The Girl Behind the Pen

There are many achievements that a person can attain in life may it be big or small wins. Buying a house and lot is one. While it's exciting to dream and realize you're closer to reaching it, home buying process is not always a walk in the park. 

Truth is, purchasing your dream home is more than just browsing house models, making payments, and signing contracts. There are a lot to consider before getting a house and if you're a first-time buyer, you must be extra careful and well-researched to avoid roadblocks along the process. To make it easier for you, I've rounded up the five most important things to consider before you buy your first home:

1. Your long-term plans 

Before you decide to buy what you think could be your dream house, think about your long-term plans. Are you planning on getting married? Having kids? Staying at your current job? Or resigning from your work months from now? These factors will help you decide which type of house you must purchase. Even if you have the means, don't get too carried away without thinking this through. After all, buying a house and lot will be one of your biggest life commitments you'll have to make. 

Read also: It's never too late to invest in your dream house

2. Location

One of the most crucial aspects of getting your first (or even nth) house and lot in the Philippines is considering the location of the property. If you're single and currently living far from your office, you might want to consider buying a home near your workplace. Having home security is also helpful if you're living alone. If you have kids or planning to have one in the future, consider the property's vicinity to schools and universities. These days, more and more real estate developers are building subdivisions in the Philippines near schools, hospitals, markets, malls, etc. so that it will be accessible for homeowners to reach their destinations.

3. Local market indicators

Here's an unfortunate reality — there are things we cannot control and the only thing we can do is go with the flow. One example is the market condition. When buying a house in the Philippines or anywhere, it is important to consider the local market condition because supply and demand dictate real estate property prices. When the demand for house and lots is high but supply is low, you'll have to compete with lots of buyers and prices often go up. But when it's the other way around, it is the sellers who will compete and sometimes offer lower prices. And when the state of the market is worst, buying a property could not even be a practical option.

4. Budget

The most crucial factor you would have to consider when buying a home is your budget. Buy the house that you can afford, not just now, but also in the future. So that, when the economy goes down, or another pandemic hit, you could still pay your monthly mortgage even with less income in pocket.

5. Developer & Realtor

A house and lot is a long-term (or even lifetime) investment so it's important to work with trusted realtors and developers. There are so many real estate developers in the market now, and your job is to identify which one of them offers value-for-money homes. Whether you're looking for a Winston Salem realtor or agents from across the world, it's important that you do your due diligence.

Lumina Homes is one of the most popular and trusted real estate companies in the Philippines because of its topnotch services and affordable properties. This is perfect whether you're buying a home for yourself or for your family. 

Not only do they offer quality affordable house and lots in the Philippines but they also take into consideration the communities of the homeowners. To carry out this commitment, Lumina Homes launched eSpacio, a space where the community can connect and bond together over a cup of coffee, or just a simple walk in the area. eSpacio features several stores for homeowners' needs such as drugstores, water stations, restaurants, coffee shops, and more. 

Lumina Homes Affordable House and Lots

• Anna Rowhouse (24 sqm house on 36 sqm lot with provision for 1 bedroom)
• Angelique Townhouse (35 sqm house on 36 sqm lot with provision for 2 bedrooms and carport)
• Angeli Duplex (42 sqm house on 54 sqm lot with provision for 3 bedrooms and carport)
• Athena Single Firewall (53 sqm house on 63 sqm lot, with provision for 3 bedrooms, family area, and carport)

Lumina Homes is available in more than 50 locations across the Philippines. Check them out on Facebook and their website lumina.com.ph