“When is the right time to buy a property?” is the big question whether it’s your first time to buy your first house right out of your pocket to move out or an OFW worker who’s ready to retire in the Philippines (or anywhere in the world for that). Believe us when we say that we’re excited for you to have your own home without having to pay extra things like rent, but before you move forward in buying a house as an investment property, you should ask yourself these questions first:

Do you have the means?

Most people forget to answer this question before buying a house of their own because they’re too excited to start a new life right away, so before you really consider in acquiring your new home, you need to look at the housing market trend to see everything from the land ownership to the property management company you need to deal with. You also need to consider the property taxes as well as the monthly mortgage payment that you need to handle.

There are real estate investors out there who can give you the best place at the best deal that comes with your mortgage insurance and can help you walk you through the mortgage payments you’ll handle! Or you can purchase some raw land for you to build your own dream house to save money in the real estate market. But whatever it is, we make sure that you achieve your dream home either way!

when is the right time to buy a property

Do you have current debts to settle?

Whether you’re trying to lower your credit score by paying your credit card bill on time or have other debts you need to settle, it’s important to clear your debts as soon as possible before buying a home for you and your loved ones. If you want to buy a property without the hassle of paying it at once in the meantime, there are real estate companies that offer flexible down payment schemes with reasonable interest rates so that you can make the most of your new home!

With the competitive market offering various investment properties such as undeveloped land and house and lots with flexible payment and down payment schemes for you to enjoy, having a loan and a borrower who can agree with you has never been easier!

Suggested Read: The Cost of Living in Metro Manila

Do you have a good Emergency Fund Amount?

If you want to know what an emergency fund is, think of it as “back up money” just in case you ran out of actual funds to purchase something that is urgent or needed such as medical, rent, and other things that demand to be paid upfront. Some build up their emergency funds for 3 – 6 months while others build it for a year, so it’s a good thing to start building up your emergency fund while you still can from your passive income to setting aside a part of your existing income you have so that you can grab some money for emergencies in the near future.

Minimum amount of money for Emergency Funds

To give you an idea as to how much you would save up for your emergency fund, we can give you a rough estimate of P500k – P700k for someone who’s in an Associate or Executive position while a person who is at a Beginner – level position can save up as much as P50k – P100k for emergencies that one might have one day. It’s okay to go beyond the limit, provided that you still have money left for your other expenses and for yourself to spare the trouble.

We’re not saying to dump everything in your emergency fund, but to set aside the money you have for it so that when the time comes that you need money for something important or urgent, it’s there for you in one grab or send!

Do you have a back up plan?

The hard reality in acquiring a new home is that there are many options you get to choose from if your first choice isn’t really what you’ve expected or you want to explore more choices to go over and decide. Rental properties are always a good back up option if you’re not up in having a place of your own yet. There are a variety of rental properties for you to choose from as a rental property would be perfect for you to start slow before in buying a place of your own.

If you opt for a place that’s up for rent to own, it’s a convenient option compared to a rental property itself to save up your rental income more. A rental property with a good deal is an option that would definitely be better than nothing at all.

Now: Is It The “Right Time” For You To Buy a Property Of Your Own?

Now this is the second most important question people often miss in making a real estate purchase. In order for you to consider the right property for you, you have to consider your needs and wants in a home you want to buy as it’s not joke that your home purchase is the property that you want as an investment in the long run when you decide on selling land as home prices begin to double (or triple) as long as the market decides that it’s worth investing.

You can buy a house of your own when the seller’s market isn’t at its risk in the next six – twelve months, but with the COVID – 19 pandemic going on, more properties, especially the rental properties, have declined dramatically as home buying becomes easier and an advantage for people who need a new home of their own.

As buyers demand quality at the best prices, so do the cost of the land itself as well as better mortgage rates. After all, it’s a wonderful life when you have a place that wouldn’t break your budget, a good investment in the long run, a demand for buyers to invest, an investment that can attract more investors, and to enjoy your life to the fullest with, right? So happy house hunting and may best deal win!

Suggested Read: Affordable Homes in The Philippines for Young Homebuyers


Looking for an affordable property? Contact us today

A lot of Filipinos dream of owning their first apartment or house and lot. With today’s booming real estate opportunities, there are so many options to choose from.

Here at Vistaland International, we have a roster of affordable property listings from several locations across the country. Whether you’re looking for a place to live in Manila, Cebu, Davao and etc, we’ve got you covered. So contact our real estate agents today!

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Vistaland International was primarily created to bring OFW closer to their dream of finally acquiring a home in the Philippines. And with the rising cost of living in the country, OFWs and their families are looking for ways to earn extra cash flow to support their daily needs. Luckily, you can also join the global network of Vistaland International as a real estate professional and earn a commission!

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Vistaland International Marketing, Inc. (VIMI) is the international marketing division of Vista Land. Aiming to provide OFWs and migrant Filipinos a home in the Philippines, VIMI has established long-lasting relationships with brokers and clients around the world.

Get started with your property investments! Contact us today and follow our social media accounts: Facebook, YouTube, Twitter, Instagram, and LinkedIn.