Rent to Own

[theveed]

Orly: so many thanks for that info... at least di ako masyado mangangapa...

Can you refinance ba after the 5th year? If not, yung after 5th year, yung natitirang balance nalang ba yun market rate or the whole principal padin?

M54: Di na, may sarili na akong tinatayong man-whore group, but walang takers lagi hehe..

[orly_andico]

david, sa pag-ibig you can refinance ONE (increase or decrease the remaining term). that's all.

[BoEinG_747]

pag-ibig is fixed at 14% for the first 5 years only. after that adjust na rin.

Sir orly.ilan percent po ang increase nila after your first 5 yrs ?

[_Qwerty_]

nice thread..

i was in this situation of renting an apartment since 2000.. 12.5K a month.. for 6 years.. waisted.. parang 900K na rin yun.. down the drain.. ni pang yosi wala man lang refund.. ehheheh

then I bumped into this condo in Edsa corner Boni, 3 years ago.. downpayment stretched for 3 years.. zero interest.. you can pay 20% or above downpayment.. I settled for 30% down.. after 3 years.. buo na yung condo.. ni turn over last January.. they've fixed the unit... and on Saturday we're moving na to our unit.. the balance of 70% went thru Pag-ibig housing loan.. payable in 5 years.. so after 5 years.. akin na yung condo.. and from the pre-selling to now.. nag appreciate na yung value nang mga 1M.. pwede ko na ngang benta.. kaya lang pagod na akong mag rent.. feeling ko nasasayang talaga yung money.. so I opted to live na lang sa unit...

ang maganda pa.. the unit size that I got is bigger than what I paid.. bigger nang 4 sqm.. so it's like 200K free..

so payo ko sa inyo mga pre.. lakasan lang nang loob yan.. at konting higpit sa sinturon.. kung di mo sisimulan ngayon.. kelan pa?? ang bilis nang takbo nang panahon.. if you wait and wait and wait.. 10 years will pass and nag rent ka pa rin..

daming new residential in the 1 - 2M category.. meron sa Sta. Mesa tapat nang Centerpoint.. meron sa may San Lazaro.. lahat pwede thru Pag-ibig.. developers are also starting to offer zero interest for the downpayment.. wag lang Citiland.. puro balloon payment.. or if you could wait 4 more years.. may isa pang tower don sa kinuhanan ko.. malalim lalim na rin yung hukay.. in 2 to 3 years time.. nakatayo na rin yun..

[orly_andico]

boeing_747,

i believe after 5 years pag-ibig will restructure the interest terms about 1-2 points above the indicative Central Bank lending rate. so It Varies (TM)

ok nga yung "pay the D/P kahit wala pa yung condo." mas nakakamura talaga dun. yun nga lang you'll pay rent pa rin for 3 years. medyo mahirap-hirap magbayad ng D/P (kahit amortized) AND mag rent at the same time.

[theveed]

Dvorak: Nice story Congrats bro...

[theveed]

Dvorak: Nice story Congrats bro...

[nigo]

david,
you got PM!

what i've learned over the past 6 months is that when you cross C5 (heading towards Cainta/etc) the price drops dramatically. as in really dramatically.

what a lot of developers are doing now is, they hook up with Pag-ibig. what happens is that you pay your downpayment (which can be as low as 10%), stay on the developer in-house plan for a couple months, then apply for pag-ibig. the developers have pre-assessed the value of their property already with pag-ibig.

the pag-ibig rates are a bit higher than BPI published rates, but they offer lower equity (as low as 10%) and longer terms than the banks.

if you have 500k to sink into a downpayment marami ka nang choices nun. see my PM for the bloody details.

p.s. i'm not a real-estate agent. i just went through this process recently..

OTOH according to another friend of mine, it's better to rent than finance. you see, financing a house will eat almost all your disposable income (unless you are really rich). so no disposable income = degraded quality of life. plus, less money goes into the economy because you're spending less on "luho." e.g. if you rent, you can prolly buy that shiny new mazda3 or something. if you finance a house.. goodbye mazda3.

something like that..

This was exactly my predicament a year ago. Would I rather buy a car or a home? Buying a home will mean less luho, less trip to malls etc. But we decided to get a home so bye bye BMW, hello bluebird he he he. But it was worth it, owning a home is so rewarding, will make you more committed to your family, job and you get the feeling that life is complete. It was like what Simba said when he was offered by Pumba and Timon to eat insects and worms, "slimmy yet satisfying" in our case, life's hard but satisfying.

[theveed]

Ako definitely out of the question ang buying a car, sobrang poor investment yan kung wala ka pang bahay imo hehe.

[baiskee]

daming new residential in the 1 - 2M category.. meron sa Sta. Mesa tapat nang Centerpoint.. ..

ser, san po dun?

[XTO]

better to have a lot first then unti-unti mong tayuan or if you have the budget ready tuloy finishing na. masarap na masaya ang feeling just like setting up cars and even the privacy is matchless. IMHO

[carfrancis]

Hi guys, up ko ulet. hehe..

a friend of mine just got married and also looking for a rent to own place in marikina. medyo mahirap nga kse maghanap. and i think rent to own is best for starter families kse ang bigat tlaga bumili ng bagong bahay ngaun. ung mga 3BR townhouse nasa 2.5M na agad. kulang eh ihulog mo nlng sa bahay ang buong sweldo mo, pano ka pa mabubuhay nun?? haay sobrang hirap tlaga..

pa post or PM nman po kng may mga alam kayo.. salamat po in advance! :D

[1D4LV]

Hi guys, up ko ulet. hehe..

a friend of mine just got married and also looking for a rent to own place in marikina. medyo mahirap nga kse maghanap. and i think rent to own is best for starter families kse ang bigat tlaga bumili ng bagong bahay ngaun. ung mga 3BR townhouse nasa 2.5M na agad. kulang eh ihulog mo nlng sa bahay ang buong sweldo mo, pano ka pa mabubuhay nun?? haay sobrang hirap tlaga..

pa post or PM nman po kng may mga alam kayo.. salamat po in advance! :D

not sure kung may mga rent to own places ngayon. afaik, yung mga rent-to-owns na naka advertise sa mga developers eh kunwari lang yung rent-to-own, pero in reality, in-house financing nila yun. you still need to do a 20-30% DP, tapos yung balance, which is payable every month.

kung starting families, a cheap townhouse via PAG-IBIG is most recommended. or, a bank loan (which still requires DP and equity) or talagang mag rent na lang muna, until makapag-ipon for that dream house.

if your friend is interested, i know a place in las pinas na pwedeng i-loan via PAG-IBIG.

[carfrancis]

not sure kung may mga rent to own places ngayon. afaik, yung mga rent-to-owns na naka advertise sa mga developers eh kunwari lang yung rent-to-own, pero in reality, in-house financing nila yun. you still need to do a 20-30% DP, tapos yung balance, which is payable every month.

kung starting families, a cheap townhouse via PAG-IBIG is most recommended. or, a bank loan (which still requires DP and equity) or talagang mag rent na lang muna, until makapag-ipon for that dream house.

if your friend is interested, i know a place in las pinas na pwedeng i-loan via PAG-IBIG.

thanks HG! will tell, im just not sure if ok sa kanya ang las piñas area kse far from work and relatives.

san ba magndang magsearch? ung iba kseng mga subdivisions di kilala at walang websites eh.

[1D4LV]

thanks HG! will tell, im just not sure if ok sa kanya ang las piñas area kse far from work and relatives.

san ba magndang magsearch? ung iba kseng mga subdivisions di kilala at walang websites eh.

usually bro, mga small-developers do not have websites eh.
try mo din sa website ng mga bigger and known developers like ayala, filinvest, fil-estate, etc. usually, may mga start up units yang mga yan.

if i remember it right, ayala sta rosa before, was selling at 800k lang. and a friend also got a town house unit at ayala silang cavite for 500k.

[HardCharger]

Hi All!

Am looking for something like this now so I'll just bump this thread up.

I need something in Makati, the nearer to Tower 1 the better but I'm not picky at this point.

I need to move in by the end of the month as my current accomodations are getting really crowded.

I don't really make much so it's even better if the rates are REALLY reasonable

Thanks in advance for the assist

[outmap]

not sure kung may mga rent to own places ngayon. afaik, yung mga rent-to-owns na naka advertise sa mga developers eh kunwari lang yung rent-to-own, pero in reality, in-house financing nila yun. you still need to do a 20-30% DP, tapos yung balance, which is payable every month.

kung starting families, a cheap townhouse via PAG-IBIG is most recommended. or, a bank loan (which still requires DP and equity) or talagang mag rent na lang muna, until makapag-ipon for that dream house.

if your friend is interested, i know a place in las pinas na pwedeng i-loan via PAG-IBIG.

Sir san sa Las Pinas?

[timrev]

-my alam po ba kayo rent to own sa cavite area?
-as much as possible malapit sa pasay
-malapit sa highway, school, market
-price 1.5 million below

im considering na kumuha ng bahay dun dahil sa gagawin LRT cavite extension at malapit sa work namin sa pasay

[1997]

ang rent to own scheme is a financing scheme... the developer take advantage of the financing scheme ng Pag-Ibig... Sa previous work ko all you need to produce is 10T in the span of 4 months then upon turn over ng property that's the time na mag start ka ng Monthly amortization sa Pag-Ibig... Ang main difference is yung appraisal ng Pag-Ibig sa property mo and yung amount na loloan mo... kung maganda ang appraisal mas mataas ang ma loloan mo... ganoon ang nangyare kay Delfin Lee sobrang ganda ng appraisal ng property niya sa Pag-Ibig kaya mataas ang ma loloan ng client, to the point na kaya nilang bayaran ang monthly amortization for 2 years.. kaya pwede sila gumawa ng ghost buyer...

Kung may nakita kang property na gusto mo gawing parang rent to own dapat mataas ang appraisal ng Pag-Ibig and mababa ang Selling price ng bibilhin ninyong property.. kung ma cocover ng ma loloan mo yung selling price sa Pag-Ibig, ang babayaran mo na lang is yung transfer ng title to your name... now kung hinde at gusto mo pa din bilhin yung property, then babayaran mo dun sa owner ng property yung difference ng ma loloan mo at sa asking price niya...

[jansky]

-my alam po ba kayo rent to own sa cavite area?
-as much as possible malapit sa pasay
-malapit sa highway, school, market
-price 1.5 million below

im considering na kumuha ng bahay dun dahil sa gagawin LRT cavite extension at malapit sa work namin sa pasay

sir you got PM