Tuesday, January 28, 2014

First-Time Homebuyers: Four (4) Reasons Why You Should Build A House In A Rural Area

Purchasing a house requires a lot of consideration and planning. As it is one of the biggest decisions you can make in your lifetime, it can very well affect the way you live your life in the future and the manner in which you manage your finances. Needless to say, it is best to be prepared especially if you are an aspiring first-time homebuyer.

Why Should You Build A House In A Rural Area
One of the things to think about in homeownership is the location of your residence. You can either choose to live in the city where the center of activities usually takes place or somewhere in the country where peace and tranquility is much more guaranteed.

Here are the top reasons why you should have a Philippine property in a rural area.

1.       It’s quiet. 
·        Noise. You will not be bothered by your surroundings ranging from cars going by or horns being honked to close neighbors playing loud music or children shouting in the streets while on play.
·        Distraction. You can focus on what you need to do especially if your work requires solitude – i.e. if you write, draw or paint for a living.
·        Privacy. Since your premises are larger and your neighbors are sometimes quite far from your place, you can relax and enjoy private moments in the front yard or garden anytime you want. 

2.       Life is simple.
·        Nature. You are in paradise. You can appreciate nature simply by looking out to your window. You can breathe fresh air as soon as you walk out of your door.
·        Schedules, Demands and Stress. You can take everything in a stride without worrying about deadlines and rush hour traffic or keeping up with a fast-paced environment in which you are required to earn five-figure salary just so you can live comfortably. You can be more optimistic about the future. You will have the opportunity to explore what really matters to you.

3.       It is less congested.
·        Population. You can easily recognize the people around you as you are bound to meet them regularly in the market or local store.
·        Crime rates. Unlike in the metro where strangers come and go all the time, it is certainly safer to live here as people instantly know who’s new in town. 

4.       It’s cheaper.
·        Cost of Homeownership. Compared to the urban homes in the Philippines, rural ones offer lands and houses at a lower price.
·        Cost of Living. From food to water and electrical bills, everything is less expensive.

Tuesday, January 14, 2014

First-Time Homebuyers: Four (4) New Year’s Resolutions For Aspiring First-Time Homebuyers

Creating New Year’s Resolutions is a popular Filipino tradition. It basically comprises of making a promise to oneself to start doing something good or stop doing something bad on the first day of the year.

How To Start The New Year As An Aspiring First-time Homebuyer

If you are one of those who aim to buy your first house in the year 2014, this guide will help you jumpstart your plans to do so. Read on and learn how to follow through each item so that your resolutions will be fulfilled before 2014 ends.

1.       Begin saving up. Purchasing a property requires money. Most of it you can get from loans and mortgages, true, but you still need cash for down payment, closing costs and monthly expenses. The down payment rate varies from as little as 5% to as high as 25% depending on the seller. Thus, it’s only practical to cut down unnecessary expenses. If you are used to going out of town every summer and spending thousands of pesos flying first-class, opt for somewhere near where you only have to drive for a couple of hours the most. Start saving 10 to 25% of your compensation every month. If your schedule permits, find an additional source of income.

2.       Research on the top alternatives where you can get housing loans. Does your bank offer such? What do they need from the applicants? How about government institutions? Have you made enough contributions to qualify for their loan requirements? Begin compiling info and work towards applying for the best avenue possible. Got credit card debts? Settle it ASAP. Make sure that they will not have a reason to reject your application when the right time comes. List down one goal for each month that passes by. This is a great way to align your goal with your vision.

3.       Search for realtors around your area. Who are the most reputable agencies in the Philippinereal estate industry? Check out their websites as well as the newspapers for latest news and updates. Know their standings and study testimonials from recent clients. Do they have recommendations and were they given awards lately? Set a target date to finalize your choices.

4.       Browse for your dream home. Look for PH properties for sale in your target city or province. Will you go for a family home, villa or condo? Get their listing prices so you’ll have an idea on the what-nots. Depending on your preference, ensure that you explore at least one house-type online, features and all, once a week.