Finding A Diamond In The Rough: Tips In Purchasing Pre-Owned Homes

A property seeker is always hesitant when it comes to buying second-hand homes. This is because such properties could eventually cost you a fortune in renovations if you are not cautious.

Spare yourself from possible buyer’s remorse. PSBank, through its “Good to Know” campaign, help you spot a gem among wide choices of pre-owned houses with these tips:

Know where to look. The best places to find pre-owned real estate properties for sale are banks and local government institutions such as the Home Development Mutual Fund or PAG-IBIG. Check out their website and you’ll find the best property deals. There are also property auctions that these institutions organize. Some properties not normally listed in their websites are being auctioned here.

Top 3 things to consider when planning to buy a house

Buying a home is one of the major financial decisions in most people’s lives. Your lifestyle, personal savings, spending habits are some of the things you need to take into account when considering to take a home loan for your dream house. Hence, the decision to buy a home must be made carefully. Here are the main factors you need to consider before applying for a home loan:

Type of property and location. The first step towards home ownership is determining the type of home that best suits you and your family’s needs.  Do you a have a child or planning to have more? Is one or two- bedroom enough or do you need a bigger residence for your growing family? Maybe you have an ageing parent that you may have to take in sooner than later? When looking at a possible home location, you also need to consider job opportunities as well as proximity to relatives, given Filipinos’ close-knit family culture.

First-time home buyer? Consider these important tips

The prospect of buying your own house is probably one of the most exciting financial step that you will ever make in your lifetime and careful planning is very important. In preparation for the realization of this goal, consider these important tips to help you prepare for home ownership.

Determine the true cost of the house. The monthly amortization fee is usually the largest part of the total expense related to the purchase of a real estate property. However, this is oftentimes not the full cost related to buying and maintaining a new house. As a general rule, the principal, interest, real-estate tax as well as insurance payment should not exceed 30% of your gross income. You also have to allot budget for homeowner association dues and utility expenses such as water, electric, phone and internet services. You may also need to buy new appliances and furniture for your new house. Over the long run, repair and maintenance cost should also be take into consideration.

Planning to buy a condo? Here’s the fastest way to owning your dream house

Making the decision to own a house could be daunting. But once you have crossed the line towards that life-changing decision, one of the most important steps you can make is to find the right lender who can address your home loan financing requirements at the fastest possible time and most convenient way possible.

Philippine Savings Bank (PSBank), the consumer banking arm of Metrobank Group, has set a 1-day home loan decision for the purchase of brand new condominium units and properties from accredited developers.

Get PhP55,000 cash credits with your new PSBank Home Loan – spend it your way!

As it marks its 55th anniversary, Philippine Savings Bank (PSBank) rewards its home loan borrowers with PhP55,000 in cash credits and more!

Customers who apply for a PSBank Home Loan amounting to at least PhP5 million with a minimum loan term of five years are qualified for this exclusive offer. Home loan borrowers with applications for acquisition and/or construction purposes from October 19 to December 31, 2015, and booked until February 16, 2016 will get the PhP55,000 cash credits through their PSBank Prepaid or Debit MasterCard account.

With your PhP55,000 cash credit, you can already pay for your first monthly amortization, defray part or in full mortgage-related fees, buy an appliance or furniture to decorate your home, or simply save it!