Rent to Own

**Sheep** · March 21st, 2006 12:21 AM

Originally Posted by davy88

actually madami rin misconceptions about renting, like feel nyo tinatapon lang ang pera.

when you buy a house and lot, may babayaran kapa mga real estate taxes every year and of course maintenance mahal din because of wear and tear. tutulo ang roof, repaint, piping problems, water pump, etc. etc. after 10 years. renovate na

in renting, wala kana iproproblema, and may nakatabi kang pera just in case kelangan. if you put almost all your money in buying a house, mahirap na if you need the money matagal magdispose ng real estate, unlike kotse mabilis lang.

the interest your money will earn instead of buying a house is usually enough to cover the rental. and the interest rates here talaga mataas, 10-13% per year so pag mag housing loan ka lugi ka for me. pag 5 years to pay edi parang nagbayad kana ng 40% more siguro

true indeed but when you are older and just relying on your pension and the allowance your children is giving you it is better to have a place of your own

and wouldnt it be nice if even for once in your lifetime you can say nagkalupa ako i own this piece of land may sarili akong bahay which eventually you can also give to your child

**empy** · March 21st, 2006 03:34 AM

Originally Posted by davy88

actually madami rin misconceptions about renting, like feel nyo tinatapon lang ang pera.

when you buy a house and lot, may babayaran kapa mga real estate taxes every year and of course maintenance mahal din because of wear and tear. tutulo ang roof, repaint, piping problems, water pump, etc. etc. after 10 years. renovate na

in renting, wala kana iproproblema, and may nakatabi kang pera just in case kelangan. if you put almost all your money in buying a house, mahirap na if you need the money matagal magdispose ng real estate, unlike kotse mabilis lang.

the interest your money will earn instead of buying a house is usually enough to cover the rental. and the interest rates here talaga mataas, 10-13% per year so pag mag housing loan ka lugi ka for me. pag 5 years to pay edi parang nagbayad kana ng 40% more siguro

masarap nga maging tenant, as long as responsible and accommodating yung landlord mo. no headaches.

but how is the housing market there these days? kasi, the one thing you didn't mention is the appreciation in the home value, which could be a huge benefit. i have certain family members over there that built a house for 2 million and received offers to buy it for P15 million after 12 years of living there.

**Flagg** · March 21st, 2006 03:42 AM

Kawawa ngayon real estate. Now is the time to buy. Wag po condo sir theveed, mga monthly dues dun parang nagre-rent ka.

**chieffy** · March 21st, 2006 10:34 AM

theveed search for the number of Larry Gamboa (Think Rich Pinoy)...di ko maibigay number at nakakahon kasi ibang gamit namin ngayon dahil sa paglilipat bahay...

panigurado may rent to own units iyon...

**1D4LV** · March 21st, 2006 10:37 AM

theveed, actually yan din dilemna ko eh.
i want to sell my townhouse. naliliitan na kami ng family ko eh. pero ang laki ng downpayment. normally around 20-30%. not to mention yung annual interest rates ng bank.

kaya i'm also looking for units that are avaiable on a rent to own basis.

**baiskee** · March 21st, 2006 10:46 AM

Originally Posted by Sheep

true indeed but when you are older and just relying on your pension and the allowance your children is giving you it is better to have a place of your own

and wouldnt it be nice if even for once in your lifetime you can say nagkalupa ako i own this piece of land may sarili akong bahay which eventually you can also give to your child

agree. buying these kind of assets would be long term ang value nya.

mabuti na isipin mo yung gastos sa sarili mong bahay kesa gastos para sa ibang nagmamayari ng bahay.

pano pag ubos na pera mo pang rent? palalayasin ka na lang...

**Altis6453** · March 21st, 2006 11:12 AM

Very difficult to get a house on a rent to own basis unless the original owner sells it that way. Several Eastwood City condos are being sold that way. Yun nga lang, there are balloon payments every 10 or 12 months. Ok lang naman yung condo dues when you consider that the condo corp. provides 24 hour security, cleaning and maintenance of the common areas, plus repair service for your unit. Not for a growing family though unless you get those really big units (100 sqm and above).

One way to get the house you want at a cheaper rate is to scan the papers for auctions conducted by banks for repossessed property. You only need to pay around 10% of the price as downpayment, with the balance given to you as a loan. I think UCPB does that. 10% down, 10% interest p.a. They do auctions just about quarterly. Just inspect the property you intend to acquire since they are not new and most likely need some repairs done.

Also, be aware that the P2M to P3M range will get you a small house and lot (usually a small townhouse) if it's located within the major cities. Property in that price range but with bigger areas are located outside of the city (think Sta. Rosa or way south).

Hope this helps!

**orly_andico** · March 21st, 2006 11:48 AM

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..

**wulf** · March 21st, 2006 12:01 PM

sir orly,pa-pm din =) thanks for sharing

**karl88** · March 21st, 2006 12:21 PM

Originally Posted by happy_gilmore

theveed, actually yan din dilemna ko eh.
i want to sell my townhouse. naliliitan na kami ng family ko eh. pero ang laki ng downpayment. normally around 20-30%. not to mention yung annual interest rates ng bank.

kaya i'm also looking for units that are avaiable on a rent to own basis.

OT: HG pm mo naman ako details of your townhouse, im looking for one eh!