Little Dreams

Over the summer, Denver and I got a little crazy and went property hunting. Pretty ambitious considering we had zero savings and around P80,000 of credit card debt. Unexpectedly, we started to become hopeful when the property agents started throwing in promo figures and Pag-ibig Housing loan terms.

We looked at small houses in Antipolo and Taytay, and condo units around Pasig. My favorite is this small three bedroom home in Queentown Heights Antipolo. We could move in for only 1.5M, and 10% downpayment. I preferred it over all the other houses we visited because it had an overlooking view of Antipolo hills and it is far, far away from the pollution down here at the metro. As soon as we left the place, I put on my black hat and started coming up with reasons not to fall in love with the property. Number one on the list was the commute from home to work and back. Denver has a car, but I don’t. Aside from being really far, my fare would round up to P180 a day, and that’s by taking a tricycle and an FX. I would have change left from P180 if I took a cab to and from my apartment. If Denver and I managed to get the same schedule, we would still be paying for more gas compared to our consumption from Pasig. Ippo’s school is another big consideration for me. If I had a girl, I wouldn’t think twice about sending my daughter to Assumption Antipolo, but I don’t know of any good schools for Ippo in Antipolo. He is already enrolled in a good Pre-School near our apartment, so transferring is not such a good idea, and there is no way I am letting my son travel all the way from Antipolo to Pasig five days a week just to spend two and a half hours in little school.

A house in Pasig would be ideal for our work and Ippo’s school, but it’s also way more expensive. Its also the reason why we started looking at condos. I liked the model units in Cambridge Cainta. They also had terms we could afford - zero downpayment. We’d have to do serious budgeting though, because they have this annual lump sum thing, plus you have to pay for a parking slot and monthly dues for upkeep. Its closer to work but its not very commutable at the moment. The condos are located in Floodway. No problem if I had my own car, but since I don’t, I have a feeling I’ll end up with an ice pick on my stomach on my way to work.

We’ve ended our search, but realized we want a house vs a condo. Nothing beats having your own garage, having the freedom to use a magic sing without other tenants complaining, being able to hold a small party for your boy and having hyperactive kids running around your own lawn. But this is something that we cannot afford at the moment. Not without sacrificing our lifestyle and not if we really want it to be near the city. Something good has come out of our house hunt though. Since that phase, weve managed to pay off at least half of our credit card debt and I’ve also started saving. Maybe sometimes, you really have to see what you want first to give you a push towards your goal.

The last unit we saw - Hampton Gardens

Wishful Thinking

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.