A duplex is a type of real estate property that consists of two separate units that share a common wall. Each unit typically has its own separate entrance, kitchen, and living spaces, and may be used as a rental property or as a primary residence. There are several benefits to owning a duplex: Passive income: Renting out one or both units can provide a...
Real Estate 101
Real estate investing can be a good opportunity for doctors to diversify their investment portfolio and potentially generate passive income. Here are a few things to consider if you're a doctor looking to invest in real estate: Determine your investment goals: What are you trying to achieve through your real estate investments? Are you looking for income, appreciation, or both? Your investment goals...
In the Philippines, there are a number of taxes and expenses that you may need to pay when you own a property. Here are some of the most common ones: Real property tax: This is an annual tax that is based on the value of your property. It is typically paid to the local government where the property is located. Homeowner's insurance: This is insurance that...
There are a few steps you can take to verify the legitimacy of a developer in the Philippines: Check for licenses and permits: Developers in the Philippines are required to have certain licenses and permits in order to legally operate. You can check with the Housing and Land Use Regulatory Board (HLURB) to see if the developer you are considering has the...
CTS or Contract To Sell is a document that simply binds the Seller/Developer and the Buyer on a promise that the Seller/Developer will deliver a specific unit of real estate and the buyer is obliged of paying a specific amount in specific terms and duration. It is also your protection as a buyer from the inflation rate, the price increase of raw materials also...
Yes, foreigners are allowed to own real estate in the Philippines, subject to certain restrictions. Under Philippine law, foreigners are allowed to own condominium units and residential lots, but they are generally prohibited from owning agricultural land, forest land, and other types of properties. Foreigners who wish to buy a condominium unit in the...
In the Philippines, the primary government offices that deal with real estate are: The Department of Land Reform (DLR): This department is responsible for implementing land reform policies and programs, including the distribution of land to qualified beneficiaries. The DLR also administers the Land Registration Authority (LRA), which is responsible for registering and issuing...
The amount of money you will need for a down payment on a condominium in the Philippines will depend on a variety of factors, such as the price of the property, the type of loan you are using to finance the purchase, and the lender's requirements. As a general rule, you can expect to need a down payment of at least 20% of the purchase price of the condominium. For example, if you...
In the Philippines, the minimum credit score required to qualify for a mortgage can vary depending on the lender and the type of loan you are applying for. Some lenders may have stricter credit score requirements than others, and the terms of the loan (such as the interest rate and down payment) may also be affected by your credit score. As a general rule, it is a good idea to have...
The first step in buying a home is typically to get pre-approved for a mortgage. This involves submitting an application to a lender, who will review your financial information and credit history to determine how much you can afford to borrow. Pre-approval is important because it gives you a clear idea of your budget and helps you to focus your search on properties that are within...