Feb 19, 2014

Property Buying Tips for the Elderly

Many real estate sellers often target younger generation when offering properties – to newly married couples, young professionals, and big families, among others. Elderly people are not usual targets of these brokers and sellers simply because they often already have properties and they have no need for another one.

However, every accomplished elderly person knows that their needs have changed over the years and investing in more Philippine real estate properties is not a bad thing. There are many possible reasons why an elderly person would want to buy a Philippine property. If you are one of these elderly people or know an elderly person who is looking for a property to buy, below are some tips to help you.

  • Be specific about your needs. Before looking for a property to buy, you have to be specific about the type of property that you are interested in buying. Do you want something simply as a real estate investment or do you plan to use the property? Are you interested in something that can accommodate your bigger family during special occasions or do you need something less spacious for you to move around in? Thinking about these and being specific with what you want and what you need will help make it easy for you to find what you’re looking for.
  • Be particular about the location. Even if you really like a beautiful property, it is not a reasonable purchase if it is hours away from the nearest hospital or your nearest kin.  If you plan to reside in the property you will buy, it is very important that you have quick and easy access to a hospital or one of your relatives. This becomes even more important if you have a serious health condition such as hypertension or heart problem.
  • Be particular about the structure and features. View and inspect the property that you want to buy. Is it equipped to handle wheelchairs? You may not be using one now buy you do not know whether you might have a need for it in the future. Are cabinets, cupboards, shelves, and the like inside the house easily reachable for you? Does it have long flights of stairs? Does it have space where you can relax and unwind? Try to imagine yourself inside the property, going about your day to day activities; make sure that everything is easy and convenient for you.
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