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Is buying a house practical?

IGX · 244 · 47897

bauer

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Reply #15 on: Mar 29, 2012, 12:14 PM
maganda talaga pag sa inyo ang bahay..kaysa sa renta,sa renta kasi house improvement or renovation is not easily done or impose w/out the permission sa owner,doon palang talo kana...

if you own a house,

may budget ka sa realty tax
may budget ka for house repair & maintenance (major & minor)
may budget ka for fire insurance

if you rent a house,
may budget ka for minor house repair (major repair by owner)
may budget ka for fire insurance (contents lang po)

Now, rental & buying a house, di ba mas may advantage ang rental?

Owning a house is a TRADITIONAL THINKING but it is not sure if it is more financially viable.


IGX

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Reply #16 on: Mar 29, 2012, 06:43 PM
Hi Sir Bauer,

I agree with you 100%.  I did some numbers, at my age and say if I die at age 60, if I buy a house it will cost around 35K per month until age 60.  But if I just rent (my apartment now has no rate increase forever) just costs me 10k per month, its really unpractical.

However, for those who have a house, can you provide more information on what made you decide to get one?  Maybe I am missing something.


makasabat_po

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Reply #17 on: Mar 30, 2012, 02:04 AM
Depende yan kung afford mo bumili ng house. Kung afford, why not di ba? For me kasi a house is a home. A home you can call your own not for any materialistic reason. For me having a house is one crucial decision to make lalo at hindi ka naman habang-buhay siguro na single. Sa akin kailangan ko ng bahay hindi lang para sa magiging pamilya ko kundi maging sa pamilya ng magiging mga anak ko. Parang ganun. So yung value ng bahay ay aabot hanggang sa henerasyon ng apo ng mga apo ko. Ang bahay para sakin ay hindi simpleng tulugan o pahingahan kapag pagod sa trabaho. Ang bahay ay paraiso kung saan nakakonekta ang tradisyon ng pamilya. Pero ok lang nirerespeto ko ang naniniwala na "traditional thinking" ito.

Ngayon sa mathematical computation ng bahay ay agree naman ako na sa Pinas mahal talaga ang bumili ng bahay...so siguro ipon na lang kung kumikita ka ng malaki at pag kaya na saka bumili. Sa ibang bansa kasi maayos ang programa ng "housing" di gaya sa atin na mapanganib ang ilang lugar gaya ng malaki ang posibilidad ng landslide, pagbaha sa lugar at lindol. Hindi rin maganda o walang sistema ang rental system ng Pinas, "deregulated" ito kasi at kasera ang nagtatakda ng presyo ng paupa at walang strict monitoring ang gobyerno sa limits ng halaga ng dapat na presyo ng rent. Sa rent to own ng pag-ibig naman aba'y 25 -30 years to pay naman na matanda ka na nagbabayad ka pa ng bahay. Pag minalas ka, at di ka makabayad, mahahatak naman ang bahay mo.

Ang kailangan ay isang batas na magreregulate sa rental system ng bahay, apartment o condo o kahit ano pang tipo ng bahay na tinitirhan. Kasi kung maayos ang rental system baka nga tama na magrent na lang kesa bumili. Kaso palpak nga at di naman nakikinabang ang gobyerno sa tax sa karamihan ng nagpapaupa. Isama mo pa dyan yung mga sindikato s asquatters area. Walang tax na nakukuha gobyerno dyan pero pinakikibangaan ng mga professional squatters yan. Example ang area ng North Triangle. Imagine may mga renters dyan na 'professionals' like teachers, call center agents and even nurses. Bakit sila nagrent dun? Simple kasi mas mura dun eh. Eh ano kung Area ng squatters eh ito ang afford namin. In the end, talo ang gobyerno kasi walang nakukuhang tax dun. Pero kung naisip nya na iconvert ang mga areas na yan para magparent mababa sa bahay baka sakali makakuha sya ng tax.

Problema sa lahat ng products kasi hindi maayos ang 'price regulation' system ng gobyerno kaya parang anarkista na nagdidikta yung mga traders. Kahit sa boundary system nga ng taxi at jeepneys walang ceiling eh..Yung operator ang nagdidigta ng boundary kung magkano. Dagdag pa dito ay dapat aralin din ang 'capacity to buy' ng mga employees sa Pinas sa usapin ng pabahay at kahit ng ilan pang products.

Pero sa post ni TS Ano kaya kung try mong lupa lang bilhin mo saka mo na lang tayuan ng house? Praktikal din yun sa palagay ko. Palagay lang naman hehe :D


retirado50

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Reply #18 on: Mar 30, 2012, 03:23 AM
Sa sitwasyon mo single at maganda ang trabaho, mas maganda bumili k ng lot na malapit sa work mo then magpatayo k ng apartment like mga 5 units studio type at 1 unit na may 2bed room at yun ang titirhan mo.. 2nd option 6 studio type ipatayo Mong apartment at magtira k ng maliit na lote pra pag nagasawa ka pwede k magpatayo mg dream town house mo.. Kya studio ka muna tumira habang single kpa.. Nka invest na yun pera mo, libre kpa sa rent at my income kpa :)


IGX

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Reply #19 on: Mar 30, 2012, 09:18 AM
salamat po sa mga advice nyo, pare pareho po kayong may point.  medyo although nagaagree ako na may benefit din ang bahay pag nawala ako at magagamit ito ng mga anak ko, ang nakita ko naman na issue dito sa marami kong kaibigan ay nagkaaway away silang magkakapatid dahil sa agawan sa mga properties.

isa sa nagugustuhan ko sa pagrerent ay ung pera ko, assuming may 6M ako, kaya nito kumita ng kahit 4% kada taon, pero kung ito ay ibili ko ng bahay, 0% ang interest nito dahil d naman kumikita ang bahay, plus may mga maintenance costs pa.

mahirap nga pong decision ito.  lalo na ngayon mahal na pala mga bahay sa metro, kulang pa ang naipon ko para makabili ng bahay.


bauer

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Reply #20 on: Mar 30, 2012, 10:58 AM
IGX,

Buy a house either for yourself or as a form of investment by using the INTEREST EARNED by your capital (money).  Use your capital to generate more money.  The profits earned from those activities can then be use to buy a property.

Do not make a loan just to buy a house. 

Pag tanda mo at nag retiro ka na, bahay lang ang asset mo at ang cash mo ay konti dahil naghulog ka ng ilang dekada.  Ang kumita at masaya ay ang bangko na nagpa utang sa iyo.  Pero ikaw ay magtitipid sa pagtanda kasi baka mabenta mo pa ang bahay mo para lang may panggastos ka sa araw araw bilang 'senior citizen'.

Have you read Rich DAD and Poor DAD by Robert Kiyosaki?  First book discussed entirely all about this issue that concerns you.

 


nightwatch

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Reply #21 on: Mar 30, 2012, 04:45 PM
^there may be some underlying factors on owning or renting a house and it may be a case to case basis to say that it is practical or impractical to own a house.  For mathematical purposes first, let me give our place as an example.  10 years ago, you can buy a house and lot for 1.4 M or rent at an average amount of 12k per month. Assuming your place of work is within the area, would you buy or rent?


bauer

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Reply #22 on: Mar 31, 2012, 01:40 PM
nightwatch,

in response to your theoretical situation, i offer these assumptions

1. the person has 1.4million in savings and does not intend to take a loan in case he/she buys the house.
2. 10 years ago the average time deposit rate is about 10% so 1.4million x 10% = 140,000 per annum or 11,666.67

under those scenario, I suggest that he/she should not buy the house and just rent because his/her income from  savings almost assure him/her of an 'almost rent free' stay.

another assumption,

1. he/she has only a 20% savings (1.4x0.2) about 280,000 pesos to be use as equity in a home loan
2. he/she takes out a loan (1.4x0.8) about 1.12 million and must pay it in 15 years (too good 10 years ago). Bank loan interest 10 years ago is about 15% per year.

Monthly house loan payable must be about  9,000 (straight interest method)

Under these financial terms, I will suggest that he/she should buy a house because his/her monthly loan payment is lower in cost than actually paying a 12,000 rent
« Last Edit: Mar 31, 2012, 01:42 PM by bauer »


Bp22estafa

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Reply #23 on: Mar 31, 2012, 04:26 PM
if the house is inside a guarded subdivision or compound monthly association dues should also be consider.

buy a house when you want it,need it & when you are financially comfortable to do so not because your gf told you so.

to get rid of the pressure of buying a house you don't need, you can consider shopping for a new gf or stick to the old & use this(not owning a house) as a leverage not to marry her unless she lowered her demands.

whichever option you'll chose, you'll still be the winner & the best part you'll get to keep your money intact for better use.

suggestion lang naman  :D
« Last Edit: Mar 31, 2012, 04:27 PM by Bp22estafa »


warlocksfs

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Reply #24 on: Mar 31, 2012, 04:47 PM
I'm in the same situation. With a growing family I'm on the lookout for a bigger house. I own a 2br townhouse which I got when I'm still single. Still hesitating on buying the bigger house in cash or under loan. And the idea of the length of time on processing the loans also hinders me.


IGX

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Reply #25 on: Apr 01, 2012, 12:03 PM
Hi Everyone,

Thank you for your input.  I do agree that maybe 10 years ago a house would cost 1.4M, but I was on the same road 10 years ago.  Another GF demanded a house, I was in search for one every weekend but the cheapest during that time within the metro was 3M.   Today the cheapeast is 4M. 

I think sir Bauer and I think alike, one of the reasons I am hesitant in buying a house is because my savings are earning near the monthly dues of my rent, a year more it will be able to cover even my other expenses at home.  The big problem I have is when I explained to my GF about renting and buying a house, she through me a tool in the internet that projects that owning a house is better.  But based on the graph, its only better come age 60.

At this point I really see a house as a liability, I always have.  Because if ever the area of your residence becomes an inconvenience (may mga nagsquat sa tabi, bahain, super traffic), it will also be hard to transfer.  Or just like our house in the province, na tinirahan ng iba, nabili daw nila, and we don't want to get into the headache of suing (my time is valuable at present).  Unlike renting.

I did some math, at my age, if I pay rent at 35K/Month, tha'ts 420K/year or almost 11M by age 60.  11M indeed is a lot, but owning a 11M house when not paid outright will balloon to 15 to 17M depending on the interest rate.  It really doesn't make sense for me.


retirado50

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Reply #26 on: Apr 01, 2012, 09:17 PM
IGX,
  
      mahirap mag lagay ng 6 million ng nsa bangko lng plgi, wlang peace of mind na bka 1 day
      magsara na ang bangko na pinasukan mo ng pera(huwag nmn sna) dugo at pawis ang pinuhunan mo.
      plgi rin tumataas ang bilihin taon taon, 10 yrs from now malaki na niliit ng value ng pera mo
      kahit sabihin pa natin na tumubo ang pera mo at nalibre ka sa rent ng apartment, malaki parin
      ang nalugi mo gawa ng pagtaas ng bilihin taon taon.

      malaki prin nman ng value ng 6 million mo sa panahon ngyon at plagay ko kya pa nyan
      makabili ng house and lot sa metro, halimbawa 75-100 sqm san andres manila or mandaluyong
      area mkakabili ka ng around 3 million- 3,5 million ( lot only) then yun natira na 2.5 or 3 million mo
      ipatayo mo ng 3 storey apartment (2 units per floor=6 units) mapapaupahan mo ng 6K-7K per door
      pag around san andres or mandaluyong area. basta pili klng ng near transportation and
      commercial area pra plgi puno ng mga tenants apartment mo.

      isipin mo nlng na kung gaano ka bilis tumaas ang property sa metro manila ngayon at ang rent
      mo sa apartment khit papaano tumataas rin, kwentahin mo sa 15 yrs ang binabayad mo 12K
      per month  (sure my increase yan rent mo sa loob ng 15 yrs.) kwentahin mo rin yun kikitahin
      mo in 15 yrs kung nag patayo k ng apartment at kwntahin mo rin ang value ng property mo in
      15 years doon mo malalaman ang sagot kung nanalo o natulog ang pera mo

      ganyan kasi ang ginawa ko last 8 years ago ng nagpagawa ako ng apartment, ngyon may pamilya nko at
      nka bili na ako ng bahay at lupa sa manila  na kinuha ko sa kinita lamang ng apartment ko mula noon. at yun
      kikitahin nman ng apartment ko ngyon iinvest ko nman sa UITF at stocks, yun salary ko nman every month
      pinam papasarap kuna mahirap  na maikli lng ang buhay ng tao im 35 yrs old na ksi :hihi:
      

      




« Last Edit: Apr 02, 2012, 03:35 AM by retirado50 »


mamee

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Reply #27 on: Apr 01, 2012, 09:22 PM
My officemate bought a 4M house somewhere in Muntinlupa, Crown Asia yata - not sure.

We bought a 1.6M lot in Nuvali, Laguna. Lot lang muna after 5yrs pa siguro namin ipapagawa ang bahay kasi nagpagawa kami ng rental property.

« Last Edit: Apr 01, 2012, 09:46 PM by mamee »


IGX

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Reply #28 on: Apr 02, 2012, 10:47 AM
Sir Retirado50,

Salamat po sa advice.  Maganda nga ung magpatayo ng apartment, problema hindi yan pasok sa demands ng gf ko, kung may extra cash pa for sure papatayo po ako kasi yan din isa sa gusto ko gawing pagkakakitaan. 

Ang pinanghahawakan ko rin po kasi ngayon is ang rent ko ay increase free, kahit hanggang tumanda pa ako, 10 years na ako nagrerent in the same place, wala pong increase.  Kaya po naiisip ko mas beneficial parin magrent kesa bumili ng property.


singkit_1588

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Reply #29 on: Apr 02, 2012, 02:23 PM
Sir Retirado50,

Salamat po sa advice.  Maganda nga ung magpatayo ng apartment, problema hindi yan pasok sa demands ng gf ko, kung may extra cash pa for sure papatayo po ako kasi yan din isa sa gusto ko gawing pagkakakitaan. 

Ang pinanghahawakan ko rin po kasi ngayon is ang rent ko ay increase free, kahit hanggang tumanda pa ako, 10 years na ako nagrerent in the same place, wala pong increase.  Kaya po naiisip ko mas beneficial parin magrent kesa bumili ng property.
increase free??bakit?
anung bang plano nyo ng gf mo?
anu bang demands nya?


 


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