How much is a house?

Saturday, February 7, 2009

One of our most basic need is a home; a shelter where we feel safe and secure. A home is of course, a house with your family on it.

I am in the time of my life where I am seeking independence from my parents loving providence. It's not that I am ungrateful, I will always be. My parents have always provided for me, even when I am making more money than they do (they're retired by now that's why). But I guess, everyone comes to a certain point in his life where he wants to live separately (though still emotionally connected) from his roots.

I am not ready but I am preparing myself for it. My parents are quite supported of my plans. I am hoping to buy my own lot and build my own house. But how does a self-employed like me with few financial documents to show to banking institutions gets to buy a lot, much more build a house? What are my options?

I think mortgaging is common. I play monopoly but I could not grasp the meaning of mortgages in real life. I needed some explanations about it. I realized there are different kinds of mortgages from a website. People also need a good credit score for the housing loans to be approved especially that financial institutions are in crises now. There's a company however, that offers services to help people on applying for these loans especially people with bad credit score.

If I apply for one, how long will I be paying for it? Will I live that long to complete it? LOL. How much will it be? Will it cost all my life's work?

Photo credit: here

6 comment(s):

Marites said...

due to the worldwide recession, the interests of most loans, like housing loan, are lower than before. So, it's a good idea to get a mortgage now. by the way, i got an award for you here

iceah said...

hahaha c: so many questions no c:

chubskulit said...

You're preparing for the future of your own na talaga pchi hehehe.. medyo naamoy ko na ang wedding bells hehehe..

joops said...

the terms of mortgages depends in so many different aspect including your credit status, the longivity of the loan and other stuff...

Good luck with your plas Ms. Pchi!

Nanaybelen said...

Good Luck ! the earlier the better.

med said...

just came to say HI for today

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