Tuesday, July 30, 2013

First-Time Homebuyers: Three (3) Things Every First-Time Homebuyers Should Know

Acquiring your first home is a big responsibility. The most fundamental step is to educate yourself so there would be no room for regrets later on. After all, purchasing a property is not as simple as shopping for clothes, shoes or gadgets. There are a lot at stake here hence you should be careful when you start the process. Below is a short checklist for first-time homebuyers. Be aware of the basics so you will not be overwhelmed with the technical aspects that go along with it.
Here are three (3) basic things to guide you.

1.       Market Prices. Learn that there are a lot of factors that affect pricing – size, condition, neighborhood and amenities. For instance, a Makati condo may be more expensive than a condo in Manila. On the same note, a 400-square-meter two-storey house in Liliw, Laguna may be cheaper than a 100-square-meter flat in Quezon City. Understand too that they tend to go up and down. Its value may fluctuate over time. This means that your future residence could be worth less than what you pay for it now, given two-to-three-years-time. The bottom line therefore is – just because the offer is good doesn’t mean that you have to grab it right there and then. Weigh your options and do a thorough research first.

2.        Proof of income and assets. One of the documents you need to prepare is the evidence that you are capable to pay for the real estate that you’re eyeing to buy. This mainly comprises your annual income summary and investment portfolio statements. Others include pay stubs, bank and asset records. These items are necessary when you meet your banker or mortgage broker. Getting them ready might take some time because you need to ensure that they would pass their critical eyes. In this regard, do not apply for credit before buying.

3.       Basic Rates and Expenses. The cost of owning a home is always more than the purchase price. There’s the mortgage payment, the regular fees paid monthly such as insurance and property taxes not to mention what you’ll spend for utilities and maintenance. Thus, one of the best practices is to reserve enough cash for home improvements. In terms of down payment, know that they are normally within 20%. The percentage you pay for mortgage differs depending on the area where the land is located. Check the locality’s rate table to avoid being overpriced.


Wednesday, July 10, 2013

NUVALI Short Film Competition

Open to all Filipino students and amateur film makers.

Registration period - July 20 to August 30, 2013

For the application forms and full mechanics visit http://nuvali.ph/events/nucinema

The Top 15 Film entries will be premiered on a gala at the NUVALI Night Sky Cinema on October 26, 2013

The Top 5 winning film entries will be given a one 1-year scholarship grant from the Asia Pacific Film Institute and also featured in selected Ayala cinemas.