Buying your first home is one of the biggest milestones for any Filipino family. Whether it’s a small condo in the city or a house and lot in the province, nothing beats the feeling of finally saying, “Amin na ‘to!” 🏡 But before you start house-hunting or talking to agents, it’s important to understand what you’re getting into — emotionally, financially, and practically.
💰 1. Know Your Budget — and Stick to It
Before you even start looking at listings, sit down and calculate how much you can really afford. Include not just the down payment, but also monthly amortization, association dues, and maintenance costs. A good rule of thumb: your housing expenses should not exceed 30% of your monthly income.
💡 Tip: Use online mortgage calculators from banks like BPI or Security Bank to get a real estimate of your payments.
📍 2. Choose a Location That Fits Your Lifestyle
“Location, location, location!” is more than just a saying — it’s the golden rule of real estate. Consider distance to work, your kids’ school, hospitals, and grocery stores. A house might be cheaper outside the city, but think of the daily commute costs and stress.
📑 3. Research Before You Commit
Check the developer’s reputation. Are their projects finished on time? What’s the feedback from other homeowners? If it’s a pre-selling unit, visit existing projects by the same company to see actual quality.
💡 Tip: Always verify if the property has a clean title and proper permits from the HLURB or the local government.
🏦 4. Explore Different Financing Options
Home loans in the Philippines can come from banks, PAG-IBIG, or in-house financing. Compare interest rates and repayment terms before committing. PAG-IBIG offers lower rates but takes longer to process, while banks are faster but require stricter credit checks.
🧾 5. Factor in the Hidden Costs
Apart from the price tag, you’ll need to budget for transfer fees, documentary stamp tax, notary fees, and property insurance. These can add up to 3–5% of the total property value.
❤️ Mommy Peach’s Note
Buying your first home in the Philippines is a mix of excitement and responsibility. It’s okay to take your time — what matters is finding a home that feels right for your family’s future. Don’t rush, do your research, and celebrate every small win along the way.
