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Buying a new home, whether for the first time or not, is generally a momentous undertaking. It’s the biggest investment most anyone can make, and it’s important to understand the key steps which ensure the purchase is completed seamlessly with all later issues being avoided.

1. Establish your criteria for your desired home

The process begins by understanding what you want and need from your future home:

  • Will you reside in it for the long term, or are you investing to move in but will eventually rent out the property?
  • How many people will be living in it?  How many rooms do you need? How many bathrooms?
  • Is there a particular location you prefer to buy a home/live in?
  • Is plenty of open space most important or is a conveniently located compact home within the city of your preference?
  • What is your budget? Do you have an established minimum and maximum price?

By being as detail-oriented with everything you need, you are better able to narrow down your choices and find the best possible fit.


Read: Considerations to Make When a Buying Home for Starting and Growing a Family


2. Look for suitable properties based on your set criteria and research the market

After setting your criteria, the next step is to do some research on the current residential real estate market and take a look at what’s available. The key is not to settle on the first property you come across, and not even the second, third, fourth, or fifth.

Remember that you are searching in the digital age, so along with what you see on television and in print, there are also online property platforms like Ohmyhome that you can visit to find up-to-date house and lot for sale or condo for sale listings, discover potential developers to purchase from, and get information and compare prices.

This is also the ideal time to do some research on your preferred location. Does it have good transport facilities, schools, banks, health institutions, and commercial areas? Equally important, does the area have good infrastructure to protect from calamities? And is it constantly being developed for improved living and increased property values?

3. Enlist the help of professionals. 

Within the industry are professionals who can and want to help homebuyers make the most informed choices possible and make successful purchases. Trusted real estate agents are of great assistance when having to sort through several options and navigating the market overall, scheduling and going to home viewings, and simply helping throughout the entire process. 

Professional help is also not limited to individuals involved in real estate, as this also includes the developer you choose if you happen to be buying a home that is brand new. The truly great developers not only ensure the quality of your new home but are also known to provide unmatched customer service that makes buying and owning a home easier.


Read: Three Benefits of Buying a Home With the Help of an Agent


4. View and inspect your options

Viewing a property is something you can’t forego as it is a key proponent to your making an informed choice. You need not visit every property you see listed, as the prior steps will be what help determine which properties are worth taking the time to see.

Don’t be shy about being very detailed with your inspections, as it is your hard-earned income after all that you’ll be spending on this investment, and it’s a home that you’ll be owning for the foreseeable future. 

This, again, is also when your chosen agent comes into the picture, as the right one will have the experience and expertise (and willingness to exhaust all of these) that will ensure you wind up with the best possible home to buy.

5. Review your finances and establish a budget

You’ve likely been saving for a new home even before you started searching. Still, you’ll have to take into account how much exactly you have available for your down payment and the expenses associated with the purchase. 

As most experts recommend, it’s best to be ready with at least 20-percent of the home’s purchase price to qualify for a housing loan that covers the remaining 80-percent, and another 5- to 10-percent to cover fees and other costs. Expenses do not end at the purchase, however, as loan payments of course have to be made, and possible upkeep or repairs of the property in the future also have to be taken into consideration. 


Download: Best Properties to Buy in the Philippines for Different Budgets in 2021


6. Get approved for a home loan

An ideal way to make your finances are kept in check is to move ahead and get pre-approved for a home loan. This is the first step to making your purchase final, as well as give you bargaining power and ensure that financial constraints do not compromise the deal you’ve made during negotiations for the property.

When your finances and pre-approval align with all the research, property visits, and negotiations you’ve done beforehand, then you are ready to apply for the full approval of a home loan like those offered by the BPI and take the first step in finalizing your purchase and moving into your first home. Along with being used for home purchases, BPI home loans can also be used to finance the renovation or construction of your home, or for the purchase of a vacant lot that you can build your next home on in the future.

The Bank of the Philippine Islands, more commonly known as BPI, is the first bank in both the Philippines and Southeast Asia, and the fourth largest bank in terms of assets, and the second largest in terms of market capitalization in the country. The bank was recently recognized as the Best Bank in the Philippines for 2020 by Euromoney, a prestigious global financial publication.

In July of 2021, BPI forged a partnership with Omhyhome to allow homebuyers to apply for their different home financing solutions more conveniently.

To get started on the home loan application process, or receive comprehensive assistance on the entire home buying process, connect with an Ohmyhome agent today.

For the best and latest homes for sale in the Philippines, visit Ohmyhome online or download the Ohmyhome app to view listings conveniently and from almost anywhere.


Ohmyhome was launched in the Philippines in September 2020, following the company’s establishment of a tech team in the country in 2017. Ohmyhome was originally founded in 2016, and subsequently rose in Singapore as a leading PropTech solution and licensed real estate agency.

Ohmyhome expanded into the Philippines so that Filipino home seekers can have a real estate partner that they can trust to have their best interests at heart and can be relied upon to provide exceptional services throughout the entire property journey.

Featuring thousands of properties across many of the Philippines’ major real estate brands, Ohmyhome differs from other local platforms by going the extra mile and extensively helping buyers narrow down their choices and find the property that best suits their budgets, home needs, and lifestyle preferences.

The company’s Real Estate agents help in the shortlisting of options and provide professional services through the entire purchasing process. These include assistance in property inspections, negotiations, the finalization of the Conditions of Sale, deposit collection, the submission of property documents, as well as providing buyers regular updates. 

Ohmyhome helps Filipinos find their dream homes, all while making sure each real estate transaction is complete and is an efficient and enjoyable experience.

Stay connected with Ohmyhome Philippines by following our official Facebook, Instagram, and LinkedIn accounts. 

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