Are You A First Time House and Lot Buyer in Baguio? Your Ultimate Guide
Whether you are looking for a newly built or used property for residential purpose, it is always best to very cautious. Not only because we are talking about money or an investment, but because it will be your temporary or permanent home with your loved ones. It has to be something worthy and lasting. You have to be very sure about its overall quality in relation to your needs. You have to come up with the best well-informed buying decision. And so, we have created an ultimate list of pre-buying tips. You can use this as your guide or starting reference when buying a house and lot for sale in Baguio City.
1) Ask whether the community has a good water supply and sewer connection. A stable source of clean water is a must for survival and comfortable living. Sewers are vital to maintain cleanliness and hygiene, keeping everyone away from any sickness or disease.
2) Check the electricity and communication facilities in the area. Does the community experience rotational brownout? Do they have cellular sites for mobile phone companies? Do they have internet source available? These are essential for a hassle free lifestyle.
3) If by any chance, the house and lot does not have proper access to public road, there has to be a road maintenance agreement. You know, private roads require maintenance, which are not obviously covered by public authorities. All of you who are residing in the private neighborhood must come up with an agreement to cover any repairs and other maintenance requirements.
4) If ever the house and lot is still under development or construction, ask about the restrictive agreements. Request for a copy so you will know the restrictions as to the minimum size of the house, the allowable improvements you can make, and others. You know, you might be prohibited to extend your house or what.
5) Go to the city zoning department and ask whether there is an existing plan or project on the area such as a road widening or creation of new roads and the like.
6) Hire a lawyer to check the legality of the deed of sale. The land or the house and lot might have been subjected to another sale before yours. Another possibility is that it might have been under a mortgage or what. Make sure that the house and lot is totally yours, without any unwarranted obligations or claim of ownership from others and so on.
7) Look for a house and lot that is within your means or budget. It is recommended that you buy a property worth around thrice your annual income. So if for example, you are earning 500,000 pesos a year, then you can go for a residential investment worth 1.5 to 2 million pesos. But of course, if you will be qualified for a housing loan, then you can adjust this amount.
8) Check whether the house is near government agencies or public institutions such as hospitals, colleges, church, and more. Consider these before your other social needs.
9) Get a real estate agent in Baguio City or a broker. They know the ropes of real estate investments so they can help you find the best residential property and give you more expert buying tips.
10) If you can still accommodate hiring a home inspector into your budget, please do so. Inspectors are engineers who know the fundamentals of housing and what makes it suitable for living. They can also give you a diagnosis whether the house and lot is worth to buy considering its possible problems and more.
Good luck in your search!
Here are a few hottest real estate investments too:
· Condominium for sale in Baguio City
· Apartment for sale in Baguio City
6/27/2022 07:23:25 pm
Great tips provided. Thanks a lot.
3/5/2023 10:48:40 pm
As a first-time house and lot buyer in Baguio, I found this guide to be extremely helpful and comprehensive. The author covers everything from financing options to the importance of location, providing valuable insights for those new to the process. However, I would have appreciated more information on potential pitfalls and how to avoid them. What are some common mistakes that first-time buyers make, and how can they be prevented?
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