Money Matters

Why Your Lifestyle is Important to Consider When Buying Your First Home

Budget should come in second


We’ve previously mentioned how much you should have saved up before considering getting your first home, but while budget is important, there are so many other boxes that you need to tick off.

In a webinar during the Carousell Property Online Expo, professional licensed real estate broker Julius dela Cruz of RE/MAX Unlimited shares that there are actually eight things to take note of before buying property:

  • Lifestyle
  • Budget and terms
  • Key locators (schools, malls, offices, grocery stores, medical institutions, etc.)
  • Road networks (exits, freeways, etc.)
  • Size requirements
  • Legal paperwork
  • Maintenance
  • Delivery date

While people would usually prioritize budget and terms of payment when buying property, Julius says that something else should go before that.

“I would say the most important factor to consider… is lifestyle. You have to think, where do you usually go to? If you have kids, where do they go to school? What kind of work will be required from you? Do you have the luxury of travel time to allocate every morning of afternoon [for commuting]?”


He adds that making your lifestyle the top priority for choosing a home will also affect the kind of property that you will pick. “For example, if you want a house, definitely maintenance is going to be a normal part of your day. And if you don’t like that, maybe a condo’s fit for you.”

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These very personal requirements should be taken into consideration when you’re in the market for a new home. List them down to make your search easier.

“During the first three months [of finding the right property], it’s fun and games,” says Julius, noting that it can take a really long time to stumble upon what’s best for you. “The wise way to do it is to shortlist three to five properties.”

Once you’ve picked your space, you’ll want to know its history.

“If you’re buying from a developer, it would be easier. You’re buying based on the availability, the views, the floor plan, the size of the property—the size, by the way, affects the valuation of property… finishes, and the process of what you’ll have to go through. It’s more of a formal set up when it comes to buying from a developer.Shutterstock


Buying from a secondary market, however, is a different thing. “There is a right way to ask for the proper documents,” says Julius, noting that usually, secondary makert paperwork is tied to the homeowner’s family history, which should be discussed with care. “Maybe the first few things you can ask is: ‘How old is the property? Why is it on sale? How big is the lot area, the floor area? Would you have the proper titles?’”

It’s important to do your due diligence, and that means visiting the site so that you know exactly what you’re purchasing. If it’s not possible, request for a video call and a quick tour. This way, you’re not just basing the space off pictures; you’ll also be able to visualize how your life will be once you move in.

Want more webinars? Carousell Property Online Expo runs until July 18, 2021. Visit for more details.


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