BEWISE
“Invest ina
developerwitha
proven track record.
All properties look
goodonpaper or
when showcasedas
amodel unit. But
oftentimes they
under-deliver, or
don’t deliver at all.
“Start small or
with something you
canafford. You can
always upgrade to
your dreamhouse
later on.”
–AldoAlmera,
real estate investor
GETMONEY-
SMART
“Put in thehighest
downpayment
you canmanage
— thebigger your
downpayment,
the smaller the
balanceyoupay
on your home
.
“Scout around
for the lowest
interest rate.
Scrutinize the
terms of payment
— thereare
promos, but check
if it’s fixed term (ie,
fiveyears).Or opt
for adeal that lets
youpaya lump
sumevery year
so you shrink your
balanceannually.
“Save, save,
save!Makea
sensiblebudget
and stick to it.
Avoidunnecessary
andextravagant
purchases.Make
sure your income
coversmonthly
amortization fees
plus electricity,
water, groceries
and some savings.”
–Mai Rodriguez
Morillo, TVnews
anchor
SWEATTHE
SMALLSTUFF
“Loveyour pets?
Get your developer
to signonapet
policy, which they
can changeat the
lastminute if it
pleases them.
“Check the
facilities, suchas
thepool, gym,
etc.Also check
theneighborhood
— is therea
supermarket,
hospital or
laundromat nearby?
Wouldyouhave
access topublic
transportationand
taxis?
“Are there
enoughelectrical
sockets? I swear, this
isa real concern.”
–MaggieAdan,
magazineeditor
TAKEYOUR
TIME
“Visit your potential
home several
times. Travel toand
from thehouse,
especiallyduring
rushhour. Itmay
beabeautiful
property, but if
it takes you two
hours toget home
inheavy traffic, it’s
notworth it.
“Take the
kids alongwhen
house-hunting.
Ask themhow
they feel about the
place. Sometimes
children see things
youmayhave
overlooked.
“Will this house
beyour forever
home?Picture
yourself as a senior
citizen living there.
If it’s a three-story
house, is therea
roomdownstairs
you can convert
intoabedroom?
Thatway you
won’t have to
climbflights of
stairswhen youget
older.”
–MiaFaustoCruz,
writer/editor
ASK,SEEK,
KNOCK
“Checkon the
after-sales service
of thedeveloper.
If the condo you
arebuying ispre-
selling, look into
existingproperties
of the company. It’s
important to see
how theymanage
thedailyneeds of
homeowners.
“Talk toother
homeowners. If
the condo you’re
considering
alreadyhas existing
residents, talk to
themduring your
viewing. They’re
most likely togive
candidanswers to
your questions.”
–LizzaGutierrez,
teacher/graphic
designer
Check
everything
—
twice!
MOREHELPONLINE
CHECK
OUT
FOR
LISTINGSANDHELPFUL
INFORMATIONONBUYINGREAL
PROPERTY INTHEPHILIPPINES.
TEXTAND INTERVIEWSBYMAYACALICACOLLINS
Fivehomeownersshare theirmostvaluable
adviceaboutbuyingahouse
Wordsofthewise
@
theprimer
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