Ready to Buy Your First Condo in the Philippines

Planning to buy a condo? Purchasing a condo in the Philippines is one of the greatest financial achievements a Filipino could have in his life. This is the reason why you as a buyer should really determine whether you are ready to buy your first condominium in the Philippines. Buyers’ readiness is the driving force to pursue their goal in buying their property and being financially ready gives you no hindrance on your dream property. Let us try to discuss some of the qualities a property buyer should posses.

1. Realistic. A serious home buyer search about the real estate market and give objective analysis. Being realistic means knowing the current condition of the market and responding to its changes. Properties may be expensive for the moment but market conditions change. Probably two to three years from now prices may decrease and then you decide whether you will buy a property. Of course knowing the market condition also gives you an idea of the affordable properties available which can also be considered as a prospect real estate property for you.

2. Saver. When it comes to buying a property, it is always important to know your financial capacity. A unique trait that a home buyer should also posses is being a saver. Check you funds. Do you have enough savings which can support your expenses to home buying? Keep in mind that if you do not have enough savings, purchasing a property might not be a good idea for the moment. So start saving now and buy your own property in the future.

3. Confident. A buyer that has a stable employment record for at least 2 years is very confident that they can have the property they want to have as well as the loan that they will help them in buying their property. A home buyer is also confident that they are going to be qualified on the mortgage loan they are applying that they will not even feel any doubt on their capability which can be justify through their employment history and savings that they will provide for the lending company.

4. Considerate. A home buyer considers every aspect of their life before they decide what property to buy. One of the things they need to consider is their work; if it requires of changing location every time, the accessibility of the property they will buy to their workplace and what type of property would be appropriate to the earning that they are receiving. Another consideration that a home buyer should have is the safety of their neighborhood in which they need to make sure that they will not be in danger on the place where they will transfer.

5. Open-minded. Being open minded means you need accept that buying a condo in the Philippines isn’t that easy. You need to have somebody who can help you find the property you dream to own. With this hiring a real estate agent might be your best choice. You have to be careful though and make sure the real estate agent you hire is an expert, has his license and of course has closed a lot of deals.

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About Jona Miranda Jone

Jona Jone is a Mortgage originator in Philadelphia, Pennsylvania. Now an accomplished author, Jone is sharing his real estate expertise by freelance writing to, a real estate developer engaged in condos for sale. View all posts by Jona Miranda Jone

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