Admin – Page 9 – House Construction Tips and Guidelines

Steps to your Dream House

November 21, 2016November 21, 2016 Admin Leave a comment

step-to-dream-house Every people dream is dreaming to have their own dream house. But to make it happen make sure that you are financially and emotionally ready to reach your goal. Owning your own dream house entails a lot of things need to know so that all things work for good.

Of course, everyone want a house that is not only comfortable to live with but it also well-designed. Acquiring your dream house is pair with action. It cannot be easy but you can do it if you are persistent and determine.

Here are some steps to your dream house:

Know your financial status. You should be financially stable to sustain your need while construction your dream house and if you know that you are ready financially, you can now decide how much you need to achieve your dream house. Signs that you are financially stable are never late of payments, you can pay bills on times, and never use credit card for necessity but for rewards to yourself. Make sure that you have enough funds for your dream house.
Look for the home site. It is very important to find the right place for your dream house that is suitable to your lifestyle.
Find a good designer. Your designer could be an architect, house designer or an engineer. Make sure that this designer know the requirements and can design a house that is fit to your budget and your wants.
Look for the contractor. Make sure that your contractor have enough experience and with good reputation before making a deal. Also, mention to your contractor if they are responsible for building permit and other documents needed for the construction.
Move in and enjoy. After a few months of building your dream house, you and your family will be able to occupy it and enjoy your stay.

Granite Flooring Installation

November 15, 2016November 15, 2016 Admin Leave a comment

granite-flooring Modern houses today are using granite tiles instead of regular tiles. Granite flooring is used for its beauty, stylishness, sophistication and ability to transform a room into a luxurious area. Granite can be also use as countertop materials around baths and sinks and even on wall.

The advantages of granite flooring aside from beauty and elegance is much less expensive in terms of labor expenses because it can be easily install. Other advantages includes durability, hypoallergenic qualities and resistance to water and moisture. Since granite is a hard stone, it impossible to break and with proper care, it will be last for a lifetime and remain in good condition. Granite is also resistance to bacteria and allergens as well as resistant to water and moisture.

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Steps in Installing Granite Flooring

Organize the sub-floor. Make sure that the sub floor is clean and free from any old tiling, paint, residue, adhesives or sand and free from any debris.
Lay out granite tiles. Plan to where to put the granite tiles. You can start at a corner of the area and start laying down tiles. If the tiles need to be cut, make sure that it will fit by taking the measurement and cut it with the wet saw.
Use mortar. A mortar is a paste used to bind building blocks like stones, brick and concrete masonry units such as tiles and granite. It fill and seal the irregular gaps between them. Mix the mortar according to the instructions of the bag and mix to a thin mud like consistency and use trowel and lay down thin over the surface of the area to be tiled. Put down a backer board on the floor and screw down.
Apply mortar. When the backer board has been installed, put the mortar for the tile installation and cover small areas at a time and spread the mortar with the trowel at a 45 degree angle to the surface.
Put granite. Start laying out the tile according to your plan. Position a tile in the first corner and press down firmly in the corners. Repeat the process until all tiles are set and allow 1 day to cure.

Are you Ready to Pay for your Dream House

November 13, 2016November 13, 2016 Admin Leave a comment

dream-house You are decided to provide your family your dream house since your kids are growing and also tired of renting an apartment. Buying a home is one of the biggest financial decision that needs to analyze your financial capability since it is definitely not cheap.

Here are some things to consider before engaging yourself to pay for mortgage payment for your dream house.

Check out if the family income is capable of having monthly mortgage payments for a least a period of time. It is likely that you will be paying for mortgage loan for a minimum of 5 to 7 years and sometimes it take as long as 10 to 20 years to pay back a home loan in full.
Verify if you are qualified for a home loan. Having enough money for a down payment does not mean that you are automatically guarantee that your will pass the pre-approval for home loan. The bank will check if you are financially ready to buy a house. Applicant may require to submit a bank statement from the past 6 months and a latest income tax return statement or payslip for the past 3 months so that bank may check if the applicant or borrower has the ability to pay for the loan. Also, bank will check if the borrower has any existing loans or debt such as credit card history.
Know what you can afford. Inquire to different banks and lending institution and compare home loan rates. You can collect leaflets or brochures of different banks and know the best offer possible that within your budget.
Make sure to have extra budget for other expenses such as emergency funds. The extra cash should not be taken from home loan budget. Missing your monthly amortization can have big concerns.
Be honest to yourself. Sometimes we make decision out of nowhere and we tend to ignore reality. You need to be honest with yourself and analyze your situation because settling home payments involves a long-term plan which not only includes amortization but also taxes and possibly maintenance and insurance. Some thinks that buying a home will be easy. One should be realistic about the time, effort, money, stress and hassle toward being ready to move forward. Talk to some people who can show you the ins and outs of real estate and purchasing a home and ask question about the things you don’t understand before making decisions. There always time for everything.
Be mentally ready. Make sure that you and your partner are not just financially ready to start monthly amortization but ready also physically, psychologically, and emotionally prepared. Buying a home is like having a child altogether again.

Modern Bungalow For Sale

November 9, 2016November 9, 2016 Admin Leave a comment

house-and-lot-sale-zamora-pila

House Specifications:

150 sq. meter lot area
85 sq. meter floor area
3 bedrooms
2 CR/Bathrooms
80 cm elevation from the road
Granite Flooring
Tile Span Roof
Stainleass Gater and spandrel
With Gate and Fence
Sliding Window and Door
With Grill
With Interior Design Living Room
With Kitchen Cabinet
With Closet
Fully Finished

Location – Zamora St. Poblacion, Pilar Bataan (Beside Central Elementary School and Lacorte Apartment)
5 mins ride to Balanga City

Payment Type:
Cash
Pag-ibig or Bank Loan with 30% downpayment

Transfer of Title:
Seller Responsibility

Purchase House and Lot Pag-ibig Loan

November 4, 2016November 4, 2016 Admin Leave a comment

purchase-house-and-lot-pag-ibig If you have no enough budget for buying a house and lot, Pag-ibig will help you to finance your house and lot but make sure that you are eligible for Pag-ibig loan.

Here are steps in applying Pag-ibig Loan:

Attend for their counseling. You have to called Pag-ibig for registration and schedule.
Upon attending, bring housing loan application with recent ID photos of borrower, a form that you can download from their site or get at Pag-ibig processing office and 2 pcs 1×1 id pictures, membership status verification slip (MSVS) form, proof of income such as income tax return and latest 1 month payslip, notarized certificate of employment and compensation
After attending the counselling and submission of all the documents needed, you will call Pag-ibig if the MSVS is approved.
If the MSVS is ready, you have to submit other documents like contract to sell, certified copy of TCT by Registry of Deeds, location plan and vicinity map, photocopy of tax declaration.
They will schedule for the assessment of the property you want to purchase/
Pag-ibig will assess the loan application for approvae
When approved, borrowers signs notice of approval
The borrowers will processes the required document before loan is released.

Here are the documents needed to be submit before the loan release:

TCT/CCT in the name of the borrower with proper mortgage annotation in favor of Pag-Ibig Fund (Owner’s Duplicate Copy)Certified true copy of TCT/CCT in the name of the borrower with proper mortgage annotation in favor of Pag-IBIG Fund (RD’s copy)
For properties that are subject of an heirs lien under Section 4 Rule 74 of the Rules of Court, surety bond (not an heir’s bond) that shall answer for the payment of the outstanding loan obligation still due to the Fund in the event that another person including an heir of the registered owner would lay a claim against the property offered as security
Photocopy of New Tax Declaration and Updated Real Estate Tax Receipt in the name of borrower and co-borrower, if applicable
Loan Mortgage Documents
a.   Loan and Mortgage Agreement duly registered with Registry of Deeds with original RD stamp
b.   Deed of Absolute Sale duly registered with Registry of Deeds with original RD stamp
c.   Duly accomplished/notarized Promissory Note
d.   Disclosure Statement on Loan Transaction

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Septic Tanks and its Function

November 2, 2016November 2, 2016 Admin Leave a comment

If you are planning to buy a new home, make sure that there is a septic tank and ask your agent or seller the location of septic tank. Whereas, if you are planning to build your own house, make sure that the septic tank is properly installed to avoid any problem in the future.

A septic tanks is an underground in which sewage is collected and allowed to decompose through bacterial activity before draining by means of a leaching field. Everything that goes down any of the drains in the house such as toilets, showers, sinks and laundry machines travels first to the septic tanks.

Function of Septic Tank

Receive all wastewater from the house separate solids from the wastewater flow cause reduction and decomposition of accumulated solids
Provide storage for the separated solids such as sludge and scum pass the clarified wastewater out to the drain field.

It is also important to avoid blockages in the septic tank to avoid problems. If you thinks that your septic tank has been blockage, you can clear it using drain rods fitted with a plunger or you may need to call a qualified plumber or drain clearing specialist.

Check the following list to avoid blockage in your septic tank

Do not flush rags, disposable nappies, kitchen towels, sanitary items, plastics and other item down the toilet.
Do not wash paint brushes in the sink or put brush cleaning liquids into the drains leading to the septic tank.
Do not connect rainwater drainage pipes
Do not dispose waste liquids that are harmful to septic tanks into rainwater drains

House Construction Loan Need to Know

October 30, 2016October 30, 2016 Admin Leave a comment

house-construction-loan I and my husband have been through house construction loan through East West Bank. Because of our determination we are able to provide all the documents needed to achieve our goals to have our own house.

The first step we done is to know the requirements between Pag-ibig and banks. Based on what we see, Pag-ibig requires more documentation to submit than in banks. Also, we go to different banks to inquire about their requirements as well how much will be the interest rate. Since that time East West Bank offered the lower interest rate so we decided to pursue our housing construction to East West Bank. That time they offered 8.5 percent per annum. Although Pag-ibig also offered lower interest rate, there are more documents to submit than in East West Bank.

We provides documents such as title, income statement such as pay slip, tax declaration, vicinity map, employment certificate, proof of income, income tax return, identification cards, bank statements, etc.

After submitting all the necessary documents to process the loan, then the bank will send you a notice of approval. They told us to wait for 2 to 4 weeks but it takes us 2 months for our notice of approval. Our loan approved is amounting to Php 850,000.00, 10 years to pay. Our monthly amortization will be Php10,000.00 plus insurance fee and other fees.
When the notice of approval received, the accessor will visit the site of house construction to verify the percentage of the progress of work because banks, pag-ibig and other lending institution release money depending on the progress of work. East West will release money a scheme of 30% upon first loan release, 60% for second release of money, 90% for third release and 100% last release of money. In our case, it is very hard because we have no enough budget. What we did, we ask some friends and relatives to lend us some money in order for us to fund our construction so that bank will also release money.

My tips before pursuing your house construction loan are the following based on our experience:

As much as possible inquires to all banks which offers house construction loan so that you can analyze which bank are suitable for you.
Make sure to have initial budget for the house construction. As much as possible you have at least 30% of your total house cost because most banks and lending institution release payment upon 30% of work house completion.
Verify all fees requires for the house loan such as processing fees, accessor’s fee, etc.
Know if there are hidden fees aside from interest rate such fire insurance fees. Know how much you have to add for your monthly amortization.
Make sure that you’re the interest rate is fixed within the payment period. There are banks who have moving interest.
Inquires also to your banks if there are rebates in case that you have been pay early. Just on our case, we do not rebate after paying the full amount for two years since our contract is for ten years. Some banks offers rebates.

Bank House Loan Checklist

October 24, 2016October 24, 2016 Admin Leave a comment

Housing loan requirements may be vary depending on the banks and lending institutions. Here are some checklist to provide your insight of the documents you have to prepare when planning to avail housing loan.

bank-house-loan-checklist

Bank Housing Loan Application Form
Two (2) valid identification cards
If married, both spouses need to sign on the application form
It with co-borrower or co-mortgage, separate form is needed
Certificate of Employment and Compensation
Latest or Recent Income Tax Return (ITR)

For Overseas Worker

Contract or Certificate of Employment authenticated by Philippine Consulate
Proof of monthly remittances
Notarized or authenticated Special Power of Attorney
Crew Contract and Exit Pass validated by POEA for seaman

For Practice of Profession

Clinic Address / Schedule and contact numbers for Doctors
Bank Statement for the last 6 months

For Self-Employed

SSS / GSIS / Driver’s License / PRC License
DTI Registration / SEC Registration
Income Tax Return with Statement of Assets and Liabilities
List of Trade References at least 3 names with phone number of major suppliers/customers
Bank Statements for the past 6 months
Articles of Incorporation and By-Laws with SEC Registration Certificate

For Collateral

Clear Copy of Owner’s Duplicate Copy of TCT / CCT
Lot plan with Location or Vicinity Map duly certified by licensed Geodetic Engineer
Tax Declaration photocopy / Tax Receipts or Tax Clearance
Endorsement Letter / Computation sheet
Contract to Sell from developer stating the contract price for accredited developer or project

Two-Storey House Advantages

October 23, 2016October 23, 2016 Admin Leave a comment

scheme8

Many Filipinos nowadays prefers to build a two-storey house to avoid flood during rainy season. Two-storey houses are houses having two floors or levels. The decision between one storey and two storey house can be complicated and complex. Here are some of the advantages of living in a two-storey houses:

Increase room for a sizeable backyard. A small size of land can build more rooms or bigger rooms.
A two-storey house or double storey house does not mean cost twice as much as a single-storey house. It takes 15% to 30% to the total cost
It may provide more options in terms of layout as there is a greater ability to separate spaces from each other.

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Maximize backyard space. If you have small size of land, you can still have a space for your little garden or backyard.
More storage space. You can have storage under stairs depending on the design of your house.
Nice separator from living room, kitchen, dining from bedrooms.
Potential for larger rooms and a functional layout.
Provides more privacy and space by having living areas downstairs.
Have potential vies. You can build higher to maximize your views and improve your outlook.

Kids will love have to have two-storey house but the decision may be based on what will be right in your life such considering on your lifestyle and preferences.

Getting Housing Loan Tips

October 20, 2016October 20, 2016 Admin Leave a comment

Getting housing loan is stressful most especially if you do not know the first step. There are many borrowers who is denied because they do not prepare and they do not know the process.

Here are some steps to maximize your chances:

1. Assess your financial capacity
The lenders usually ask about your assets, monthly income, liabilities and projected down payment. They assess your income, credit history and debt service ratio.

2. Clear your credit history
As borrower, you should review your credit history before submitting a house loan application. Banks and other lenders are usually share information on delinquent or non-paying borrowers and history of non-payment is a big red flag for lenders. You should first clear your credit history by paying bills on time, paid credit card balances and if you have unpaid load be sure not to mess up your credit during the loan processing as diligent lenders.

3. Check with mortgage calculator
Mortgage calculator will calculate your monthly mortgage payment under different housing amount, interest rate, loan tenure, and annual income scenarios. In this case, you will be able to decide what finances can handle the payment scheme.

4. Analyze your finances
Find out what you can spend before bidding on properties. Make sure that your house loan will be suited to your finances because if not, it will cause you a lot of emotional and financial stress in the future.

5. Maintain stability
Lenders prevent risky clients so it is necessary to become financially stable at the time of your house loan process. It is essential that you maintain a stable cash flow and avoid new debt. Also, try to stick with your employer because taking a lower-paying job or quitting to become self-employed is another red flag for lenders.

6. Increase your savings account
Lenders will check your savings account if you have enough money to pay off a various cash expenses such as down payment, home appraisal, loan processing fee and so on. Having a zero cash is a quick way to disapprove your housing loan application.

7. Prepare necessary documents
Make sure that all documents needed are prepared including recent ID, proof of income, employment certification, ITR, payslips and other pertinent collateral documents. Lenders needs evidences of what you have to say.