Everybody wants to have their own house. A home they could call their own, where they could live happily together with their families.
I have prepared and save enough money to apply for a housing loan through pag-ibig. Even if it is a loan, you still need to prepare some cash to pay for the reservation fee, processing fee and equity to the developer.
Last May 2010, I paid P 15,000 to reserve a house and lot in a certain subdivision in Catalunan Pequeno. After this, I need to pay P 20,000 on a 2-month installment basis for the processing fee and an additional P16,000 for the equity (which is deductible to the selling price).
Last November 2010, I already paid all of these and the developer promised me that after these payments the house will be constructed. I have submitted all the necessary requirements for the pag-ibig loan. In fact, my application is pre-approved already, but it cannot be awarded because the house and lot is not yet finished.
Last December 2010, we visited the area and made some ritual for the groundbreaking. The foreman told me that the house will be finished by March 2011. But until now, October 2011, the house is not yet finished.
A broken promise should not be shattered in pieces and be throned in the wind. May this entry open your eyes and will make you more keen and investigative in choosing your dream house. I suggest that you should check the background of your developer, if they have done good projects to satisfied customers. If you can hear good reviews and have seen their final products, that's when you should decide whether to purchase that or not.
I have learned my lesson well. The problem is... I cannot refund the P15,000 reservation fee, which is a very large sum of money. So, I have no choice but to wait for my dream house to be built. I hope it will be finished this year.. I hope so....