Another hardworking OFW couple in Qatar has achieved their dream of owning their dream house. They were able to save up for a house after working three years in Qatar.
(ALSO READ: What are the Benefits of being a Pag-IBIG Member?)
)If you are looking for design inspiration, this video will give you some ideas. It will also inspire fellow OFWs to work hard and save so they can have their dream homes, too.
Take A Virtual Tour Inside
In this YouTube video from Lucky Spark, we are treated to a house tour inside the house of an OFW couple. Viewers can see the manicured lawn, where the vloggers suggested hiring a landscaper to get the desired style.
Inside the two-story house, viewers can see the different rooms in the house like the kitchen, laundry room, living room, entertainment room, bedrooms, and toilet. Upstairs, the vloggers showed the view from the balcony where one can see the rows of houses. One of the hosts even said that it’s cold since the subdivision is near Tagaytay.
Check out the full video below:
4 Factors to Consider When Buying A Property
There are some factors that you need to consider when you decide to buy a property in the Philippines. Here are some ideas to help you decide:
- Budget – some real estate brokers suggest a budget of Php 500,000 to Php 1,200,000. You’ll be able to afford a row house with this amount. You might need to save some more for upgrading the unit you’ll buy. On the other hand, if you are thinking of getting a condominium, the average cost is Php 2,000,000. This amount can go higher if you will buy a unit in the city.
- Location – the location of your property should meet your family’s needs. Do you want to live near a school? Or do you want to live near your workplace? Properties near the central business district or universities tend to be more expensive. If you choose to live here, be prepared to shell out a larger amount for downpayment and monthly amortization. On the other hand, you’ll save on transportation expenses because you won’t have to travel far. If you choose to live outside the city, you can buy a house for a lower price. However, you’ll have to allot a bigger budget for transportation.
Aside from the accessibility to the city or work, you should choose a peaceful community. You can ask potential neighbors if the place is prone to crimes and other similar cases. You can also check for CCTV cameras around the neighborhood. You should also check whether the community is a flood-prone area.
3. Household size – the number of people that will occupy the house should be considered. If the household size is small, then perhaps a small row house will suffice. On the other hand, if there are more members in the family, then you can buy a two-story property to accommodate everyone.
4. Home loan – if you want to take out a loan to help pay for the property, you can choose whether to get one from a bank or Pag-IBIG. Each has its pros and cons. You can ask your bank representative regarding their terms. To get a housing loan from Pag-IBIG, the basic requirement should at least be 24 months of continuous contribution.
Your earnings from working abroad should be spent wisely. Investing in a property will ensure that you will have a place to live when you decide to retire or to go home for vacation.
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