October 10, 2009

Pains of House Building ~ Tips on House Contruction

HOUSE CONSTRUCTION is such a big word. Not to mention EXPENSIVE.

We have been planning since like ages and with two kids (ages 1 and 5) in tow, it better be soon.
We lived in a 4BR bungalow type house owned by my parents, who migrated abroad and left us the house. It is an old house. I was barely six (6) years old when we moved there. I recall that we were one of the first houses in the
village and that the road was not even paved, when we first moved in.

You can just imagine the toll left on an old house by Millenio and Ondoy!

We just had to rebuild!

(this old house)

Finally on January 3, 2010, with our amassed strength, we
got a bank loan (in addition to our savings) and started building our "dream house".


(1) Be sure you have the house titles in order, especially if you have plans of applying for a mortgage.

(2) Depending on the total cost of your dream home, you need to have at least P100,000 to P200,000 to ensure continued construction. Release of loan for construction is staggered and the bank will not release until your contractor is able to deliver the needed percentage of completion.

(3) Even if you are getting a loan from a bank, you would still be shelling out the cost of MRI, CARI, Fire Insurance, documentary stamps and registration. For a P3M loan this would cost you an additional P50K. This does not include the building permit and other permits you need settled with city hall.

(4) Do on line research. It would give you an idea on whats efficient, comfortable and nice to look at.

(5) Try applying Feng Shui to your designs. I heard that the value of the house appreciates with Fung Shui.

(6) If you want to get rid yourself of the trouble... less ofcourse the additional expense, hire yourself a contractor! This what we did. Hire somebody you know! Otherwise get referrals.

(7) Even with a trusted contractor, be involved in selecting the flooring, roofing and the house colors (interior and exterior).

(8) You need additional permits to move in. Yup, "gastos ulit".

(9) Finally, if you think you are done with the "gastos". Think again! With a beautiful house... you would need fine sets of furnitures and appliances.

Some pictures from our new home :)

(The Masters' Bedroom)

(The Masters' Bathroom)


(Dining and kitchen area)


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