All our hard work needs to go somewhere, right? We don’t wake up early to go to work, only to go back to sleep in exhaustion for nothing. For many people across the country, “work hard, play hard” means reaching your dreams—like investing in your first home or property.

But the big question continues to haunt everyone: when should one invest in a property? And is there a right time to do so? Do you need to be young to maximize returns fully, or should you sit tight and wait for life to become a little more stable?

We hear you—we also want to know where our money should go! So, we’ve scoured sources and compiled them into this quick guide:

Does the Right Age for Real Estate Exist?

The straight answer is no! Whether you’re a young professional just gaining a steady foot in your career or a to-be parent, the right time for real estate is whenever you’re ready. You don’t have to reach a certain age to purchase your house, lot, or condominium. 

Becoming a property or homeowner is a significant investment, so the right time is when you’re financially stable. That can come early in your career or later in life when you have a family. 

But before you begin searching for tips on how to purchase your first home, it’s essential to dig deeper into factors that can affect your investment. Here are some benefits to consider:

If you want to buy your first home while you’re young

As long as you have the resources to invest significant sums in your dreamy modern condo or traditional townhouse, here are some benefits you can enjoy: 

• You enjoy price appreciation. Real estate is one of the best investments you can add to your wealth portfolio. Renovating, renting out, and even selling your property will help your financial standing grow in the long run. 

• You get the privilege of having a place you can call your own: Once you own a house, you’re the boss. You can paint the walls to your liking, purchase furniture that suits your style, and design everything as you wish! You don’t need permission—unless it has something to do with community rules!

If you want to wait a little longer

If you don’t feel ready just yet, remember that it’s perfectly okay to slow down. Waiting before purchasing your first home can be a strategic move, especially since the entire home-buying process can be exhausting. It takes time, money, and of course, emotional energy. 

That said, here are some benefits you can enjoy should you choose to wait:

• You’ll invest with a better financial standing. You earn more when you get older, thanks to better career prospects. As you take on higher-income roles, you also gain access to salaries you can use to save up for the down payment, build credit, and even take out a loan. All these can help you afford your dream home!

• You step into a new life chapter with more certainty. While we never know what’s waiting for us tomorrow, wisdom comes with age. And this means learning to prioritize what’s best for you. You can focus on your career, location, family, and debt, which play a crucial role in property investment.

Preparing for Your First Property

Starting young or waiting? Doesn’t matter! Preparation is key when learning how to buy a house as a first-time buyer. Buying a home can benefit you no matter your age, so long as you invest in the right conditions. And in truth, the right conditions mean financial stability. 

You may want to dive a little deeper into your finances, which should include your credit history. This includes looking into credit card debt, existing loans, and even your investment and savings accounts. Doing so can help you determine if you’re ready to make monthly payments, as well as afford the down payment.

As a future homeowner, you also need to have enough wiggle room for recurring expenses. Purchasing a home is one thing, but maintaining it is another story. 

There’s more to it than just finding the right couch for the living room or designing a condominium space with the latest trends. There will be property taxes, unpcredented repair costs, and of course, utility bills!

Simply put, being a homeowner is another full-time job. It can be expensive, exhausting, and at times, frustrating. But anticipating what this life entails can help you prepare better—and do better. 

What to Do If You’re Still Unsure 

Dipping your toes into real estate isn’t an easy task. And when you’re dripping with anxiety, know that you’re not alone! You can easily get help from local experts who can help you explore your options, current life standing, and ways you can move forward:

• Real estate agents. These people can help point you in the right direction. Whether you’re looking for the right location or the type of home that best suits your lifestyle, they’re there for a reason!

• Lending companies. If you’re worried about finances, the right lending companies can help dispel your fears. Government-funded agencies like the Pag-IBIG Fund offer good home loan rates. Private banks can also help make your dream property purchase happen. So, don’t be afraid to shop around and ask.

Apart from these experts, you’re also free to research! Researching allows you to make well-informed decisions about your needs. You can:

• Search for potential neighborhoods you want to settle down in, which includes proximity to malls, transportation hubs, schools, and other amenities.
• Look for user-generated reviews and insights on certain developers.
• Gather tips and tricks from current homeowners on renovations and purchase recommendations.
• Discover potential pitfalls that can affect your home-buying journey, allowing you to circumvent them before happening.

The Takeaway

Investing in your first home is a decision you should never take lightly. It entails responsibility, which isn’t something that can ba answered by age alone. Whether you want to invest young or wait until you’re older, homeownership is a one-time deal. 

The right time shouldn’t be dictated by your age—it should follow when you know you’re ready for it. There are pros and cons to buying a property, and the only thing you can do is to prepare. Due diligence is prerequisite to taking the big property leap!

Still want to learn more before purchasing your first home? Housify has you covered! Browse through our tips, tricks, and other goodies.