Some Features of an Eco-Friendly Home

Cost, location and appearance are usually the main factors that people take into account when they look for a house to buy. However, now that people are becoming more and more aware of the impact of their actions on the earth, they are also realizing the importance of including the friendliness of their homes to the environment as one criterion.

If you want to ensure that you focus on houses for sale that are on the eco-friendly side, pay attention to the following home features. (Helpful tip: If you are looking for an environmentally friendly condo for sale, some of these factors can help, too.)

·         The lay of the land(scape)

If you have kids that enjoy outdoor play or you yourself love spending time tending to plants, you might benefit from having a big garden or yard, but you probably won’t be too pleased as far as water conservation is concerned. When you have an extensive landscape, you have to maintain in with quite a lot of water. If you absolutely can’t live without a garden, make sure that you pick a house with a landscape that is designed to be water-saving. If you’re concerned about your children’s health and enjoyment, you should choose a home near a playground or park; where they can be free to mingle with other kids while at play.

·         The placement of the windows

See to it that the windows are located in areas of the house that receive a great about of sun, and that they are wide enough to let in as much light as possible. In the morning and afternoon, don’t turn on the lights; instead, take advantage of the natural light streaming in while you work or hang out. Doing so will lower your use of energy and reduce your greenhouse gas emission, and will also ensure that your power bills aren’t always sky-high.

·         The energy consumption of appliances

If appliances are included in the house when the owners sell it, find out if they are guaranteed to use little power when being operated by checking if they are carrying the Energy Star label. If they are not energy efficient and are also pretty old to boot, get rid of them and buy ones that are energy-saving.

·         The proximity to other locations

Your car releases carbon into the air and adds to pollution whenever you use it, whether to your workplace, a restaurant, a bank or any other place you go to often. Choose a property that is close enough to these places that you can just walk or ride your bike so you won’t find the need to constantly use your car.

People who are searching for condos or houses to purchase should bear these in mind so they are sure to buy a home that meets their environmentally friendly standards.

Condo Buying: Top Things to Consider

A lot of deliberation goes into investing in a property like a condo. When you make an error in real estate, it can cost you a lot of money, so you have to know how to look at your present situation and what can happen in the future. If buying a condo is in your immediate plans, these are some of the things you should keep in mind.

1.       Your purpose for purchasing a condo

Is the condo for sale you want to buy for your own use or for investing your money in? You have to think about this because personal preferences can be very different for an investor and a resident. When an end user chooses a condo, he chooses one for that he knows he can use for a long time so factors like durability and comfort are important to him. An investor, on the other hand, considers buying a condo a business decision, which means that his purchase has to be something that will get him a nice return in the years to come.

2.       Your financial situation

Everyone knows that when you buy real estate properties like condos, you are not just spending to pay for the price of the unit itself. There are other costs that you need to take care of in the months or years that you own the property, like property taxes and association fees. This is the reason why you have to view your financial standing from today until the next few years: how stable is your source of income, and can you handle years of monthly amortization payments? After paying your amortization every month, how much money will you have to pay for emergencies and basic necessities?

3.       The location of the unit

Location is a very important characteristic of a condo, and it affects the choice of either an investor or an end user. Before settling for a building, see for yourself its proximity to business districts, public transport systems and other places of interest. Pay attention to the level of safety surrounding the condo, too; no person would choose to live in an area full of crime, whether it be you or a tenant you want to fill your rental with.

4.       The rules and regulations

You can choose a condo to buy when you assess the things that you are allowed and prohibited to do; for instance, it would be imperative for you to discover early on what their policies are regarding issues like pet ownership and unit renovations. Finding out how capable the manager of the property is in doing his job is also essential, since they are in charge of the maintenance of the common areas and the amenities of the condominium. In addition, they make sure that rules and regulations are implemented and followed to prevent issues from arising.

You have to be fully prepared when doing something as big as buying a condo; it is a very costly decision that should be taken seriously. You can make things a lot easier by hiring a good real estate agent, but it’s important that you don’t leave all the research up to them; it’s you who’ll be living in the place, anyway, not them.

Things You Need to Ask in an Open House

To people who want to buy a house for sale, one of the things they do to find out how nice a house really looks and how well it is built is through an open house. Still, you can’t learn everything you need to know about a particular property through mere observation. If you are attending an open house, be sure to toss these questions out to the agent showing the property.

1.       “Why are the owners selling?”

More often than not, the real estate agent at the showing of a home dodges this kind of question. There’s no harm in trying so you might as well ask; who knows what the agent might accidentally reveal about the sale? The reason why you should ask is that this information can be valuable come negotiation time: for example, if the owners are selling because they are getting a divorce, this could be an indication that they need the money and that they are working with a deadline.

2.       “How long have the owners been trying to sell?”

A house that has been on sale for quite a while is losing value the longer it’s in the market. There is a chance that the homeowners will accept or at least consider an offer that’s not quite what they want for their home if the property has not received any offers yet.

3.       “How many buyers have made an offer so far?”

This question is for you to find out if you will be facing stiff competition for the house, as well as how many there are. Further your questioning by asking if the seller has rejected any offers to buy and their reason why. With this information, you can create a better offer for the seller to increase your chance of outbidding other buyers.

4.       “Is the house being sold with liens attached?”

Once you’ve finalized the purchase of a house, the last thing you want to hear is that it has liens attached to it. Make sure, before you get to the negotiation stage, that you ask the agent if there are any tax or construction liens to the house, and if the homeowner has any unpaid debt that will give you reason to worry about creditors or homeowner associations coming after the property.

5.       Will owning the property cost the buyer anything else?

If you are looking at a house, don’t forget to contact the homeowners association and ask about their rules and regulations so you’ll know if you have to worry about any conflict, such as with having a pet. For people who want to buy a condo for sale, you need to know right away about the association dues and the taxes and evaluations that you need to handle to own a condo. By finding out details like these, you are safeguarded from the shock of having to pay additional costs that you didn’t know about earlier.

Whatever you find out about the property, such as fees and liens, make sure to have them in writing. In addition, it’s always wiser to get a home inspector to see the house even if the seller or the agent has assured you that there are no major concerns that you need to worry about.

Is a Condo Unit Favorable for Your College Kid?

On the arrival of the school term 2012-2013, aside from assisting their children in choosing a school to enroll in and a course to take, parents are also on the quest to help their children look for a place to reside in while in college, particularly if the chosen school is far from their home. A dorm room close to the campus is the usual choice for a student, but because of the increase of condo developments, they are beginning to see the possibilities of living in a condo.

While there are a lot of advantages to living in a condo, people who choose to stay in them also experience quite a few drawbacks. If you are thinking about buying a condo for sale as a place for your college kid, these are some things that you should think about.

Price

A condo unit can cost quite a lot of money, and paying the actual cost of the unit itself is only the beginning. There are a lot of financial obligations that you need to think about, too, such as association dues, home insurance and property taxes, all of which you need to pay even though your child will probably only need it for the 4 or 5 years he will be in college. Put in another way, the great thing about a condo is it can pay for itself one day; after your kid has graduated, you can either sell it or offer it as a rental.

Privacy

One of the things that condo residents take pleasure in is privacy, and this factor can come in handy for college students who need peace and quiet when they study. On the downside, students who prefer to socialize with others might find condo living a bit too quiet and lonesome.

Protection

Because condos have guards to keep the building safe day and night, as well as cameras that monitor everything that happens, you won’t lose sleep thinking about your child’s safety. Unlike dormitories and their rules, however, condo boards don’t force residents to stick to a curfew, so even late into the night, you might find people still coming and going.

Closeness to businesses

Can your kid get from the condo to essential businesses like 24-hour convenience stores with no trouble? When he’s in college, your kid will have to get used to staying up very late at night, so if he doesn’t have some sort of vehicle on hand, it’s necessary that he be able to get to these establishments on foot. Still, if they live in the heart of a well-known hotspot, the noise and the traffic can be a distraction to them.

Even if you want to be able to hold on to your children and keep them home, they have to grow up and become independent eventually so that they’ll be ready when they start working. In the end, it doesn’t matter if you choose a condo or a student dorm for them; what matters is that their residence will not compromise their schooling, development and security.

How to Apply for a Pag-IBIG Housing Loan

These are the documentary and technical requirements that you will need when you apply for a home loan from Pag-IBIG Fund.

Documentary requirements

-          Borrower’s most recent ID pictures and Pad-IBIG Housing Loan Application Form (PHLAF)

-          MSVS or Membership Status Verification Slip

-          Proof of income, such as an employment contract for OFWs, an income tax return for locally employed members and bank statement for the last year for those who are self-employed

-          A valid ID, photocopied back-to-back, of the principal borrower and spouse, co-borrower and spouse and attorney-in-fact, if required (During validation, the same valid ID should be presented)

-          Authorization to conduct an investigation on the member’s credit background

-          OFW additional requirement – Special Power of Attorney (should have been notarized before member has left the country, or is duly certified and authenticated by the Philippine embassy of the nation where he is currently employed)

-          Insurance coverage

* If borrower is over 60 – health statement form and full medical examination

* If borrower is an OFW over 60 or is over 60 and loaning over P2 million – health statement form

-          Marriage contract for married borrowers and co-borrowers

-          Proof of relationship if with a co-borrower (birth certificate, etc.)

Technical requirements

-          A Registry of Deeds certified true copy of the Transfer Certificate of Title or TCT, or the Condominium Certificate of Title or CCT

-          Vicinity map or location plan

-          Photocopy of the real estate tax receipt and the tax declaration

Requirements based on purpose of loan

-          For a residential property purchase – agreement between the buyer and the seller, such as a contract to sell

-          For a loan refinancing:

* A statement of account on the outstanding balance of the loan

* Either an official receipt or a valid proof of payment from the past year, or a subsidiary ledger

-          For the construction of a house, the purchase of a lot for building a house or for improving a home – building plans, specification and bill of construction materials endorsed by the licensed architect or civil engineer

To apply for Pag-IBIG Fund’s Housing Loan, head to the Pag-IBIG NCR or regional branch, present a valid ID and claim an MSVS. After filling it up and giving it to them, it will be given back to you, as well as an acknowledgement receipt, the PHLAF and the Checklist of Requirements.

Go to the Pag-IBIG NCR/regional branch that has territorial jurisdiction over the property for which you are applying for a loan. This is where you will hand over two accomplished copies of the PHLAF together with the documents required of your loan. Update or fill up the information on the Membership Registration System online to claim the computer-generated Member’s Data Form (MDF), which contains the registration tracking number (RTN).

Get a payment order form (POF), show it to the cashier and hand over a P1,000 processing fee so that you will receive a Pag-IBIG Fund Receipt (PFR). Have the PFR photocopied, take the copy to the Member Services Support Division-Servicing Department (NCR) or the Housing Loans Division (regional branches) and surrender it for the acknowledgement receipt.

(If the Mortgage Loans Specialist finds anything notable while doing the member’s credit investigation, he will let the member know within 5 working days. The property appraiser will inform the member about the schedule of the evaluation within 5 working days, and will let the member know of any findings 2 days following the appraisal.)

In the next (and last) article of this series, the approval and release of the loan will be discussed.

Advantages of Investing in Cebu Real Estate

The present condition of Metro Manila these days in terms of people and traffic have become unbearable that it is driving people to consider living in other places. Even though a lot of people ponder going overseas and living there, there are those that still think that staying in the Philippines is a better choice, and Cebu is one of the places that they consider moving to for a change of pace and scenery.

As great as it sounds to partake on dried mangoes and celebrate during the Sinulog Festival, these are not the only reasons why Cebu is seen as one of the Philippines main destinations for tourists. Because of the continuous efforts to develop the real estate and infrastructure of the Queen City of the South, many local property experts believe that Cebu is truly golden when it comes to relocation. There are a lot of benefits to buying a Cebu house for sale, and the ones listed here are only some of them.

1.       Cebu can be found in a location that a lot of local and foreign investors find to be strategic. As a matter of fact, you will find over 80% of the country’s inter-island shipping activity in Cebu, while the export business has also been enjoying massive progress compared to other Philippine cities.

2.       Investors will also be glad to know that the cost of labor in Cebu is lower than labor in Manila, and this is because the cost of living in Cebu is lower than its northern counterpart.

3.       As an area that is highly accessible through sea and air travel, Cebu has more sea linkages and domestic and international flights than Manila. South Korea, Hong Kong, Qatar and Japan are only some of the direct international flights that the Mactan International Airport offers.

4.       A resident’s diverse knowledge of Philippine arts, religion and tradition is sure to be deepened in Cebu, as this city is rich in history and culture.

5.       People who take a lot of vacations will enjoy living in Cebu as it is very close to several beaches, and it is also a ‘doorway’ to various other tourist places like Bicol, Iloilo and Cagayan de Oro.

6.       Cebu has no volcanoes, and is also out of the typhoon belt of the Philippines. Not only that, it is not susceptible to earthquakes, which makes Cebu very safe from natural calamities.

It doesn’t matter if you want to purchase a Philippine real estate property as a residence or an investment; the developments in Cebu ensure that your purchase will be worth every peso.

Information About the Pag-IBIG Housing Loan

Not everyone is lucky enough to be able to buy a house for sale whenever they feel like it. Other than the fact that being a homeowner is a huge step that requires careful consideration, owning a home also requires quite a lot of money, which not everyone has access to. Fortunately for those who are short on finances, the Pag-IBIG Housing Loan is one of the home loan options that they have to make their dreams a reality.

The goal of the Pag-IBIG Housing Loan is to assist its members in:

a. Buying a 1,000-square meter or less, fully developed piece of land in a residential location

b. Buying a house and lot, condo unit or townhouse that has a parking space (can be an old or a new property, one that has been mortgaged with Pag-IBIG or an asset that has been acquired)

c. Having a house constructed on a piece of land that they already own

d. Paying for the improvement of a home that they own

e. Refinancing their mortgage loan (on the condition that the loan has a repayment history of at least 24 months with the original lending institution; and that, within a year before the date of the application, the loan has not been in default)

f. Financing the combination of either a and c, b and d, e and d; or refinancing the loan for a lot that was purchased for the purpose of a residential unit construction

A member borrower can avail of a Pag-IBIG Housing Loan in these three simple methods:

- The member can approach the Fund with the assistance of the developer, and the developer will offer a buyback guaranty that will take effect in case the member fails to pay his monthly contributions or his amortization payments.

- The member can apply for a loan with the help of the developer, who will not offer the guaranty of a buyback.

- If he so chooses, the member can apply for the loan himself. 

These are the eligibility requirements of members who wish to apply for a Pag-IBIG Housing Loan:

a. The member has to have been making contributions for at least 24 consecutive months as a member of Pag-IBIG I or II, or the Pag-IBIG Overseas Program (POP). If the member is short on the required number of monthly contributions, he can choose to pay a lump sum based on the mandatory monthly contribution rates for members.

b. The member should be 65 years old at most at the application date and should be eligible for insurance. He should also only be 70 years old or below when the loan reaches maturity.

c. The member should be lawfully permitted to purchase real estate property.

d. The member should pass the checks regarding his background/credit as well as his employment/business.

e. The member should have no outstanding Pag-IBIG housing loan, whether as a principal or as a co-borrower.

f. The member should never have has a Pag-IBIG housing loan that was foreclosed, cancelled, bought back because of default or undergone dacion en pago.

g. The member should, at the date of his application, not have any outstanding Pag-IBIG multi-purpose loan in arrears.

In the second part of this series, the procedures involved in a Pag-IBIG Housing Loan application will be covered.