We are presently renting a place with floor area of maybe more than a hundred square meters, with garage-like space in front (though we do not have a car), sala/kitchen, two bedrooms, one toilet/bathroom, and very strong 24-hours of tap water, for only P4,500. Quite a good deal really compared to the up-and-down apartment we previously rented for P7,500. Still, when you start thinking of how much you've paid for rent through all these years, you begin to think of getting our own house.
Of course, getting a house is not really a "good" investment. I remember that in his book Rich Dad Poor Dad, Mr. Kiyosaki insisted that your residential house is not really an asset. According to him, your house brings money out of your pocket and thus should be considered a liability rather than an asset. Perhaps the same reason why Money Smarts of Inquirer.net advises us to buy our second house first, instead of buying our dream house and giving up all our savings in return.
Sound advise except that buying a low-cost house on installment with the amortization equal to or less than your monthly rentals now would be a better option. If you can find such a house, of course, which you can transfer to immediately, or within a bearable length of time from your first payment. You wouldn't want to be caught still renting your old house while at the same time already paying for the amortization of the new one.
After having gone to many of those free subdivision "open houses" and "trippings", I have decided to research and post here all information I can find on low cost houses. The goal of course is to find a nice but cheap residential property for my family as well as help others find their own. Any tips/information on the topic will of course be greatly appreciated.
1 comment:
It's hard to find one IN metro manila. Any MM location is already expensive. So you try to look to towns nearest MM. You have to consider geographical location since some areas are lower than the others...are you sure flood will no reach you?
Several questions you need to get answers for:
- does it flood in the area?
- is water safe for drinking and available 24 hours?
- is security available?
- are there nearby schools, market, and hospitals/clinics?
- is commute available 24 hours?
- how is traffic to my workplace?
- do I need a landline local to Manila (code 02)?
- do I need internet at home?
Pls fill up the Assessment Form at my site so I can help you depending on your needs and financial capacity.
You've also asked how you can be an agent. You'll have to get training for that and you'll have to work for it. Come to the office so you can know if you really want to be an agent who does the working or merely a referral agent. :)
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