TO BUY HOUSE AND LOT FIRST OR PUT UP A BUSINESS BEFORE BUYING HOUSE?

[avitot]

Hi Gtalkers!

I need your inputs pls!

Assuming you  have 300-500k in your bank ready and you are also earning monthly from your salary  at wala ka pang own house at the same time gusto mo rin magbusiness. Mas better ba na idown muna ito to get your own house or i-invest muna into something na pagkakakitaan? want to know ano ba ang dapat mauna. Dapat ba you already have properties of your own before magrisk into business or business muna bago bumili/magloan  ng bahay?

Thanks!

[lonely_dad]

kung ako sa business muna kasi once ginamit mo yung pera pang downpayment wala ka na pang huhugutan if kelangan mo ng pera
kung sa business mo naman gagamitin kahit papaano umiikot yung pera, from there mas madali ka makakapag hulog once kumikita na yung negosyo

[etxetera]

Business muna pag okay na income saka house

[jmeangeL]

i guess business first... buying the house and paying for it would really take up most of your income at nakakapagod sya
the 300k-500k is not enough to make a house a home.  remember that most house & lot needs finishing, furniture and appliances before it would be habitable.
i spent over 700k just to finish & furnish our house.

now I'm trying to buy properties that would earn me something, or would pay on its own... i'm into rental properties

[lonely_dad]

i guess business first... buying the house and paying for it would really take up most of your income at nakakapagod sya
the 300k-500k is not enough to make a house a home.  remember that most house & lot needs finishing, furniture and appliances before it would be habitable.
i spent over 700k just to finish & furnish our house.

now I'm trying to buy properties that would earn me something, or would pay on its own... i'm into rental properties

agree ako dito 100%
sa pag furnish pa lang kulang na yung 300-500k mo

[bea31]

May i also ask, saan kayo magsstay kung wala pang house and lot kung business ang unahin? Lets say, kakakasal pa lang. Stay in parents, mother in law, rent a house? Thanks for your inputs.

[yellowminion]

Yung savings ko for 2017 was supposedly for equity payment of a low-cost housing. But months ago, I'm also contemplating na wag na lang muna, mag-start na lang kaya muna ako ng small time na business and parang I'm leaning more on that decision.

I'm still single and living alone on my mom's home kasi my sisters are already married and living in their own houses and my Mom is based overseas. Tapos naisip ko din na if ever I get married, saka lang ako kukuha ng bahay and hati kami ng husband ko sa equity payment tapos consolidated sa Pag-Ibig loan namin dalawa yung amortization

[barbillie]

Things to consider:

IF HOUSE:
- Do you need your own house? Or okay lang makitira, or renting out?
- If yes, assess if how badly you need a house? Will you buy an RFO or Pre-Selling? In RFO, lipat-agad. In Pre-selling, you need to plan out your finances and living arrangements habang hindi pa natuturn-over yung bahay.
- Can you sustain the monthly payment given your salary and other earnings?
- If you're renting, magsinglaki ba yung binabayad mo sa renta at yung ibabayad mo sa monthly hulog ng bahay? Kasi kung yes ang sagot mo dito, kumuha ka na lang na ng bahay. At least yung binabayad mo, napupunta sa sarili mong house.
- Can you live with the bare minimum of the house? In short, okay lang ba sayo na hindi fully furnished ang bahay, as long as livable? Kasi dito nakadepende yung magagastos mong on top expenses.

IF BUSINESS:
- You need to have ROI projections, para alam mo yung ikot ng pera mo and you can plan out future expenses, well, like house, Baka naman sa business na papasukin mo, ang return of investment is 10 years. Wala ka na ngang kita ng 10 years, wala ka pang bahay.

Ako personally, uunahin ko yung bahay. Kasi yun ang kelangan namin. And hindi kami yung tipo ng tao na basta-basta pumapasok sa business, kasi medyo hindi pa kami ready sa mga losses.

[izabelle]

Depende. Is your salary more than enough para masustain ang pagbabayad ng monthly amortization ng house? Kasi if it is more than enough, I think mas ok unahin ang bahay.

Depende din kasi anong business ang plano mo? gaano katagal ang ROI? Kasi kung aabutin ng sobrang tagal (without any assurance na magiging successful), baka mas lalo kang mahirapan makabili ng bahay, tumataas ang presyo ng bahay every year.

House is an investment for me, life time yan sayo and maipapamana mo pa yan sa future kids and even grand kids mo. Kapag bumili ka sure yan sayo 100%, ang business pwedeng malugi, pwede din mag hit.

Case to case basis kasi to. Hindi ako sure gano kabongga ang business na itatayo mo

Also, depende kung single ka or may family na. Kapag single mas madali sumugal sa business.

[jmeangeL]

^---na burn ako sa business. let's face it, mahirap talaga magbusiness kung sakto lang puhunan mo.  Sa dami ng retail at service business ngayon, unless manufacturing ang business mo or construction siguro, parang mag-aaksaya lang ng pera.

That 300k for business is not enough kung wala ka emergency fund aside from that 300k.

[Maydhel]

Based on my own experience lang po to:
Since 2010, I was already planning to buy house and lot and that time I had money na for downpayment and my job that time can sustain the amortization, but I was doubtful kaya di ako kumuha. Year 2013, biglang nag mahal ang house and lot and I had my regrets. So, bago ma ulit uli ang regrets ko, me and my husband got our house and lot that same year. Now, if you will check mas lalong nagmahal nag house and lot and it will keep on rising in the near future. This year, we have now a little savings and planning now to start small business, though not yet sure kung ano kasi ang hirap nga nman mag start ng business so need talaga pag-isipan muna, but we have small side line, pautang with interest and it helps para umikot pera nmin.
CONCLUSION: Better buy house and lot now while your job can still sustain the amortization, half of your salary save it until medyo lumaki and enough to start a small business you want. Sa business kasi sugal yung ROI, if di mo makukuha ang ROI in less than a year mahihirapan ka talaga nyan kumuha pa ng house and lot.

[msals2007]

House and lot first, unless sure na malaki ang ROI ng planned business mo.  If single ka pa lang, pwede na ding business ang investment mo sa house and lot. You can have it rented or sell it at a higher price depende sa development sa area. Bilis kasi tumaas ang cost ng property (depends on the area of course). 8 years ago kung di kami naglakas loob ng hubby ko to purchase a property malamang nakikitira pa din kami sa inlaws ko and di na nakabili on the same area kasi more than double yung price ng lot, sobrang mahal na.

[lonely_dad]

yung 300-500k pang down mo ba kung sakali? if ever kasi matagal tagal na bayaran yan unless nasa malayo yung bibilhin mong house and lot kaya mura siya lalabas
remember, yung house mo is bare wala pang gamit and appliances yan

[erikacruz]

I go for buying a house or condo first. I'm working, doing business is not a priority for me. But, I'm planning to make a sideline. Since, sobrang baba lang nung downpayment for a condo unit. And sobrang accessible lang siya for me.

[izabelle]

^^^ That is true. Mabilis tumaas ang value ng property depende sa location din syempre.

Yung friend ko dapat bibili ng property sa Pasig nung 2009, pero nagdalawang isip, nakapag decide nalang nung 2011, pero hindi kinaya yung tinaas ng presyo. So sa bandang Muntinlupa na sila nakabili.

Lahat ng tao need ng bahay. Necessity sya for me. Nasa basic need ang shelter.

[reginapfigueroa]

Hi Sis!

Having a business is a great option for your passive income, and actually having a house is a good investment as well sis. But there are other options as well, you can also consider the option of growing your money thru investment, and in a span of around 10 years your 300-500k would  have grown at a compounding interest, at that time, you have more to spend for your house or be more ready in all aspects when it comes to putting up a business.

[yellowminion]

^^Napaisip tuloy ako. It makes sense. Looking back years ago when I was still working in Manila and nagre-rent ako dun, grabeng stress ako sa mga naging landlady ko. Kaya I promised myself na I will save for an equity of a low cost housing, Hindi naman need na malaki. Kahit yung raw house lang na ino-offer inside a subdivision.

I think I changed my mind na about putting it in a business. Magse-save na lang ulit siguro ako and if ever may magustuhan akong pasukin na small time business talga.

[be_Jenuine]

i think mas practical kung bahay, yung business kase may risk pa na baka malugi or what. Kapag bahay, iyong-iyo na then lifetime investment talaga siya.

[shinies]

Depende kasi yan sa anong short-term at long-term goals at kung ano ang sitwasyon niyo sa buhay (pamilya, source of income, etc.)

Inuna namin mga bahay tapos sunod emergency fund. Pag tapos ni emergency fund, saka business.

May i also ask, saan kayo magsstay kung wala pang house and lot kung business ang unahin? Lets say, kakakasal pa lang. Stay in parents, mother in law, rent a house? Thanks for your inputs.

Rent a house
Dapat nakabukod kayo kung kinasal na.

[shinies]

"What is an 'Emergency Fund'
An emergency fund is an account used to set aside funds needed in the event of a personal financial dilemma, such as the loss of a job, a debilitating illness or a major expense. The purpose of the fund is to improve financial security by creating a safety net of funds that can be used to meet emergency expenses as well as reduce the need to draw from high interest debt options, such as [credit cards} or unsecured loans.

Read more: Emergency Fund http://www.investopedia.com/terms/e/emergency_fund.asp#ixzz4j7laHoMk


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