Buying a house is a huge step you can make for your family. That is why it is important that every hard-earned money is going to be worth it in purchasing a physical space where you can spend quality time with your loved ones and where family members can grow and thrive as individuals.
If you are deciding on living in Cavite, you are in luck because this is one of the most convenient places to live in Luzon. Living in Cavite feels like everything you wish to do with your loved ones is always conveniently within your reach. It almost feels like it is strategically placed between the urban and rural gems of Metro Manila and the South of Luzon. It is only minutes near major business districts like Makati, Bonifacio Global City, and even Alabang. Cavite is also a place for newly-emerged industrial parks. If you feel like spending the weekends off, you can always head anywhere around Cavite to visit hidden gems that are near enough to ride along with your spontaneity. What else? Living here not only is close to job opportunities, but Cavite is also known for its good schools to send your children, and commercialized establishments to suit your every basic need. If you want to learn more about why Cavite is the best place to live, you may read our article here.
Even though these things sound exciting, we all know that houses aren’t always the most affordable purchases you can make in your lifetime. It would normally take years (or even decades) of investment to finally afford one. And before you even know it, prices are high up again because of inflation. But the good news is, you can purchase a house and lot at an affordable price if you only take an extra effort to maximize your options and not throw your money rashly. We hear you. That is why we provided tips to buy an affordable house and lot in Cavite!
1. Consider your income bracket.
First, you have to be realistic. You need to first assess how much you are willing to allot in your budget in buying a house for your family. We suggest you take time to really sit down and make a budget plan for all your expenses when planning to buy a home. With this income bracket, can you afford to buy a house and lot on pre-selling or not? You need to be clear about your financial goals when planning to buy a house and a lot. Remember, this is a building on top of a soil where you will go home every day for as long as you prefer. This is where your children will come home, so make sure that you are going to love this place and not hate coming home to it because you spent more than what you can afford.
2. Research on the area you want to live in.
Prices of properties vary depending on the location. For example, Metro Manila’s real estate is more expe than real estate properties in Cavite. This is because within the limited space, a lot of things are happening there, from the plethora of job opportunities, safety, and more. In most remote areas that are not yet developed in urban standards, houses and lots are a lot cheaper there, but at the cost of being away from quality hospitals, recreational activities, schools, or even job opportunities. Our advice is to know exactly what kind of community you prefer to live in, depending on your desired lifestyle. The last thing you want to happen to you is to own a house but away from the things and places you need to survive and the things that spark joy to you.
3. Find pre-selling rates
What are pre-selling rates?
Pre-selling rates are the kind of rates being offered when a property is only in the early stages of its development. Do you know how that saying goes? The early bird catches the early worm – and this is especially relevant in ever buying your house and lot.
If you decide to buy a house in Cavite and look into good deals, you can check out our model houses in Noveleta, Cavite. The projects are still on-going and you can scout for better deals the earlier you close an agreement with us. We offer only world-class and luxurious houses that you and your family will surely love. No time to visit our sites? Worry not, because you can check out our Summer Pine Subdivision Virtual Tours. It would almost feel like you are really there, and you wouldn’t even know the difference!
4. Find flexible payment terms.
Now that you already know your budget, where you want to live, and where to look for affordable houses at a cheaper rate, you will need to find flexible payment terms. You can discuss with your developer how you can pay your fees. Do you opt for rent-to-own? Will you pay in full? Or will you need financial assistance? One way to access more viable payment terms is a PAG-IBIG housing loan called the Home Development Mutual Fund (HDMF). PAG-IBIG has been continuously helpful, especially for those who want to build homes for their family. You can avail of this even if you are an OFW and cannot physically come to the Philippines yet. While this may be a convenient option, PAG-IBIG carefully chooses properties where you can avail of this loan, and Bilkenn has kept a good track record for HDMFapprovals. We wrote an article about how to apply for PAG-IBIG’s HDMF:
How to Apply for PAG-IBIG Housing Loan (non-OFW’s)
How to Apply for PAG-IBIG Housing Loan (OFW’s)
If you are interested in living in only one of best areas in Cavite with superb security and charming elegance, you can follow these additional steps in getting your dream house:
- Inquiry. Contact our sales team to assist you in finding the best property for your goal and budget.
- Tripping. Schedule the time and date with our Sales Team or accomplish the appointment form to visit our project site in Cavite. Our Sales Team will tour you around our house model units and answer all your inquiries. We can provide a Tripping Vehicle to serve as your transportation. If you are currently abroad, then your family’s representatives can do the trip for you.
You can also tour virtually! You can go to our Virtual tours pages to walk around all our model units using any device!
- Fees Payment. You can pay the Reservation Fee of PHP 20,000 to any Bilkenn Staff or deposit it to our bank account (Bank: Asia United Bank, Account Number: 538-01-0000768, Account Name: Bilkenn Corporation). Request for a Provisional Receipt. This amount is Non-Refundable.
- Reservation Agreement. Spend a couple of minutes to review the Reservation Agreement before signing. Take note of the date that you signed the Reservation Agreement.
- Documentation. Clients will have a set amount of days to complete the requirements. Please request a Requirements Checklist from any Bilkenn staff. It should be noted that failure to submit any of the conditions may terminate the contract and reservation.
Our Bilkenn Loan Processing Department will assist you! However, the final assessment that leads to the approval or denial of the loan is up to the financial institutions.
- Turnover. We project the completion of your house’s construction two months after full payment of Down Payment / Equity with a grace period of 12 months within which to complete the same unless prevented by “force majeure”.
With this guide, we hope you have a better understanding of what needs to be done to secure your dream house! We hope to hear from you soon!