Sta Rosa House and Lot
Buy and Sell Tips

This Sta Rosa House and Lot tips on buying and selling serves as a guideline only. Perform your due diligence and add on this to make right decisions on your buying and selling needs.

In most cases it's better to buy instead of rent, and to buy as soon as you can afford to do so. The only exceptions are for people who have very low rent, or who plan on moving in a few years. Most people think the benefit in buying is to "stop throwing your money away on rent," but in fact the equity you build from buying is mostly offset by the money you will "throw away" on taxes, insurance, maintenance, and mortgage interest, which renters don't pay.

The real benefit from buying is that you freeze your monthly payment for up to 30 years (depends on your loan duration) and then you stop paying it altogether. For those who can pay cash ,congratulations! Pautang naman hehe =)

For us Filipinos and other nationalities, I believe having a home you can call your own is an achievement in itself and provides security for your family. So if I were you, go and look for home you can afford and that will suit your needs.

• Buy a House and Lot or Lot only?

Most probably you are buying for investment purposes or is not in a hurry to transfer to a new place, because if you really need a place to stay or relocate to immediately, this will not be your question. Buying a lot gives you lots of control on how you would want your house built but if you don’t have the luxury of time or resources to have it perfectly built, better to buy a sta. rosa house and lot here in this wonderful …may it be new or pre-owned…gazillion choices=). I am sure you will find one that will suit your needs and budget.

In terms of selling, it is easier to sell the house (especially attractive ones ) than to sell the lot only( unimproved ). Overtime, both will definitely appreciate in value. If you’re really lucky you may still get a lot only increase in value drastically when an SM Mall or a big development commences in the area near it.

A plus on buying a house and lot, it is easier to secure a loan from most banks (especially sta. rosa house and lots ) than a loan for lot only purchase… may not be true anymore but I’m sure in case you default on the loan it will be easier for them to sell a house and lot than a lot as well.

I am sure there are lots of fly-by night or not-so-trustworthy agents and realtors out there. Please don’t let this stop you from finding and buying your dream home. What you will miss if you do not talk to them is the in-depth knowledge of the area and property lists that they have and of their real property network. Of course, you can have significant savings by asking for a lower price from the owner-seller since he or she doesn’t have to pay agent’s fee but you will be limited to very few properties.

A lot of owners who want to sell their property are either so busy on their business or work that they don’t have time to market or list their property. What do they do? You are right!They talk to agents and realtor to market and help them sell their properties online or offline. After staying here for more than 10 years have come know the Best Agents/Realtor..giving the real estate profession the good image that it deserves. Just drop me a line or fill up form on Sta. Rosa Real Estate page if you need an Agent or Realtor, I’ll have them contact you for your real estate needs. Should you have the time and savvy to look for a property yourself, I sincerely wish you goodluck and have fun on your House Shopping!=)

• Where to Buy in Santa Rosa?

It will depend on which factors you give higher priority:

• Distance to work ( if you work in Makati and commutes, near Balibago is preferable due to proximity to FX and Bus Terminals of Jam Transit etc )
• Distance to Schools ( lots of schools, the nearness to your desired school will be a consideration )
• Closeness to Family and Friends ( for Two Bottles session )
• Distance to restaurants, nightlife, and recreational areas
.
• Access to Hospitals and Medical Clinics
• Climatic Preference ( it is cooler as you go nearer to Tagaytay because of elevation )

Here are Some Tips in the context of buying a Property in the Philippines:

1. Make sure the "Transfer Certificate of Title" is authentic. The easiest way to check if the title to the property you are buying is authentic is by getting "Certified True Copy" of the title from the Register of Deeds ( nearest office to Santa Rosa is located in Calamba City ). Ask the seller of the property for a photocopy of the title -you will need the title number and the name of the owner to get a certified true copy of the title from the Register of Deeds.

2. Verify that title is clean - meaning the property is not mortgaged (no liens & encumbrances on the property). You can see that at the back of the title with the heading "Encumbrances". This page must be empty if you are told that the title is "clean". But sometimes the space for the technical description of the property on the front page of the title is not enough and the description of the property is continued on the "Encumbrances" page, this is of course all right.

3. Make sure that the land described on the title is really the land that you are buying. You can validate this at the Register of Deeds or by hiring a private land surveyor or a geodetic engineer. Land titles don't have any street name and number to pin point a property, it is a must to confirm that the actual property you are buying matches the technical description on the Transfer Certificate of Title. Or else, you end up buying a land in Neverland …yaiks!

4. Make sure that the sellers are the real owners…a lot of Posers out there. If you are buying from an individual property owner, ask for identification papers like passport or driver's license, it is also a good idea to talk to the neighbors or the Barangay Captain to confirm the identity of the sellers (you might as well ask some history of the property).

5. Confirm that the yearly real estate taxes are paid. Ask for certified true copies of the Tax Declaration and original Tax Receipts to confirm that real estate tax payments are up to date. You can check this at the Ground Floor of New Santa Rosa Municipal Hall.

If the above check list is in order, it is generally safe to proceed with the purchase. But before you do that, don’t forget to perform your due diligence in inspecting the property itself ( the structure, location of the lot where the house is built, the neighborhood). More on this on the House Buying Checklist.

Again for those who can pay cash, Congratulations! You’re doing something right that enabled you to do just that. Give me some tips on how you did it. I’ll forever will be thankful for that. For those who cannot afford to pay cash yet, don’t lose hope. Keep on dreaming and Act! Share me your journey later.

• Bank Financing/Finance Institution - The most common approach here in the Philippines is through Bank Financing or thru a Pag-Ibig loan. Right now, there are some banks that offers better interest rates than that of Pag-ibig. Take note that interest rate of 6% for Pag-ibig is only for loans up to Php 300K only. So shop around, a lot of banks and financing institutions will be more than happy to grant you a loan.
• Family and friends - For creative ways of financing your home, I easily could think of borrowing from your parents ( Mayaman si Papa or Dad is Rich! ). If you have siblings that are well off and you are in good terms with them, go and borrow. Close Friends, same thing, if they trust you enough they surely can’t refuse you. Just promise me, you will pay them and inform them if you encountered any financial difficulty. Better to lose the property than to lose your friends and family.
• Buy Foreclosed/Old Properties – you may have enough money to pay a foreclosed property or an old house that is greatly undervalued. This way you don’t need to take a loan. Just some repairs and inexpensive improvements, you might have uncovered a jewel on the block. Pag-ibig, National Home Mortgage, and Banks thru their Acquired Asset List are good starting point for these kind of properties. Of course a Real Estate Broker should have a list and of those that are not yet listed.
• Company Loan – some companies have this a benefit to their employees for better retention especially of their key talents. Check it out, you may have this benefit available to you all along and you just need to ask for it.
• Cooperative Loan – these is a privilege to members especially of big cooperatives and they offer very low interest rates. Go inquire if they do provide, you will have bigger dividend at year end for several years because your loan amount is big giving you higher rebates and patronage refund.

• Build your own house or hire a contractor?

If you have a knack for it, you can actually build you own house. Just hire a skilled labors and a team of workers who will do the construction for you while you do the project management and do the foremen role. If not, better leave this one to the professionals. The last thing you want is a poorly built house both structurally or aesthetically. More on this on the Contractors List/directory.

• To renovate,add a room, or buy another property instead?

Time will come that your kids will grow and your way of living changes. You may need to add another bedroom, toilet, want a bigger kitchen, dining area, living room. Depending on how much longer you want to live in that place or how difficult it is to perform the renovation if you intend to stay at the house during the renovation, will be the factor you have to consider. The best person to answer this is you.

Are we done here yet at Sta. Rosa House and Lot - Buy and Sell Tips? Nope, we have barely scratched the surface. Stick around..we'll have more coming.=)