Category Archives: Real Estate

Harmonis Residences – Affordable House and Lot for 7K Plus/Month

Harmonis Residences Lagtang Talisay Cebu
Harmonis Residences Lagtang Talisay Cebu
Photo Credit: Harmonis Residences Facebook

Are you planning to buy a house and lot to be your future home, or perhaps as a property investment? Harmonis Residences is Citrineland Corporation’s very first residential subdivision project located at Lagtang, Talisay City, Cebu.  For at least Php7K  plus (the lowest monthly amortization either bank financing or PAG-IBIG) a month, you can now have the dream home you want.

Top 5 Reasons Why Harmonis Residences is Ideal For You

Aside from the fact that Harmonis’ target is the middle class market (thus the much affordable rates), this subdivision is also the very first residential project of Citrineland Corporation (known for their condominiums) and this means (according to one of their engineers) that all units are built with high quality materials.  Also, the concept and theme are well thought because Harmonis Residences will be used as a model for their future residential subdivision projects.  Below are the top reasons why you should check this new residential properties out.

1. Affordable Monthly Amortization Rates

For as low as Php7k plus amortization rate per month, you can now live in your very own house.  This estimated rate applies to their Myda (the middle units) house model.  See the rest of the sample monthly amortization rates computation below for the rest of the model houses. (Note: These are just estimates and may change without prior notice).

Harmonis Residences Talisay Cebu Monthly Amortization Rates2. Reasonable Equity Installment Payment Scheme

You can separately pay the equity for up to 24 months (this changes depending on the house type).  This is more convenient than paying for it along with the amortization in monthly basis.  After 24 months, you are free to transfer to your newly bought home.

3. Fully-Fitted Units Ready for Occupancy

Harmonis Residences Ground Floor Actual Model UnitActual photos of the interior of house unit model

Connections for water and electricity are already fitted and the only thing you need to is to install the services to start using them.  Lighting sockets, bathroom, kitchen counter and cabinets are also already installed and ready for use once you transfer.  The whole unit is ready for occupancy and all you need are your furniture.

4. Centrally Located

Harmonis Residences Lagtang Talisay Map

Photo Credit: Harmonis Residences Facebook

I went to the site on the 7th of November and it is indeed located near the main highway.  You can just walk from the highway to the subdivision area.  The subdivision is 5 minutes away from the following landmarks:

  •  St. Joseph Church,
  • Robinson’s Supermarket,
  • Wilcon Depot,
  • St. Scholastica Academy,
  • Gaisano Fiesta Mall,
  • Tabunoc Public Market,
  • Don Bosco Retreat House,
  • Talisay City Hall,
  • and Church of Jesus Christ of Latterday Saints.

Another major thing that makes the location of this subdivision more exciting is the near completion of SM Seaside City construction in the South Road Properties (SRP).  You don’t need to go to SM Cebu anymore because a better and bigger SM City is currently being built near the area.  Also, you can just easily visit Cebu’s newest residential resort once all the construction are done at SRP.

5. Ideal for Family

Harmonis Residences Lagtang Talisay Cebu - Gazebo

Photo Credit: Harmonis Residences Facebook

Harmonis Residences Lagtang Talisay Cebu - Playground

Photo Credit: Harmonis Residences Facebook

Harmonis Residences was conceptualized with family living in mind.  The whole subdivision has 63 exclusively well-arranged residences with an Urban Asian design concept.  Amenities include  zen-inspired tri-level water podium, children’s playground, garden gazebo, and the Trellis.

House Model Units When Fully Furnished

I’ve got these photos from their Facebook page.  These are for illustration purposes only and are subject to change without prior notice.  Myda and Enya are 2-bedroom-1-bathroom-1-carport units while Yssa is 3-bedroom-2-bathrooms-1-carport unit. All units are 2-storey houses.

Mid Units aka Myda (Ground Floor)

Lot Area: 40-49 sq.m. | Floor Area: 47 sq.m.

Price: Php1,900,000.00

Myda - Harmonis Residences Talisay

End Units aka Enya (Ground Floor)

Lot Area: 56-85 sq.m. | Floor Area: 47 sq.m.

Price: Php2,000,000.00

Enya - Harmonis Residences Talisay

 

Single Attached Units aka Yssa (Ground Floor)

Lot area: 70-90 sq.m. | Floor area: 61 sq.m.

Price: Php3,000,000.00

Yssa - Harmonis Residences Talisay

Status

As of 13th of November, Harmonis Residences is still under construction.  Below is their updated site plan highlighting the units which are already sold with X marks.

Harmonis Residences Lagtang Talisay Cebu Sold Units as of November 13 2014

Lastly, below is a scanned 3D model of the whole subdivision, South-West perspective.

Harmonis Residences - Talisay, Cebu 3D

CONTACT

If you are interested to buy or to  know more about Harmonis Residences, kindly contact Kristine Gonzales, CPA  or Engr. Ronmar Gonzales through the following channels.

Kristine Gonzales, CPA

Mobile: 0922-771-0889

Email: kristinejimenez@gmail.com

Skype: kejgonzales

Engr. Ronmar Gonzales

Mobile: 0932-863-8160

Email: gonzalesronmar@yahoo.com

 

Last, last, last…don’t forget to tell them where you heard about Harmonis. (;

BONUS

Below are actual photos of the house models when I went there last 7th of November.  The 2nd group are photos taken by my cousin on the 8th.

 

Sources and References:
https://www.facebook.com/pages/CitrineLand-Corporation
http://www.flaminiaphilhomes.com/property-detail/767-harmonis-residences
http://cebuhomeph.weebly.com/harmonis-residences/harmonis-residences-in-tabunok-talisay-city-cebu
http://www.citrineland.com
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Home Buying Tips: Bank versus In-House Financing

Home Buying Tips Bank or In House Financing 2

There are definitely many things to consider when buying a house, but this does not stop anyone from dreaming of their very own home. One of the biggest challenges that people face when it comes to house ownership is actually having the cash to purchase one upfront. Applying for a housing loan provides a viable option, and these can be provided by the government’s Social Security System (SSS), the Pag-IBIG Fund, or commercial banks. In recent years, another option has surfaced wherein real estate developers have also begun to offer in-house financial services.

Property experts from Lamudi have created a comparative overview between bank loans and in-house financing to better help you weigh your options. Before you decide to make a financial commitment for your ideal house, you should carefully evaluate what your financial options are and how they compare to one another.

BANK FINANCING

Pro: Lower Interest

Con: Stringent Financing

Home Buying Tips Bank or In House Financing 2

Image Source: Homes and Dreams/Flickr

There are two things to take note of before applying for a housing loan from a bank: You must pay a reservation fee and a down payment, which is usually around ten to thirty percent of the total property price. Don’t worry though. You can pay this on an installment basis if paying via a single transaction is too heavy on your pocket.

After both payments are made, you can now apply for a housing loan. The bank will be the one to pay the remaining balance on the property, but as a borrower, you are obliged to pay the bank monthly amortizations plus interest. The bank will also hold on to the property title for the duration of the loan, which serves as the collateral. This goes on for usually five to twenty years, depending on your terms and agreements with the bank.

Note: The Pag-IBIG Fund charges higher interest rates, but they offer mortgages for up to 30 years. This means that you have more time to repay your housing loan.

Example: BPI Housing Loan

IN-HOUSE FINANCING

Pro: Simpler Application

Con: Steeper Interest

Home Buying Tips Bank or In House Financing

Image Source: Homes and Dreams/Flickr

Real estate developers now offer in-house financing to those who do not want to resort to third-party institutions when it comes to paying for your property. These are technically not loans, but more like extended payment terms. You pay for your property on an installment basis, but with above interest rates, averaging around fourteen to eighteen percent per annum. Longer terms may even reach up to 22 percent, but they usually do not exceed five years. You would have to pay your balance—usually 80 percent of the total property value, plus interest—in a shorter period of time.

In-house financing however, have less rigid requirements and paperwork than banks. Most developers require nothing more than the down payment and a verifiable proof of income, as compared to financial institutions who require valid government IDs, marriage contract (if applicable), income tax return (ITR) for employees, certificate of employment, pay slips or proof of remittance for three months (for overseas Filipino workers), lot plan, and vicinity map.

Note: In-house financing may be available only for pre-selling projects. Many developers do not offer financing for properties that are ready-for-occupancy.

Example: Avida Land Home Financing

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Frugal Real Estate Tip: Budget Your Way to Owning Your First House

There is no quick means of making a decision to buy your first house. It is easy to fall in love with the house of your dreams that fits your personality and needs, but there is some work that needs to be done in order to make that dream into a reality. Buying real estate is not only a big decision; it is a life-changing decision that needs planning.

When you begin planning for your new home, it means establishing a budget and knowing where you stand financially. Creating a budget and understanding your finances will make it a lot easier for you to begin the process of taking that leap into buying real estate.

Track Your Debits

The first step to establishing your budget is gathering all your monthly bills. This means your credit card bills, rent, utilities, student loans, and household expenses – everything. Separate all your bills into these categories so you can easily identify the needs versus wants in your spending.

Buy a log book or accounting book to keep track of all your expenditures. At the top of the log write down your beginning balance for the month, this would usually mean your first paycheck. Then continue listing your expenditures. When you receive another paycheck, if you are paid twice per month, list that as a credit and continue tracking your expenditures as debits. Your balance at the end of the month will give you an idea of where you stand financially.

Assess Your Debits and Credits

Once you have a nice log of your debits and credits for an entire month, you can now begin assessing where your money is going. For example, are you spending too much on eating out or the movies? Are you buying too much new outfits or new technology gadgets? This can be identified as the areas considered “wants”, which you can decrease or eliminate and put that money into a savings.

As you will need a certain percentage of the cost of a new home as a down payment, it is important that build your savings by cutting back on your wants. If you have excessive credit card bills, then you want to take that extra money and pay down those credit cards before you start saving.

Build Your Savings

Once you have established your budget, any monies left over in your budgeting account should be placed in a savings account. These monies should not be used for any emergencies, but for your home purchase. You can establish another savings account as an emergency fund. The amount that you have saved will be reviewed when you begin the home buying process.

Check Your Credit Report

A lender will check your credit history and credit score, so before he or she does this, you should do this on your own. There are many free sites on the Internet that can provide you with this information free of charge. Knowing where you stand in the financial market will allow you to attack your monthly budget to make positive changes to your credit history. This will also ensure that you get the best interest rates on your home mortgage.

In order for you to qualify for a home mortgage, your credit history, as well as your income and what you owe will be reviewed to come up with your debt-income ratio. How much you have saved and your work history will also be analyzed. Be prepared when deciding upon buying real estate so that there are no hidden items that will hurt you qualifying for a home purchase.

Photo above is used under Creative Commons License.  Credit.

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Frugal Real Estate Tips:How to Save & Make Money by Buying a House to Renovate

There are numerous homes which are currently on the market that need serious work done to them before they will be habitable. If you ever dreamt of owning a fixer-upper of a house, you are in luck, since these days there is no shortage of them out there. You will be pleased with the benefits you experience by owning a home that you plan on renovating.

One of these benefits is that you will almost certainly save money when you buy such a property. That is because the property value is based heavily on the appearance of the house, as well as if it is complete, or does not require repairs or replacement of anything large. Buying a fixer-upper home means that the money you put in will be an investment in the long run, because if you turn around and sell it you will you should be able to ask for a bit more than what you paid for the house.

Another benefit is that you can use it as a rental home, or just rent out an apartment (or more than one). For instance, putting in new floors, a beautiful deck, and other attractive features will make prospective renters more willing to pay higher rent than otherwise. Then, you can turn around and use this money for taxes and your mortgage payments. You may even be able to pocket a little extra money beyond your payments.

When you purchase a house that you will renovate, you have the additional benefit of being able to customize it, so that it truly can be your dream home. It is so much easier to customize it, if the house is unfinished or in need of repairs. If you are willing and able to put the time and effort in to this project, the rewards will be amazing.

It is easy for many people to become discouraged when thinking about the cost of supplies, tools, and appliances for the renovation. However, it often balances out or ends up still costing less than if you had purchased a house that was in move-in condition. Also, there are one time renovation loans that are offered by many lenders. Use your resourcefulness and savvy to acquire such a loan, and soon you will be on your way to having your own perfect home for yourself or as a rental. Contact Jensen and Company Real Estate for information and assistance with locating a home to renovate.

Photo above is used under creative commons license.  Credit.

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