Category Archives: Real Estate Developers

Tips in buying House and Lot for Beginners

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Now you come to a point in your life where you have finished your university degree,landed in a dream job in one of the multinational companies operating in Cebu City. You married your girlfriend and in few months you are expecting your first child.

For the moment, you and your wife happy renting a flat. The place is clean and safe.
One jeepney ride is all it takes to go to malls, church and work. Small yet cozy.
Great for two persons to live in, but not for a small family you are expecting of having in a couple of
years to come.

Ever since its your dream to own a house in Cebu City. And now that you are about to have a small family
Your scanning ads on your local papers for house-for-sale hoping to stumble on a good deal. You’ve search
the internet for every house and lot for sale in Cebu City. You have visited house and lot exhibitions
in Malls only bombarded by real estate agents and brokers pushing you to buy their projects. Now you
have a variety of choices. You are now having a dilemma. You can’t
come up with a decision.

In that case you need a professional advice from a competent real estate professional. If you haven’t found
one yet then this article is a great help for you.

There are two main things to consider in choosing the right house and lot for your family.

First, determine your family’s need. You have to consider your own need, your wife’s need and your soon
child’s need. The family’s need in general might be a three bedroom house. A house with masters bedroom,
one guest room, and another bedroom for your baby plus a maids quarter. A car garage for your new car.
Security and amenities. And a steady supply of water and power supply.

Now list the family members needs. You might want a house not far from the office to save gas and travel time.
Your wife might need a house accessible by public transport. And where markets are at a reasonable
distance. For your child, a school within a reasonable distance too. These are just some that the family
members needs. You can come up with more.

Second, consider your capacity to pay.You won’t be buying house and lot that is way out of budget, that is
just absurd. Decide on how much money you can afford to spend for your monthly amortization. Then find
house and lot for sale that fall in that price range. Cebu city holds a variety of house and lot
for sale, from mansions for ultra rich and low-cost housing for minimum waged employees.If you opt for bank
financing asks advice from your bank. Your bank will gladly give you advice on financing terms because
this means business to them. For low earners bank financing is not an option because of its high monthly
amortization. Good thing there is Home Development Fund (HDMF) or Pag-Ibig Fund which has accredited
developer that offers houses with monthly amortization as low as seven to ten thousand pesos.

After you have assessed your needs and financial capacity, its time to make necessary adjustments.You can
now go back you your searches of house and lot, look on the specs and the prices.By this time you already
have a criteria in making a choice.

For most people buying house and lot is the biggest investment they can make in their life. So choose
the best for yourself and your family by following these tips.