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Calamba Park Place

    5 Key Steps to Investing in a House in the Philippines

    Buying a house requires a lot of time and effort, but these 5 key steps can help make the home buying process manageable and help you make the best decisions possible.

    Step# 1: Research

    Let technology do the work, type into your search engine “House for Sale in (Preferred Location)” and begin reading real estate websites that have property listings. Make a note of a particular house that you are interested in and message the seller for the details. Also note the following

    Price

    Location

    Size of the house(floor area)

    Financing terms.

    This will give you a sense of the housing trends in your preferred area.

    Step# 2: Determine Your Investment Amount

    Use this simple formula to compute your Investment Amount

    Monthly Amortization Divided by  0.30

    For example, you determined to allocate 4,500 each month of your income. If we apply above formula, then you must have a gross monthly income of 15,000 in order to set aside 30% for the monthly house payments. The remaining 70% goes to taxes, food, transportation and other daily expenses. Lenders refer to this as Net Disposable Income which is equivalent to 30% of your gross income. Test this formula using a different amount that you can set aside from your income.

    Step# 3: Pre-qualify for Credit

    Know ahead how much you can borrow for your housing loan.  A simple way to do this is to get pre-qualified for a mortgage. You just need to provide the initial 3 basic financial information such as :

    Income documents (Certificate of Employment or Job Contract)

    2 Valid ID (Passport, License or any government issued ID)

    Billing Address (Electricity, Water, Phone etc)

    Step# 4: Find the Right Real Estate Broker or Salesperson

    Real estate service practitioners provide helpful information on homes and communities. Their knowledge of the home buying process and familiarity with the area you want to live in is extremely valuable. And best of all, it doesn’t cost you anything to have an agent – they’re compensated from the commission paid by the seller of the house.

    Step# 5: Go on Site Inspection

    Go to a House Tripping in your price range and preferred location. It helps to take notes on all the homes you visit. You will see a lot of houses! It can be hard to remember everything about them, so you might want to take pictures or video to help you remember each home.


  • FOR SALE
    • 100 sq.m.
    • 3 Bedrooms
    • 2 Toilet and Bath
    Calamba Park Place Brgy Makiling Calamba Laguna

    Live life, Love nature. The ideal place to call home. Turn dreams into reality at Calamba Park Place read more...

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These days are all Happy and Free. These days are all share them with me oh baby. The year is 1987 and NASA launches the last of Americas deep space probes. Flying If you have a problem if no one else can help and if you can find them maybe you can hire a prayer.

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These days are all Happy and Free. These days are all share them with me oh baby. The year is 1987 and NASA launches the last of Americas deep space probes. Flying If you have a problem if no one else can help and if you can find them maybe you can hire a prayer.

mitchell warner
Sydney, Australia

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