Buy A HOME NOW!

7 Reasons To Buy Property Now

By Tessa Salazar
Philippine Daily Inquirer
First Posted 11:38:00 07/22/2008

DO YOU REALIZE that the money you throw on fuel could be your monthly amortization for a home? Here are top seven reasons you should invest:

1. Property’s still the best investment out there.

“The stock market is very volatile for people who are looking for a place to invest or where to put their money. It’s still real estate. It will still appreciate in value,” said Bobby Disini, vice president of PS Bank’s mortgage banking division. He added that even if people already have houses and still have money to spend, it would still be wise to invest in property. They can sell it later on.

2. Government housing loan provider Pag-Ibig has competitive rates now, making homes more affordable to Filipinos.

(This however... as you all know, doesn't apply to Ayala Projects and other developer projects)

3. A roof-over-your- head principle

“The family will always want a house over anything else,” Disini said. “That’s why we have a lot of overseas Filipinos working abroad and the first thing in their mind is to buy a house and a car,” he explains.

4. Buy while prices are still low.

Alejandro S. Mañalac, president of the National Real Estate Association, revealed that developers are increasing their prices. “The soaring prices of major construction materials are eating up developers’ margins. If buyers will just compute, the 10 to 20 percent increase that the developers are planning to implement is not even enough since the prices of steel and cement have practically doubled since last May. Those who are constructing their own houses can relate to this.”

5. Cut back on travel cost.

Eduardo M. Alunan, president of the Subdivision and Housing Developers Association, said that whether oil prices are high or low, investing in property under the present environment should be made a priority. Location, especially factoring in the proximity to the workplace, has always been a major factor in order to save in travel costs in and around Metro Manila.

6. Borrow now.

“I would advise people to borrow now. The rates will not hold primarily because inflation is still going up. I expect interest rates to go up and right now I think it’s the best time to apply while the rates are still at this level,” Disini said.

7. Search for the best home financing rate available.

Go where you can find the best rates available because the rates won’t hold for long, Disini said.

“Try to fix (the financing rate) for 5 or 10 years so that you won’t worry about any rate fluctuations. If you go for home financing, look for a bank that’s stable, or a bank that’s going to offer you fast service. Once your rate is approved, it can only lock in for a certain period of time.”

FIVE REASONS TO BUY A HOME NOW

OWNING a home is every Filipino’s dream. It may also be the biggest purchase one will ever make. Most first-time home buyers seek the advice of friends and family members alike. And often they will likely say that if you can afford to invest on a real property, then you should. Yet at times you have some apprehensions about it, and often you will still wonder, is it really the right thing to do? But the more you think about it, the more you are convinced of the long-term benefit of this investment. Here are five huge reasons why you should buy a home now.

1. Adequate inventory of residential housing units. The real-estate market is teeming with generous supply of residential housing units developed by reputable housing developers. Depending on your preference, some of these units are ready for occupancy and others are nearing completion.

The costs of these housing units are relative, depending on the development cost (low, middle, high cost) or property type, such as, but not limited to, single-detached, duplex, townhouses, or condominiums. With these at your disposal, you have better chances of finding the right home, in the right place, with all the features you want, and the amenities you can enjoy.

2. No rent increase jitters. If you’re a renter or are thinking of renting, your landlord would likely raise the rent yearly. The increase in rental amount varies depending on your location, number of occupants, etc. When you take out a fixed long-term loan to buy a house, the amount you spend to pay the rent may probably be the same amount you’ll pay each month to own that house. So why rent when you can own?

3. Investment for the future. Real-property investments would most likely appreciate in value, that’s why most people view owning a home as one of the best financial decisions they make in their lifetime.

4. Attractive financing package. Banks today are offering very friendly home-loan packages, giving home buyers the best opportunity to obtain good mortgage terms. MetroHome, the home-loan package of Metrobank, for example, is one of the easiest and most affordable housing loan packages in the market today. MetroHome offer competitive interest rates, flexible repayment terms of up to 25 years, and high loan amount out of the property’s appraised value.

Aside from making your dream of owning a home materialize, Metrobank’s “MetroHome High Life, High Five” raffle promo gives you the chance to win prizes you can fill your dream home with. Raffle prizes at stake ranges from complete kitchen bundle, fine furniture bundle, techno savvy and gadget bundles, to family entertainment bundles.

5. Pride of ownership. Undoubtedly the No. 1 reason why people buy homes is that they want the freedom that goes along with home ownership—to paint the walls any color you desire, make changes to fixtures and decorate to your taste. It also gives your family a sense of security and stability, knowing you no longer have to move each time your contract expires or when your landlord increases the rent. Owning a home is an investment of a lifetime.

Taken from Business Mirror