It's a milestone before I turn 30, I bought my first property at the age of 27.
Here's how I made my dream into a reality.
How It Started
"Adulting" hit me hard when I started working as a journalist. There were lots of responsibilities and bills to pay.
Until one day, I just wondered where all my hard-earned money had gone. I also realized that I wasn't prepared enough for my future.
I tried several methods of saving my income. After several years, I was able to build my emergency and retirement funds.
But I didn't stop there. I invested.
YouTube Is My Bestfriend
I didn't know where to put all my savings. I didn't want it to sleep in the bank and earn a measly 0.001%-0.10% interest per year.
Just like before I started my fitness journey, I researched a lot before investing.
YouTube had been really helpful in suggesting videos about investments. I watched different vloggers and they were saying the same thing - invest your money in properties.
So I did.
But How Did I Do It?
It wasn't simple. I had no idea how to purchase a property especially that my salary was just enough for my family's needs.
I had zero knowledge of how to transact with real estate agents. I didn't even know who to ask and how to start.
I was as clueless as you right now.
But Here's What I Did
I searched for home developers in the Philippines. I started with the big ones like Ayala, Filinvest, Avida, and Megaworld.
After reading their offers, I instantly said no. They're all pricey! That's because the property cost in Metro Manila is expensive.
So I moved on and searched for the less known home developers. These are Axeia, JCRZ Realty, and Micara Estates to name a few.
This time, I targeted nearby provinces in Metro Manila - Laguna, Cavite, Bulacan, and Rizal.
I searched them on Facebook and read the details of the properties they were offering. But I was lost.
Talk To Real Estate Agents
As a solution, I asked questions to real estate agents from different developers. I used my Facebook account to chat with them. They were really helpful and patient answering all my questions about the properties, the terms they used, and the pricing.
I almost bought a property from Axeia in Cavite but I found out that they hadn't started the construction yet. I also read a lot of bad reviews about pre-selling units.
So I moved on and searched for another way to own a property. I found out about the Pag-IBIG Acquired Assets.
I Purchased My First House From Pag-IBIG
The cheapest and easiest way to own your first property is by buying through the government's Home Development Mutual Fund or known as Pag-IBIG.
The agency offers foreclosed properties in different provinces. Pag-IBIG members can purchase through bidding or negotiated sale.
Again, I did a lot of research first on how to buy a foreclosed property. With enough knowledge and courage, I tried my luck in bidding on a property.
Then...
I won on my first attempt! It was in June 2021, just days before my birthday, when a Pag-IBIG representative texted to inform me that I won the bidding.
Weeks later, I processed all the papers and fees. The next thing I know, I already own my first property at the age of 27.
I am Officially A Home Owner Now
On August 2, I signed the turnover papers. I also got the keys to the house.
It's a bare-type townhouse in a subdivision in Tanza, Cavite. It costs less than P1-million pesos.
The property that I got was a new unit without any former occupants. I was very lucky to get the house.
What To Expect In My Next Articles
I will talk about the following:
- Step-by-step: How to bid foreclosed units in Pag-IBIG
- Definition of property terms
- How much did I spend on my first property
- Are foreclosed properties better than pre-selling units
- What's next for my first property
If you have questions or suggestions, leave a comment below. I would love to know your insights!
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