Taking that step into the home you’ve always wanted

MANILA, Philippines – Owning a home can be empowering. To have a special space for yourself or your family is something to be proud of.

At first, the thought of getting your own space may seem daunting, but once you realize that you are capable of overcoming challenges and taking on new responsibilities like a pro, you will be able to appreciate your own effort, patience, and hard work.

However, it takes more than just the ambition to own a home. The reality is you also have to be financially prepared, as well as ready to adjust to a lifestyle wherein you only have yourself to rely on.

A home for my family

Jake de Guzman is a father of two girls, a businessman, a teacher, and a triathlete.

Even if has to juggle so many things every day, he never forgets what matters most – his family. 

“Having a home of your own is one of the fundamental basics. I can’t imagine building a business and raising kids without your own place to go home to,” he says.

Five years ago, he and his wife, Kris, decided that they needed to move to a new home. Their family was growing, and the architecture of their old townhouse was already outdated.

“There’s something refreshing about going home to a house that’s in the current style,” Jake shares.

But it was more than just space and aesthetic issues that convinced them to move houses. “There’s some security and stability that comes with having your own home — the place to sleep in and eat, and keep the things you need in your life,” he says. “Moving in felt like we were moving forward in our life as a family. We were setting roots in a new city and building the life and lifestyle we wanted.”

Post from RICOH THETA. – Spherical Image – RICOH THETA

 

Navigate through Jake’s space by dragging your cursor on the 360 image

Today, Jake and his family are slowly and happily settling in their new 3-storey townhouse, which has ample space to entertain their guests. It’s also conveniently located where they have to be everyday. He says: “We feel more at ease. We have more space to move. We’re near the school and the workplace so we’re a little more relaxed everyday.”

Of course, even as they’re happy with their decision to move in, the family also had to make serious choices in terms of how they were to finance their family home.

“We didn’t have enough for full payment, so we took out a loan to finance the majority of the purchase,” he says.

In Jake’s perspective, owning a home that makes their life happier outweighs everything else. “A home is forever. Paying amortization will end way before that. You get used to regular payments after awhile,” he shares.

In the future, he would like to have his own garden where he can grow his own vegetables and herbs, on top of reducing trash in their household so his family can live a more green and sustainable lifestyle. “Getting solar panels too for more sustainable energy source is in the bucket list, too,” he says.

Independence is worth it

Joanne Kong (who goes by JK) lives a busy life. By day, she’s a real estate broker helping people find the perfect home. By night, she is an indoor cycling instructor. She works long shifts and gets physically and mentally drained on some days, but at the end of it all she comes home to her very own 1-bedroom condominium at Bonifacio Global City.

“My home is composed of neutrals and pastel colors – light and calming to the eyes and also the colors I tend to be drawn to as well. I wanted my home to be the place I would get to relax in,” she says. “It’s your own personal space. At the end of the day it’s my go to for peace and quiet.”

JK used to live with her family in Quezon City. The commute from her family home to her workplace was only costing her more time and effort as she drove through the unbearable city traffic. 

When she finally purchased her own home in 2013, she considered not only its more convenient location, but also its resale or rental value.

Post from RICOH THETA. – Spherical Image – RICOH THETA

 

Navigate through JK’s space by dragging your cursor on the 360 image

Of course, her choice to live independently came with a price. She had to adjust her lifestyle in a way that would help her achieve her goals. She admits that sometimes, she does miss home and being with her family. 

But living on her own did teach her to make important choices and to take on brand new responsibilities head on.

“It’s important to have the freedom to choose where you want to be – whether that would be in the city or the suburbs, what components would you like in your home. I never knew decorating was serious business! Measuring the right type of furniture – how it fits, how comfy it feels and how long it will last. As well as getting to know brands that have quality and are fit for the budget,” she says.

Being homesick and managing her space were not the only challenges JK had to overcome. Since she works in sales, her income is not as regular as most employees, so she also had to learn to keep her finances in check and spend within her means.

Her advice for those who are looking to live on their own goes beyond just being able to pay for your own bills (on time) while balancing everything else. She shares: “Find something you would want to live in for a long time, and also something you know would be a great potential home to someone else once you do rent it out or sell it in the future.”

If you’re already planning to start a family or looking forward to living independently, it’s always important to determine if you’re truly ready for that next big step. Are you ready to face whatever challenges it may bring? Are you open to options and making serious decisions that will help you own the home you’ve always wanted? Are you financially capable at the present, and can you commit your future wealth towards funding your own space? 

If you can answer “yes” to all of the above, just like Jake and JK, you can go ahead and grab the opportunity to own your home. In the end, it will be worth it. – Rappler.com 

To make home ownership more attainable, BDO Home Loan offers low rates and flexible terms. Plus, you can avail of an All-In Financing option that covers loan-related expenses such as mortgage fees, transfer costs, insurance premiums, etc., making the process of purchasing a home more easy and hassle-free. With BDO Home Loan, you can finally own the home you aspire for! To know more, click here.