Diarynigracia Says, OFW Journey, Philippines
What to consider in buying a home
Having a home to call their own may be among the top 5 dreams of most Overseas Filipino Workers (OFWs). Many of them are either renting a place to live or have been staying with in laws or relatives for the longest time.
Renting a house to stay gives you the monthly responsibility of rental bill that may possibly increase to a certain percent every 2 years or worst, every year! There are good landlords / landladies as there are also some who are difficult to get along with. No matter how good the environment is or how good your landlord / landlady is, the house will never be yours and you can never call it your own home.
Many real estate developers offer reasonably priced housing through legal coordination with Pag ibig Housing government agency in the Philippines. Many people pay rent for many years failing to realize that with monthly rental, they also can pay for the mortgage of a housing loan. It is possible to shell out a partial payment first, then move in while paying the monthly amortization for a minimum of 5 years or more.
But before finally committing to a real estate broker, carefully consider these points when buying a home;
1. Check your financial capability and responsibility. There may be sacrifices along the way but having a home will be all worth everything.
2. Safe and peaceful surroundings.
3. Accessibility to work, school, church, market place or supermarket and town center.
4. Less risk of flood during rainy season as our country, the Philippines has only 2 distinct seasons; wet and dry seasons.
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A multi-award-winning blogger and advocate for OFWs and investment literacy; recipient of the Mass Media Advocacy Award, Philippine Expat Blog Award, and Most Outstanding Balikbayan Award. Her first book, The Global Filipino Bloggers OFW Edition, was launched at the Philippine Embassy in Kuwait. A certified Registered Financial Planner of the Philippines specializing in the Stock Market. A recognized author of the National Book Development Board of the Philippines. Co-founder of Teachers Specialist Organization in Kuwait (TSOK) and Filipino Bloggers in Kuwait (FBK). An international member of writing and poetry. Published more than 10 books. Read more: About DiaryNiGracia
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Great tips, and yeah who wants to live in a place where it usually get flooded. hehe 🙂
I say “sayang” if you have been renting a house since time immemorial. Better pay for a rent to own house or start saving up for it. There’s clearly no investment in renting a place.
make sure also to have full background knowledge regarding the subdivision developers to ensure you will not waste your hard earned money..
One of the reasons why I applied to work overseas aside from my children’s education, I hope to have one the soonest. Thanks for the tips.
Awesome tips for people who don’t own a house yet and are looking into it. We are fortunate enough to our own house already, hope everyone get theirs too!