Tips on Home Renovation

What is House Renovation?

Quicktips in Renovating a House

House renovation refers to altering or making changes to the existing building or structure in order to improve its appearance or to suit certain requirements of the homeowner. House renovation may includes minor improvement works such as painting or tiling works and major works such as house extension.

Renovation may also include house restoration which is the process of bringing back the old house back to its useable state. This will include stripping down the existing house of its old or damage parts and replacing it with new ones.

Cost of House Renovation

The cost of house renovation will depend largely on the scope and details of works to be done. Cost estimation using the area method is hard to employ in house renovation estimate. The house contractor must determined first the requirements of the owner, draw a plan and subdivide the scope into manageable details in order to come up with an accurate cost estimate or proposal.
The house contractors must also include in his computation the cost of restoration of possible damages to the exiting structure as well as the protection to be provided to the existing building while the renovation is on-going.

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Choosing the right house renovation contractors / builders

In choosing a house renovation contractors, the homeowner must keep in mind that the location of the contractors will play a major role in the success of the project. House renovation, generally, is usually of small scope. As such, paying a huge mobilization fee for a far-away construction company may not be practical. Homeowners can also easily check the previously completed construction projects of a house builders nearby. The contractors will also be readily available for repairs and corrections during the warranty period of the project.

Contractors who provide a more detailed estimate must also be given prior considerations. This will mean that the construction company is more knowledgeable and experienced for the subject project. A detailed estimate will also prevent misunderstanding between the homeowner and construction company during the construction phase.

Permits needed

Depending on the scale and type of renovation, a building permit may be required by local authorities. Small scale renovation such as painting or tile-setting will not be required to secure a building permit. However, when a house renovation includes structural and electrical works, then a building permit is definitely required. When the property is inside a subdivision premises, a construction permit from a developer or homeowners association is usually required before the renovation can be started. The subdivision administrators will in-turn determine whether the renovation works will need a building permit from the municipal authorities or not.

Furthermore, additional electrical loads in house renovation will also force the construction contractors to increase the feeder wire coming from the Meralco line. Meralco on the other hand will require an electrical permit form the local authorities which in-turn will require a certificate of occupancy before approving the electrical permit. Certificate of Occupancy certifies that a house renovation complies with the local codes and regulations. In simple terms, it will mean that the home builders follow the approved plans included in the building permit. If during the construction stage, the homeowner have decided not to follow the plans and build a different structure, then he may have problems securing a certificate of occupancy and will not be able to upgrade the electrical connections to suit his requirements.

Guidelines for House Renovation

The process of renovation can be mind bending. Starts with design/ planning, looking for contractors, and hiring the best contractor to do the job.  You also need to look for a temporary residence while renovation in your home is ongoing. Staying at your home during renovation might not be good to your health specially your children.

It is good to keep in mind that there are instances where renovation is more expensive than new construction because of the demolition work involved as well as the retouching of existing structure/finishes. It is best to engage the service of engineers during planning stage to ensure that you come up with a beautiful yet practical and economical design.

It is also advisable to schedule the renovation works during dry seasons. This will maximize the productivity of workers and will prevent unnecessary damages to your home due to water leaks.

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To Buy a House and Lot or to Rent a House?

Buying versus renting property: which is right for you?

Did you know that only about 40 per cent of Filipinos own their own home? This figure, from consumer banking firm Citibank, is one of the lowest in the Asia-Pacific region.

But with the price of rent increasing, buying property outright may make better financial sense. So how do you decide whether buying or renting is right for you?

Consider all the costs

Some say rent money is wasted money. Renters pay a large bill every month and, unlike with investing in property, you never recuperate any of the costs. But owning property comes with several additional fees and taxes that you need to take into account when deciding whether to buy – think closing costs, repairs, regular maintenance and interest on your mortgage.

In the Philippines, documentary stamps tax of 1.5 per cent is levied on the sales price or market value, whichever is higher. Buyers must also pay a transfer tax of between 0.5-0.75 per cent. Remember to take these into account when calculating how much your new home will cost you in the long run.

If your only concern is your budget, then there is a great measure for checking whether buying or renting makes more financial sense. Calculating the price-to-rent ratio is pretty simple:

Step 1: find two similar properties, one available to buy and one to rent.
Step 2: divide the price of the property for sale by the annual rent for the second property. This is the P/R ratio.
A P/R ratio above 20 means the cost of buying the property will likely exceed the costs of renting, according to the New York Times.

Think about your lifestyle

However, at the end of the day there is more to this decision that just money! Even if you can afford to buy property outright, you might still decide renting works better for you. One key factor is the flexibility that goes with renting. Renters can often afford to live in urban areas close to work and other amenities, while buyers are sometimes forced to choose a home further afield. And if you don’t like an area, it is also much easier to leave.

Here are a few questions to ask yourself before you buy:

Do I prefer the flexibility of renting or the stability of being a homeowner?
Do I like living in the inner city or am I most at home in the suburbs?
Is this home a good fit for the lifestyle I want?
Will I be able to relocate easily if work requires it?
Am I willing to look after all maintenance and repairs myself?

Source: Lamudi.com

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A little Cautious Way of Dealing with Real Estate Agents

Sometimes real estate agents tend to trick buyers and these are becoming rampant with each passing day. However, if a buyer remains a little cautious, then searching for a property, even with a dealers’ assistance becomes easier. The post explains few ways of dealing with dealers’ tricks.

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Buying a property often involves dealing with an agent. While, we do derive extensive information from them about buying and selling properties, we must understand that they are not a buyers’ friend. This is said because, often times buyers end up completely trusting these real estate agents, thus getting trapped in their tricks. Before you think of hiring a real estate agent, glance through the following paragraphs:

- Understand that real estate agents are not a buyers’ friends; they are mere businesspersons who work for the seller, get them the best possible deal and in return the buyer pays them.

- There are very few real estate agents who work on salary

- Most real estate agents earn through commission. If an agent is unable to close a transaction, he or she does not get paid.

However, having said all these, we must understand often we are tricked by agents; especially first time home buyers who have resorted to a real estate agent. So, it is advisable that you do not get tempted about explaining everything to the agent. Such information might be used against you, thus leading you to finally compromising on your chosen residential property. The agent will get an idea and will know how far he can push you if he is already aware that you have already missed out on three/four properties before you approached this particular one. But do not be afraid of getting your points across with the dealer. Some tips of dealing with dealers’ tricks are explained below:

You Need to Approach an Agent

Do not expect that an agent will send you properties if they are available. It is better that you remain a little proactive in the house hunting process and remain involved with the agent throughout the process. Go and check out properties with the agent if possible. You will not only get to see various types of properties all by yourself, but will get to learn a lot through this process.

Bank Valuation does not benefit the Buyer

Often a buyer is fooled by the fact that bank valuation benefits the buyer; understand that a bank valuation is for the lender and not for the buyer.

Agents get paid only after the Transaction is over

Well, this is one of the most important aspects while it comes to dealing with a real estate agent. Since they are paid only after the transaction is over, they will always be keen on helping a serious buyer. So make sure that you project yourself as a serious buyer and monetary transactions are not a constraint.

Ignore any kind of incentives or discounts offered by the Agent

This is one of the major tricks played by real estate agents. They use incentives and discounts to lure their customers. If someone pays your moving costs or your stamp duty, then it is included in the price and you will have to repay it above and over the next 25 years’ of your mortgage.

Confirm every Conversation that you have with your agent

While verbal communication is important, make sure that you confirm every conversation that you have with your agent. Ask for an agreement if possible. Alternately, do not forget to keep a track of the appointments engaged in, any kind of offers made or any bids that were rejected along with terms and conditions. If you do so, it will give the agents an impression that not only you have genuine interest in the buy/sell process but your are aware about the basic process involved in property dealing.

Never opt for your Finances from the Agents’ Services

Dealing with finance is an integral part of the entire buy-sell-rent process; always opt for a reliable adviser. You may get the quote from the agent, but do not forget to discuss finances with your mortgage advisor.

Cross-check everything that an Agent Tells you

Never trust an agent blindly; always cross check everything that an agent tells you regarding a property or a location. Visit locations in person so that you get a fair enough idea about location as well the property.

While, agents do tend to trick buyers, hiring them also has an advantage as house-hunting becomes a little easier. If you are pro-active and take the above-mentioned precautions while dealing with an agent – searching for a property through agents can yield good results.

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Tips Before Buying a House (FSBO)

Tips Before Buying a House (FSBO) 

Transfer Cerficate of Title

FSBO is an acronym meaning "For Sale By Owner". You do not need an agent actually to buy a house. Statistics says that 20% of home purchases are done without an agent involved. Yes you can but if you decide, you should be ready to deal with the inconveniences of buying without an agent. Here are some tips you must know before buying a property.

1. AUTHENTIC TRANSFER CERTIFICATE OF TITLE.  You can verify the veracity of documents from the office of Register of Deeds. This office is usually located at the city or municipal hall where the property is located. Request a photocopy of certificate of title of the said property. Get the title number, the name of the owner to be able to process the request.

TCT with Encumbrances

2. CLEAN TITLE. Clarify if 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. VERIFY  THE PROPERTY'S DESCRIPTION IN THE TITLE TO THE ACTUAL SITE LOCATION. 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.

4. REAL OWNER.  If you are buying from an individual property owner, ask for proof of identity, identification cards like passport or driver's license. You should also check the person’s identity through the seller’s neighbors or the Barangay Captain from which the seller reside just to confirm the identity of the seller/s. You can also trace the history of the property from the Register of Deeds.

5. UPDATED REAL ESTATE TAX PAYMENTS. Ask for certified true copies of the Tax Declaration and original Tax Receipts to confirm that real estate tax payments are up to date.

These are some of the more important things to know about buying a property. Please be advised that the amount involved is huge. In the end, it is safer to hire the services of a knowledgeable real estate broker/agent

If the tips above is observed, it is generally safe to proceed with the purchase of property.

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I Do Official Teaser - Shot inside Lancaster Village, Imus, Cavite

Soon in ABS-CBN, a new teleserye I Do will be aired featuring Judy Ann Santos. The shooting was held at Lancaster New City, Imus, Cavite.

I Do Official Teaser - Homes for Sale by Owner Lancaster Village

Watch the Famous film and television actress Judy Ann Santos-Agoncillo hosting  the newest reality show originally conceptualized by ABS-CBN called “I Do.”


“I Do” will feature nine couples who want to tie the knot. They will be housed inside the “I Do” Village especially built for the reality show.

The houses there are patterned after the Pinoy Big Brother (PBB) house It will be covered by eleven small cameras 24/7 to track the couples’ every move.

Judy Ann or “Juday” to her many fans said the participating couples will be given challenges not to break their relationship but to strengthen it so they will be well equipped and more mature in dealing with married life.

The participating couples will be immersed in possible situations they may encounter should they get married. Juday hopes the reality show will be able to successfully guide the couples.

Married life issues will be tackled in the program from having children, living with in-laws and household expenses.

“We hope we inspire couples and show them that marriage is an eternal vow and a commitment,” Juday said.

Aside from hosting the program, Judy Ann will be part of the council that includes love and family experts who will dispense advice to participants.

Judy Ann shared that she feels jittery because she’s married for only five years, hence her ability to give a good advice will be put to test.

The show’s winning couple will have a good start as husband and wife for they will be rewarded with a magnificent wedding, a honeymoon package, a house and lot, a car and 1 million pesos.

“I Do” will be aired in the third quarter of the year. Judy Ann will be working with comedian and PBB product Jason Gainza as her co-host.

Watch Juday tour UKG host Bianca Gonzales inside the “I Do” Village.

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HOMES - Quick Tips for First Time Home Owner (Pre Selling Houses)

HOMES - Quick Tips for First Time Home Buyer/Owner (Pre Selling Houses)

Home buying as well as home shopping are important decisions a starting family will  have make with respect to time and financial terms. Allow us to offer some quick and money saving tips. HOMES steps are;

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1. H- HOME SEARCH

a. Set a Maximum Budget. How much you can afford in terms of Total Contract Price if you are buying in full cash or monthly installment payment for financing terms. For you to  ascertain how much you can afford in amortization payments, industry practices estimate 30 to 40 percent of household gross monthly income for housing expenditures.
b. Enumerate your Criteria of your Dream Home. Lay down your ideal home features, home advantages and benefits as guided by your budget. For starting family you may opt for townhouse, or condominium studio unit. You may restrict your list to homes being offered by housing developer who gained high industry reputation.
c. Search and Compare House Models. You can easily browse the internet for ads/videos of house models or rely from your friends and family’s recommendations. Here Filprimehomes listings may be of help, our house models are mostly located in Mega Manila  Philippines a densely populated urban area.

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2. O- OBSERVE AND NEGOTIATE

a. View House Models. Schedule your house viewing on you day off or other free time with a real estate broker. Have ample time to see and compare more units as much as possible so as not to be constrained to make decisions in a hurry. Home buying is mostly family’s biggest expenditure. Big Housing developers employ in-house agents and brokers. Sometimes it is good to negotiate with them for added safety, savings and access to better unit location. Prepare a set of questions while viewing, to clarify advertised home features, advantages and benefits. Be aware of the location in terms of accessibility of transportation, road network and village community, safety as well as convenience of amenities.
b. Negotiate. Choose your right home. Once selected, negotiate for the best and possible payment terms and conditions according to how much you can afford. Inquire about the developer or Realty firm's promo and discounts. Look for better payment terms, installments due date to avoid penalties and forfeiture. If you have good credit record and can produce clean documents you may choose for lesser interest bank financing. For government employees, Pag-ibig financing mostly is the option. Otherwise, in-house financing which has shorter payment period and interest-laden but less hazzle to documentary requirements may be the only choice.

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3. M- MAKE A DECISION

a. Pay the Reservation Fee. Upon consideration of all the alternatives available, choose and decide on the most acceptable home by paying the reservation fee. This entitles you the exclusive availability of the unit for a certain period. Most developers offer discounts upon reservation payment. Next, have time to attend the counseling. Some developers make it a must. You may learn your rights, duties and responsibilities as a would be home owner. Feel free to air your concerns during the session, as this will be your grounds in the future if things turn out bad.
b. Calendar your Payment Schedule. To avoid penalties and worst forfeiture of your home, take note of your calendart of payment schedule. You will be provided by the developer upon reserving a unit. Philippine Real Estate law allows forfeiture of a unit  for non-payment of amortization within 3 consecutive months.  Set allowance, like setting aside an amount equivalent to one month payment in advance to avoid diversion of funds to emergency expenses. Stay in touch with your agent, broker and developer for updates about your account and house construction.

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4. E- ENSURE DOCUMENTS AND HOUSE TURN OVER

a. Submit Documents on Time. Most housing developer set a period of 60 days to comply with documentary requirements. Ask your agent/broker/developer about the details, due dates of submission. Failure to comply within prescribed period may result to delays in financing loan application and forfeiture of promo but the worst, forfeiture of the unit.
b. Update Payments. Make sure to be updated with your payments as scheduled. Particularly during down payment period, this may be the basis for early processing and approval of your loan.
c. Know your Turn Over Date. Ascertain when will be that date. This is to plan your renovation and utilities connection like water and electricity. Big developers may provide in house service for them. As to renovation, you will be asked to submit your renovation plan and to pay the corresponding construction bond. The amount will be refunded also upon completion of renovation.
d. Inspect your Home. Schedule you day of inspection. Bring along your family, and/or loved ones with you. This will give them a glimpse of the family's future home. They will also give you feedbacks and ideas about what needs to be done. Enjoy the feelings.

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5. S- STEP INTO YOUR NEW HOME.  Congratulations. Your family deserves one.

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HLURB reminders in Real Estate Investments

HLURB reminders in Real Estate Investments
Filprimehomes

WHILE real estate projects are seen to increase this year, the Housing and Land Use Regulatory Board (HLURB) in Central Visayas Region is reminding buyers to be cautious on their investments.

HLURB Regional Director Alixes Roy Lopez warned the public to follow the agency’s guidelines before and after buying properties since there are developers who do not follow these.

“Out of the 50 developers, two of them violate,” he said.

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The guidelines, according to Lopez, are meant to protect buyers and safeguard their investments from the inability of the developers to meet what they promised clients.

Lopez said that before buying a property, one must check if the project has a License to Sell issued by HLURB. The interested buyer can ask the seller or the agent if the project is registered. They can also verify the license at the HLURB website at www.hlurb.gov.ph.

Lopez also advised buyers to visit the site of the subdivision or condominium project which they are planning to buy and check for the project’s date of completion, which is indicated in the License to Sell document.

If the property is mortgaged, the director advised buyers to check for the Mortgage Clearance from HLURB.

Checking the facilities and amenities represented in the project’s advertising material or brochures is also necessary, he said, because some developers promise great amenities but do not deliver after completion.

He said that it is also important to verify if the features are in accordance with the approved subdivision and condominium plan.

When buying, Lopez said buyers should first check if the broker or agent is registered with HLURB. It is also necessary to verify if the property has not been sold to buyers and if the materials used in the project conform with the development standards and building plans.

Before signing the agreement, the director encouraged buyers to read the Contract to Sell thoroughly and never sign a blank contract.

The contract should be registered with the Registry of deeds.

Securing a copy of all the signed documents and always asking for an official receipt for every payment transaction should always be followed.
Source: Sun Star

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