Buying a house? Figure out your Home Loan payments

I have worked for more than 15 years, and I’m at a point in my life where I can confidently invest in the real estate market. While that seems to be a bit late now, I think real estate is still a good asset. I’ve had the chance to invest in a couple of projects in the past but I missed out on it and I’ve seen it grew into something that has become a passive income for some and a good investment.

COVID-19 had a major impact on Philippine real estate as well as other countries. Developments stopped and others had to sell their investments because of the pandemic brought. But things are starting to look up and people are now slowly getting back to work. A lot of businesses closed but a lot of businesses also opened up.

I’ve recently read an article about the Philippines having policy reforms on local real estate. (here) It said that the government will continue to strengthen the development of the housing and real estate sectors in the country. The reform they said will boost investor confidence in the property sector. The article also quoted Diokno that real property tax will offer a progressive source of revenue for LGUs. Real Estate services have also been picking up anew, harnessing the private sector’s potential through the public-private partnership to implement impactful projects with the Country’s development goals.

I’ve been very picky in choosing the right space for us. We’re a family of 4 and I want more space for my kids to roam around. Currently, the family and I are positioning ourselves in purchasing our first property. One thing that I came across is the mortgage calculator which helped me compute my monthly payments. https://www.mortgagecalculator.uk/, while the site is originally catered to the UK market, the monthly payments math works the same about everywhere other than the current units and the property prices. 

This way you can figure out your loan and easily calculate your payments with this online calculator. I think that this is very useful because what makes the site unique are the graphs of loan repayment along with the monthly and yearly amortization tables. There are also other additional calculators like printable amortizations, loan overpayment, and remortgages.

From what I’ve learned in the past, assets are still good investments, and it’s important that we have visibility on the monthly spending and costs. Now that the market is slowly getting back, it might be a good idea for you to check the real estate market for investment opportunities.