Tips And advice In Getting Your Dream Home

I am bit reluctant in writing this post as I do not consider myself a "guru" when it comes to building homes and buying properties, but the fact that I have already acquired several properties to my credit, would somehow place me in a position to at least share my own personal experiences. 

Why did I decide to write this post?

It's because I've been constantly reading posts and articles from various blogs listing, "owning homes" as one of their top goals for 2013.  Besides, I always hear this personally from my staff and colleagues at work.  They're all saying that they are dreaming of having their own homes one day.  I've been listening to their stories and plans, and most of them are considering to apply for a housing loan while others are wanting to save for a lot purchase which never materialized even after several years of working abroad.  It's too bad that some of them realized the necessity of having their own homes a little bit too late.  Out of desperation, they would resort to getting a housing loan from a developer with 20 to 30 years payment terms, which I personally think is not a good idea especially so, if you are already in the middle age bracket.  Maybe a maximum of 10 years payment terms would be acceptable but a 5 year term is most preferable.  

Admittedly, getting a housing loan never crossed my mind even if I don't have enough funds to pay in cash.  I don't like to welcome the idea of going into debts or would I say, I hate taking risks. Pardon me but this has been my guiding principle.  I used to tell my staff before and even my friends that taking risks only applies to those who are single as nobody depends on them, but the moment you already have a family, the last thing that you would do is to compromise the future of your children.  I do not wish to enter into something that  I don't have any assurance. In other words, I started by purchasing a simple house which we bought at a cheaper price from what we have on hand.  Living in your own home would set you free from monthly rental fees which eats up a big percentage of your monthly income. That monthly rental fees that we saved out of owning a modest home were saved and used to improve the house that we bought. Yearly, we would introduce some minor renovations and expansions until we get satisfied with how the house looks. We do it on a staggered basis, out of "little savings" that we have from our fixed monthly incomes. The result? We save on interest should we resorted to getting loans.  Not only that, I learned that real estate developers or even PAG IBIG would foreclose your properties should you fail to remit your monthly amortization for 3 consecutive months.  That time, I was trying to be realistic. "What if we lose our jobs"?  How are we going to pay for the loan?  "Would I lose my house eventually after paying for it for several years?"  These are the questions that keep on bombarding me.  This pushed me to discipline myself and strive to achieve what I want in a timely manner.

When I was working in the Philippines,  I never spent my 13th month pay and was saving a part of my husband's earnings.  I saved some amount every year. The savings were used for the first purchase of a property that comes with an "affordable price".  We continually worked on improving the property until it increased it's market value.  After few years of staying there, opportunities come our way.  We were blessed having good paying jobs.  As our income increases and so are the needs of the family.  We need a car and after buying a car, we realized that we wanted a bigger yard, a garage and a bigger space to tender a garden.  We began scouting for another property that we can afford to pay in cash, I mean from our savings, until we've found one.  We love the piece of land so much and the location of the subdivision but the price is a bit higher than what we have in hand. Using my charms (ehem), my husband and I were able to convince the seller (who was sending his daughter to college that time and wanting a sure monthly remittance) to allow us to pay the balance in 2 to 3 years time without interest. Without interest? Yes, believe it or not, he agreed!  Call it divine intervention, but I really believe in the power of prayers. :)

We tried to live modestly for more than 2 years while we pay off the balance of the lot and slowly building the house.  We are debt free after almost 3 years time and the house was completely finished.  To be realistic, I estimate 3 years to be a safe time frame and we stick to our time table.  When we moved in to the new house (the second one), I was able to derive a fixed income out of the rental of the first house and we are able to use that to finance the required maintenance for both houses and to introduce some improvements, too.  That amount, plus our personal savings were used for expansion and designing the house the way we wanted it. Needless to say, we succeed!

From there, we have moved on to a third property and we are adopting the same concept.  I'm happy to say that I will be done paying all the balance this year for that third investment. God's gift!

To sum up this post, I would like to attribute our success to the following virtues:
  1. Discipline
  2. Perseverance
  3. Team work
  4. Determination
  5. Hard work
  6. Faith in God
  7. Believing in our dreams
To end up, I would just like to share what I always tell to my children....

I always achieve my goals most of the time because I value hard work and I always strive to be the best of what I can be. I used to tell them, "Hindi pwedeng pwede na".  You always have to give your best in whatever you do.  That, coupled with prayers and a strong faith in God and in yourself will bring you to achieving your goals no matter how high or simple it is.  


Comments

  1. Ang galing sis! Thats what I admire abiut u the most. You are a very good planner and very disiplined just to achieve what you want. Ikaw na talaga. In fairness ang galing talaga. Gagawin ko yung mga tips mo once keri na namin bumili ng house on our own.

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    1. Thank you Ning! I just write this post to inspire others to achieve whatever their goals are. Sabi nga, "Nasa Dyos ang awa, nasa tao ang gawa". Sometimes we never realize that God is providing us means to achieve our dreams, but we need to find his message. If God gave you the talent to do things, that's because He wanted you to use that talent to work hard and bring u to where you want.

      God Bless!

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    2. Amen! I'm gathering inspiration from you. Im very disorganize kasi kung minsan. I tend to lose out of focus. Kaya kapag ganun ako, iisipin ko yung determinasyon mo.

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  2. good for you... been wanting to have my own place but because i am a singlemom and a breadwinner at that saving is something that I have been neglecting for the past couple of years... Rosemarie/Gven-Rose

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  3. wow. nakakainspire talaga ito. yung sa amin naman is we started to pay for the downpayment, pero we are saving for an emergency fund at the same time.

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    1. Thank you Sis! It's good that you started early. Good budgeting will help. Just continue to save funds for emergency and as much as possible, try to pay off early to avoid complications.

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  4. It really pays to start early! my brother and i took out a pag-ibig loan for our condo units. Right now, I don't really feel the monthly payments anymore because I'm used to it. But you're right, it definitely depends on being employed and having continuous income otherwise mawawala lang lahat. And 30 years is a long time. Haha.

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    1. You're correct at that! Well, investing on a condo would be a good start and eventually, you can venture into something big and exciting. Just pay it as early as you could to save on interest and to avoid the risks of losing the property.

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  5. I've been getting anxious lately about buying a home and this post has helped me to calm down. When the time is right, everything will just fall into place. The right house, location, and price. :)

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    1. Yes Sis. Proper planning is important if we want to avoid regretting in the end. Everything should be carefully studied and if the righ time comes, there's no turning back! Good Luck Sis!

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  6. Wow, this post came at the right moment. We just made reservations for a lot yesterday! It's on loan, though, as we're still very young (I'm 23) and haven't made enough savings to buy a property. However, we plan to pay the debt off as soon as we can!

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    1. That's good Maan! It pays to start early. Sabi nga ang magagawa ngayon wag nang ipagpabukas pa. Time is gold!

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  7. Great post. Very inspiring po. Soon, we too are going to stay on our own place. All with God's blessings. :)

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    1. Thank you Rizza! Just keep on believing and keep on dreaming. Everything will fall into place at the right time in God's will but there should be efforts exerted of course. Good Luck!

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  8. That is indeed sound advice. It sounds so much on how my mom would say it too. Owning something is really a dream worth achieving and discipline is always the key.

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  9. That's a good advise to give to your kids and anyone for that matter. We all should learn to veer from the "pwede na yan" mentality. Striving for excellence in whatever we do should always be the mind set.

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    1. Definitely Sis! I adapt this mentality since I was in college until I started working and the end result is quite fulfilling. We may have a number of sacrifices and difficulties in the process but it's all worth it when you started reaping the fruits of your labor.

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  10. Glad to read that you have your dream house and achieved it on your own terms.

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  11. Happy to have read this story. Hard work is really key.

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  12. Very inspiring! :) I can use this as a guide to achieve my dream home.

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    1. Thanks Aby! You're still young and you have a lot of time to do it but the best time to start is when you are single, young and productive.

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  13. Nice post, sis!I often read about OFWs wasting money whenever they come home, like I saw on TV an OFW setting aside P200,000 just to treat friends and another having an old phone but with children having the latest gadgets. You did well sis and I salute you for it!

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    1. Thank u Sis! OFW's should start thinking of investing into something that they could benefit in the end. It's not easy to spend years away from home and sacrifices should have a good end result.

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  14. Thanks for sharing. We're planning to start building our own home this year but we need the help of Pag-ibig to realize it. Like you our 13th month pay were deposited right away in the bank for our another piece of land amortization.

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  15. i'm happy for you and thanks for sharing your experience

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  16. Inspiring! I think you are lucky to have such members in your family because you are able to perseveringly stick to the values you have enlisted above with their help. :)

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    1. Yes Sis! It should a family effort. Even the kids should contribute by being wary about their spending and prioritizing their needs over their wants. Team work is the key. :)

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  17. That is inspiring! I have always wanted to have our own house. May I know how much you saved for your three homes? With how much should I start? Did you buy your lot with house already?

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    1. The first house, yes! But I've done a lot of renovations to the house as we bought the land and the house really bare, that's why it was a lot cheaper. Now somebody want to buy it from me for 2.5M but I still don't want to sell. The second house is more expensive than the first one as I've invested more to this house coz this is where we reside. It's big na if you get the total for the 3 investments but I don't want to go into the details here. If you want to start now, you should be having at least 600K on hand to begin with. It was different few years ago as the prices of the real estate then is still lower.

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    2. I have to have a lot on hand na pala. Buying real estate now is more expensive than before. Plus there are renovations to do pa. Thanks for the info Krizza!

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  18. That is a nice attitude to pass to your children. Your story is both motivating and inspiring.

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  19. Great tips. My parents did almost the same thing. They gradually develop our through the years. Our house was a work in progress for 20 years. :D

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  20. Wow! Your story motivates me to work harder. :) I'm also afraid of debt and would rather save and invest first until I'm able to grow enough funds for a house. :)

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  21. I like the listed virtues esp. Discipline!

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  22. These are great tips. Actually we are paying for the monthly amortization of our house right now. We still have 5 more years. Our house is okay but this is not my dream house yet. I want a farm house kasi, hehe. I love this post. It inspires me much and it is so true. We try to live modestly so we can finish the payment of our house and can save still. :)

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  23. Great attitude for success. DI pede and pwede na. :) Thanks for shaing.

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  24. This is very inspiring and you are admirable. I am of those who did a loan from PAG-IBIG. Now that I have paid for almost 10 years but very little amount was deducted from the principal amount, I want to regret that I loaned from them.

    God has been good to you. I think there is no accident in all of the events you've shared here, affordable house, good-paying jobs etc.

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  25. Excellent post. Homeowner-ship is one the major goals people have in the USA and I support it. Your post is inspiring... Following you now on GFC.
    Eliz bc blogger

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  26. You have inspired a lot with your post including me. I must say that this a timely advice for me specially now that we're planning to loan for a house. My family is growing bigger and monthly house rentals are just too much for our finances. Again, thank you so much. You have enlightened me today. God bless. :-)

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  27. It was a good idea for you to post something about this topic. A lot including myself, wishes to own their house. Like Michelle, my family is growing so we needed a bigger space. Luckily my parents allowed us to reconstruct their house so we'd have a space we could call our own. But we still do want to own our house someday. Your tips will be very helpful.

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  28. That's a very inspirational post there. This is also one of my major goal in life.. of course aside from having my own successful family. I've been thinking and planning of this for a long time now, I think the idea of buying and renting is a good one. I think I'll adapt that.

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  29. You have shared useful tips and advice on getting your dream house. It is very useful and helpful article
    Upholstery

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