Buying a house and lot is never a light matter. If you want to buy a complete house, or build one, there are many factors to consider, and the biggest of these is your financial capacity in owning one. Aside from financial means, there are a whole lot of other factors too in landing that dream home of yours.
The article below serves as an information or guide to help readers find very pertinent housing information. The article talks about Manila housing in particular.
The information below is especially of help to those who are studying and working within the Metro Manila area, whether or not they already living in a rented place, or are looking for a more permanent place to live in. Whatever the reader's situation is, he or she will find essential information here about townhouse Manila.
The City of Manila is the capital of the Philippines. It sits at the center of more than 12 cities which make up the Greater Metro Manila Area, or the National Capital Region. It is made up of 897 barangays, and encompasses an area of 38.55 square kilometers. A barangay, which is the smallest political unit in the country, has its own chairperson or barangay captain and barangay councilors that act as administrators. Barangays are subdivided into 100 zones, which are in turn divided into 16 or more districts, to make it easier for baranggay officials to manage their domain.
Manila is 1,300km from the Asian mainland, and is situated at the eastern shores of the Manila Bay. Being the country's capital, it is home to most of the country's industrial, commercial, educational, and government institutions, and hence is very urbanized. Because of its population, it is highly crowded and very busy; you can find all types of individuals here in Manila making a living or doing business or whatever it is they've set to do here.
The economy in Manila, being the melting pot of all societal institutions, is very dynamic, versatile, and diverse. This diversity and the mass of economic institutions creates many, many employment opportunities for Filipinos as well as other foreigners who are looking to create business here. Many manufacturing companies can be found in the metropolis, such as the textile industries, clothing, and electronic sectors. Manila also has a very busy seaport, in fact one of the busiest in the world. There are also a huge number of churches, schools, restaurants, stores, and malls, and all of these are employment opportunities for travelers and residents in the city.
There are also flea markets within the city. One of the most famous of these is the Divisoria flea market, where many small-scale businesses and entrepreneurs are found. It is this kind of diversity that makes people, especially those coming from provinces, to go find jobs in Manila. Of course, the next thing that people want after finding a suitable job is landing a suitable home. Aside from workers, tourists abound in the City of Manila. Every year, many tourists flock to tourist destinations and must-see sites in Manila, such as the walled city of Intramuros, the National Museum of the Philippines, Rizal Park, China Town, Manila Zoo, and various other sites of great historical and natural importance. Aside from these places, the tourists go to several of the many malls in the city, like Ayala Greenbelt, Robinson's malls, and the SM malls, especially the biggest one in Southeast Asia, the SM Mall of Asia. They also love to go to flea markets such as the aforementioned Divisoria, and the well-known Baclaran.
Tourists, like employees in the city, also need to find a place to stay. Some of them even want to go on an extended vacation or an extended stay in the country because of the nature of their work or occupation, and so they try to find semi-permanent places to live in. This is where townhouse Manila comes in, since they fit the bill and are very convenient and economical places to stay in.
It is recommended for travelers to stay in Manila because the country's premier international and domestic airports are found here. Not only that, foreign businessmen and expats are encouraged to live here because the cost of living in Manila, compared to other global cities, are very low. Of course, the cost of living for each person may vary depending on their living preferences and lifestyle.
As we said, living in a Manila townhouse, whether rented or owned, can be a very convenient experience for those who are studying here, working, or traveling. They are also very cheap and economical compared to staying in hotels, which can cost thousands of pesos when staying for just a few days.
Most of the townhouses or townhomes in Manila are strategically located near the heart of major business and institutional districts, which is a great benefit to those who are working. It is very convenient when it comes to eating, since there are fast foods, supermarkets, and restaurants nearby, so when you are too busy to cook at home, or just don't have time to do that, all you need to do is go to nearby restaurant and have your fill. You can actually save time by doing that.
Manila townhouses are situated very near to malls. One of the biggest malls in the metropolis is the SM Mall of Asia (MOA). Here, you can find everything, from food to furniture, and from gadgets to groceries. You can even go to Manila Bay and enjoy the view of the bay from numerous seawall sites, one of which is located behind MOA.
There are a lot of townhouses in Manila, and many of these are created to suit a variety of customer preferences and lifestyles. Many of them are either for rent or to own types.
There are also Manila townhouses that are built specifically for students in the metropolis. In Metro Manila, there is a stretch of area that includes the country's top universities and colleges, which is commonly known as the University Belt. Townhouses abound around this area. An example of this would be the common three-storey townhouses that are situated near CEU, FEU, La Salle Taft, and San Beda. These kind of townhouses regularly sport 4 bedrooms, 3 toilets and bathrooms, a small laundry area, maid's quarters, a family hall, a lanai and car garage, and a study area.
Townhouses like these are perfect for students who are regularly visited by their families, since they are quite big enough to house a lot of family members. As mentioned, the cost of each townhouse will differ depending on the location of the townhouse, the number and quality of amenities offered, its size, and other important factors.
For example, an unspecified townhouse near UST can cost P3.5 million. This townhouse is made up of 2 bedrooms at the ground floor, 2 bedrooms on the second floor, one toilet and bathroom, a kitchen and an attic, and has an overall total area of 72.6 square meters.
Another example: a townhouse in Sampaloc, Manila might cost around P4.3 million, and are considered brand-new. This kind of townhouse has two bedrooms, two toilets and bathrooms, a small storage area, a laundry section, and a garage.
This townhouse is very near UST, and just one ride away to the University Belt where all other education institution reside. It is also just a ride away from the Legarda Terminal of LRT2 where you can cross the width of Metro Manila and get to the other side quickly. It is also a convenient location because it is near hospitals, grocery stores, malls, and banks.
One of the basic prerequisites to availing the housing loan is the amount of contribution a member has already paid. Pag-ibig members can get a housing loan if he/she has at least two years of contribution. Since a monthly contribution amounts to P200, that means the member should have at least P4,800 worth of contribution to Pag-ibig before availing the loan. Employed individuals pay only one-half of the monthly contribution (P100), while the other half is shouldered by their respective employers.
For members who are classified as voluntary or self-employed, they are expected to shoulder the whole monthly contribution amount. Overseas Foreign Workers are also included in Pag-ibig's Housing Loan program.
However, if you do not want to get a townhouses Manila for a permanent place to stay, you can always opt to avail of a townhouse for rent. There are many townhouse for rent options within the Metro Manila area, and rental fees may range from as low as P10,000 to P55,000, and even up to P85,000 or more. As usual, the cost will depend on the quality and number of amenities, the quality of the townhouse itself, the size and the location of the townhouse. Even though you have a lot of financial resources to own a townhouse, buying one is still not an easy task, as you have to balance a lot of factors and considerations. This is more difficult if you don't earn much to begin with.
Monthly mortgage payments are what challenges the buyer's pockets and budgets. However practical it could be in getting a townhouse, mortgage payments are heavy on most townhouse buyers and so they slave away at their jobs or take more job engagements just to make more money. The monthly rent is no heavier an obligation from that of a mortgage.
No matter what your situation is, mortgages and monthly rent payments are unavoidable when talking about townhouses and no one can just get away from them. Fortunately, there are also some tips to make your townhouse buying process more advantageous for you and on how you can save and maximize your financial capacity in buying a townhouse;