Experience in Buying a House

Envy

@TasBurrfoot, @JCSantos,

question naman po mga bossing..

bukod sa initial cashout ; magkano ang difference ng monthly cashout nyo when you were renting vs when you bought your own houses (if you both dont mind sharing some numbers)

peach17

Thank you sa tips @TasBurrfoot, sisimulan na namin ang Steps 1-3 hehe

Nagdeposit ba kayo ng 20% para walang LMI?

peach17

@Envy, nag iisip isip na din kayo bumili ng bahay?

Envy

@peach17

uu nag iisip palang... may isa lang talagang pinoproblema namin eh..pera..:D

gusto ko sana maging well informed sa mga gastusin at benefits ng may sariling bahay dito.

kasi kung iisipin mo, if you rent here for the next 20 years you could have save maybe hundred of thousands vs paying mortgage. With these amount imagine what you can invest in Phils when you retire. sabi nga ni @TasBurrfoot its a personal choice but i wanted to get a clearer picture before we commit on something.

This outlook of course is towards myself spending retirement age in Phils.

TasBurrfoot

Thank you sa tips @TasBurrfoot, sisimulan na namin ang Steps 1-3 hehe

Nagdeposit ba kayo ng 20% para walang LMI?

Yep, no LMI...

TasBurrfoot

@TasBurrfoot, @JCSantos,

question naman po mga bossing..

bukod sa initial cashout ; magkano ang difference ng monthly cashout nyo when you were renting vs when you bought your own houses (if you both dont mind sharing some numbers)

This is a hard question kasi depende naman ito sa choice mo eh... Pwede ka mag rent ng 4 bedroom house sa isang prestigious suburb in Melbourne - monthly rent mo nito is 750/wk...

Nakapag ipon ka ng konti and you were able to buy a 3x2 house 30km away from the city and monthly amort mo is 500/wk...

So ayun - the variables can go on and on...

For my case though, I am paying 700 more per month now in amort compared to my rent - di pa kasama dito ang insurance and council tax which would probably cost around another 300 per month all in all.

TasBurrfoot

@peach17

uu nag iisip palang... may isa lang talagang pinoproblema namin eh..pera..:D

gusto ko sana maging well informed sa mga gastusin at benefits ng may sariling bahay dito.

kasi kung iisipin mo, if you rent here for the next 20 years you could have save maybe hundred of thousands vs paying mortgage. With these amount imagine what you can invest in Phils when you retire. sabi nga ni @TasBurrfoot its a personal choice but i wanted to get a clearer picture before we commit on something.

This outlook of course is towards myself spending retirement age in Phils.

To put in in perspective @Envy eto yung babayaran mo when you rent or buy:

Rent:
- monthly rental
- utilities

Own a House:
- monthly amortization
- home insurance (and possible content insurance)
- council dues
- utilities
- repairs and maintenance

peach17

@peach17

uu nag iisip palang... may isa lang talagang pinoproblema namin eh..pera..:D

gusto ko sana maging well informed sa mga gastusin at benefits ng may sariling bahay dito.

kasi kung iisipin mo, if you rent here for the next 20 years you could have save maybe hundred of thousands vs paying mortgage. With these amount imagine what you can invest in Phils when you retire. sabi nga ni @TasBurrfoot its a personal choice but i wanted to get a clearer picture before we commit on something.

This outlook of course is towards myself spending retirement age in Phils.

To put in in perspective @Envy eto yung babayaran mo when you rent or buy:

Rent:
- monthly rental
- utilities

Own a House:
- monthly amortization
- home insurance (and possible content insurance)
- council dues
- utilities
- repairs and maintenance

@TasBurrfoot, lahat ba yun babayaran on a monthly basis? (I mean yung nkalist under sa Own a House?

peach17

tanong pa pala... since bagsak ang economy ng Australia ngayon, tama ba na ngayon maganda bumili ng property? or hindi, kasi nagtaasan lahat ng prices.
naguguluhan ako hehe sana makatulong kayo mga masters @TasBurrfoot and @JC_Santos....

pag bagsak ang economy, ano effect nito sa presyo ng mga houses for sale?

Envy

@TasBurrfoot, @JCSantos,

question naman po mga bossing..

bukod sa initial cashout ; magkano ang difference ng monthly cashout nyo when you were renting vs when you bought your own houses (if you both dont mind sharing some numbers)

This is a hard question kasi depende naman ito sa choice mo eh... Pwede ka mag rent ng 4 bedroom house sa isang prestigious suburb in Melbourne - monthly rent mo nito is 750/wk...

Nakapag ipon ka ng konti and you were able to buy a 3x2 house 30km away from the city and monthly amort mo is 500/wk...

So ayun - the variables can go on and on...

For my case though, I am paying 700 more per month now in amort compared to my rent - di pa kasama dito ang insurance and council tax which would probably cost around another 300 per month all in all.

thank you. nakakabilib naman..

i get the idea. very well explained . thumbs up

TasBurrfoot

@peach17

uu nag iisip palang... may isa lang talagang pinoproblema namin eh..pera..:D

gusto ko sana maging well informed sa mga gastusin at benefits ng may sariling bahay dito.

kasi kung iisipin mo, if you rent here for the next 20 years you could have save maybe hundred of thousands vs paying mortgage. With these amount imagine what you can invest in Phils when you retire. sabi nga ni @TasBurrfoot its a personal choice but i wanted to get a clearer picture before we commit on something.

This outlook of course is towards myself spending retirement age in Phils.

To put in in perspective @Envy eto yung babayaran mo when you rent or buy:

Rent:
- monthly rental
- utilities

Own a House:
- monthly amortization
- home insurance (and possible content insurance)
- council dues
- utilities
- repairs and maintenance

@TasBurrfoot, lahat ba yun babayaran on a monthly basis? (I mean yung nkalist under sa Own a House?

- monthly amortization >> MONTHLY
- home insurance (and possible content insurance) >> MONTHLY
- council dues >> QUARTERLY
- utilities >> MONTHLY
- repairs and maintenance >> AS AND WHEN NEEDED

TasBurrfoot

tanong pa pala... since bagsak ang economy ng Australia ngayon, tama ba na ngayon maganda bumili ng property? or hindi, kasi nagtaasan lahat ng prices.
naguguluhan ako hehe sana makatulong kayo mga masters @TasBurrfoot and @JC_Santos....

pag bagsak ang economy, ano effect nito sa presyo ng mga houses for sale?

Prices right now are a bit inflated; why? scarcity of supply and the ultra low interest rates...

Normally if bagsak ang economy babagsak din ang bahay but it may not always follow that.

peach17

tanong pa pala... since bagsak ang economy ng Australia ngayon, tama ba na ngayon maganda bumili ng property? or hindi, kasi nagtaasan lahat ng prices.
naguguluhan ako hehe sana makatulong kayo mga masters @TasBurrfoot and @JC_Santos....

pag bagsak ang economy, ano effect nito sa presyo ng mga houses for sale?

Prices right now are a bit inflated; why? scarcity of supply and the ultra low interest rates...

Normally if bagsak ang economy babagsak din ang bahay but it may not always follow that.

ahhh since mataas ngayon ang prices ng bahay, hindi maganda ngayon bumili ng property? tama ba @TasBurrfoot?

peach17

@TasBurrfoot, @JCSantos,

question naman po mga bossing..

bukod sa initial cashout ; magkano ang difference ng monthly cashout nyo when you were renting vs when you bought your own houses (if you both dont mind sharing some numbers)

This is a hard question kasi depende naman ito sa choice mo eh... Pwede ka mag rent ng 4 bedroom house sa isang prestigious suburb in Melbourne - monthly rent mo nito is 750/wk...

Nakapag ipon ka ng konti and you were able to buy a 3x2 house 30km away from the city and monthly amort mo is 500/wk...

So ayun - the variables can go on and on...

For my case though, I am paying 700 more per month now in amort compared to my rent - di pa kasama dito ang insurance and council tax which would probably cost around another 300 per month all in all.

thank you. nakakabilib naman..

i get the idea. very well explained . thumbs up

magaling talaga mag explain si @TAsBurrfoot, isa sya sa mga masters dito sa forum hehe

peach17

@peach17

uu nag iisip palang... may isa lang talagang pinoproblema namin eh..pera..:D

gusto ko sana maging well informed sa mga gastusin at benefits ng may sariling bahay dito.

kasi kung iisipin mo, if you rent here for the next 20 years you could have save maybe hundred of thousands vs paying mortgage. With these amount imagine what you can invest in Phils when you retire. sabi nga ni @TasBurrfoot its a personal choice but i wanted to get a clearer picture before we commit on something.

This outlook of course is towards myself spending retirement age in Phils.

To put in in perspective @Envy eto yung babayaran mo when you rent or buy:

Rent:
- monthly rental
- utilities

Own a House:
- monthly amortization
- home insurance (and possible content insurance)
- council dues
- utilities
- repairs and maintenance

@TasBurrfoot, lahat ba yun babayaran on a monthly basis? (I mean yung nkalist under sa Own a House?

- monthly amortization >> MONTHLY
- home insurance (and possible content insurance) >> MONTHLY
- council dues >> QUARTERLY
- utilities >> MONTHLY
- repairs and maintenance >> AS AND WHEN NEEDED

thanks master

TasBurrfoot

tanong pa pala... since bagsak ang economy ng Australia ngayon, tama ba na ngayon maganda bumili ng property? or hindi, kasi nagtaasan lahat ng prices.
naguguluhan ako hehe sana makatulong kayo mga masters @TasBurrfoot and @JC_Santos....

pag bagsak ang economy, ano effect nito sa presyo ng mga houses for sale?

Prices right now are a bit inflated; why? scarcity of supply and the ultra low interest rates...

Normally if bagsak ang economy babagsak din ang bahay but it may not always follow that.

ahhh since mataas ngayon ang prices ng bahay, hindi maganda ngayon bumili ng property? tama ba @TasBurrfoot?

Hard to tell... It has been feared that the bubble will burst for the past few years, up until now tumataas pa rin ang presyo ng bahay.

Sa amin naman, bumili na kami as we found "the one" that was within budget.

peach17

tanong pa pala... since bagsak ang economy ng Australia ngayon, tama ba na ngayon maganda bumili ng property? or hindi, kasi nagtaasan lahat ng prices.
naguguluhan ako hehe sana makatulong kayo mga masters @TasBurrfoot and @JC_Santos....

pag bagsak ang economy, ano effect nito sa presyo ng mga houses for sale?

Prices right now are a bit inflated; why? scarcity of supply and the ultra low interest rates...

Normally if bagsak ang economy babagsak din ang bahay but it may not always follow that.

ahhh since mataas ngayon ang prices ng bahay, hindi maganda ngayon bumili ng property? tama ba @TasBurrfoot?

Hard to tell... It has been feared that the bubble will burst for the past few years, up until now tumataas pa rin ang presyo ng bahay.

Sa amin naman, bumili na kami as we found "the one" that was within budget.

nabasa ko na dito yun master, second time ko na mabasa yan hehe... ano ba ibig sabihin ng "bubble"?
ano meaning nung "bubble will burst"?
sorry d ko talaga maintindihan hehe
@TasBurrfoot

TasBurrfoot

tanong pa pala... since bagsak ang economy ng Australia ngayon, tama ba na ngayon maganda bumili ng property? or hindi, kasi nagtaasan lahat ng prices.
naguguluhan ako hehe sana makatulong kayo mga masters @TasBurrfoot and @JC_Santos....

pag bagsak ang economy, ano effect nito sa presyo ng mga houses for sale?

Prices right now are a bit inflated; why? scarcity of supply and the ultra low interest rates...

Normally if bagsak ang economy babagsak din ang bahay but it may not always follow that.

ahhh since mataas ngayon ang prices ng bahay, hindi maganda ngayon bumili ng property? tama ba @TasBurrfoot?

Hard to tell... It has been feared that the bubble will burst for the past few years, up until now tumataas pa rin ang presyo ng bahay.

Sa amin naman, bumili na kami as we found "the one" that was within budget.

nabasa ko na dito yun master, second time ko na mabasa yan hehe... ano ba ibig sabihin ng "bubble"?
ano meaning nung "bubble will burst"?
sorry d ko talaga maintindihan hehe
@TasBurrfoot

bubble is a term used primarily in finance for overly inflated commodities - housing bubble means high prices for houses... simple as that!

and if the bubble bursts - bagsak presyo!

peach17

hello mga masters!

may mga naka try na po ba dito bumili ng House and Land package?
mas okay po ba yun? or mas mapapamahal?
ano pong mga pros and cons?

thanks in advance

rylynn

@peach17 hi sis , house and land package are common sa SA at QLD.
house and land package normally cost 15% more on TCP (total contract price)
pros :
less waiting period esp if gawa na ang bahay
the house is brand new ( u can eliminate additional expenses on repairs)
maintenance is covered by builder for 6 months or so.
u can also apply for FHOG provided u r the 1st owner syempre

happy house hunting! cheers!

rylynn

@atchino yes FHOG can be included on the deposit. pero need to claim yan on after slab stage (nalagay slab) so papaluwal ka muna.. here in QLD we are given 15K for new homes.

But I have to pay the builder then reimburse after submitting docs to the bank.
we dont have consultant diretso na kami sa nab so wala din additional cost for consultation fee which usually add on your mortgage if meron.
For new home stage by stage ang payment..

peach17

Hi @LittleBoyBlue
igeneralize ko na ung mga pointers na mabibigay ko for new and established para mas open ang topic.

1) At least 5% deposit (may not always be the case).
- kung gusto maavoid ang Lenders Mortgage Insurance (LMI), prepare at least 20% deposit.
- kung gagamitin for deposit ang First Home Owners Grant - for new properties lang ito
2) Stamp Duty - may or may not be payable depending on the property price at kung new or established
http://stampduty.calculatorsaustralia.com.au/stamp-duty-nsw#.Ubkfffk3DL8
3) Conveyancing Fees
4) Building and Pest Reports - optional. kung new di na siguro kailngan nito
5) Strata Report (unit) - optional
6) Bank Loan Application Fees
7) Monthly Fees - waived for some loan accounts. basahin ang fine print
dito papasok ang offset accounts, redraw facilities, repayment options etc
8) Credit Protection Insurance - optional
9) singit ko na ung post expenses pagkabili bahay
- monthly mortgage
- council fees
- strata fees (unit)
- moving fees, appliances, electrical and plumbing works
- at maraming pang iba

total amount na kailngan ipunin ay naka depende sa total amount ng bahay plus mga fees involve on settlement kaya mahirap magbigay ng fixed or estimated figure ng kailngan ipunin. siguro safe bet is on top of the deposit amount kailngan pa ng at least 5 - 10% for the settlement, govt and bank fees pero di to sure case to case basis pa din talaga..

normally required (may not always be the case) na around 6 - 9 months employed sa current company mo as a permanent employee bago ka payagan magapply ng loan. make sure maganda ang credit rating history mo kung may credit card ka or recurring bills / other loans para siguradong maapprove ang loan

Thanks for this info sir.. Very helpful as we also planning to buy a house next year, hopefully.. [-O< .. I print this and put in my diary..

hi sis @nfronda, nakabili na kayo ng bahay?
thanks pala @jaero for the detailed guide

peach17

Sa mga nakabili na po ng bahay @TasBurrfoot, @JC_Santos, kasama po ba sa criteria nyo kung Torrens title or Community title ung bbilhin nyo na property?
Thanks po...

JCsantos

Sa mga nakabili na po ng bahay @TasBurrfoot, @JC_Santos, kasama po ba sa criteria nyo kung Torrens title or Community title ung bbilhin nyo na property?
Thanks po...

No idea about the Title , did not bother to check out the title when we bought ours

peach17

Sa mga nakabili na po ng bahay @TasBurrfoot, @JC_Santos, kasama po ba sa criteria nyo kung Torrens title or Community title ung bbilhin nyo na property?
Thanks po...

No idea about the Title , did not bother to check out the title when we bought ours

thanks @JC_Santos..
kami din wala naman kami idea na meron palang different kinds of title.. hehe
May Torrens, may Community at meron pang Strata...

sino kaya nakabili ng property na community title? anu kaya mga pros and cons...

JCsantos

guys wag pala kayo mag papadala sa mga pushy na salesman ... kung pilitin laging isagot we will think it over

peach17

guys wag pala kayo mag papadala sa mga pushy na salesman ... kung pilitin laging isagot we will think it over

salesman ng ano @JCSantos?

JCsantos

guys wag pala kayo mag papadala sa mga pushy na salesman ... kung pilitin laging isagot we will think it over

salesman ng ano @JCSantos?

Ng bahay or Unit po ....

TasBurrfoot

Sa mga nakabili na po ng bahay @TasBurrfoot, @JC_Santos, kasama po ba sa criteria nyo kung Torrens title or Community title ung bbilhin nyo na property?
Thanks po...

No idea about the Title , did not bother to check out the title when we bought ours

Same!

nell

Hi,

Tumitingin po kme ng bahay. Any idea po kung OK sa Marsden Park/ Schofields/ Riverstone & Box Hill?
Thank you.