Tip #1: Budget. Knowing your budget is very important in order to have great savings on your house purchase and to sustain monthly amortizations until you are fully paid if you acquire through a housing loan. It is definitely a waste of money and resources if after years of paying, you ended up losing your house and lot due to foreclosure without proper guide or lack of information. "Home is the place where, when you have to go there, they have to take you in." (Robert Frost). However, if you are renting and not paying your monthly dues or amortizations, you might end up nowhere. Therefore, choose one that best suits your budget.
Tip #2: Pre-selling house units are much cheaper than ready for occupancy (RFO) house units. If you are not in a hurry to move into your new home, go for pre-selling; however, if you are in immediate need of a shelter, ready for occupancy suits your need. We have both pre-selling and ready for for occupancy (RFO) house units for you.
Tip #3: Bare type house units are also much cheaper than complete type. Bare type house units are livable. The house interior usually has plain cement flooring and wall without ceiling and partitions of rooms. A complete type house unit may be furnished or semi-furnished. No extra money is needed to improve the house interior because the flooring has tiles (usually ceramics ground floor and vinyl second floor), painted wall and with painted ceiling. For semi-complete, flooring has no tiles but painted interior wall and ceiling.
If your budget now is ideal for a bare type, don't worry, you can have house improvement if you have extra moneybased on how you want your house interior looks like. If your can afford for complete type, then go for it.
Tip #4: Location. Most house units that are near Metro Manila, vital establishments like malls or commercial centers are priced much higher than those farther from them. A good example are house units located within Bacoor and Imus, Cavite which have closer proximity to Metro Manila. House and lot prices are generally higher as compared to those located in Dasmarinas, Naic, Gen. Trias, or Trece Martires City which are just a few kilometers away.
With a P2.8M townhouse located within Metro Manila, you can buy a semi-furnished single attached or detached house within Imus or Bacoor or a furnished single detached house unit located within Dasmarinas, Gen. Trias, Trece Martires with more than 100 sqm lot areas. The good thing is that most house units located in those areas farther from main business centers are accessible so transportation is not a problem.
Tip #5: Payment Options. If you have money, the best deal is to buy in spot cash to enjoy great savings through discounts. Another option is deferred cash offered by developers with 0% interest up to 2 years. This will save you on interests paying for a number of years. If you plan to buy through a housing loan, choose a payment option or term based on your paying capacity. This will save you from interests especially on delayed payments. If you can pay for 10 years, then go for it rather than paying for 20 or 30 years. If you choose 30 years to pay and in succeeding years, you have money, you can shorten it.
Tip #6: Some developers conduct open house. During open house sales, there are certain discounts offered like discount on reservation fee, discount on selling price, etc.
Tip #7: Always check for other fees if any apart from the Total Contract Price. The difference between a selling price and total contract price is that selling price refers to the actual cost of the house and lot unit while the total contract price refers to the selling price plus other fees or charges like miscellaneous, legal, or processing fees. Other fees that usually accompany the computation of monthly amortizations are MRI and fire insurance. The purpose of this is to secure your properly.
Some developers require move-in fee which usually covers water, MERALCO, initial home owners' association fee, etc. Other fees are land/building tax and title transfer fee. There are some developers that have no move-in fee and FREE title transfer fee. Others include in the miscellaneous fees.
These practical tips serve as a guide especially for first time or new buyers.
Visit our site for your housing needs.