Things to Check Before You Avail a Home Loan

At this point you MIGHT already decided to avail one of the best home loan packages out there. The next step is searching a house that meet your expectations. Your dream house. The factors Stated below are helpful tips that will save you from a lot of headache before you settle a deal with an agent:

The License of the Developer - Always be cautious and try to ask for the developer's license. More Often They have an expired license.

The Soil - This is important, you could ask the help of a geodetic engineer to analyze how strong the foundation is. There are some properties that are cheap Offered by the developer Because it has soil issues. Like for example, soil liquefaction, this is the term that refers to the process by the soil liquefies are priority in making your foundation stronger and zinc thuS making your house year after year under the soil.

The Construction materials - This is applicable if the property is already built. Look carefully at the type of materials used they've During the construction Such as the steel, wood or cement. Make sure the house construction building materials adheres to standards.

The Fault Line - There are government agencies that have records of your country's fault line. One example is this link Philvocs specified where active faults and trenches in the Philippines. If you found that the property is located in a fault line, then you Should think twice.

History of Flood - The developer will not be leaked this information. It is better to ask the residents around the area. Or observe if there are water marks in the wall near your house prospects.

Ask the developer drainage, where the used waters from your house will go. Ask them how big is the canal water is.

Garbage - Ask the developers   of the schedule of garbage collection.   You Should know this Because it will concern the health of your family. The ideal garbage collection have maximum of 3 days Otherwise it could be very stinky and do harm to you. Uncollected garbage is also an eyesore in front of your house.

Vehicle Accessibility - the best source for this is your would-be neighbors. Ask them if there is a 24-hour transportation in the place. This is Necessary especially in emergencies, or going to and from work and school.

Distance Between important establishments - The property Should preferably situated near important establishments like schools, churches, supermarkets, and hospitals.

Buying a house is the most biggest and riskiest investment you would commit yourself into. It is better to play safe and be extra cautious, after all you do not want you're money go down the drain and that home loan put into waste.

6 Smart Ways To Get Home Loan With Low Interest Rate

You’re an adult now and you want a house of your own, but you have limited funds in your pocket. You might be thinking one of the ways to achieve this is getting a home loan with low interest rate. In an economy where money only trickles, paying a property in parts is an effective solution. Instead of paying it in whole in one gulp then borrowing some money to fulfill your obligation, which results to a neck-deep of debt. I will give you some of the smart ways on how to acquire a home loan with low interest rate.

Group buying - Most of the home loan companies are giving discounted rates when a group of 5 or 10 persons will avail their house loan. Call your friends and office mates and discuss the big discount that they could get if they decide to invest in a home loan. Just pick the company that offers the highest discount.

Befriend real estate brokers – Real Estate Brokers are the first one to know where the affordable home loan offers are. They are the ones that contacted by the developer to offer the properties in the pre selling stage.

Invest in an undeveloped housing project – Keep an eye to those properties that are in the pre selling stage. More often, the developers are offering the properties for a lower price because they need funds for the construction of their projects. 

Properties behind commercialized areas – You can find good numbers of properties that are selling for a cheap price.  You just have to seek a fair deal. If property buyers turned down your offer, just leave your number and wait for their call. This is also the way of networking for potential property sellers.

Buy properties from foreclosed properties – There are some cases where the buyer failed to pay his monthly loan obligation. Just make an agreement with this people. Give the amount that the buyer already deposited to the developer and then pay their monthly mortgage. They will most likely accept your offer if they need money for emergency purposes.

Buy properties that are not commercialized – Most house agents are the experts at this method. They have good eyes to spot the places that have the potential of being commercialized. More often they consider the soil and weather of the place. 

One of the properties you should invest or buy is a house. It is ideal and an economic way than paying a rental fee, which goes in somebody’s pocket and the house you are renting will never be yours. Having your own house is not intended as a short term

Investing in the Right Property

Investing in a home loan is like trust—it starts with a foundation.  When one invests on something, whether it would be on land, housing, a car, or company, one does not divulge himself directly on it; he plans. Basically, one starts with the four w’s in life, the what, who, where, and when. This is simply for the reason that when one invests, he puts time, effort, and of course, lastly, but definitely not the least, money. Every minute, every second, every hour of a day, a week, or a month counts. Every effort, whether it would be of great or smaller value, is not considered minimal in any way. Every centavo, every peso, every coin, every bill, matters at max.

            So, how can one be guided accordingly on investing in the right property? Several books have been written by different investors in all parts of the world. Luckily, in addition to these books, the boom of the modern era has brought different blogs, articles and the like giving hundreds to thousands of tips on how to invest on the right and best property. And as they say, three heads are better than one, so, summing up almost all famous investment strategies, we have come up with an A-B-C guide plan on how to invest on the right property.

Step A.  The NEEDS vs. WANTS.

Our basic education has taught us that there are basic things that one needs in life for survival: food, clothing, shelter – nothing more, nothing less. It makes up a triangle of needs for one’s life. So, in investing in the right property, one must carefully dissect the needs and wants in his target agenda. This is essential for his investment survival

Questions like, “Does it fall under one of my basic needs or is it clearly just a want?”, “Can I have a cheaper but same value version of it?”, “Is it urgently or badly needed now?”, “Can I still work efficiently or effectively without it?”.  Another thing that could be of great help is having a partner, or better, a team, to help you list down and classify all the needs and wants in your investments. A different perspective can help the task be done easier and faster.

Step B.) PRIORITIZE. FIRST THING’S FIRST.

Prioritize what is essential. Food is a priority. Clothing can last for months. This lets substitutes enter the scene such as your other needs, i.e., power bills, water bills, maintenance bills, etc.  Several investors get stuck with repetitive cycles because they keep on forgetting to identify the difference between a need and a want and they cannot stick to their priorities.

Step C.) LET GO OF THE UNNECESSARY AND CAN’T-BE-ACHIEVED-AS-OF-THE-MOMENT THINGS.

Letting go of your wants when financial resources do not permit you takes a lot of courage and pride. The cliché line of the art of letting go applies into this scenario. It is indeed painful to plan and get excited and all with an investment and yet you have to hold back all of a sudden just because your resources provide you with no choice but to look for another one or take the downgraded version of the property.

But hey! Stick with the ABC. Still stick with your priorities.

In this guide plan we have created, our “wants” in life are not considered as forever gone of our reach. But rather, these wants serves as aspirations, as goals, as something to look forward to in the near future. As one marketing strategist has mentioned, “Wants are little sparks of hope and motivation”. And this is how it should always be.

            After surpassing all three steps, one can be said to be surely on his way to investing on the right property. Investing on the property, at the end of the day, lies on the right attitude.