5 things you need to IDENTIFY before buying your OWN house and lot.

Base on my research and consultations with friends from the field of real estate, I come with things to consider when investing into a property (house and lot) here in the Philippines.

1. Identify what kind of house do you want.




There's a lot of house type to choose from. There's single-detached, single-attached, duplex, townhouse and rowhouse.There will be a lot of jargons that you'll encounter when you inquire about house and lot. Lot area refers to the size of the lot while floor area refers to the size of the house.Of course, the bigger the lot you acquire, the higher the price.

2. Identify your preferred location.




You need to consider the proximity of the area from your workplace or for your children's welfare in case you're a family person. The place should also be accessible to public transportation especially if you don't have a private service. Accessibility to all basic establishments like hospital, schools, markets, malls, banks and others. The place should also be safe and secured. The village should have the amenities or facilities that will mostly beneficial to you and your family. Do a background research on your chosen agent and developer to make sure you're in good hands.

3. Identify your capacity to pay.




Conduct a financial scan if you can sustain buying a house and lot with your current resources. You don't want buying a property but end up indebted since you didn't plan well your purchase. There's a lot of options that can help you pay for your own house and lot. There are inhouse, bank and PAG-IBIG financing you can choose from.

4. Identify the required documents.




Prepare the basics like a photocopy of your ID, payslip, marriage certificate (if you're married), TIN # and the like. Your agent will give you the exact requirements you need to prepare.

5. Identify the amount of down payment or apply for a housing loan.

For rent to own house and lot, buyer can pay the down payment (usually 20%) within 8 to 24 months depending on the developer’s policy or terms (at 0% interest rate). You need to provide post dated checks for the DP. After paying the down-payment (the whole 20%), the developer will start the construction (your chosen house model). Construction takes about 6 to 8 months and during the construction you should be at least processing your loan applications. Aside from passing all the necessary requirements/documents, House should be at least 80% complete in order for banks to appraise and approve your loan.

Considering all of these, I would like to share to you a great investment for you and your family. It's #LancasterNewCity!

LANCASTER NEW CITY's initial phase of development is set to plant it roots in the community and eventually grow into a full-fledged "new town", similar to the ones we currently see in prime locations around Asia.









Shopping is just around the corner with LANCASTER SQUARE. Quality education is just a few blocks away at the ST. EDWARD INTEGRATED SCHOOL. Family fun and celebrations are right next door at the LEIGHTON HALL clubhouse, with a pool and function rooms for special events. The CHURCH OF THE HOLY FAMILY is just within walking distance, and work can be just a few minutes away at the SUNTECH IT PARK. Being just 15 minutes away from Manila via Cavitex, LANCASTER NEW CITY is set to become the most accessible new town from Manila, and first of its kind of development in Cavite.






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