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Buyer’s Guide on House Mortgage versus Renting a House

Whether it’s getting a house mortgage or renting a house, both have corresponding monthly fees and policies to follow. There advantages and disadvantages to each and one should evaluate carefully which option is best.

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Buyer’s Guide on House Mortgage versus Renting a House

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  1. Buyer’s Guide on House Mortgage versus Renting a House

  2. Getting a house mortgage or owning a house is not a priority for most of the country's population. A lot of people prefer renting a house rather than taking on the burden of a housing loan. In fact, a "majority of Filipinos are uncertain of their financial capability.", thus the doubt of whether they should buy or rent a house. With that in mind, let’s look into what the advantages and disadvantages of renting a house are.

  3. Advantage

  4. Advantage1. Low initial deposit and down payment fees

  5. Advantage1. Low initial deposit and down payment fees 2. Monthly rental fee may not include the utility bills.

  6. Advantage1. Low initial deposit and down payment fees 2. Monthly rental fee may not include the utility bills. 3. Monthly budget is easily managed

  7. Disadvantage

  8. Disadvantage1. Rental fee may increase annually.

  9. Disadvantage1. Rental fee may increase annually. 2. Most of the houses for rent are not insured. This will not guarantee your protection from sudden calamities.

  10. Disadvantage1. Rental fee may increase annually. 2. Most of the houses for rent are not insured. This will not guarantee your protection from sudden calamities. 3. Your safety and security is compromised. Only on select cities with recorded cases.

  11. What are the advantages when buying a house?

  12. What are the advantages when buying a house? 1. Monthly mortgage rate is lower or equal to the rental fee.

  13. What are the advantages when buying a house? 1. Monthly mortgage rate is lower or equal to the rental fee. 2. The acquisition of the unit is the best investment as soon as the mortgage is fully paid.

  14. What are the advantages when buying a house? 1. Monthly mortgage rate is lower or equal to the rental fee. 2. The acquisition of the unit is the best investment as soon as the mortgage is fully paid. 3. The buyer has the freedom and control over the house and renovations.

  15. Things to consider when buying a house through mortgage or a housing loan.

  16. Things to consider when buying a house through mortgage or a housing loan. 1. Prepare all necessary papers and requirements when applying for a house mortgage

  17. Things to consider when buying a house through mortgage or a housing loan. 1. Prepare all necessary papers and requirements when applying for a house mortgage 2. The buyer will pay the monthly mortgage fee through bank or from the government financial firm for housing.

  18. Things to consider when buying a house through mortgage or a housing loan. 1. Prepare all necessary papers and requirements when applying for a house mortgage 2. The buyer will pay the monthly mortgage fee through bank or from the government financial firm for housing. 3. The property tax will increase on an annual or triennial basis.

  19. When deciding to buy or rent a house:

  20. When deciding to buy or rent a house: - Evaluate your priorities and give importance to financial literacy.

  21. When deciding to buy or rent a house: • Evaluate your priorities and give importance to financial literacy. • Know the importance of buying and owning a house. Is it for long-term or short-term?

  22. The path to owning a house shows the financial independence of every Filipinos. Thus, if you need any assistance deciding on a quality house or property to purchase, contact us!

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