Buying a Home: What is your purchasing power?

what-is-your-purchasing-power-in-real-estate-investment

Source: Eastborough Place Angono by DATEM HOMES (For Sale)

Each year millions of houses are bought and sold, but such events are irrelevant. Why? There are more or less 4.6 Millions of families are homeless in Philippines alone. And yet increasing because of massive foreclosures as a result of unstable income. No one can ever predict with certainty what can happen in the future. You may encounter a personal financial crisis such as job loss or illness that can impair your ability to pay your bills, including your mortgage. That is why we should be able to know our own purchasing power when buying a home or any real estate investments.

Here are some few steps when buying a home.

STEP 1:

Add all your total annual income. This includes your salary, business income, dividends, and other sources.

STEP 2:

Look for licensed real estate brokers and loan officers of the banks and other financial institutions. These financial advisors may give you a great help when financing your new home. Ask for an estimated monthly cost, this includes the principal plus the interest.

STEP 3:

Speak with property owners and real estate brokers to determine the property taxes in the area. Because property values may varies with respect to location.

STEP 4:

Speak with brokers and insurance advisors to determine how much property insurance will cost each month for your home. According to Money Sense (Guide to Buying Home Insurance), “Many people are not aware that home insurance is not as expensive as other types of insurance. You can get one year basic protection for a P1 million property for less than P2, 000. That’s a small amount to pay in exchange for your peace of mind. “

STEP 5:

Compute your Front-End Ratio by combining your monthly cost for mortgage principal, mortgage interest, real estate taxes and property insurance. Divide this total by your gross monthly income. This ratio indicates a portion of individual income earners is used to make mortgage payments and is expressed in percentage.

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STEP 6:

List your monthly debts include expenses such as mortgage payments, credit card payments, expenses to your child and families. Add these debts.

STEP 7:

Compute your Back-End Ratio also known as your debt-to-income ratio by combining your monthly debts with your PITI. Divide by your gross monthly income. Some lenders use this ratio in conjunction with front-end ratio to approve mortgages.

Note: Water and Electrical connection is not included in the computation because it will be a one-time payment upon the turnover of your new home. Ask the water and electrical companies near you.

Generally, most mortgage lenders prefer less than 30% of borrower’s monthly gross income. If you want to know more about real estate investment, please try to fill out the form below and ask our licensed real estate brokers for your guidance. Also please don’t forget to subscribe for our other notifications for upcoming events and newsletters.

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Rizal Real Estate at Eastborough Place Angono – Single Detached House and lot for sale with Balcony

You have just visited my advertisement as one of the most affordable house and lot package in Angono near Antipolo City!

Single-detached-house-and-lot-for-sale-3-bedrooms-200-sqm-antipolo-angono-city

Single Detached House and Lot

Single Detached Executive House and lot for sale with Balcony
Located at the boundary of Antipolo City and uptown Angono.

With 3 Bedrooms
Two Toilet and Baths
One Powder Room
Kitchen Area
Living Area
Dining Area
Service Area
Painted Exterior and White painted Interior Walls
Floor tiles at Ground floor
Vinyl tiles at Second floor
Synthetic Granite Finished Kitchen Counter Top
Wood Panel Main Door and flushed door on bedrooms
With provisions for 2 car garage

Lots are available from 170 square meters to 300 square meters.

Should you be interested? You can reached me through +63927-882-5518(GLOBE Network) or +63947-132-3705 (Smart).

Real Estate – Eastborough Place in Angono, Rizal Province

Eastborough Place Angono

by DATEM HOMES 

A lifestyle of Modern Living

affordable-house-and-lot-in-angono-rizal-taytay-binangonan-properties-rent-to-own-eastborough

The Clubhouse at Eastborough Place Angono

An exclusive subdivision with complete amenities and overlooking place with sunrise and sunset view, city view in Ortigas Center Pasig City and Laguna de Bay.  An escape from an stressful work city living in Metro Manila.

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The Park @ Eastborough Place

Eastborough Place is very near in Schools, Lores Commercial Center, SM Hypermarket, Shopwise, Hospitals and Antipolo Church.

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Best Place to Unwind with your Family that you can call HOME

Nice place for relaxations …… Best to unwind and refresh your thoughts and memories.

One of our Unit For Sale

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The Single Attached (Basic)

This unit is Basic (No Partition). It says NO PARTITION, because we let our clients decide on how many bedrooms that they want to set.

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The Bedroom and Actual Turnover

It could be a 2-bedroom or 3-bedrooms in second floor of the unit. Also, it will gave more savings on construction cost because the client  could choose either 1-bedroom or 2-bedroom unit. It has a 47 square meters of floor area and 75 square meters of its typical lot area. The client may choose larger lots for a bigger playground for your family. Take note, the prime lots in Eastborough Place are titled!

Why choose Eastborough Place?

1. The developer, DATEM Inc., has credibility because it finishes wide range of clients allowed the firm to develop projects.

2. TOP developers like Greenfield District, Ayala Land Premier, Rockwell Land and Shangri-la trusted DATEM as their GENERAL CONTRACTOR.

3. DATEM Construction is accredited as TRIPLE A CONSTRUCTION Company in Philippines. Listed as the BEST of the BEST in Construction Technology. 

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Listed as TRIPLE A Contractor.

If you want to know more about the project and should you be interested? Please fill-up the form below, or Call +63927-882-5518.