When it comes to real estate, experts constantly remind investors to consider location first and foremost.
Some aspiring homeowners, however, fail to take into account factors they need to consider in choosing their home location. Too often, many make the decision to purchase based on aesthetic value or design of the house, the size of the property, budget, or affordability.
PSBank shares some major considerations when choosing the location of a great dream home.
Transportation or easy commute
Whether one goes to work driving a car, biking, or taking public transportation, the commute time should be a major factor when choosing a home’s location. Real estate value is higher in areas with major transportation systems but then, time is the more expensive commodity. In addition, development of major transportation hubs also brings about local amenities such as retail stores and restaurants.
Families that have kids or planning to have kids, need to consider accessibility to good quality education. Especially with young children, proximity to location of their daily activities such as schools can significantly impact their growth and development.
Proximity to what a homeowner considers essential in their daily life should also be a major factor. Access to local grocery stores, medical services, entertainment, and service facilities as well as restaurants could make one’s life easier and more comfortable.
Safety and security
Consider the safety and security of the property. Check the crime rate in the community and make an effort to meet future neighbors. Another major safety issue is whether the area of the property is flood-prone.
Bonus: Lender of choice
Once location has been decided, PSBank says another crucial decision relates to the lender a homeowner chooses.
PSBank, the consumer banking arm of the Metrobank Group, now provides a one-day credit decision on home loan applications for the purchase of condominium and other properties from accredited developers that include Federal Land, Megaworld, Ayala Land Premier, Filinvest, Robinsons, and Rockwell, among others.
Aside from a one-day credit decision for condos, PSBank Home Loan with Prime Rebate allows customers to earn rebates or savings when they make advance or excess payments on their monthly due. In addition, it also features flexible terms as well as convenient payment channels through PSBank mobile and online platforms, automatic debit arrangement from a PSBank deposit account, post-dated checks, over-the-counter at any PSBank branch, and via PSBank, Metrobank and BancNet ATMs nationwide.
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