@remofm
I Bought My Own House At 27, Here's How I Did It
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! #house #property #millennial #investor
23 comments
Wow, you have made me so inspired by your achievements. Congrats on having your new house. *We tried saving money before, the first step is to have an emergency fund and we really save 5 digits that time but sadly unexpected things happen and now our emergency fund was gone and just this month we are starting to save again.
I'm happy to inspire so many people who read my blogs. I'm even more energized to finish more entries that you can read. Good thing you had an emergency fund to spend during the crisis brought by the COVID-19 pandemic. We were at a better position with the money we spent.
Investing in real estate with a portion of the profit is one of the best decisions that can be made. It is never necessary to collect all investments in one direction.
Indeed! Instead of spending my time and money on gadgets, and other non-sense stuff, I invested my hard-earned saving in real estate. I learned this from a vlogger on YouTube. The property was worth every cents.
Congratulations! Sana all, and looking forward to your next articles!
Thank you, jasglaybam! I'll publish the next articles soon. Stay tuned for that. I hope that I inspired you with this one.
You definitely did :) I used to work in the BPO under a mortgage account. Hopefully I won't have nosebleeds with your mortgage terms lol
I'll also try my best to explain these complicated terms. Not only that, there were lots of documents to prepare and sign. I'll put it in a nutshell that is easy to understand. I'll publish it soon.
Im gonna follow your article sure, I'm 2o years old yet studying because I'm a victim ok k-12 but I want to have my own house before I reach my 30's. And so you just gave me an idea what to do. I also want to live in a place like cavite and laguna for I know they have some cheap housing cost and there's also opportunities there. I'm still thinking and hoping to reach my dream. Thank you, if you don't mind pls notify me or mention me for your next Article thank youuu sirrr
I will, lazysnail! Never stop dreaming! Good thing you already have that in mind while you're still young. In my case, I didn't even realize it until I was 25. Just hold on to that dream and continue to pursue it. I will write about more on this as soon as possible.
Nice! Looking forward to your next articles about this topic. I wish we researched about investing on property before starting a family. Also hoping for your next articles to be in layman's terms for investing newbies like me. 😂
Thanks, melsiebelsie (sounds like poplar brand of disinfectant). Haha! I'm working on new articles about buying a foreclosed property. It's ok of you already have a beautiful family. I'm sure you're happy. We have our own pacing and priorities in life. In fact, last night, I tried to put some definition of terms in the article. But I took it out because it made my entry too long that it might bore readers. So I decided to make it piece by piece so you can digest the content very well. I'm wondering if you want my next article about investing in properties in Tagalog? Or you want it in English? Just conducting an informal survey, I need to know what readers like to see.
Well I'm happy for you! You can now get married since you already have a house! Hahaha. Very smart move. I hope my sibling will also do the same. I already advised they look at bank foreclosed properties since I keep getting badgered with looking for an affordable property. Upon seeing this I just messaged my sibling to look at PAG-IBIG properties too. Lol.
Thank you so much! I hope that I can inspire your sibs, too. Alam mo ba, I also tried looking for bank foreclosed properties. Pero grabe, it's as expensive as a brand new unit that's why didn't push through with it. There are also limited choices, at least five to 10 units lang per area in some banks that I checked. Last na, they're asking for 20%-40% downpayment that's why it was a hard pass. I will also write about it soon, BATTLE OF FORECLOSED PROPERTIES: PAG-IBIG VS. BANK. Daming alam pero something like that. Hehe.
Sige lng share m lng experiences m. More BCH more fun. Haha.
Good research and tiyaga! Congrats sir sa house!! Good investment!
Salamat sa pagbasa ng mga blog ko, Pichi28! It means a lot! Sobrang na-inspire ako mag-share pa ng mga kwento.
I think you deserve it man. good for you. I wish I could buy may own house and lot someday.
Aww. Thank you so much, Bjorn! I hope you fulfill that wish someday. I believe in you! You can do it too. Upon reading your article, I can say that you're a determined man who's very kind and enthusiastic. Keep going, bruh!
Like you in my late twentys I invest on residential lot through PAG-IBIG payable in five years. Time flies so fast now it is titled in my name and was about to build an apartment but pandemic invade so everything became a nightmare and I was planning selling. It hurts to give it away but I have no choice.
That was fast! I still have 20 years to complete my housing loan. Haha. I think you did a wonderful job buying your own property at an early age. It's a win win for you.
Lot loan is cheaper than a house and lot (subdivision unit) so the terms of payment was just 5 years.
I see. How much was it? My initial plan really was to buy a lot because when I saw the prices on the list, you can buy a vacant lot for as low as P100,000. But I stopped my self because I really wanted a property that I can rent out.