I think it was last August 2012 when I wrote that we had bought our own house. Since then a lot of people from Facebook, Twitter and all sorts of hi-hello meet-up with friends have been asking about how we exactly did it.
Okay if you’ve been a constant reader of my humble blog, you would have known that I used to live in China for 13 months, I immediately moved there 4 months after we got married (May 2010) and my dear husband had already lived there for 4 straight years. Like any other young newlyweds we never thought, not a single bit of buying a property here in the Philippines because we always consider living overseas. But an unexpected twist happened November of 2011 when hubby got accepted at IBM. Although we were celebrating that we’d finally be home with our dear family and friends, no doubt there was an OMG moment back because it purely meant we are back to square one again on finding a new home, new stuffs and moving it in. By Jan 2012, without any choice we rented an apartment. It’s nice, decent, pretty for a family of two and the terrific part is, we’re just few minutes away from my parents house (can you smell free cooked food – we always do), but with all that comfort and perks there’s this burden, a resounding burden of paying up for rent in a place that you can’t own plus the fact that rent fees are not cheap in Southern Metro (Alabang). It was one of those “sayang” moments that we opted of having our own house na, so when we got the opportunity last May with no hesitation we plunged on holding our first ever nest.
So here’s the how “we” did it part:
- It all started with a choice. The great part with my husband is that we agree on almost anything and mainly in one practical thing – to stop renting (soon) and pay something we can feasibly own. It would be hard coming up a decision if neither of us would want the same thing, so as a couple try to talk out situations like this and find a decision that will work best on both of you, remember with a decision comes direction.
- Be financially-smart. Purchasing a property would be as easy as dispensing money from an ATM machine because of the wide range market of land developers sprawling all over the country. You can easily get swayed with all the glitz and glam of the marketing flyers without noticing how much it costs in real life. But if both of you would not want to get broke in a years span, apply my money-living principle of “only buy something you can afford”. Be realistic.
- A property should be a true investment not a pit hole of liability. One of our main criteria in finding a home is location. It should be in an area which is accessible to almost anything, of course with good neighborhood or has that what I try to call a natural progression thing – what will a property look 5-10 years from now. From there you can foresee if its value is upscale. So before settling to buy, always ask yourself if you can sell it higher compare to the amount you paid for.
- Practice on regular savings and if you are dead serious about buying a property you need to budget everything out. Restrain yourself from impulsive buying, panic buying and the dubious joy of swiping credit cards.
- Lastly, surround yourself with positive people. Tested and true, the process of buying a property is never easy unless if you are born rich, and most of the time you’d hear comments that just drains all the energy in you. Believe me. But here’s the catch, if you surround yourself with people with a positive mindset (these are people that already undergo the same situation) they are always ready to cheer you on and give helpful tips.