Very recently, one of my colleagues educated me on Pag-ibig Fund, bank housing loans and good property deals in Pasig City. On Monday, Denver and I visited Riverfront by DMCI. The unit we checked was very small, but we both loved the location and amenities. We could probably get a unit if we forced it, but then we would both have to live cheap until our fifties. A tiny 3 bedroom unit is around 3 and a half million in cash. If you add the 15 year interest through financing, the cost becomes ridiculously crazy for people in our income bracket.
Like I said, Denver and I could force it, but that means goodbye to Starbucks for the next 15 to 20 years, and possibly even goodbye to Mcdonald's value meals. We would probably have to live on tuyo and kangkong everyday. Not that tuyo is bad, but hey, that's still 15 years!
Anyway, it just makes me wonder how other people do it. Of course, this strikes out irresponsible dick-heads born with money, young athletes and instant celebrities. What I mean are other ordinary people like me. My colleague is younger than me, and has held a supervisory position for less than a year, but here he is scouting properties and intending to actually obtain one this year. Yeah, yeah, so he's single and doesn't have the same financial responsibilities, but still, I can't help but admire people like him.
It would be so great to be able to afford our own home here in the Philippines without having to slave away overseas. I wonder if we'd have to get to that point. Sigh. I want a condo, damn it.
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Hi Bebot! Read your blog & found out that you're interested in buying a condo unit. I'm buying one this year too & yes, I too am not so sure how I can manage my finances once I start paying for the amortization...but as they say "no guts, no glory". As if we're getting younger too! I'm buying one in Cainta, Rizal, but it's actually located along the floodway-near De Castro. The are is Pasig, but geographical location is already in Cainta. You might want to check it out too. It's Cambridge Village developed by Megaworld. Mine's pretty cheap, 42 sq m for P1.1MM. Your monthly amortization is at around P10,700/month. Not bad huh?
Hi Val! Glad to know that you are getting one this soon! Let me know how it feels to own one! Haha. I checked Cambridge Village on the internet. I like the loft! Still don’t know when I’m getting one. I just hope I’m not too old by the time I own one. So nice to hear from you. Ü
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