What Type of Home Buyer Are You?

“The house you looked at today and wanted to think about until tomorrow may be the same house someone looked at yesterday and will buy today.”

– Koki Adasi

 

If you look deeper into the larger scale, you will know that purchasing a property is not just about owning a dream home. Whether you plan to invest in a pre-selling condo in Manila or any real estate property in the Philippines, there is something profound and constant about owning a home. Although homebuyers may have the same objective, which is to purchase a property, they may also differ in their approach.

 

The moment you decide to buy a home, your real estate broker would ask you an important question – “What kind of home are you looking for?” Depending on your needs and lifestyle, they know what type of homebuyer you are. In this way, they can assist you in achieving your goal. But to give you an idea, we list down some types of home buyers in the Philippines. One thing is for sure; you belong to one of these categories.

 

The Greenhorn (First time Homebuyer)

 

Because of the benefits one can get in owning a home, more and more people are planning to invest in a property. First-time homebuyers start their house hunting through online. This type of homebuyers has a good idea of what kind of home and neighborhood they want to have, even f they don’t have any real estate experience.

 

The Bachelor (Single Male Homebuyer)

 

If a man decides to move out from his parent’s house, then a bachelor pad is an ideal investment. Usually, a bachelor has an optimal setup for both a guy’s night watching a movie or game and for a relaxing and quiet date night.  Although a bachelor pad entails a minimalistic design, it should be spacious enough to fit in any home appliances.

 

The Bachelorette (Single Female Homebuyer)

 

A bachelorette is similar to the bachelor pad. However, they can freely customize the place to reflect their personality. They do some home renovations such as changing the colors, adding some feminine textures, smart furnishings, and a few home decor accessories.

 

The Newlyweds (Sweet Couple Homebuyer)

 

Owning a home is one of the dreams of a married couple. This type of homebuyer may be their first time in buying a property. That means they are cautious when it comes to decision making. Also, they usually make a wise and practical decision where it would be beneficial for them.

 

The Ideal Family (Married and with kids Homebuyer)

 

Unlike with the newlyweds, this type of homebuyer usually chooses a property that does not just suit for the both of them, but for their whole family as well. They make sure that it is spacious enough for their kids or even pets to move around their home freely. They also make sure to avoid being all cramped up.

 

In a relationship (Boyfriend – Girlfriend Homebuyer)

 

This type of homebuyers is usually unmarried couples that decided to take their relationship to a higher level – by buying a home. However, many couples failed to realize that there’s a lot more to it than just buying and moving into their new place. Not to mention things to consider such as financial matters, what stuff stays and what goes, and most importantly, getting mentally and emotionally prepared.

 

The Wise Investor (Repeat Homebuyer)

 

Purchasing a property is an ideal investment one can make. This type of homebuyer knows how to double or triple their money back. They are usually the ones who kept up to date with the changing mortgage in the marketplace. Moreover, they make sure to take a careful time in deciding which property would make a great deal.

 

Ready to Compromise (Tight Budget Homebuyer)

 

This is the type of homebuyer where they do not care about getting what they want for a home for as long as they have something to live. They know how to separate their wants and needs in life. Also, they are usually practical enough in choosing the right property that would also fit their budget.

 

The Balikbayan (Reaping the Benefits Homebuyer)

 

This type of homebuyers has saved enough money during their years of labor and can now afford to buy a property. For them, there’s nothing more satisfying than coming back home and buying the property of their dreams.

 

The Expats (A New Home in a New Land Homebuyer)

 

Since the Philippines is rich in natural resources, hospitable locals and low cost of living, it has become the home of the expats. Some expats decide to purchase a property for business purposes, while others intend to have it as their new home. They prefer locations that are close to business and leisure establishments for convenience.

 

The Undecided (Up in the Air Homebuyer)

 

Choosing the right property is undeniably a challenge. However, this type of homebuyer is unsure of everything when it comes to home buying. Either they don’t like the appearance of the property, or they think that the price is not worth it.  While they are busy weighing the pros and cons of a particular property, somebody else has already decided, beat them to the draw, and steal it from them.

 

The Opportunistic (Foreclosure Homebuyer)

 

Foreclosed homes also have great deals. That is why many homebuyers would prefer buying these homes since it is cheaper than the brand new one. However, this type of homebuyers should know that there is also a fair share of hard work and headaches, especially when you do not know how to choose foreclosed property carefully.

 

Land Surveyors (Just Checking Homebuyer)

 

For this type of homebuyer, they are the ones who usually weigh and ask questions regarding the price of the property, terms of payment, the condition of the property and its location. For them, it is better to take time and choose carefully than going on an impulsive home buying.

 

Nouveau Riche (Big Time Winner Homebuyer)

 

This type of homebuyer does not care about the price. Most of them would prefer living in an extravagant home. And for as long as the property has all the things they want and need, then they are willing to pay the price – no matter how expensive it is.

 

Eager Beaver (Overly Excited Homebuyer)

 

This type of homebuyers usually goes on an impulsive buying. They usually just care about the appearance of the property without thinking about the cons they might experience in the long run. They are the ones who often end up getting stressed after buying a home since they failed to realize how crucial it is to make a careful decision.

 

Purchasing a property is undeniably stressful and overwhelming. However, if you just know what type of homebuyer you are, and you know what you need in life, then you will be able to choose the right property. Keep in mind that when it comes to real estate investment, decision-making is a crucial thing to consider for every homebuyer.

 

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