Proptech platform Ohmyhome bares five mistakes to avoid when purchasing a home

Leading property platform Ohmyhome shares five usual
mistakes Filipinos make on their first property purchase
—choosing the wrong location, not knowing the best property
 type for one’s needs, not understanding financial options,
underestimating homebuying costs,
and working with the wrong agent.

For a lot of Filipinos, buying their first home is mostly uncharted territory. The process involves an overwhelming number of details that can prove to be challenging to be completely mindful of, and missing even just one can lead to costly mistakes sooner and later.

Here, leading property solutions company Ohmyhome shares the five usual missteps that prospective homebuyers can make and offers tips on how to avoid them. 

Mistake #1 Choosing the Wrong Location

Property experts say that real estate is a high-investment purchase based primarily on location. “We have heard too many stories about people moving into their dream homes only to find out months later that flooding occurs after a heavy downpour or internet and cellular coverage is extremely weak,” Julian Sison, marketing manager of Ohmyhome, says.

Thus, prospective homebuyers must get to know all they can about the location of their future home: is it near an earthquake fault line? Are transport hubs accessible? They should also check out upcoming developments such as new infrastructure projects and new business and job opportunities. 

Ohmyhome: Why invest in real estate in 2021

Filipinos seeking stable and safe investments might want to
venture into property this year, as data from real estate analysts
 show a positive outlook for Philippine real estate in 2021. 

Forecasts for the real estate industry in 2021 show that property as an investment remains a stable and safe option, with upcoming developments in the country’s business environment and national infrastructure projects set for completion.

Industry experts assert that the property sector has “continuously displayed resilience over the last decade, posting record high-levels in take-up, supply, prices, and land values.” 

Likewise, data from research show that despite the pandemic, property investments yield steady and lucrative returns, preserve wealth, and generate capital appreciation, showing how real estate is one of the best long-term investments for individuals and families.

All these points out the fact that the real estate industry remains one of the safest spheres for investors who seek passive income.

With Ohmyhome, purchasing a property has never been easier

With Ohmyhome, viewing properties is a hassle-free and 
informative experience. Just one tap on the app or one click 
on the website allows each property listing to show high-quality 
photos, the price of the property, the complete address,
 and an option to view its location on the map.

From the time leading proptech company Ohmyhome launched its services in Singapore in 2016, and Malaysia in 2019, it has helped thousands of property seekers find the ideal home through its practical and innovative application and website. Buoyed up by their impressive success in these first two outings, Ohmyhome had looked to replicate their performance in the Philippines, a fact that is now validated by the tremendously positive feedback from initial users.

Primed to make the housing journey fast and affordable for the Philippine market, Ohmyhome lost no time in making a vast number of options available for Filipino homebuyers. 

“All types of residences are available from our real estate developer-partners,” company founders Race and Rhonda Wong confidently assure users. “These include condominium units, bungalows, single-attached and single-detached house-and-lot units. Lot-only options are also in the platform.”

Find the ideal property for you with easy-to-use proptech platform Ohmyhome

Property seekers can now search for the property they 
want and need—and transact housing services
—through proptech startup Ohmyhome, 
which recently launched its one-stop-shop
 digital platform in the Philippines

When Ohmyhome, Singapore’s market leader in property solutions platforms expanded into the Philippines in September, it saw that the demand for residential properties had remained strong amidst the pandemic. This means that despite the global health crisis randomly affecting the real estate market, there is still a significant interest in residential properties.

Before the pandemic, Filipino property seekers looked for good design, strategic location, and modern facilities in prospective homes. Now, with quarantine constraints still in place, the priority is for stable and secure bases for learning and working from home. 

Race Wong, Chief Product Officer and Co-Founder of Ohmyhome, explains the shift in buyer preferences: “While property seekers are still looking at houses located near commercial or urbanized districts, there is an increase in prospective homeowners looking at properties outside Metro Manila, due to the changes and increased flexibility in work and study arrangements”