Avida, the affordable housing arm of Ayala Land, offers a choice of five residential condominiums in Metro Manila and a number of residential subdivisions in six provinces. This month, however, Avida just launched a new promo for big discounts to buyers. The “Be ahead, Avina na” promo enables buyers to save as much as P35,000 when they reserve a unit. Aside from that, those who purchase property before December 25 have a chance to win a Manila-Sydney-Manila trip for three, including a two night stay and $1,000 pocket money. Second prize is a Manila-Hongkong-Manila trip for two inclusive of accommodation for two nights. Balikbayans who reserve units are entitled to additional gift cheques from Ayala Malls and still another set of Ayala Malls gift cheques upon signing a contract to purchase a unit. They simply need to present their passports.
For more information, visit avidaland.com.
Is this your first time buying a condo? Unlike a pair of heels or a stylish dress, buying property should never be done on impulse – especially if it’s your first. Of course, the first thing you should consider is the cost of the unit and the payment schemes; the affordable monthly fee is what made me decide to get a one-bedroom unit at Gateway Regency. But other than cost, there are a number of other details to look out for. Here’s what made me decide to choose mine:
Location. I don’t intend to buy or own a car, which is why accessibility to public transport is high on my list. Gateway Regency within walking distance of an MRT station, not to mention that there are many cabs that pass by the area. The development is also located on a fairly hilly neighborhood, which means that I won’t have to worry about getting trapped should another typhoon like Ondoy hit the Philippines. One other factor that made me decide to invest in Gateway Regency is that it’s in a fairly busy neighborhood – there are office buildings and a mall nearby, plus Ortigas is only at the next stop. Finally, the area is fairly secure and the reputation of the neighborhood is good.
If your home was damaged by this year’s super-storms, you probably want to rebuild and make your house liveable once more. But you don’t have enough funds, so you approach Pag-Ibig and ask for their help. After all, they are the biggest calamity loan provider in the country. 600,000 Filipinos have turned to Pag-Ibig Fund to request for calamity loans and the good news is that most of their applications were approved. P9.3 billion has released by the home financing institution to date, and they anticipate disbursements to reach P10 billion by end of December 2009. So if you’re a card-carrying member of Pag-Ibig Fund, it’s very likely that you’ll get your calamity loan approved unless:
1) You have given less than 24 monthly contributions. This is the minimum number required for borrowers to qualify for a loan.
2) You have not been remitting your Pag-Ibig contributions and have become an inactive Home Development Mutual Fund Member. In order to qualify for a calamity loan, you should have made at least five monthly contributions in the last six months. If your loan gets approved, you and your employer need to keep remitting contributions throughout the duration of the loan term.
3) Your monthly net pay is lower than P3,000
If you do get your calamity loan approved, remember than the maximum term of loan repayment is 24 months.
The best time to buy real estate is now. With reasonable prices, motivated sellers, and willing lenders, those in search of a better investment should look no further than real estate. However, investing in real estate requires some technical knowledge in order to make sound decisions and to avoid misfortune.
With this regard, Urban Institute will be holding a lecture called “Investing in Real Estate: Opportunities, Techniques and What are Needed to be Learned” on November 16, 1:30 – 6:00 pm at the Maximo Function Room, Max’s Restaurant Glorietta, G2 Park, Theater Drive, Ayala Center, Makati City. The four hour lecture will cover the following topics:
Review of the different investment motivations
Advantages of investing in real estate
Pitfalls and traps in real estate investment
Why real estate appreciates
Pros and cons of investing in vacant land
Areas of opportunity
How to’s of real estate investment
Rehabilitating foreclosed properties
Converting apartments to townhouses or condominiums
An overview of the need-to-learn knowledge before investing
In the succeeding weeks, the same venue will also host a series of important real estate topics:
November 18 – How to Maximize Income of Rental Properties
November 23 – How to’s of INvesting in Condominium Leasing
November 25 – Legal Aspects of Sale, Mortgage, and Lease Documentations
December 2 – Joint Ventures and Syndications for Real Estate Projects
December 4 – Property Valuation: How to do it Yourself
December 7 – How to’s of Property Development with HLURB Rules
December 9 – Taxation of Real Estate Transactions
For other details or advance registration, Urban Institute may be reached at 796-8019 or 570-0973 or CP# 0916-426-9174 or 0921-683-9431 or by email at [email protected] or [email protected] or visit www.urban-institute.blogspot.com.
Did you know that the rainy season is the best time to look for properties in the city or the province? Unpredictable weather reveals a lot of things that you wouldn’t have found out in the dry season, such as damaging floods and landslides. Avoid being a casualty of another typhoon like Ondoy by following these tips on buying a flood-proof house.
Ask for the disclosure statement
A disclosure statement contains all the relevant details about the property – the description of the land, the type of soil, geological and development history (e.g. is it reclaimed land?), etc. Disclosure agreements are a mandatory practice in United States real estate but in the Philippines, you’ll only receive a disclosure statement if you ask for it. Before signing your lease or contract, make sure the seller reads the disclosure statement to you.
Aside from making sure that your home insurance covers the Acts of God clause, Typhoon Ondoy has one more important implication for Philippine real estate: from today onwards, new homebuyers will only consider elevated properties. People will now be more conscious about the safety features of the properties they plan to invest in, not so much safety from robbers and pollution, but from natural calamities.
Floods from previous typhoons usually affect marginalized sectors of the city and other areas located near rivers and creeks. In the news, we’ve seen how riverside neighborhoods in Pasig, Marikina, and Cainta were most heavily damaged by the flood. However, not all of these neighborhoods were poor; in fact, many middle-class villages like Providence were among the most badly hit by the flood. Even upper class neighborhoods in Metro Manila like Corinthian Gardens, Loyola Grand Villas, and North and South Forbes Park took their own hit from the flood. In other words, the city’s inferior drainage system, lack of urban planning, and increasing amounts of non-biodegradable wastes now make formerly flood-proof areas susceptible to flood damage.
Those who are looking to buy properties should make sure their new home is located on hills and elevated roads, or neighborhoods far from rivers and creeks. Although living in a condominium will generally keep your home and personal belongings safe from the flood, a condominium located in a flood-prone area will eventually accumulate structural damage and weaken over time. Make sure you verify that a property is flood-free before you buy or rent them, so that you don’t have to worry about losing your belongings or the lives of your loved ones.