Building a Custom Home VS Buying a House and Lot

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If you ask any Filipino what their biggest goal is or what they are wishing for, their answer would consist of: a car, a stable job, financial growth, and a house. On the other hand, ask any migrant Filipino worker the reason why they work so hard abroad and you have one answer: to buy a house and lot.

Undoubtedly, a house and lot for sale in the Philippines is high up the wishlist for every Overseas Filipino Worker (OFW). Most OFW home buyers spend time delicately planning their finances in order to afford a home of their own. OFWs would set aside a huge portion of their salary in order to finally buy a home.

They would also spend countless days talking to various real estate developers just so they could get a good overview of the Philippines real estate industry. Migrant Filipinos would even go the extra mile such as buying cheap meals abroad so that they could save more money. 

The homebuying process could be overwhelming, especially for first time homebuyers. That’s why it is essential to decide if you want to buy or build your dream home.

In this article, we have lined up the benefits of buying and building your home.

 

Benefits of Buying a House-and-Lot For Sale

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Before buying a home in the Philippines, it’s best to create a criteria of how your dream home should be like. Ask yourself these questions:

  • How many bedrooms do I need in a home?
  • Do I want a 3-bedroom house unit located in a corner lot?
  • Or do I just need a simple, small 1-bedroom rowhouse?
  • How much am I willing to spend for the monthly downpayment? Monthly amortization?
  • How long do I have to wait for the house to finish with the construction?
  • Do I prefer a pre-selling home or a ready for occupancy (RFO) home?
  • Lastly, the most important question, where do you want to live? In the metro? Beyond the city?

Also related: OFWs’ Investment Guide to Buying a Property While Abroad

When you opt to buy a house and lot in the Philippines, make sure that you also consider if you want a ready for occupancy home or a pre-selling home. Your choice between the two will determine how much money you should save and how long you have to wait for the house to finish the construction. 

But whether you settle for an RFO home or a pre-selling house and lot, there are three benefits that come with purchasing a home.

 

Practical Choice


Most OFWs and local Filipino citizens often prefer to buy a house and lot for sale in the Philippines. For obvious reasons, buying a house and lot package is an easier and conventional option for most people.

Compared to buying a residential lot for sale, having a house constructed from the ground up takes a lot of paperwork. You are also saving a lot of time, money, and effort in finding the right professionals responsible for your home construction. Think about it, you would not have to worry about securing various permits, paying more money for the house construction, and hiring workers, contractors, and designers.

 

Cheaper Price


Buying a house and lot package is cheaper compared to buying a residential lot for sale and building a home. Especially if the home is still at a pre-selling stage when prices are affordable and financial options are flexible. 

OFWs usually settle for a house and lot package because it’s basically buying two things with one payment. You would not have to worry about the cost of construction materials and skilled laborers since the developer is responsible for procuring the needed materials.

 

Convenience


Needless to say, a house and lot unit for sale brings convenience to families who do not have the time and resources for house construction. Purchasing a ready home is also a more convenient option for families who wish to move in as soon as possible since there are RFO house units available.
Interested in buying a house and lot for sale in the Philippines? 


For house and lots in the Philippines, there are developers such as Bria Homes, Lumina Homes, and Lessandra that offer affordable packages in multiple regions and Camella Homes that offer homes with more space. 

 

Bria Homes

Bria Homes is a socialized housing developer in the Philippines with projects located in cities and municipalities. Bria has a one-bedroom rowhouse, one-bedroom bungalow, two-bedroom townhouse, and the newly released three-bedroom bungalow house unit. You can opt to buy a Bria house unit under the Pag-IBIG financing option in select Bria communities. 

For their available homes for sale, click here.

 

Lumina Homes

Lumina Homes is a real estate developer in the Philippines that offers affordable homes. Although a bit pricey compared to Bria Homes, Lumina offers townhouses and single firewall homes. There are also row houses available in select Lumina communities nationwide.

Check out Lumina’s available house units here.

 

Lessandra

Lessandra communities are known to be “maaliwalas”. Offering townhouses and single firewall homes, Lessandra aims to provide affordable yet high-quality homes. Lessandra’s townhouses are available under Pag-IBIG financing in select Lessandra subdivisions. 

To find more Lessandra properties for sale, click here.

 

Camella Homes

Needing no introduction, Camella is well-known to provide quality homes in the Philippines. Camella Homes communities are located nationwide with master-planned communities in certain highly-urbanized cities. Camella has eight house models to choose from, available under bank financing.

Check out Camella’s spacious homes for sale here

Also related: Which Vistaland Home is The Best for OFWs?

 

Benefits of Buying a Residential Lot and Building Your Custom Home

Affordable house and lot property investment and real estate investment for ofw in the Philippine, house and lot philippines

Purchasing a residential lot isn’t a first choice in buying a home for most Filipinos. What’s customary, however, is to buy a house and lot package in a secure neighborhood within the city.  

It can be quite a challenge to find a perfect home in the market. If that’s the case, there is always the option to buy residential land and build a custom home that fits your preference. While it is practical to buy a house and lot package, there are also several benefits of buying a lot and building your custom home. 

As a tangible and long-term real estate asset, land doesn’t depreciate and nothing could be stolen from it. It’s a relatively hands-off type of real estate investment.

 

Greater Customization


Building your house from the ground up allows maximum control of how you want your house to look like. It offers flexibility. Many OFWs have a lot of interior ideas and themes in mind, but sometimes it won't align with an ordinary developer’s house and lot package. 

Maybe you want a bigger space for your kitchen or you want enough space for your cars. Or maybe you want to go all out and build a four-storey house unit with an underground basement with a 360 degree balcony. Whatever the reason may be that a pre-designed home unit can’t satisfy you, building your custom home could be the best option for you.

 

Real Estate Investment


People usually opt to invest in a plot of land when they want to secure a property investment. Since it is a piece of land, nothing could be broken and or stolen from it. 

Your land’s condition will remain the same after a few years. So it’s very easy to maintain making it fitting for OFW investors who spend most of their days away from the Philippines. As long as you do your due diligence in checking up on your property, you wouldn’t have any problems.

 

Flexible House Construction Schedule


You’re basically the boss once the land title has been transferred to your name. So you  have full control on how you want the house construction process to go about. Since OFWs spend most of their days abroad, they don’t have to worry about when to start their house construction.

 

Factors to Consider Before Investing In a Land Property


Before diving head first into land investments, there are a few things you should know about. 

 

Location

The most important factor to take into consideration is location. Choosing the right location for your dream home should be the first thing you should think about. If you wish to stay within the city, there are communities that offer lot only properties at the side-skirts of the city. And if you choose to settle down beyond the metro, there are also several master-planned communities that offer quality homes.

Location also plays a great factor in determining the value appreciation rate of your investment. If it’s close to the city, then there’s a higher rate of appreciation because your land is near business establishments and has a lot of foot traffic. On the other hand, land value appreciation of those properties outside of the city isn’t as high as those within the city.

 

Due Diligence

Investing in land comes with a great responsibility. Just because it is a relatively low-maintenance investment doesn’t mean you can disregard your property. Remember that since you are the boss of your own house construction schedule, you also shoulder the responsibility of obtaining permits, documents, and utility applications for your Wi-Fi connection, water, and electricity. 

 

Developer Rules

Real estate developers often have themed communities where you have to implement their desired theme to your home. They also require you to see your floor plan and house layout to see if it fits their standard. 

It is also very important to note about the property setbacks. Setbacks are rules that determine how far your home must be set from the road or from the neighboring lot units. You also need to think about how big your home will be in comparison to your lot size so that it won’t be a problem to your neighbor in the future.

Also related: Advantages of Buying Residential Lot and Building a Home From Scratch

 

The Bottom Line 


As for most OFWs, buying a house and lot would be the most practical way in acquiring a home but some also prefer to do a custom house and lot building and designing. Do your thorough research and create a financial plan to finally secure a home for your family. At the end of the day, it’s all in the matter of what you prioritize the most.

If you prioritize convenience, buying a house and lot package is the best choice because you wouldn’t have to stress about hiring a contractor, securing building permits, and buying construction materials. 

However, if you are willing to wait and want to be creative, then building a custom home rightly fits your standards. Building a custom home takes a lot of time and physical effort. Remember that you have to be patient and trust the process.

Team up with a professional real estate salesperson that will help you find the right home that you want and fits your budget.


Ready to buy a land property? Talk to Vistaland International!


For over a decade, Vistaland International Marketing Inc. (VIMI) has provided homes, condos, and investment opportunities to OFWs and migrant Filipinos. With the primary goal to help a simple OFW’s dream, Vistaland International has international offices where you can talk about what kind of home you are looking for. Trust that our real estate broker will find you a property that is suited for you.

So to OFW home buyers looking for a house and lot for sale in the Philippines, Vistaland International Marketing, Inc. (VIMI) has a wide roster of property investments for you. Send us a message today to know which home best suits your needs.

Are you an OFW or a migrant Filipino looking for ways to expand your income? Kick start your career with us. Join Vistaland International by filling out the form here.


Vistaland International Marketing, Inc. (VIMI) is the international marketing division of Vista Land. Aiming to provide OFWs and migrant Filipinos a home in the Philippines, VIMI has established long-lasting relationships with brokers and clients around the world.


Get started with your property investments! Contact us today and follow our social media accounts: Facebook, YouTube, Twitter, Instagram, and LinkedIn.
 

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