Buying a Property

Buying a home can be a nightmare especially for the first time buyer. You will experience a roller coaster of emotions while dealing with self-serving brokers, finding the right place, securing the loan and finally moving in. For most people, the first time home purchase is the largest investment ever considered. The emotions of purchasing something so expensive and personal can often blur our business judgment.

Most home purchasers do little or no research before they make their investment. They are often at the mercy of over-eager brokers whose primary consideration is to close the sale and collect their commissions fast.

These "Buying Tips" are designed to help avoid common and crucial mistakes.

Inspect, Inspect and Inspect - Go over everything with an eagle’s eye. Detect what lies under the surface of the seller’s presentation. Make sure the report was done professionally. As applicable, go over the By-Laws and Association Fees. Don’t take anything for granted!

Imagine the Property Vacant - Your furnishings and decorations will be the ones filling this new residence. Don’t be swayed by beautiful furniture; most of the time it leaves with the owner.

Income + Lifestyle = Mortgage Payment - Sit down with your accountant if necessary and honestly discuss your income level and living expenses. Take into account future considerations, children, add-ons, amenities, and fix-ups. Your dream home is certainly worth a sacrifice but don’t mortgage your entire future. Remain within reasonable budget.

View Several Homes - See several properties before you make your purchase. With your broker’s help you should be able to view enough properties to get a good perspective of the home market. When you find the right property, all the hassles will be well compensated.

Utilize Your Team - By aligning yourself with the right real estate team like Baguio HomePartners® Real Estate Services you will have an entire team at your disposal.

Agreements should be in writing - All promises and discussions should be in writing. Don’t make any assumptions or believe any assurances. Even the best intentions can be misinterpreted. Have your broker keep an ongoing log in writing of all discussions and get the seller’s written approval on all agreements.

House Hunting - Before house hunting, make a list of things you want in the new place. Then make a list of the things you don't want. You can use this list as a guide to rate each property that you see. The one with the biggest score wins! This helps avoid confusion and keeps things in perspective when you're comparing dozens of homes.

Style And Substance - When house hunting, keep in mind the difference between “STYLE AND SUBSTANCE.” The substance are things that cannot be changed such as the location, view, size of lot, noise in the area, school district, and floor plan. The style represents easily changed surface finishes like carpet, wallpaper, color, and window coverings. Buy the house with good substance, because the style can always be changed to match your tastes.

Advertisements - Ads are created to make the phone ring! Many of the homes have some drawback that's not mentioned in the ads. What's not mentioned in the ad is usually more important than what is.

Vigilant - Remember that the person writing the ad is representing the seller, or himself. The most important thing you can do is have someone on your side looking out for your best interests. Baguio HomePartners® Real Estate Services will critique the property with an eye towards how well it meets your needs and will point out any drawbacks you should know about. So whether you decide to work with Baguio HomePartners® Real Estate Services or not, pick an agent you feel comfortable with and enlist the services of that agent as a buyer's broker.

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