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Ultimate Guide To Buying Luxury Homes — Part 1

Buying a house has always been a goal for many people. That is precisely the reason why a guide to home buying has become extremely helpful in easing away the daunting stress that goes if you want to buy a house. While the thought of factoring in your down payment, monthly mortgage payment, property taxes, interest rates, and navigating the home-buying process may sound pretty exhausting, rest assured that investing in real estate is even more rewarding than you might imagine!

Especially if your ideal home is under Brittany Homes, where you’ll find nothing but an exceptional luxury condo and a wide ray of house and lot for sale. Perhaps you already found your dream house but feel somewhat overwhelmed with the buying process. Well, here’s some great news: this article will serve as your ultimate guide to home buying, much better because it’s divided into two parts to be completely guided. As the saying goes, the more knowledgeable you are in buying a house, the less stressful you can be.

Part 1 of Ultimate Guide To Buying Luxury Homes

To assist you in navigating the home buying process and gaining familiarity with essential terminology such as interest rate, tax returns, home insurance, and purchase contract, this article will guide you through various house-hunting methods. It will also cover critical considerations when purchasing a home (home prices), standard down payments, home inspection, financial management, and why owning a house is a worthwhile investment.

More important is that this House Ultimate Home Buying Guide Part 1 will make you realize the exciting and pleasantly challenging nature of taking the first step toward buying real estate property.

Exploring house hunting method

To start your House Ultimate Home Buying Guide Part 1, let’s begin with the ways you can search for the lot properties you may want to purchase. The two most recommended options for you to initiate your buying process are the following:

Look into the real estate platforms

This option is for those taking the DIY route to house hunting and aiming to save on real estate agent commissions. If you’re considering this path, exploring real estate platforms is the way to go.

You can gather details on various house and lot for sale and even luxury condo while not being in the real estate property personally. With all the available pictures online, it’s like you’ve taken a 3-D open houses tour. 

Hire a good real estate agent

This second guide to home buying is perfect if you’re looking for expert advice on the housing market, monthly mortgage payments, and the real estate market that can significantly alleviate anxieties. By sharing with them your monthly income, a home loan that you can get, and interest rates that you can afford, even your home style and location preferences, you can find your ideal home in the local market. 

Seller’s agent or a good real estate agent, whatever you want to call them — they are invaluable experts who can help you navigate the real estate market for a much easier guide to home buying. 

Things to consider when buying a house

Whether you want to buy a house or other lot properties for investment or for you to live in, aside from down payment, monthly payments, purchase price, the housing market, and tax breaks — here is the list of things you must look into to ensure that your dream home is a wise financial investment.

Cost of home purchase

Needless to say, the cost to buy a house varies depending on the real estate property you’re about to buy. The more opulent and lavish the property, the higher the selling price. However, it’s essential to understand that the premium prices attached to many of these upscale residences are often justified. This includes a house and lot for sale under Brittany Corporation. 

Location of the real estate property

Proximity to a range of amenities like shopping malls, universities, and medical facilities enhances the desirability of a property. In House Ultimate Home Buying Guide Part 1, you must understand that when considering a purchase, you must always ensure it’s conveniently located near your workplace or your child’s school.

Ideal community to live in

This crucial consideration is a key component of the House Ultimate Home Buying Guide Part 1, which you should always remember. Apart from all the practical and material aspects that require your attention, it’s crucial not to overlook the significance of residing in a community that promotes well-being. After all, you must ensure that your money invested in real estate agents, house hunting, and property taxes is worth your earnest money.

Here’s the exciting part: if you’re seeking an ideal and sustainable community, you can explore a variety of luxury homes in the Philippines offered by Brittany Homes. These homes promise the finest living experience one could ever desire.

Standard down payment if you want to buy a house 

Assuming you’ve already secured a real estate agent, done with your house hunting, addressed your closing costs, and organized your finances, the next logical step involves determining your required down payment to progress your buying process. 

Typically, the minimum down payment for purchasing a house ranges from 10% to 20% of the total purchase price. For instance, if your dream home is priced at ₱57,000,000, your down payment will amount to anywhere between ₱5.7 million to ₱11.4 million.

Once this down payment is squared away, you can shift your focus to managing your monthly payments, property taxes, a credit report, and mortgage rates.

House inspection

Whether your house is a bungalow, duplex, triplex, or multi-story, as a part of House Ultimate Home Buying Guide Part 1, it is crucial to inspect your home to make sure that your earnest money is worth the investment. 

For your property inspection, you can focus on two main parts:

House Exterior

The exterior part of your real estate property is the outside representation of your home. So you might wanna make sure that everything is good the way it should be. Be sure to inspect the condition of your roof, the integrity of your walls and foundation, and assess the outdoor area for safety, especially if you have children who will be playing there, and confirm whether it offers sufficient space for your vehicles.

Make every credit report and interest rate that you receive remind you of your sound investment and not the other way around. 

House Interior

Just as you carefully inspect every aspect of the properties during the open houses you’ve visited, it’s equally important to ensure that everything, from the walls and floor plan to locks, gates, plumbing, and ventilation in your real estate property, is in excellent condition and requires no repairs.

To understand the standards your dream home should meet, consider the luxury condo and other lot properties offered by Brittany Corporation as your guide!

How to manage your finances?

Deciding to buy a home is one of the most important financial decisions a person could ever make. Some rely on their monthly income to save money, while some highly depend on the loan program or other conventional loans to buy a house in the housing market. 

As a part of the House Ultimate Home Buying Guide part 1, we’ll focus on the essential financial considerations you should address:

Consider your monthly income

This is probably the most essential ultimate guide to home buying, taking into consideration your monthly earnest money. Various factors, including the fee of your seller’s agent, down payment, closing costs, interest rates, and the purchase price of your home, depend on the debt-to-income ratio. 

In general, it’s advisable to have monthly housing costs that do not surpass 28% of your monthly income. And considering your conventional loan and another loan estimate, it should not exceed 28% of your monthly income. 

Housing loan

If you decide to have some conventional loans in the bank to afford the home prices in the list of your probable house, you must know that the minimum and maximum loan varies depending on the bank, just as mortgage rates differ on the amount you borrow. 

Most of them have a maximum loan of 80% to 90%. So, to ensure a smooth buying process, make sure you have enough money for a down payment or perhaps know of down payment assistance programs. Always keep in mind the importance of having some extra funds on hand.

Property Costs

The House Ultimate Home Buying Guide part 1 would only be completed by including the property costs. Suppose you already consider the purchase contract, how much the mortgage rate will be using a mortgage calculator, and plan your monthly payment. Still, it is important not to set aside your probable property costs.

It includes the moving of your furniture from your old place to your new home, repairs, maintenance, and even some association fees. It would be best if you sorted out your finances to be prepared for all the costs of buying a house. 

House features that make your payment a worthy investment

Among all the real estate properties available in the local market, what sets monthly house payments more rewarding is that you have complete control to do what you want. You have the freedom to make renovations at your convenience and host events without concerns about your neighbors overhearing.

Imagine this: After a grueling day at work, returning to a tranquil, private haven where you can unwind without any disruptions is the very essence of why some individuals prefer to buy a house even if they already have luxury homes in the Philippines. It’s the soothing sensation of unwinding after a demanding day, secure in the knowledge that you have a serene abode to retreat to, much like the tranquil real estate offerings from Brittany Corporation.

These are just a handful of the reasons why, out of all the major purchases you make, buying a home holds the highest value.

Final walkthrough in Ultimate Guide To Buying Luxury Homes Part 1

Yes, buying a real estate property can be a lengthy and, frankly, intricate endeavor. It requires a meticulous and hands-on approach in every aspect of decision-making, from evaluating home prices, interest rates, adjustable rate mortgages, location, and if it’s suitable for your budget. 

But every effort pays off in the end. In the case of home buying, living in an ideal real estate property will be your ultimate reward, particularly if your goal is a residential place within the realm of Brittany Homes. 

This real estate company never fails to provide the epitome of an opulent experience to its residents. As this article guides you through the steps and considerations of purchasing your dream home, a countless number of luxury homes in the Philippines under Brittany might be what you’re looking for. 

After all,  Brittany Homes offers everything you seek in an ideal home—a serene environment, world-class house design, and a sustainable community!

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