{"componentChunkName":"component---src-templates-pursuit-of-passion-pursuit-of-passion-tsx","path":"/pursuit-of-passion/wanting-to-be-a-young-homeowner-heres-what-you-should-do/","result":{"data":{"pursuitOfPassionData":{"seoTitle":"Wanting to be a Young Homeowner? | Blogs | Avida Land","seoDescription":"Check out these pro tips on how you can buy your own home before you turn 30.","title":"Wanting to be a Young Homeowner? Here's What You Should Do","subtitle":"Wanting to be a Young Homeowner? Here's What You Should Do | Avida Land","category":"finance","featuredImage":"https://rbgcms-alb-prod.ayalaland.com/content/uploads/images/1666688939514-669989-ismifg6q6rc.jpg","optimizedFeaturedImg":{"childImageSharp":{"gatsbyImageData":{"layout":"constrained","backgroundColor":"#e8f8f8","images":{"fallback":{"src":"/static/b119a765ca31809e57f52894fff289a1/dac10/1666688939514-669989-ismifg6q6rc.webp","srcSet":"/static/b119a765ca31809e57f52894fff289a1/26a49/1666688939514-669989-ismifg6q6rc.webp 375w,\n/static/b119a765ca31809e57f52894fff289a1/2ccd6/1666688939514-669989-ismifg6q6rc.webp 750w,\n/static/b119a765ca31809e57f52894fff289a1/dac10/1666688939514-669989-ismifg6q6rc.webp 1500w","sizes":"(min-width: 1500px) 1500px, 100vw"},"sources":[]},"width":1500,"height":800}}},"videoLink":"","slug":"wanting-to-be-a-young-homeowner-heres-what-you-should-do","datePublished":"October 24, 2022","shortDescription":"Check out these pro tips on how you can buy your own home before you turn 30.","homeBanner":null,"contents":[{"caption":null,"caption1":null,"caption2":null,"caption3":null,"caption4":null,"title1":null,"title2":null,"title":"Start saving","description1":null,"description2":null,"description":"Owning a home has always been considered an achievement, a significant milestone in one’s life. It signifies stability and responsibility—after all, buying and owning a home can be a huge commitment. But that commitment comes with the absolute joy of having something tangible and monumental for yourself, a symbol of all the hard work you have done. Very few pleasures, if any, can match the joy of owning your own home. And while you may think that owning a home can only be done later in your life, think again! Many people in their 20s are making the transition, aiming to become homeowners before they turn 30. With proper spending and saving, it’s possible.\n\nOwning a home in your 30s means you get to enjoy your property’s many perks and benefits early on. Apart from the freedom, owning a home means you can control your monthly housing cost, since the payments you make are more or less stable. Owning a home is generally cheaper than renting in the long run. A home is considered as a long-term investment vehicle, as it is a property with value that can rise over time. And investing in a residential property is also a great way of building your credit. \n\nOf course, the best perk of owning a home is being able to build an abode that’s your own—based on what you want and how you want to live. Wouldn’t it be great to enjoy this while you’re still in your 20s and 30s?\n\nCheck out these pro tips on how you can buy your own home before you turn 30: \n\nStart saving for your down payment as early as now. Down payments are typically 20% of the purchase price, but the more you can put down, the better. You’ll get to secure a better interest rate, avoid paying mortgage insurance, and have lower monthly mortgage payments. Some saving tips: set a fixed amount for your home purchase savings, automate your savings, and have a separate savings account for your down payment. ","optimizedContentImg":null,"optimizedContentImg1":null,"optimizedContentImg2":null,"optimizedContentImg3":null,"optimizedContentImg4":null,"message":null,"type":"component9","video":null},{"caption":null,"caption1":null,"caption2":null,"caption3":null,"caption4":null,"title1":null,"title2":null,"title":"Have a stable source of income","description1":null,"description2":null,"description":"You need job security for two things: first, banks and lenders will want to see that you have a steady flow of income. And second, home ownership doesn’t end with down payments and monthly mortgages. You also need to pay for insurance, renovations, utilities, and unforeseen home expenses—expenditures that you’ll be able to pay when you have a stable job.","optimizedContentImg":null,"optimizedContentImg1":null,"optimizedContentImg2":null,"optimizedContentImg3":null,"optimizedContentImg4":null,"message":null,"type":"component9","video":null},{"caption":null,"caption1":null,"caption2":null,"caption3":null,"caption4":null,"title1":null,"title2":null,"title":"Looking at possible streams of passive income","description1":null,"description2":null,"description":"You can become more financially stable when you are “earning even as you sleep.” Some ways you can earn passive income are rent from property, royalties, interest earned from savings accounts, and percentages from sales made from your website. \n","optimizedContentImg":null,"optimizedContentImg1":null,"optimizedContentImg2":null,"optimizedContentImg3":null,"optimizedContentImg4":null,"message":null,"type":"component9","video":null},{"caption":null,"caption1":null,"caption2":null,"caption3":null,"caption4":null,"title1":null,"title2":null,"title":"Watch your credit","description1":null,"description2":null,"description":"If your mortgage request gets denied, poor credit may be the reason. So if you’re going the route of taking out a loan, make sure you have excellent credit. Pay your bills on time and keep your balances below 30 percent of your credit limit to prove to lenders that you are trustworthy and capable of paying them back.\n","optimizedContentImg":null,"optimizedContentImg1":null,"optimizedContentImg2":null,"optimizedContentImg3":null,"optimizedContentImg4":null,"message":null,"type":"component9","video":null},{"caption":null,"caption1":null,"caption2":null,"caption3":null,"caption4":null,"title1":null,"title2":null,"title":"List your non-negotiables","description1":null,"description2":null,"description":"You’ll most likely want everything on your first home wish list ticked off, but in reality, you need to be prepared to let go of some. So before you scout for properties, identify your non-negotiables. Some key considerations to think about are the property’s location, amenities, property type, property size, payment plan, and choosing a reputable real estate developer, among others.\n","optimizedContentImg":null,"optimizedContentImg1":null,"optimizedContentImg2":null,"optimizedContentImg3":null,"optimizedContentImg4":null,"message":null,"type":"component9","video":null},{"caption":null,"caption1":null,"caption2":null,"caption3":null,"caption4":null,"title1":null,"title2":null,"title":"Find the best housing plan for you ","description1":null,"description2":null,"description":"If you’re buying a home, you’ll likely purchase one via a home loan. The loan will determine the housing plan you will get, which will dictate the payment terms of your purchase. The payment plan has many factors, including the amortization (or the process of paying off a debt over a specific period of time in equal installments), the down payment (the amount you will pay upfront when buying a house), and the type of interest rate your loan will have, among others. In addition, the amortization period will also dictate the amount you will pay for the house overall (for instance, a 10-year payment plan will be cheaper in the long run compared to a 30-year amortization). You can get a home loan via your bank, through PAG-IBIG, or with the in-house financing directly from real estate developers. This is where all the preparation you made will come in, as home loan eligibility will depend on your income, credit history. the stability of your occupation or source of income, and the amount you can pay as down payment. While you may feel pressure to pay off your housing loan early, it’s best to choose a housing plan that is based on your current financial status. ","optimizedContentImg":null,"optimizedContentImg1":null,"optimizedContentImg2":null,"optimizedContentImg3":null,"optimizedContentImg4":null,"message":null,"type":"component9","video":null},{"caption":null,"caption1":null,"caption2":null,"caption3":null,"caption4":null,"title1":null,"title2":null,"title":"","description1":null,"description2":null,"description":"

Luckily, Avida has different payment promos and bank financing arrangements to assist you in financing your purchase. You may contact Avida brokers and property specialists to know more about their flexible payment plans and condominium projects nationwide that cater to specific lifestyle needs and financial capabilities. Avida’s properties are suited for young professionals, not just in terms of available financial options but also for its thoughtful consideration of your busy and purposeful lifestyle—with its proximity to shopping malls, restaurants, cafes, transportation hubs, entertainment hubs, and business and educational institutions. They are also near major thoroughfares and highways, equipped with sensible amenities and wide-open spaces within a secure community, and more. With Avida, owning a home before your 30s is #homepossible! Visit Avida’s official website and follow them on Facebook and Instagram for more information.

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