buy a house

February 7, 2019August 21, 2024

Factors that determine the affordability of your housing investment

How to determine great value when you buy a house in Metro Manila?

Al-Khor Townhomes San Juan captured the demand of Filipino families looking to reside within the capital.
If there’s one thing that drives homeowners to invest in Al-Khor, its affordability.

The price value of a house in this area has many factors.
1. The most significant would be the location.

As the city’s infrastructure continues to develop, the appreciation value also rise.
Developments such as businesses, shopping malls, flyovers, schools and hospitals all influence the price of a property.

2. The built structure also affects the cost of the property.

The design, construction cost, materials, height and space along with the durability of the building all has an impact to the value of the house.

In addition to its cost, amenities also contributes a role in this.
Common facilities such as swimming pool, park podium and fitness gym gives convenience and comfortable living to its homeowners.

3. Experience prestige lifestyle in this prime location.

Having quick access to other neighborhood cities adds to the value of the property.
No one goes wrong investing in a prime area knowing your property will appreciate its worth as time goes by.

All of these factors contributes to what your dream house is worth.
We at Al-Khor Townhomes, work to bring your dream house within your reach.
See it for yourself.
Call us now for more details or visit our few available units: Phase 2

in Financial Posted by Al-Khor Townhomes

October 12, 2014October 12, 2014

Who Can Get A Loan To Buy A House via Pag-Ibig Housing Loan

By the time you’re ready to purchase your new dream home, it may take a couple of years; worst scenario is that your much desired luxury house was already sold out to someone else. Or just maybe, it took too long for you to come up with the amount that the money you’ve saved up for this elegant house will no longer be able to purchase it since the value has already appreciated.

You might want to consider applying for a housing loan so you can finally see your dream house turn into a reality. We at Al-Khor Townhomes San Juan realizes this reality which is why we also have this option of payment method available in our townhouses for sale in San Juan that you can use Pag IBIG Housing Loan.

The question is… what are the requirements for you to qualify getting a housing loan to buy a house via Pag IBIG?

1. MEMBERSHIP IS A NECESSITY

Pag-Ibig Housing Loans General rule is that one should be a member of PAG IBIG for at least twenty four 24 months. Proof of monthly remittance within at least twenty four months at the time of the date of application is required.

2. LESS THAN THE MANDATORY

Provided that the applicant for the housing loan has been a contributing member of the Fund for at least twelve (12); an applicant with less than the necessary number of contributions shall only be allowed to put together the lump sum payment.

This lump sum will be based on the mandatory monthly contribution rates for them to meet the said requirement at a point of the loan application. Considered a single payment, the lump sum payment shall is for that appropriate month as of the payment date.

The member has an option to compensate in lump sum any amount short of the said prerequisite of two years of membership to satisfy the requirement.

3. OVER THE TOP

You need a loan that would go over ? An applicant shall be required to shell out the upgraded membership contribution rates once the housing loan was approved and going onwards. This is the same as well for members whose contribution is at least two (2) years and whose loans exceed P500,000.00

4. AGE DOES MATTER

So, how young are you?

The applicant for the loan should not be more than sixty-five (65) years old at the time the loan was applied. The member should be insurable and should not be more than seventy (70) years old by the time that the loan reaches its maturity.

Of course, the member or applicant at the same time should be legally capable of attaining an actual property.

5. OUTSTANDING LOANS

The applicant for the loan should be satisfactorily free of any outstanding credit or employment checks from PAG IBIG Fund once a background check was made.

The member, either a principal borrower or co-borrower, should not have any unsettled PAG IBIG housing loan. If a co-borrower that is pinned to certain loan would like to express his intention to avail of a Pag-IBIG housing loan for himself, then the co-borrower shall be permitted to do so provided the loan he is nailed into is updated and the total proportionate to his loan entitlement has been fully compensated.

Free from the original debt; the co-borrower shall be permitted to avail of his own Pag-IBIG housing loan. This condition is of course, subjected to standard assessment procedures.

6. DISQUALIFIED CASES

An applicant should not have any foreclosed, nor cancelled Pag-IBIG housing loan, should not have anything that was brought back due to default, or subjected to repossession. This includes cases where the borrower is no longer interested to continue with the loan or times when the property has to be surrendered.

So those are just the few requirements asked of you by the Home Development Mutual Fund or what is commonly known as Pag IBIG. You will need to fill out an application form and see to it that you pass this checklist.

You’ll be just a few weeks away from getting your loan approved with this guide we provided.

DISCLAIMER: We are not directly associated with Pag IBIG. You can also check their set of requirements at Checklist of Requirements for Housing Loan Evaluation.

We at Al-Khor Townhomes San Juan are providing you a fast and easy way for you to turn that dream home into a reality. We even provided a readily available picture of what your dream house would look like and the features that come along with it: www.localhost/alkhortownhomes.

If you would like to see an in depth discussion of the steps on how to get that Pag IBIG loan approved, then you can read through at: How To Get A Loan To Buy A House Via Pag IBIG Loan.

We also accept bank financing as another option which is discussed in this link: How To Get A Loan To Buy A House Via Bank Financing Loan.

We know that you’re longing to get that luxury home that you started saving up in your piggy bank for a number of years. We would love to hear from you some faster and easier way for you to get that much awaited dream house.

in Financial Posted by Al-Khor Townhomes

October 9, 2014October 9, 2014

How To Get A Loan To Buy A House in Manila via Pag-Ibig Housing Loan

We already have a reference as to who can get a housing loan via Pag IBIG; now we can discuss with you how to get a loan to buy a house via Pag-IBIG. You can finally get your the housing loan you waited for so long.
Al-Khor Townhomes San Juan realizes that you wouldn’t want those monthly contributions that were deducted from your payslip go to waste; we wanted you to finally see your luxury home happen; which is why we have prepared a checklist of what you may need to accomplish.

1. FILL OUT THOSE FORMS

Pag-Ibig Housing Loans Housing Loan Forms along with a checklist of requirements is readily available at any Pag IBIG offices. You can also download them from their official website at www.pagibigfund.gov.ph

In this new age of technology where innovations are done mostly online; the first step in getting that dream house you’ve dreamt for awhile would be easier than you think nowadays.

Pag-IBIG Fund now has an easier process of bringing you closer to acquiring a Housing Loan Application. There is now an online facility where their members may accomplish their applications and submit it to their website. A soft launch of this process is currently usable to all members that have an assigned Pag-IBIG Membership ID (MID) or Registration Tracking No . (RTN).

Their appointed scheduled date for submitting their documentary and technical requirements along with the conduct of loan counselling will be provided through a notification to all applicants from the National Capital Region / Metro Manila. Provincial applicants may visit the Pag-ibig Fund provincial branches near their location during any business hour suitable for the applicant’s availability.

2. SUBMIT THE APPLICATION FORM

Along with the complete set of requirements, the Housing Loan Application Form should be submitted to the Pag IBIG Fund office. It takes fifteen (15) working days that does not include the Credit Investigation and Property Valuation for this to be processed.
A partial non refundable payment will be required as a processing fee that amounts to PHP 1,000 to start the process.

For properties within the National Capital Region there are offices at Imus, Kamias and at JELP Business Solutions Building in Shaw Blvd. Mandaluyong City. Filling for Provincial properties can be done at any Pag IBIG office that is nearest to the property.

3. GETTING YOUR NOTICE OF APPROVAL (NOA)

You can start signing those loan documents once you receive your Notice of Approval (NOA) and Letter of Guaranty (LOA). Please note that the Notice of Approval will ONLY be released to the borrower.
A Special Power of Attorney (SPA) should be provided if the applicant is an Overseas Filipino Worker (OFW) and the Attorney-in-Fact will be the one to receive the Notice of Approval (NOA).

4. ACCOMPLISH YOUR NOA REQUIREMENTS

For your check to be released; you are given ninety (90) calendar days to accomplish your Notice of Approval (NOA). Present your Letter of Guaranty (LOA) to the seller if you are trying to purchase a House and Lot, a Condominium or a Townhouse unit.

You can then proceed with the Bureau of Internal Revenue (BIR) for payment of the Capital Gains Tax and Documentary Stamp Tax. The BIR will issue a Certificate Authorizing Registration. After this you can go straight to the Local Government Unit (LGU) for payment of Transfer Tax.

You can now go to the Registry of Deeds (RD) for the transfer of the title and annotation of the mortgage before you can advance to the LGU for the transfer of Tax Declaration.

The process is different to Refinance for Purchasing a House and Lot Mortgaged with Pag-IBIG Fund and for Construction of House or Home Improvement.

5. SUBMIT THE NOA

Within five working days your loan will be available once you have submitted your Notice of Approval (NOA) with the complete set of requirements to the Pag IBIG Fund office.

6. RECEIVE YOUR LOAN PROCEEDS

The Pag IBIG Fund will then release your loan.
A Payee who is either the seller or a third party to which the loan proceeds is assigned to be released should bring two valid Identification Cards (IDs). If payment is not done through a Salary Deduction Loan Proceeds, the Borrower should present 12 Post Dated Checks (PDCs); as this will be released to the person or institution assigned to by the borrower or the buyer.

7. START PAYING UP

Last but definitely not the least among these steps; you can now start paying your Monthly Amortization one month from the check date.

Using this guide that we have provided, you’re just a few weeks away from getting your loan approved.

A DISCLAIMER: We are not directly associated with the Home Development Mutual Fund. The summary of the process discussed were gathered from the official Pag IBIG Fund website. You can also check this at Procedure of Housing Loan Availment – Pag-ibig Fund.

Al-Khor Townhomes San Juan would love to turn your dream home to reality. Which is why we are providing you a fast and easy way for this to be done. We even provided a readily available picture of what your dream house would look like and the features that come along with it: Townhouse for sale in San Juan City, Metro Manila.

Wondering if you are qualified to apply for a Pag IBIG loan? We prepared an article that you may use as a reference. Who Can Get A Loan To Buy A House Via Pag-Ibig
We also accept bank financing as another option which is discussed in this link: How To Get A Loan To Buy A House Via Bank Financing Loan.

You’re desired luxury home is just a process away from happening. Anything you might want to add to the process we have indicated above? Then, we would love to hear from you.

in Financial Posted by Al-Khor Townhomes

September 2, 2014September 2, 2014

5 Tips on Buying a Townhouse in Manila

Are you looking to buy a townhouse to call home in Manila? If so, and if you feel overwhelmed during the house-hunting process, you are not alone. The beautiful city of Manila, and, in particular, San Juan City, has many amazing properties from which to choose, and it’s helpful to have a guide to help you find the property that best suits you.

That’s why we’ve put together these five must-read tips for buying a townhouse in Manila. A townhouse is a great option as it is spacious with two or three stories and usually less expensive than a single family home.

Get a Reputable Sales Agent

It is advisable to have a quality sales agent to help you with your search for buying the townhouse of your dreams. This sales professional understands the housing market and can find you the properties for sale within your budget and that meet your criteria, including the number of bedrooms you envision. The agent can also provide you with vital information about a property, fully understands Philippine laws and can help you get a mortgage loan you want.

Search for Community Accessibilities

When you are looking at a townhouse for sale in San Juan or within another part of Manila, check for the local community accessibilities. For example, is there are place nearby to buy groceries easily? Is there a bank, church or mall close by that meets your expectations? Also examine the transportation routes in the area to ensure you could easily get around there if you purchase the property, or that your children can visit you easily there.

Visit a Townhouse at Different Times

Another tip for buying a townhouse in Manila is to visit the prospective location during different times of the day. What you want to see is whether the neighborhood is noisy at certain times of the day and how much traffic the street gets during the day versus at night. Then you can decide whether what you see or hear is going to be something you can get used to every day.

Research Values in the Area

Research what the average townhouse in San Juan or another city in Manila typically sells for. While you may not have the expense of children living with you, what you do need to consider is whether you can comfortably afford the average property price in the area. As well, ensure that you don’t get overcharged during buyer negotiations by being knowledgeable about reasonable prices in the neighborhood; a sales agent can help you determine these values easily.

Leave Room for Taxes

When negotiating a deal on the townhouse of your dreams in Manila, don’t forget to leave room in your budget for paying taxes. Buying real estate comes with the assumption that you will pay for the documentary stamp tax, transfer tax and registration fee (with the seller paying other fees). This is a standard procedure in the Philippines, although you may be able to negotiate with the seller for a slight alteration on the pricing structure. Make sure you keep these taxes in mind during the buying process so that you stay within your budget. That way you won’t buy yourself into debt, which only takes away from the excitement of owning a new property.

There are many great areas for shopping and dining in Manila, which makes it an ideal place to buy a townhouse.

Follow the five tips above to get the best experience buying a townhouse in San Juan or another local city so that you can truly enjoy the experience of living in the culturally-rich, beautiful location.

Make the most of your retirement, time without the kids or the joys of treating yourself to a property that you have always dreamed of obtaining – you deserve it, and an affordable one is close by, within reach, in Manila!

in Community, Financial Posted by Al-Khor Townhomes

September 1, 2014September 2, 2014

Cost of Renting vs Buying a House

As you were browsing your social media account, an advertisement about a townhouse might have captured your attention: “house for sale in the Manila Philippines“. All of a sudden you were people have a tendency to fear the fact of acquiring a property investment.

Which is better for you? Rent vs buy? House is one of the most basic necessity which. One might compare the monetary value of renting versus purchasing a house. A House for sale may be something you desire to land on; however, most people does not have sufficient capital to purchase an entire house with their own cash savings.

For this reason most people are stuck thinking about this question.

Let’s take an in-depth look on certain factors of this comparison.

COMPUTE SOME NUMBERS

Think of this for a moment; Which option will save those extra cash you set aside?
There is always this argument about which one is more cost-effective. Some would suppose it’s more practical to rent a home; buying an affordable house is wiser according to most people. It constantly gets down by the numbers and then try to balance your finance in a long term perspective.

– Why not try to add up the amount that you have to compensate for an entire year renting an apartment. The sum of the extra charges attached to the monthly rent such as parking fees and utility fees.
– Now multiply these numbers in a span of at least five years.
– Then find a house within the same vicinity which would have the same lot area that you’re renting. Note the amount of the contract price of your target property.
– Tally the cost of repair, taxes and mortgage up in a five year term that you can see the comparison between the two.

Al-Khor Townhomes San Juan understands that you are planning in advance, which is why we would wish you to punch in those numbers. You’ll have an estimate how much you’ll be spending within that time frame. It would be better to have the computation set for ten (10) years, that way you can see the bigger picture in hand.

Renting a house has got nothing tangible to show for besides the accumulated receipts and the next pending bill. It is then considered a wise move to buy a property rather than to rent.

DEAD MONEY VERSUS A GOOD INVESTMENT

At the present time, the biggest factor of our comparison is the expenditure of purchasing.

Try to analyze, since this would rely on the condition of the Philippine real estate. In some instances that the price is on the down trend, then renting may be to the advantage.

When the price of the real state goes up, then renting can be projected as dead money. An example to this is when the contract price of a property, the maintenance and along with the mortgage is less compared to expenditure of the monthly rent for a number of years, then it’s wise that you consider purchasing a home.

The premium on buying a house these days maybe large; it is still a general saying that buying a home is still a“good investment.” In any case, you’re not “throwing away your money.”

We at Al-Khor Townhomes San Juan recognize that you want to obtain a property investment since you would love to build your wealth and assure a secure a retirement in terms of real estate investing. Having read that, we made it sure our series of luxury townhouse in San Juan are affordable homes you can acquire.

As you have to think whether it is a good time to buy a property investment, put this in mind: You’re going to eventually do it anyway. If not now then when will you start?

LANDLORDS LORDING OVER YOU

Monopoly is born since you’re not given a choice; we can provide you a better choice.

Think about the charges you don’t have any control over. Aside from the monthly dues of renting, you are also dictated by those extra charges. Most landlords based it on the overall consumption of all the tenants along with those added utility bills and you’re not even sure where the rest of it came from.

We at Al-Khor Townhomes San Juan recognize as well that you felt like paying your monthly rent is like throwing money away. Which is why we made it possible for you to realize that the price of purchasing a house is more economical to maintain compared to your rent; we offer a variety of affordable townhouses which can reduce the cost in a long run.

Be mindful that as you continuously pay for the mortgage, you also gradually get closer to owning that property. In doing so, you’ll be free from a landlords’ dictatorship.

Cost is a factor no more. Do you feel like your eternally paying up monthly rents? We would love to hear how you weigh the cost between your rent and your prospective dream house.

in Financial, Security Posted by Al-Khor Townhomes

Factors that determine the affordability of your housing investment

Who Can Get A Loan To Buy A House via Pag-Ibig Housing Loan

1. MEMBERSHIP IS A NECESSITY

2. LESS THAN THE MANDATORY

3. OVER THE TOP

4. AGE DOES MATTER

5. OUTSTANDING LOANS

6. DISQUALIFIED CASES

How To Get A Loan To Buy A House in Manila via Pag-Ibig Housing Loan

1. FILL OUT THOSE FORMS

2. SUBMIT THE APPLICATION FORM

3. GETTING YOUR NOTICE OF APPROVAL (NOA)

4. ACCOMPLISH YOUR NOA REQUIREMENTS

5. SUBMIT THE NOA

6. RECEIVE YOUR LOAN PROCEEDS

7. START PAYING UP

5 Tips on Buying a Townhouse in Manila

Get a Reputable Sales Agent

Search for Community Accessibilities

Visit a Townhouse at Different Times

Research Values in the Area

Leave Room for Taxes

Cost of Renting vs Buying a House

COMPUTE SOME NUMBERS

DEAD MONEY VERSUS A GOOD INVESTMENT

LANDLORDS LORDING OVER YOU

IT'S TIME TO DISCOVER

AL-KHOR TOWNHOMES SAN JUAN