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Showing posts from May, 2017

Condo Buying in the Philippines

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Interested to buy properties in the Philippines? Yes you may but you have to brace yourself as it is entirely a different scenario and processes compared to what we have here in the U.S. Yes, it is a very wise investment I should say. I have wanted to buy a condo at The Fort Bonifacio Global City. My two sons who were based in Manila since 2008 and 2012 respectively work and train in the area. Very convenient for them since almost everything is walking distance. You know how bad traffic is everywhere so this is really a big factor. BGC as what they call it short for Bonifacio Global City is considered high end area that surpassed the status of Makati nowadays. The municipality of Makati once tried to claim a portion of BGC for this obvious reason. I want to kick myself for not buying at least one at that time when the pre-selling price was just a million pesos or two. Nowadays it is on a whopping 8.5 million pesos for a decent one bedroom with very small kitchen, bath and living room…

Why Rent If I Can Buy?

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When I meet potential buyers who have been renting for quite a while but fully qualified for a loan; I feel bad for the lost years they have been paying the mortgage for the landlords and earning equity for them. The irony of it is there are lots of people trying hard to buy a home but due to previous unfortunate situations cannot get approved for a loan. They have to wait years to maintain good credit scores again before it happen. I have to admit it’s not a smooth ride from getting loan pre qualifications to approvals; searching online and drive around on weekends; meeting with your real estate agent to look for potential homes. The stress and excitement of submitting an offer until either accepted or denied. The start of inspections, appraisals, more negotiations along the way until the nerve wracking final approval from the loan. The walk through moment, transferring utilities, changing address and the whole process of moving in. Then you ask yourself, is this really happening? I…