Buying our own house is really the best achievement we could ever had in our lives. But there are things that we need to avoid when we are planning to buy our dream house for we will never have any problem while on the process of buying our future property. The things that you should avoid when buying are mostly mistakes done by first time buyers that is why in this article you will be aware on the things that should not be done.
1. Purchasing other major stuffs. If you are planning to purchase your own house and lot it is advised that you avoid purchasing any other major purchases like car to avoid problem. Be sure that you will not have another major purchase unless you are done in your mortgage. You will have a big problem in paying every purchase you will have especially if you need to pay them from the same date. Purchasing of other major stuffs before and after purchasing your dream home is not advisable.
2. Signing without thorough understanding. There are times that we are just signing documents that we don’t do some review on it or even without reading it. There are a lot of cases that people are surprised on the results made without reading the documents they’ve signed. You will definitely have a big problem as you sign without reading or even without thorough understanding the documents. You need to be aware on all the total fees that you are going to pay which are mostly included on the documents that need your signature. Better understanding is a must in every document that you are going to sign to avoid such problems.
3. Major repairs. It is always advisable that whenever a person wants to buy a property thorough inspection is needed before purchasing that way you can avoid major repairs. Every single detail and part of the house should be inspected before turning over happened. You will avoid such problem and major expenses if there is inspection done in the place. Once the place is not yet turned over to the owner everything that needs to be repaired in the place will be in the cost of the management and not to the owner that is why it is really advised that you will inspect the place first before you move in.
4. Job changes. It is not advised that you are going to change your job while in the process of buying a property. There are times that employment history is needed as one of the requirements of buying house and lot and other properties, most of the time they are after for a long-term employment working histories. You need to avoid changing your job especially if it will badly affect your financial situation so that you will not experience any terrible situation.
Problems will be avoided once you avoid doing such mistakes like the things mentioned above. You will never have any problem whenever you are going to buy your own place to live in. You need to make sure that you are not going to do any of the following while on the process of buying the property.
Frank Rizal is from DMCI Homes who mainly sells homes in the Philippines and real estate properties. Frank is now currently part of DMCI Homes Leasing Services team who offers apartment for rent and condo for rent in the Philippines.