• Date: Feb 28, 2017

Buying a house is one of life’s most monumental milestones. No other investment gives you a more satisfying and accomplished feeling than the purchase of a home. Otherwise, it is one of the largest financial decisions of your life; but how do you know when you’re ready to buy a home? I recommend to ask yourself these four questions before choosing to buy a home.

1. Am I financially capable of buying a home? One very important question you should ask yourself is not only whether your finances could handle the purchase of a new home. Instead, you should also ask yourself whether or not you would able to sustain a suitable life after you have bought the home. You may have saved up enough money to pay the initial annual fee, but would otherwise be struggling to pay your other utility and household bills.

2. How much money do I spend and need to earn each month? To have an awareness of whether you can afford a new home and its corresponding mortgage payment, itemize what you are already spending for each month such as bills, groceries, loans, and entertainment. This will give you a realistic comprehension of how much money you have available for both the purchase and monthly expenses of owning a home.

3. Am I sticking around for a while? The old rule of thumb was that buying made sense if you planned to stay put for at least three to five years. These days, many financial planners are recommending an even longer window. If you are looking to secure a residence, then it is best if you would be staying for quite a while (within five years or more). The cost alone should be enough to convince you that buying a home is a good investment only if you are staying for the long run. Don’t jump on the “I need to buy a house because everyone else is” bandwagon.

4. Where should I ideally live? Everyone has standards on where they should ideally live. Young professionals and entrepreneurs may want to have their homes near their offices and other important areas. But whatever house you are looking to purchase, it is universally understood that where it is located should have the characteristics of a good neighborhood. So make sure you have all the ideal qualities checked off your list before you decide on buying.

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Location: Panapaan III, Bacoor, Cavite, 4102
Main Office: #54 2nd Floor Kelly Bldg. Aguinaldo Hi-way, Talaba, Bacoor, Cavite
Landline: (046) 417 0371
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Email: info@evyvictoriaville.com