Women are getting more and more empowered. And it’s shown in their current financial power. Gone are the days when women are left to stand on the sidelines. Women today are fearless. They have their own jobs and they live independently.
Single women are also dominating real estate. According to research there are more women home buyers than male home buyers in the Philippines. Filipinas, from ages 34 to 44 years old, are the most typical home buyers in the country and the numbers continue to grow and get younger as the new year leans on.
Are you a fearless Filipina who wants to buy a property in the future? Then below are some tips that can help you do that!
Know what you can afford
Unfortunately, sexism still rules the workplace. We all know that women are paid less than men. This can take a toll for single women who only relies on their income. When buying a property, it’s very important to know if you can afford the property that you’re about to buy. Use a mortgage calculator to find out your estimate monthly payment. Using a spreadsheet can also help you track down your expenses for mortgage and utilities.
Have an emergency fund
Being single and independent also comes with a huge responsibility. Having a safety net just in case something goes awry in your home ownership is very important. Set aside a part of your salary as an emergency fund. Investing on insurance for your home and your things won’t hurt too.
Choose a secured neighborhood
Unfortunately, women are still often targets of burglary and other heinous crimes. We are all aware that you can protect yourself from any harm that may come. However, it’s still better to be safe than sorry. Always remember to choose a neighborhood or location that has a low crime rate. Make sure that the property you choose is located near a police station or has a security team that protects the place 24/7.
Take your time
Buying a house is one of the biggest financial step that anyone can do. When it comes to buying property, it’s for the best to take time and do a thorough research. Consult property portals to see affordable properties that are available online. If the property feels wrong for your finances or lifestyle, then maybe it’s time to let it go and find something that’s way better.
Live independently and bravely, girls! For properties that may suit your lifestyle, click here.