house and lot may seem cheaper in the provinces than a condominium in the city, but the opportunity cost could be as equally high.
Size and style
Assess the needs of you and your family whether you would be needing a spacious house and lot or a more moderately sized apartment. Take into account the changing needs of your growing household and what the long-term needs are for the family. If maintaining the exterior of your home is the least of your priority then a condominium or townhouse is not a bad option. While upgrading your home down the line is still possible, getting a home that takes into account the changing needs of your family can save you some money in the long run.
As for styles, the design of homes can vary if they are residing in a sloped land area—giving homeowners the opportunity to create basement spaces or different terrain for their garden. The style could also change depending on the climate of the area, with different architectural styles, wall materials, and roof designs suiting certain climates more.
Cost of living and expenses
Closely related to location, this plays a part in how much you are likely to pay as a homeowner whether it is through property taxes, homeowners fees, utility bills, and maintenance costs. Bigger houses tend to high higher property taxes than houses with a smaller size, but houses, in general, do not come with the associated fees usually associated with condominium or apartment living.
Buying your next home
Prospecting homeowners can consult with us. Santos Knight Frank is a real estate agency with a great track record of serving clients with services such as occupier services & commercial agency, investment & capital markets, residential & sales leasing, property marketing, research & consultancy, valuation & appraisal, project management, asset management, property management, facilities management, technical services & engineering solutions. Learn more about Santos Knight Frank through the website https://santosknightfrank.com/.
If you want to know more about real estate investment tips, you can also read about Condo vs. house: Which is the better buy for my family.