How Filipinos Buy a House?

In the Philippines, the habit is always link to the
Filipino Culture and Values. Filipinos when they
decide to buy, decision is always based on emotions.
Feelings are attached to the property, that's why
in the Philippines, House and lot buying is not a
money making! The sad thing is, most of the Filipinos
in the states do the same, that’s why only few
Filipinos in the states make money on their House
and Lot! This is one of the main reason why only
few Filipinos could hardly get out of the so called
Rat Race!

Since our culture is family centered, I'd like to
advice the beginners, Those who are still in the
process of buying a house and lot, To see to it
that before you decide, You must have done the
due diligence, Since we considered BUYING HOUSE
AND LOT IS A GIFT TO OUR FAMILY.

Consider all of the above as far as location
is concern. There are additional few things
but very vital that i will share to you in
buying a house and lot. After considering
all of the above tips, One thing that you can
cut on cost is start it with lot only, then you
be the one to supervise on the construction of
your house. You talk to a fresh graduate on
architect not the license one, to do the design of
your house and pay him a few pesos or a thousand,
then have it signedby the license one. Do the same
process with with the electrical engineers. You save
a lot of money here and the same time you’re
motivating the new once on there profession to be
by giving them an
income, though they’re not license yet?

Remember, That the cost of the house if you
buy it as a house and lot package, as this is
the trend of the Real Estate Development right
now, If for example, the house and lot package
cost is P1,500,000.00, and the cost of the lot
is P500,000.00., The P1,000,000.00 cost of the
house has already a marked up of 30% from the
contractor who constructed the house. In effect,
the real cost of the House would cost you only
P700,000.00. You can save the P300,000.00 and
spend a little for the design, purchase of
materials and everything. It’s a
lot of savings if you know on what to do!

Weaknesses in Buying House and Lot or in Any
Investments:

* We always want the easy way though it’s
expensive in the end!
* Most of us are lazy to do research and
to learn new things.
* We always protect our comfort zone.

What Do to in order to learn the the
techniques on Real estate Investments:

* Attend seminars on Real Estate.
* Ask the experts advise.
* Self involvement.

I hope you learn some lessons on this.

Thanks for your time,


Peter E. Cadorna