For those interested on having a condo here in metro manila **Please read this.**Finally I am fully awake when it comes to bank financing.Too long to read*
May tinransact akong condo and buti na lang 250k pa lang yung binabayaran ko.When in applying to for a loan na nagulat ako sa mga babayaran ko
ang ending if i will be renting i will only pay 1.8m sa 10 years ng stay sa 15k monthly (pero no hassle kasi wala ka ibang iniisip + you can lower it down kasi masyado na mataas yung 15k a month kung rent lang naman)
vs having a condo na aabot ng 3.2m yung total gastos for a decade. breakdown in belowtotal na babayaran ko downpayment (1m)
- loan total (10 years estimate of 8% interest rate) (1.5m via bdo 1.1m prinicipal amount loan)
- document process one time payment (200k makati area)
- association dues x 10 years (2200 per month x 12 months x 10 years) = 264,000
- amilyar x 10 years = (300000)
Total in condo expenses in 10 years = 3.2m
rent in 10 years 15k x 12 x 10 years = 1.8m
Please correct me if im wrong so that everyone will have a knowledge baka nag eexagerate lang ako.kasi im still confuse if igogo ko to or better to let go na lang yung 250k before i face a more disastroous situatioon
May tinransact akong condo and buti na lang 250k pa lang yung binabayaran ko.When in applying to for a loan na nagulat ako sa mga babayaran ko
- Monthly Amortization with interest
- Insurance Fire and MIR 30k annually.
- Bank Charges
- Amilyar in which you will pay the government annually.
- Association Dues ng Condo
- Document Process of transfering to your name.
ang ending if i will be renting i will only pay 1.8m sa 10 years ng stay sa 15k monthly (pero no hassle kasi wala ka ibang iniisip + you can lower it down kasi masyado na mataas yung 15k a month kung rent lang naman)
vs having a condo na aabot ng 3.2m yung total gastos for a decade. breakdown in belowtotal na babayaran ko downpayment (1m)
- loan total (10 years estimate of 8% interest rate) (1.5m via bdo 1.1m prinicipal amount loan)
- document process one time payment (200k makati area)
- association dues x 10 years (2200 per month x 12 months x 10 years) = 264,000
- amilyar x 10 years = (300000)
Total in condo expenses in 10 years = 3.2m
rent in 10 years 15k x 12 x 10 years = 1.8m
Please correct me if im wrong so that everyone will have a knowledge baka nag eexagerate lang ako.kasi im still confuse if igogo ko to or better to let go na lang yung 250k before i face a more disastroous situatioon