Affordable Yet Looks Expensive, A Filipino’s Dream Home Came True

11:58 PM james abram 0 Comments


Who would have thought that a house built on a 13 square meters lot is possible? Maybe others might think that houses built on a lot this size can only cater shanties, dog houses or small storage rooms for old stocked items but no it can also be utilized for building a small house. It might not be that big but it can be valuable to anybody looking for an affordable yet decent home.

One great sample of achieving this feat is a Filipino Architect Vina Lustado. Vina was a Filipina born in the Philippines whose family migrated to the US. Their first year in the US was difficult one, with a family of 10 members they managed to stay in a one-bedroom duplex. But this scenario did not stop Vina from pursuing her dream. She studied industriously and finally and graduated an architecture degree at University of Southern California in 1991.


After years of working hard for big architectural firms, she finally built a business of her own in 2010 which led her to build a small house with energy efficient functionalities.  

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5 Comparison Factors: Condominium vs House and Lot

10:34 PM james abram 0 Comments

Last week, my cousin just got off the ship and is planning to buy a property for his family. He’s a seaman with a family of 4 and is earning a salary that can give a comfortable life for them. At the moment, they are just renting out on a simple apartment with basic amenities that’s why they are planning to invest on an affordable property which they can use efficiently and they can call their own.

They are currently having problem deciding if they should buy a condo or a house and lot in the Philippines which prompted me to do a little research for them and here’s what I’ve found which I know that can help them:

Cost

Cost wise, if both condos and house and lot are located in the same area, condos always are cheaper.  Although, condos are introduced as luxurious living marketing wise, they are still more affordable than houses.

According to an article I’ve read over the internet, reliable developers even sell condo units below P1million pesos which is a way cheaper to an entry-level single-attached house located within Metro Manila which is prices go from 1.5million to P3million which could go as high as P22 million to P28 million for high end houses.

Location

Location wise, condominiums are built with greater locations. Given a place like Metro Manila where  development areas are congested, condominiums is a more practical option given that they can be built vertically which requires less space.

Convenience

If you need to be close on your workplace, living in a condo must be the right one for you. Condos are usually built just beside business districts which enables you to take advantage of less travel time and less transportation expenses.

Amenities

For those living in condos, recreational areas like pools, playgrounds, basketball court, tennis court, function rooms and gyms are always available for the homeowners. These amenities can also be available on high end house and lot for sale in the Philippines.

Space

In terms of space to move on, house and lot offers you a lot more freedom in terms of area. You don’t share ownership with others which gives you the freedom of doing all the things that you want to put in your backyard.

For condos, its life span would be only good for 50 years which is contradictory of buying a house. Once fully paid, it’s all yours.

Flood Management

Living on Condos might pose an advantage with this. Unlike horizontal developments where the risk of floods are higher, condos are rarely affected by floods.

Thanks for reading my post! For condos or house and lot for sale in the Philippines, visit Vistaland International’s site.

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4 Mistakes Real Estate Investors Should Avoid

12:55 AM james abram 0 Comments

Buying and selling affordable house and lot in the Philippines is a good way to make money but it won’t be easy that’s why avoiding some mistakes might save you in the long run.

These are the 5 mistakes real estate investors should avoid:

Lack of Research

When buying gadgets what we usually ask for are the models, its features and its advantages from other models. Ask a lot of questions and try to determine whether purchasing it is worth the money. This is what should be done when buying a property but a more strict due diligence should be observed.

Questions that you need to ask when buying a house:
  • Is the property built in the vicinity of a commercial site, or will long-term construction be occurring in the near future?
  • Does the property reside in a flood zone or in a problematic area? Such as ones known for termite problems?
  • Does the house have foundation or permit "issues"? What is new in the house and what must be replaced?
  • Why is the homeowner selling?
  • What did he or she pay for the home and when?
  • If you are moving into a new town, are there any problem areas in town?
Abysmal Financing

When buying a house, many are unaware that they are choosing the wrong financial option of buying their house. Many buyers tend to buy variable loans where they eventually pay the price when interest rates rise. Buyers should make sure that they have the financial flexibility to make the payments if the rates go up. Nonetheless, if they are not flexible income to pay the rates, they should go with a fixed-rate mortgage.  



Being a Know It All

Many buyers think that they know it all because they have closed a real estate deal in the past. Though it went smoothly in the past, there is no assurance that future deals can be successful too.
As a real estate investor, you should befriend experts that can help you make the right purchase. Experts that you should have should be, real estate agent, a home inspector, a handyman, a good attorney and an insurance representative. These experts would be a great help in case problems arise.

Overpaying

Finding the right house that will suit your needs is really very frustrating. The problem here is when a house that meets your needs come, you are pressured to buy a house that you think is the right one. Because of this you tend to be anxious that your dream house would be bought by others. With too much emotion about the house you like, you tend to overpay and end up buying a house that is not on your budget.

To avoid overpaying, what you should focus is on researching homes that you like and its comparison with the others of its kind. Do not rush on buying your dream house.
Mixing your buying decision with emotion is very dangerous. Relax and be patient on finding the right house for you.

For affordable house and lot in the Philippines, visit Vistaland International’s site here http://www.vistalandinternational.com/.

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3 Things You Need to Turn Your House into a Wonderful Hangout Place

6:19 PM james abram 0 Comments

affordable house and lot in the philippines-bahay kubo
source: myphilippineslife.com
When I was in college, our classes schedule usually goes from 8am to 7pm where 3 to 5 hour breaks are usually in between. 5 hours are long which make my friends think of going somewhere else’s house near our school. This is a good time to study and also to bond with your friends. Since, our house is the nearest one in our school it became the official hangout place of the group and because of this experience, I thought that it’s good to write an article about it.


So, to make your house the best hangout place ever, here are the things that you should consider:

Recreational Areas

A good long hour break would never be complete without recreational areas. For me, the best part of this time while I was in school is playing basketball under the sun. For a 3 hour break, we usually play for an hour and rest the remaining two hours before going back to school.

For recreational activities, since I love sports, I think choosing your house near a basketball or tennis court would be good. Or at least, if you do not have an option, you can buy a table tennis table, a pair of racket and a ball for small spaced areas.  

Good Seating/Resting Areas

If you want your classmates to have the best stay for long hour breaks, you should consider putting up good seating areas for the group. This is vital to this list because one of the reasons why you are going to your classmates house is to rest or sometimes it is the time where friends bond, exchange good stories and also review  about the past lessons that they need to study.

As for my experience, a good resting area is a house with a landscaped garden with a “Nippa hut” or “bahay kubo” on it. There, some of us sleep, study or just sit and relax telling stories about our day.

Food

If you will invite your friends to stay on your house, you should have ample amount of food that can be eaten for long hours of waiting. For food, I usually prepare them simple meals like “Pancit Canton” complemented with bread good for 10. For our drinks, they enjoyed a pitcher of iced tea or even just cold water would do.

So, this is it! I hope you liked this post!

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5 Simple Ways on How to Buy a House and Lot in the Philippines

10:20 PM james abram 2 Comments

Upon graduation, my plan is to land a job in the Philippines, gain some experience and find a job outside of the country that gives a bigger compensation. Well, that was my plan 4 years ago, I’m still working here in the Philippines I have saved a few money and I was thinking to buy an affordable house and lot in thePhilippines that will serve as an investment and an output of my hard work. Me and my office buddy are thinking the same and I would like to share to you some of the learning I gained from this house and lot buying experience.

Ways on how to buy affordable house and lot in the Philippines:

Set up your Criteria in Buying

Why are you buying the property? Who is it for? Is it for commercial or for residential use? What do you prefer a condo or a house and lot? Where do you plan to buy a property? How much is your budget?
Answer all of these questions seriously. After answering all of these, I think you will now be ready to get on the next step. It will narrow down all your choices suitable for your specifications.

Go on a Window Shopping

Now that you already know what you need to look for in a house, search for developers that are already constructing houses in your area. Create a list which states the property developer, location, the house and lot model, specifications of the house and its contact number.

Inspect the property with a Real Estate Agent

 After creating the list, rank the top properties that you prefer to buy and have an inspection. If you have a contact person or an agent that can accompany you while you are having a tour on their house models, do contact them and tell them when are you planning to have a visit. Create a checklist of questions that you wanted to ask about the property.

In your questions, you might want to include the following:


  • How much will be down payment?
  • Is the DP will be paid little by little or is it required to pay it in full?
  •  How much is the monthly amortization?
  • What are the modes of payment? (Bank, in-house or PAGIBIG)
  • When will the house be available for occupancy?
  • Ask a computation sample.

Pay the Reservation Fee

If you already have a breakdown of expenses which includes the total contract price, down payment, reservation, monthly deposit, transfer and miscellaneous fees which are all clear to you, you can now pay for a reservation fee.

Complete the Requirements

The requirements will depend on your chosen payment scheme.

For PAGIBIG, these are the minimum requirements:


  • Fully accomplished home loan application form
  • Photocopy of government issued IDs
  • Community Tax Certificate
  • Tax Identification Number
  • Certificate of Employment
  • Latest 3 month payslips
  

These are the 5 simple ways of buying a house in the Philippines. Thanks for reading my post!


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4 Amazing House and Lot Renovations to Increase Property Value

2:00 AM james abram 0 Comments


 If you are looking for a business that earns big profits instantly, buying and selling house and lot is worth a try. I know some individuals who started to accumulate their fortune by doing this business that’s why it has been my dream to be involved in this business someday. Though it’s a very expensive business to start, having the right attitude, proper mindset and proper planning can still get the job done.

So if you are like me, who wants to start to buy and sell house and lot in the Philippines, here are the things that you can do to increase the value of your property:


Basic Updates/Renovations

This is the most important upgrade to start with. Typically, as a buyer one of your main questions are the basic things like: Is the roof leaking? Does the house look good? Is it properly painted? Is the wood still sturdy enough? Does it need replacement? Are there termites that should be treated? Are the pipes in a good condition? Are the wiring still safe for use? We all know that buyers want a healthy, safe home that can be lived with the most minimal maintenance. Addressing these problems earlier, will help you increase or at least maintain your house’s value over time and save money.

Create Space

Houses with a wide open floor plan are attractive for buyers. Maximize the current space that you have to add additional space inside the house. If you have an attic, present it as an additional work area, study room, bed room, family room or even a library.
Also, under-utilized spaces like under stairways spaces can be converted into storage spaces for shoes, bags or even kitchen supplies.

Upgrade your Bathroom and Kitchen

In the US, almost all brokers agree that enhancing your kitchen and bathroom is good way of increasing your house’s value.
For the bathroom, replace old, dripping and rust faucets, clean the grout, change the seat cover, replace or repair the non-working flush, paint the cabinets and clean everything as if it would look as new as possible.
For the kitchen, repaint or re-varnish kitchen cabinets, clean or paint the walls, replace old faucets and make sure that the pipes do not have leaks.  

Outdoor Upgrades
The façade of a house is the most important upgrade here. If you will put yourself on a buyer’s position, the front door or the façade is the first thing that you will notice. Before putting your house on sale, make sure that everything outside the house looks good and ready for selling. Make it look like that the house looks vibrant and inviting.

For a vibrant and inviting house, you can do the following:

  1.  Replace the front door if needed, if not repaint or re-varnish it. You can also consider repaint jobs on your front gate.
  2.  Make sure that the lights and door bell outside the house is working.
  3.   Invest on landscape. If you have a garden outside, make sure that the trees, plants, mini pond looks desirable.
  4. Doing these things will greatly increase the appeal of your house to potential buyers. With a properly maintained house, everything will be in place. You will sell your house instantly at a high reasonable price. 


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5 Things to Ponder Before Buying House and Lot in the Philippines

11:50 PM james abram 1 Comments

While walking inside a mall, I was given a flyer that sells an affordable house and lot in the Philippines. It was really a good deal to purchase one because of its low down payment and low amortization values.

Since it has a very low monthly amortization, I was thinking that it will be a good business if I will be renting it on a price slightly higher than I’m paying for it. I’m also thinking that it will never run out of occupants because it has really a good location. It stays just behind a big shopping mall where there are many employees working in it.

I wanted to purchase it immediately thinking that someone would buy the limited slots offered but before making that big decision, I sought the help of my father. I asked him if I should purchase the house. He said yes, but I should consider some few important things before deciding.

Things to Consider before Buying House and Lot in the Philippines:

Basic Property Knowledge

Before buying any property, it is good to have a basic idea about its prices considering its location. This will help you a lot in negotiating the price of the property you’ll be buying.
Also, it is advisable to know the basic steps of paperwork processes of buying a property. Doing the basic paperwork processes wrong will only lead you to problems such as penalties, lacking documents and improper or incorrect registrations that will just pose problems in the future.

Savings

After knowing the price of the property on that location, you roughly now know whether you should purchase the house in full payment or you need to get a loan from house loan agencies like PAGIBIG fund.

Budget

If you are now decided that you’ll be acquiring a house loan, planning on your budget should be your next step. Assess how much money you are earning for a month. Deduct the monthly amortization in your earnings and budget the remaining money on your savings, food, transportation, kids, allowance, health, etc.

Financial Management Skills

Since you are paying a regular monthly amortization for a long time, you need to be accountable for all unnecessary expenses. If you have an outstanding debt, eliminate it first. Avoid using credit cards and live a life beyond your means. Failing to pay monthly amortizations will lead to your property be foreclosed by the house loan agency. Have a clear mind on separating needs from wants.

Emotional Readiness

Are you staying in the house for 10 years or longer? Or are you planning to use it for just a year because of your children’s studies? Will you be renting it or not? If you will be using it in the long run, maybe it is advisable to buy a house. For renting purposes, maybe you can consider to rent out a condo.

Thanks for reading my post! If you are already decided to buy a house, maybe you can consider buying one from Vistaland International.

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