What to Consider Before Buying a House in Davao City

Buying a new house is an exciting and nerve-wracking milestone in a person’s life. First it definitely comes with a lot of considerations, and second, it has a long term effect on finances, environment, and generally the lifestyle of the property owner.

What to Consider Before Buying a Home

This is the reason why buying a house is a very crucial decision to make. Financially-wise, the buyer must be prepared to pay for the down payment, the mortgage, the closing expenses, as well as the home maintenance among other expenses that come with owning a home. It is a financial responsibility that should never be taken lightly, lest the consequences can be so huge it can even affect a person psychologically.

Future Plans

Forbes.com for instance reminded those who are in the market to buy a new property in Davao City to also consider their future plans prior to inking their purchase contract. “Before you agree to buy what you think might be your dream house, consider your long-term plans. Are you planning on staying at your current job? Getting married? Having kids? Depending on the market and the terms of your mortgage, you may not actually pay down any real equity for between five and seven years: if you aren’t sure that your house will be the house for you in a few years, you may want to keep looking.” The continuation of this article can be found here.

Structural Inspection

Apart from the other major considerations to factor in prior to closing a sale, it is also important that the whole structure of the home be thoroughly inspected by a professional to avoid unforeseen expenses due to repairs and the like. Home improvement website, The Family Handyman mentioned this in one of the articles they published about buying a new home.

“Tips for buying a house should always include information on inspections. A home inspection isn’t just a formality, inspections frequently uncover serious issues with a house including foundation problems, rot, pest issues, roof damage, mold, improper insulation, out-of-date wiring and much more. You need to know about these issues before you make a final decision. The good news is that a problem often leads to a new offer with the condition that the seller pays to fix the issue before you officially buy it.” Read about their other tips here.

It is also important to consult an expert before buying a home. A qualified real estate agent or a broker who is really out to push the buyer’s best interest is a good person to have on one’s side. For one, he knows the ins and outs of the market, as well as if the offer is in a fair price range. He can also negotiate on the buyer’s behalf, and more importantly help in negotiating the contract. Moreover, a Realty Davao licensed real estate agent or broker can help with all the paper works involved in the property purchase, making the whole transaction more convenient for the buyer.

 

Realty Davao
Mt. Tres Marias Dinaville Subdivision, Ma-a, Davao City, 8000 Davao del Sur
(082) 284 5494
https://realtydavao.com/

 

 

The post What to Consider Before Buying a House in Davao City appeared first on Realty Davao.

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