For many, acquiring their own home seems far-fetched, but with the influx of property developments, many dared and succeeded in getting one.
If you’ve been working for a few years and are looking to invest in your future, now could be the perfect time to buy your first property.
The pandemic has accelerated the desire for homeownership, especially among millennials and Gen Z professionals. With people working remotely and spending increased time at home, they have developed a heightened appreciation for personal space and home investments. Many young professionals are now entering the housing market, with condominiums being a popular choice for those seeking modern, convenient living spaces that match their modern lifestyles.
These are some of the things to consider before buying your first property, according to PSBank:
Accessibility
When choosing a property, consider its proximity to your workplace and public transportation. A condo near major transport hubs, like the LRT or MRT, can save you time and money on your daily commute.
Amenities and lifestyle fit
Your lifestyle should guide your condo choice. Many modern developments cater to young professionals and couples with features like co-working spaces and fitness centers. Consider these factors, as they can greatly enhance your living experience and convenience.
Unit Size and future needs
Think about your long-term plans when choosing a unit size. If you’re single or part of a couple, a smaller space might suit your needs. However, if you foresee starting a family, consider how much space you’ll need in the future to accommodate this lifestyle change.
Pricing
Condo prices can vary based on several factors, including the type and size of the unit. Pre-selling units tend to be more affordable, making them a popular choice for first-time buyers, while ready-for-occupancy condos are typically priced higher due to their immediate availability.
Financing your dream condo
For many young Filipinos, especially those in the early stages of their careers, condo ownership might seem out of reach. However, with proper financial planning and the right home loan, you’ll be surprised at how simply attainable it is.
PSBank offers a range of home loan products with faster approvals, flexible terms, and attractive benefits. Their streamlined process, which provides credit decisions in as little as one day*, ensures that buying your first condo can be hassle-free. Whether you’re purchasing from pre-selling developments or ready-for-occupancy units, PSBank home loans make condo ownership accessible and convenient for young professionals.
