The real estate industry here in Cagayan de Oro City is still booming. One might think that the pandemic has affected buyers, but I can see that it is thriving and growing as I have observed it. It might have come to a halt at the height of the pandemic, but in recent months, I can see that it is back in the game.
Speaking of real estate, if you are into finding a home of your own here in Cagayan de Oro, here are three things that you should consider before buying one:
- Long-Term Budget
If you are buying a house in cash, this might not be that big of a problem as you can just buy what fits your current budget. But if you are buying a house under a mortgage, you should consider your long-term budget. You need to estimate your monthly payment and the budget for running an entire household until the end of your term. You need to make sure that you are not only owning a house and you will be living comfortably as well.
- Location
If you want to buy a house here in Cagayan de Oro City, you must be familiar with the location. You need to be familiar with the geography and history of the location of the house you are considering buying. Cagayan de Oro City has a bad history of flooding. So you need to consider where you will buy the home of your place – in the middle of the city, in the outskirts, or uptown.
- Lifestyle
This one might not be the case for others, but one should consider this. What type of lifestyle are you planning to pursue long term? Perhaps you are into a city vibe where a condominium might be good or a tiny house? Or are you into small communities or houses with open spaces for gardens? We all know that buying a house is not only for sleeping but also a place where you can propagate culture and lifestyle of your own.
There are many things you need to consider, but these three can be a start as you plan in getting your dream house here in Cagayan de Oro City.