Posts Tagged ‘Real Estate’

Want a great retirement?

I have been meeting people the last few days who are living a great life at retirement time and they shared with me why.

One is Ma’am V who just acquired a $ 600K luxury condo and Sir F who bought at least 3 vacation condotels and buying more.

They have travelled the world with their families spending quality time and love and keep travelling to this day and have sent their children to ivy league schools.  Also, they own a lot of rental properties in America, Canada, Mexico, Caribean and now have been investing in the Philippines. They are both Filipinos.

They say it all boils down to “SAVING”, consistently.

Today as i open the net to check my mail, i saw this link on Yahoo’s front page. This explains in figures what we

should be saving to be able to travel and have investments in the future and have a great retirement.

Based on the article, I should be saving at least $671 a month…check how much should you save to have a $1 Million on retirement.

Similarly, author Al Sembrano who wrote 10 Secrets of the rich say the same thing… You can

get his book at any National Bookstore, Powerbooks or online at http://sikreto.com

Real Estate is booming in Boracay

In the locally distributed monthly paper called Philippine Wide Boracay, the December issue says “Real Estate in Boracay is Booming”.  I believe this is true because of the so many Condominium Hotel developments in the Island. I saw at least five such as The Crown Regency Boracay along the Main Road, which will boast of the largest swimming pool in Boracay and the biggest Convention Center; The Alta Vista De Boracay in Yapak which has at least 2 of the 18 clusters already operating; Alice in Wonderland along the white beach, 7 Stones also on a beach front on the other side of Boracay Island where kiteboarding is a hit, and Paradise Garden View which is located on a high part of Boracay which has overlooking the sea units.

 

Any real estate agent who will seriously market properties in Boracay can make a killing in a great opportunity. I say these because there are at least half a million tourists who visited the island last year (2007), and hitting 1 Million tourists by 2010.  Also, a lot of these tourists are Balikbayans who are very interested in investing and Tourists who fell with the island who wants to own a piece of Paradise.

Bank Financing Charges for Real Estate Loans

How much are the Bank Fees when you make a real estate loan in the Philippines? 

These are what the loan charges are like for a P1 Million Housing or Condominium loan. 

 woodland-hills-dmci-homes.jpg

The following are estimates only. 

SCHEDULE of LOAN CHARGES 

  1. Mortgage Redemption Insurance Premium Php 5,800
  2. Fire Insurance Premium (FIP) P 1,100
  3. Mortgage Registration Fee P 9,000.00
  4. Processing and Notarial Fees P 3,500
  5. Doc Stamps on Promisory Note P 5,000 

   Total Charges: P24,000.00 

I got this from the Bank Financing Seminar held at Celebrity Sports Club conducted by DMCI Homes, Inc. with UCPB V.P  Yolanda De Claro.

I will share about the Pre-Qualification requirements in the following post for Real Estate Bank Loans. Stay tuned… 

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