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7 QUESTIONS THAT EVERY FIRST-TIME HOME BUYER WANTS TO ASK

7 QUESTIONS THAT EVERY FIRST-TIME HOME BUYER WANTS TO ASK
“Can I already afford the house?”

The biggest and the most important question of all is: Can you already afford to buy a house NOW? Owning a house is probably the first biggest decision you will ever make as a family. Therefore, you need to make sure you’re ready, emotionally, and of course, financially. First, you need to learn how to assess your true NDI (Net Disposable Income). This technically refers to your Net Income minus taxes. However, you should also consider your Net Disposable income minus taxes minus expenses (bills, education, etc). As a general rule for bank approvals, most agents, real estate brokers and developers are using the “One-third rule” to initially assess financial capability. This computes for one third of your gross household monthly income. That figure is usually the monthly amortization that they earmark for you.

It is not advised that you stretch this earmarked amount just to obtain the house and lot that you want. Stick with your financial figures and look for the package that’s in line with it. Ideally, you should only be able to use up half your NDI for the monthly payments and the other half should be allocated for savings for emergency purposes.

Owning a house is probably the first biggest decision you will ever make as a family. Therefore, you need to make sure you’re ready, emotionally, and of course, financially. First, you need to learn how to assess your true NDI (Net Disposable Income). This technically refers to your Net Income minus taxes. However, you should also consider your Net Disposable income minus taxes minus expenses (bills, education, etc). As a general rule for bank approvals, most agents, real estate brokers and developers are using the “One-third rule” to initially assess financial capability. This computes for one third of your gross household monthly income. That figure is usually the monthly amortization that they earmark for you. It is not advised that you stretch this earmarked amount just to obtain the house and lot that you want. Stick with your financial figures and look for the package that’s in line with it. Ideally, you should only be able to use up half your NDI for the monthly payments and the other half should be allocated for savings for emergency purposes.

“Do I need to pay at least the down payment/equity on the spot?”

Most real estate developers offer staggered payment on equity of up to 15 months. But it is critical to know the desired timing of your move-in. Developers usually start with the construction or the ground work on your house when you’ve paid at least 10% of the total contract price (TCP). This usually coincides with bank or Pag-ibig approval.If you pay spot-cash down payment, you are usually entitled to

If you pay spot-cash down payment, you are usually entitled to further discount, which varies per season and per property or area. But it is best not to wait too long until you reserve and start payment. It is not advisable to wait until you have enough DP cash because by the time you have enough cash for DP, the price of the property will definitely be higher, and thus your saved money might still not be enough.

For most people, they already have some savings intended for their first house. It is best to mention this to your agent so that you can be offered a special payment scheme. For example, you have at least P100,000 already earmarked for your house, it may help to pay that upfront so that monthly payments for the DP can be significantly reduced. It may also be used to fast-track construction of your house

“What requirements or documents do I need to prepare?”

There is a long list of requirements for housing and these are usually bank requirements, which you really have to prepare ahead of time. Each house for sale unit may have their own set of requirements but this is a list of the most common ones:

STANDARD REQUIREMENTS

Birth Certificate (photocopies)
Marriage Certificate (photocopies)
2×2 pictures (Principal/Spouse/Co-Borrower/Attorney-in-fact)
Residence Certificate (Principal/Spouse /Co-Borrower/Attorney-in-fact)
Proof of Billing Address
Post Dated Checks (for equity)
2 valid Identification cards (Applicants/Spouse/Co-Borrower/Attorney-in-fact)

MAJOR REQUIREMENTS (LOCALLY EMPLOYED)

Photocopy of latest Income Tax Return and w-2
Original and Notarized Certificate of Employment and Compensation
Payslips for the last 3 months (Applicant/Spouse)
Bank Statement for the last 3 months
Major requirements differ per type of employment (Local, Self-employed, OFW). The list is available online upon simple Google search.

“What is the reservation fee really for?”

When you go on a tripping activity with any developer agent, they, of course, require a reservation fee to close the sale. This non-refundable reservation fee is more than a guarantee for the block and lot you wish to purchase. More importantly, it guarantees and reserves the price at the time of closing. The unit you want may actually still be there when you return a second time or sometime after that, but the chances that you’ll be able to get it at exactly the same price is perhaps very slim. The values of properties (lot) in the country have significantly appreciated over the last 5 years. This is especially true in areas like Antipolo, Cavite and Laguna where economic developments, as well as rapid migration of residents from Manila, are observed.

“When do I move in?”

Turn over period has become more and more important over the years because of the escalating rental rates even outside Metro Manila. As only 49% of those living in Metro Manila own their homes, the rest who are either renting or renting for free have no choice but to seek for their first homes in the next city centers (Antipolo, Cavite, Laguna, or Bulacan) mainly because of their accessibility and proximity to the work place/CBDs.

Given this, most developers let you move in after downpayment, but this usually coincides with either bank or Pag-ibig approval when both (DP and approval) are sufficed. Movement of course doesn’t come exactly right after or a few days after the fulfillment of these requisites. It usually takes another month or 2 to let finishings and furnishings settle in.

“What does Rent to Own really mean?”

The RENT-TO-OWN phrase has really been a puzzle for many. Some developers use it to connote staggered payment for downpayment as opposed to spot DP. Most of the time, homeseekers assume that it will have similar terms as when you move or transfer to a rental unit such that you just need to pay for least 2 months advance and 2 months deposit. But this is still short of the required equity even for low cost housing (less than P1M). Thus, some developers now offer affordable options for condo seekers. For one particular condo developer, client only needs to pay reservation fee of about P10,000, cash out 2.5% of total price and submit PDCs for the 7.5% payable in 15 months. Client can already move-in within a month after completion of requirements.

For house and lot, however, only a few developers offer real rent to own payment schemes. But it might also be worthwhile to check for Ready-For-Occupancy (RFO) units and inquire about a payment scheme with fast turnover period. You might chance upon an RFO promo that lets you move-in with low cash-out requirement and PDC guarantee.

“How can I ask for a discount?”

Normally, developers offer discounts for cash payments only, either for Cash TCP (total contract price) or for Spot DP (downpayment). But in some cases, they offer significant on-the-spot discounts for reservations on a limited time period. It ranges from P50,000 to as high as P150,000 depending on the unit type, whether a townhouse, single-detached or lot only. Don’t be afraid to ask for additional discounts and freebies from your agent as promos vary from one period to another depending on the time of month.

Insider Tip: Due to cut-off period, it might be better to reserve during end of month or first 3 days of the month where promos and discounts are usually applied to make sales quotas.

The real estate landscape in the country has changed dramatically over the past few years with the introduction of a myriad of innovative developers offering house and lot packages at very low prices. House cost has been significantly brought down by new technology in the construction industry such as precast, cast-in-place and other options. This is why the real estate industry has become more competitive now, more than ever. This also makes new homebuyers more astute and more discerning than in the old days when brand such as Camella was the sole the yard stick of quality. Home buyers nowadays ask more questions, inquire with more than one developer and are seldom impulsive with their decisions. If you think that you’re this kind of buyer who asks these abovementioned questions and more, don’t worry, you’re definitely part of the curve.

SALES & MARKETING

Landline:
Manila Telephone: (02) 703 2965
Cavite Telephone: (046) 450 5812

Mobile:
Globe: (+63) 917 512 5471
Smart: (+63) 998 978 9039
Sun: (+63) 932 885 4162

Viber:
Globe: (+63) 917 512 5471
Smart: (+63) 998 978 9039

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CAVITE LAGUNA EXPRESSWAY

CAVITE LAGUNA EXPRESSWAY
The road construction project from Tirona Highway to the end of Greenfield near Mamplasan Exit, Laguna will be closely monitored so that by 2020, our travel time from CAVITEX to SLEX will be reduced to only 45 minutes.



SALES & MARKETING

Landline:
Manila Telephone: (02) 703 2965
Cavite Telephone: (046) 450 5812

Mobile:
Globe: (+63) 917 512 5471
Smart: (+63) 998 978 9039
Sun: (+63) 932 885 4162

Viber:
Globe: (+63) 917 512 5471
Smart: (+63) 998 978 9039

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CALAX LAGUNA SEGMENT BREAKS GROUND

CALAX LAGUNA SEGMENT BREAKS GROUND
Public Works and Highways Secretary Mark Villar, Metro Pacific Investment Corp. chairman Manuel V. Pangilinan, Transportation Secretary Arthur Tugade and Budget Secretary Benjamin Diokno lead the groundbreaking for the 18-kilometer Laguna segment of the Cavite-Laguna Expressway project in Sta. Rosa, Laguna

Metro Pacific Investments Corp. subsidiary MPCALA Holdings Inc., which broke ground for the Cavite-Laguna Expressway (Calax) yesterday, expects to seal before the end of the month the P23.6 billion loan agreement with banks to fund the construction of the project.

“We should be closing the deal this month,” MPCALA Holdings president and chief executive officer Luigi Bautista told reporters during the groundbreaking ceremony.

Bautista said the groundbreaking marks the start of the construction work for the 18-kilometer (km) Laguna segment of the Calax.

Last March, MPCALA Holdings signed the contract with DM Consunji Inc. for the construction of the Laguna segment.

Bautista said MPCALA Holdings expects to sign the contract for the construction of the Cavite segment of Calax with Leighton of Australia before the end of this month.

He said MPCALA Holdings hopes to start construction for the Cavite section in September.

“We expect to complete the construction and start commercial operation of the toll road within the third to fourth quarters of 2020,” Bautista said.

The whole Calax project, which will have eight interchanges and one main toll barrier, is expected to reduce travel time from Cavitex to SLEX by 45 minutes.

“The road construction project from Tirona Highway to the end of Greenfield near Mamplasan Exit in Laguna will be closely monitored so that by 2020, our travel time from Cavitex to SLEX will be reduced to only 45 minutes,” Public Works Secretary Mark Villar said.

The project is part of the 45-kilometer closed system modern tolled expressway awarded by the Department of Public Works and Highways to private concessionaire MPCALA Holdings Inc. of the Metro Pacific Group which won the competitive bidding under the government’s public private partnership program.

“Calax will be one of the most advanced highway in the Philippines. It expected to ease traffic congestion along Governor’s Drive, Aguinaldo Highway and Santa Rosa Tagaytay Road,” Villar said.

Readmore . . . www.philstar.com/business

SALES & MARKETING

Landline:
Manila Telephone: (02) 703 2965
Cavite Telephone: (046) 450 5812

Mobile:
Globe: (+63) 917 512 5471
Smart: (+63) 998 978 9039
Sun: (+63) 932 885 4162

Viber:
Globe: (+63) 917 512 5471
Smart: (+63) 998 978 9039

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HAPPY FATHER’S DAY!

HAPPY FATHER’S DAY!
Sending our warmest greetings to all our beloved dads. Happy Father’s Day!

SALES & MARKETING
Landline:
Manila Telephone: (02) 703 2965
Cavite Telephone: (046) 450 5812

Mobile:
Globe: (+63) 917 512 5471
Smart: (+63) 998 978 9039
Sun: (+63) 932 885 4162

Viber:
Globe: (+63) 917 512 5471
Smart: (+63) 998 978 9039

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LRT1 CAVITE EXTENSIONS GROUNDBREAKING CEREMONY

LRT1 CAVITE EXTENSIONS GROUNDBREAKING CEREMONY
The Light Rail Manila Corporation (LRMC), the contracted operator of LRT 1, held its groundbreaking ceremony for LRT 1 Cavite Extension Project on Thursday to officially begin its construction.

The ceremony was led by Transportation Secretary Arthur Tugade, Public Works and Highways secretary Mark Villar, Ayala CEO Jaime Augusto Zobel de Ayala, and Metro Pacific CEO Jose Lim, and Sen. Cynthia Villar.

According to Light Rail Manila President and CEO Rogelio Singson, the P64.9-billion project of the Light Rail Transit Line 1 (LRT1) extension from Baclaran to Bacoor, Cavite is eyed to be completed on October 2021. On its opening year, the railway line is anticipated to accommodate 410,000 passengers a day.

This Private-Public Partnership (PPP) was bagged by LRC, a conglomerate of Ayala Corporation and Metro Pacific Investments Corporation (MPIC) last February 2016. According to PPP Center, the private partner will assume the design, construction, financing, operation, maintenance of the integrated system upon completion of the project as well as undertake forthcoming system maintenance, upgrades and permitted commercial development.

LRMC stated that the Cavite extension project will cover 8 stations for its initial operations, namely Aseana Station, MIA Station, Asiaworld Station, Ninoy Aquino Station, Dr. Santos Station, Las Pinas Station, Zapote Station and Niog Station.

Readmore . . . www.gocavite.com

SALES & MARKETING
Landline:
Manila Telephone: (02) 703 2965
Cavite Telephone: (046) 450 5812

Mobile:
Globe: (+63) 917 512 5471
Smart: (+63) 998 978 9039
Sun: (+63) 932 885 4162

Viber:
Globe: (+63) 917 512 5471
Smart: (+63) 998 978 9039

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DE LA SALLE SANTIAGO ZOBEL (ALONG DAANGHARI) 6.1KM AWAY FROM BELLEFORT ESTATES

DE LA SALLE SANTIAGO ZOBEL (ALONG DAANGHARI) 6.1KM AWAY FROM BELLEFORT ESTATES
As DLSZ’s second campus, it will continually pursue Lasallian excellence in education and provide holistic formation, make Lasallian education more accessible to a greater population base and create a learning environment that will inspire curiosity and foster critical thinking;

• where the youth can be free to imagine and nurture their interests and gifts as artists, athletes, musicians, innovators inventors, and community builders;

• where they can experiment, collaborate, and train in order to contribute to the development and future progress of the country.

It will be a learning space which can ignite the spark in young learners to reach their optimum potential and become catalysts for the transformation of our society. The Vermosa Sports and Lifestyle Complex will serve as a training facility for DLSZ’s athletes who will become future national athletes.

The DLSZ-Vermosa Campus aims also to be the center of excellence for teacher training in blended-learning and open our doors to share best practices of the latest trends and innovations in teaching strategies and educational research.

With the pioneering implementation of the Next Generation Blended Learning Program, the DLSZ Vermosa-Campus will set the standards and serve as a model for Philippine basic education.

Readmore . . .

SALES & MARKETING
Landline:
Manila Telephone: (02) 703 2965
Cavite Telephone: (046) 450 5812

Mobile:
Globe: (+63) 917 512 5471
Smart: (+63) 998 978 9039
Sun: (+63) 932 885 4162

Viber:
Globe: (+63) 917 512 5471
Smart: (+63) 998 978 9039

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UP CAMPUS (ALONG DAANGHARI) IN VISTA CITY 7.5KM AWAY FROM BELLEFORT ESTATES

UP CAMPUS (ALONG DAANGHARI) IN VISTA CITY 7.5KM AWAY FROM BELLEFORT ESTATES
A UP Technology Innovation campus will soon rise in Dasmariñas, Cavite as part of the University Town of Vista City—an “integrated urban development” project of Vista Land and Lifescapes, Inc. (Vista Land).

This campus is intended to facilitate collaboration and develop partnerships with industries and business enterprises within CALABARZON for the promotion of education, training, and research in innovation.

The idea behind this development was the UP think paper published last March, “Knowledge-based Development and Governance: Challenges and Recommendations to the 2016 Presidential Candidates,” which says that investing in knowledge capital is key to progress and sustaining inclusive growth.

A memorandum of agreement (MOA) signed by the University with Vista Land on June 27 at The Peninsula Manila formally established the partnership that will make this campus a reality. The signatories were UP President Alfredo Pascual, Vista Land President and CEO Manuel Paolo Villar, Senator Cynthia Villar, and Vista Land Chairman Manuel Villar Jr. UP Vice President for Academic Affairs Gisela Concepcion and UP Vice President for Development Elvira Zamora witnessed the signing of the agreement. UP Diliman College of Engineering Dean Aura C. Matias and Technology Transfer and Business Development Office Director Luis G. Sison were also present during the event.

Pascual said that this UP campus “can give its student-technopreneurs a better shot at bringing discoveries, inventions, and designs to the innovation stage and competing on the bigger world stage.”

“[It] is envisioned to become the birthplace of local tech start-ups that will ensure that the Philippines will remain competitive in today’s global economy,” according to Manuel Villar Jr.

Manuel Paolo Villar added that with the signing of the MOA, “doors [will be] opened to aspiring technopreneurs and big tech industry players alike” and that the country will “[get] closer to making this economically progressive future a reality.”

In the agreement, Vista Land agrees to donate five hectares of land to the University within Vista City’s University Town “for the purpose of establishing, developing, and operating a campus in the area.” Vista Land, meanwhile, will develop the property and construct the buildings and facilities of the campus “at its sole expense.”

Upon completion, the development will be turned over to the University through a deed of donation.

According to Vista Land, Vista City is located in a 1,500-hectare area where Cavite, Laguna, Las Piñas, and Muntinlupa converge. Apart from the University Town, its development components are “Lifestyle Retail, Prime Office Space, Themed Residential Developments, and Leisure.”

Readmore . . .

SALES & MARKETING
Landline:
Manila Telephone: (02) 703 2965
Cavite Telephone: (046) 450 5812

Mobile:
Globe: (+63) 917 512 5471
Smart: (+63) 998 978 9039
Sun: (+63) 932 885 4162

Viber:
Globe: (+63) 917 512 5471
Smart: (+63) 998 978 9039

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LIPAT AGAD PROMO! Ready For Occupancy Houses For Sale Near MCX, Daanghari Road & Alabang

LIPAT AGAD PROMO! Ready For Occupancy Houses For Sale Near MCX, Daanghari Road & Alabang
LIPAT AGAD PROMO!
Downpayment is super low, with free appliances for your new house. Until Oct 30, 2016! Share every moment for life. Visit www.bellefortcavite.com for complete house details.

Ready For Occupancy Houses For Sale Near MCX, Daanghari Road & Alabang

1) Charlotte – P 131,002.00 Required Total Cash Out
2) Sabine – P 175,828.00 Required Total Cash Out
3) Vivienne – P 249,828.00 Required Total Cash Out

HOW TO AVAIL THIS PROMO

Step 1. Get a Viewing Schedule. Call/Text +63 9175125471 / +63 9989789039. Tripping vehicle and house viewing assistance is FREE. Guaranteed NO service fee.

Step 2. Request Sample Computation. Choose your financing and payment terms – Cash or Installment. Select the best location, view the actual house and pay the reservation fee.

Step 3. Pay your first downpayment. It will start 30 days after you reserve the unit. Payments schedule is given for your reference.

Step 4. Submit documents within 30-60 days. List of requirements will be given.

Step 5. If you pay total cash out in full, you can move-in within 2-3 months. If you pay by installment, you can move-in after total cash-out is full paid. Signed bank loan guarantee is required. Free appliance is given during move-in period.

CONTACT /INQUIRE

FOR CALLS OUTSIDE PHILIPPINES:
(Whatsapp /Viber / IMO / Skype)
Mobile: +63917 512 5471
Mobile: +63998 978 9039
Mobile: +63932 885 4163
Manila Telephone: +632 703 2965
Cavite Telephone: +6346 450 5812

FOR CALLS INSIDE PHILIPPINES:
Manila Telephone: (02) 703 2965
Cavite Telephone: (046) 450 5812
Mobile: 0917 512 5471
Mobile: 0998 978 9039
Mobile: 0932 885 4163

WARNING
Be safe always. Deal only with license real estate broker for your protection.

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EVIA LIFESTYLE CENTER

EVIA LIFESTYLE CENTER
The Evia Lifestyle Center, the upscale commercial center that brings this community together, provides an outdoor extension of nearby homes with a touch of class, taking to heart its slogan: Being your home outdoors and the basics everyday.

Its Everyday Building, the first phase of this development, has opened its doors to the public with guests dropping by its tenants: Starbucks Coffee, Rustan’s Supermarket, Accupoint and McDonald’s.

And, that’s just the Everyday building. Evia’s Development doesn’t stop there. People can also look forward to the Global Village Building; the Club; Serenity, where the cinema may be; and, Evia’s river development, a feature that’s definitely unique throughout the country.

Readmore . . . www.vistamalls.com.ph/mall/evia-lifestyle-center/ More