1. Have a Loan Pre-Approval by the Bank or Pag-IBIG

What to try  before buying a house includes getting pre-approved. In fact, it is one of the most important parts of the home buying process. Loan Pre-approval means you should be able to get the loan as long as nothing changes about your financial situation.

2. Look for Bank with cheapest Interest. 

While getting pre-approved for a mortgage is a significant step for a first-time buyer so is shopping for the best deal possible. You will probably be paying the mortgage for a while so getting the lowest mortgage rate should be one of your prime considerations. Be sure to look at the annual percentage rate you are paying so you can compare apples to apples.

3. Know all your expenses.

There are a lot of fees that come with buying a property above and beyond the mortgage. Insurance, repairs, association fees, property taxes – you should have the income and the budget to handle all of these things if they are relevant to your purchase.

4. Know what you really  want.

Do you want a House and Lot or a Condo? For many first time home buyers, this is one of the first dilemmas they will try to solve. In fact, many buyers will check out both because they can’t structure their mind. To make sound decisions, you should know the pros and cons of a condo vs. a house and lot.

5. Work with a TRUSTED & Skilled  Realtor. 

Every neighborhood has its unique qualities that you simply want to remember of before you purchase . An agent that is well-informed about the area will also know what property there are worth, which will help you avoid overpaying for a property. Make sure you interview several different buyers land agents. Choose someone that’s full time working within the business a day and features a recent history of successful sales. The better the real estate agent knows the area, the better equipped they will be in understanding the differences in market value from one property to the next.

6. Understand the actual value of any property you are buying.

Working with a real estate agent that understands market values in your area is critical if you want to avoid overpaying for your house. In addition to the actual purchase price, there are other fees like appraisal  that can cost you more when you don’t understand the value of the home. Sellers and banks might not be flexible do you have to ask about adjusting the worth later, either.

7. Buy what you are comfortable paying for.

You may be cleared for a loan that is far above what you are comfortable paying for. Lean on the side of caution and mortgage only as much money as you are comfortable with. There are tons of home buyers who will mortgage themselves to the hilt only to seek out out later they’re a slave to their home. Unless you want to be eating spaghetti dinners at home, every weekend don’t stretch beyond your means.

8. Be sure you understand any HOA that you will be part of.

house and lot in a Subdivision and a Condominium have HOAs. These organizations are mandatory if you reside within the area, so you’ll need to pay dues and believe the association to require care of certain things, like maintenance of common areas. Some homeowners associations are great, some are not. Know what you’re getting yourself into before purchasing during a neighborhood with an HOA. One of the best ways to find out is by asking a few of the people who already live there.

9. Know the potential growth of your investment.

Buying a fixer-upper in a neighborhood that’s growing more popular offers the likelihood of a rise within the value of your home. In contrast, buying the nicest house within the area might not have much of an upside.

Consult with your Trusted Realtor  or Agent and ask them their opinion on the prospects for profit if the overall area continues to rise in value.  If the return on investment is necessary, this is surely something you should find out.