Misconceptions that Hinder People from Buying a House

Kapag may mga nami-meet akong mga kababayan natin na matagal na sa NZ (5 years or more) pero til now nag-re-rent pa rin, hindi ko maiwasan na magtaka at tanungin sila kung bakit. Pano kasi ako ang naghihinayang sa opportunity na nasasayang. Considering that I know people who receive lesser salary than them were able to buy a house within just a year or two. I even know a couple, who owns not one, but three houses! The other two, pinare-rent niya. And both husband and wife, they don’t have high paying jobs.

Nakakapanghinayang, kasi every year, tumataas ang halaga ng mga properties sa NZ. Some keep waiting for the right time to buy a house, thinking that they’ll be in a better position to do so in the future. But that time never comes.

So when is the best time to buy a house? Tanong ko dun sa real-estate agent namin. Sagot niya, there is no best time, because the best time is NOW. Actually, second best time lang ang NOW. The best time was yesterday or years ago. But yesterday is past, tapos na, kaya tama rin siya.

Talking to our kababayans who told me that they actually wanted to buy a house for a long time but still haven’t, I’ve found out that the real problem is less to do with financial but more to do with their somewhat flawed way of thinking. May dalawang misconceptions silang pinaniniwalaan na aking napansin that hinders them from taking their first step towards buying a house.

Una, the belief that “You will live in the house that you buy for a loooooong time”. Pangmatagalan. In our country this is so true. Once you buy a house, expect to live there for as long as you live. If this is your thinking it's hard to be satisfied with buying a house that is less than your dream house. Gusto mo siempre perfect, kasi sa isip mo pangmatagalan eh. However, you should know that in NZ, it’s not uncommon for Kiwis to buy and sell their houses every 3 to 6 years. Therefore my advice is instead of thinking that the house you’re buying is for the rest of your life, think of it as just a temporary residence for the next 3-5 years. This way it doesn’t matter if the house you buy isn’t your dream house yet. For now, be content in buying a 2BR house. After 3 years, move into a 3BR house in a better suburb. After another 3 years, move into a 5BR house by the beach. That's how you get to own your dream house. One step at a time. (Tama ba fafa KD?)

Pangalawa, the belief that “You have to stay/live in the house that you buy”. Forget about this. Just because you bought a house doesn’t mean that you have to live in that house. Usually, if you are renting a flat and decide to buy a house, your first objective is to look for a house to live in. That's ideal, but may not always be feasible yet. The houses you want to buy in the areas you prefer may be priced beyond your reach.

If you can't afford the houses in the suburb you prefer, heto ang gawin mong diskarte. Buy a house or property that you can afford now, kahit sa malayong lugar. Tapos ipa-rent mo. Yourself, dun ka pa rin tumira sa flat na ni-rerent mo. Okay lang yon. Then after a few years, when house prices have appreciated, sell the property. If you keep doing this, you would have accumulated enough equity/cash to buy the house in the suburb that you want for yourself. I assure you that you will be in a better position if you do this than if you simply waited and put your savings in the bank. Ask yourself, are you able to save $20k in a year? I don't think so. But with buying and selling a property, there is a greater chance that you'll get that much money and even more.

Owning a house/property in NZ, one must not think of it as wishful thinking. It is very achievable, even on your first year in NZ. In fact, once you’ve done it once, masasabi mo, “ganun lang pala kadali”. Buying your second, third, fourth house? Mas lalo pang madali.