There have been a lot of great developments in the
field of housing in the Philippines in the past few years. Gone are the days
when buying a house is only for those who hold executive positions in big
companies. Nowadays, the increase in the number of low-cost housing
developments has put this dream within reach of more people.
Aside from getting a condo in the Philippines,
many other people are buying low-cost housing units. For some people who prefer
Philippine properties that come with a lot or a land, these low-cost
housing developments are good options.
One of the common characteristics of these
low-cost housing developments is the use of precast materials which greatly
reduced cost of materials and labor. Aside from this, most low-cost housing
units are built as townhouse types where each unit, except for an end unit,
shares a wall with the adjacent units.
However, do not expect these units to have huge
floor and lot areas. The usual lot areas range from 35 to 60 square meters
while the usual floor areas range from as little as 25 square meters to as much
as 70 square meters. The usual price changes depending on the lot and floor
area, but you can now get these units for very low monthly amortizations.
If you are looking for a very affordable property
to purchase, these low-cost housing units are good options. Below are some tips
to help you when buying.
·
Visit the site. The
location of these developments is also a usual factor in the low price that
these properties have. Most low-cost housing developments are located in areas
where land prices are not that high. Hence, you will need to visit the site so
you can see for yourself the roads and areas leading to the development.
·
View an actual unit. Do
not settle for pictures, brochures, or small-scale model houses. Any reputable
developer should have some actual units that potential buyers can view. When
viewing an actual unit, check the workmanship carefully and clarify the condition
of the unit that will be turned over to you.
·
Make sure you have the
required documents and clarify amortization rates. These low-cost housing
developments are available for housing loan either through banks, the
developer, or Pag-Ibig fund. Clarify the requirements for each funding option
and most importantly, the amortization rates for each of them. This will help
you decide better on which option is best for you.
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