February 8, 2023

The Griff Blog – Business & Stuff

All About Business & Stuff

Your Dream Home in the Philippines is Possible – Here’s How!

4 min read
Dream Home in the Philippines

Image by Nattanan Kanchanaprat from Pixabay

Griff | Your Dream Home in the Philippines is Possible – Here’s How! | Buying a home is a milestone, like graduating from college, getting married, or having children. However, buying a home is harder than it appears.

Unfortunately, the days of saving enough to buy a home are over. Most people buy their first house with a mortgage. Unfortunately, a downpayment is now nearly always required for a Philippine housing loan.

Homeownership is a tremendous responsibility, but a well-planned savings plan can help you buy your ideal home.

Set Your Budget

Consider a realistic home price range for your current and future financial condition. Knowing how much you can spend helps you budget and narrow down your housing choices.

Financial advisors worldwide advise multiplying your annual net income by 2.5 to determine what you can afford. If your net income with your spouse is Php120,000 per month or Php1.44 million per year, your perfect residence may cost Php3.6 million.

Downpayment Goal

Set a property downpayment goal after choosing a pricing range. Important number? 20%. 20% of the property’s price.

The standard downpayment is this. You can pay more than a fifth of your home’s price and get a cheaper interest rate by borrowing less.

If your family bought a Php3.6 million property, the downpayment would be Php720,000. The developer would repay this monthly for 12–50 months.

Use online loan calculators from trustworthy home loan providers like the Bank of the Philippine Islands to estimate your loan, downpayment, and monthly payments (BPI).

Spend Less

Cut wasteful spending to accomplish your downpayment goal faster, like with any savings plan. This involves avoiding unnecessary expenses and choosing cheaper ones when necessary.

As savings accrue, every effort becomes more important, from forgoing pricey beverages to patiently preparing home-cooked meals instead of ordering or dining out.

Earn More

Digital platforms and solutions make it easy to increase your income. There are various strategies to build cash and buy your dream home, like working from home again, selling stuff online, investing in the money market, or starting a stock portfolio.

Experts recommend investing when you have disposable income to expand your savings from several sources. If you have a home-buying timeline, financial institutions offer time deposit and investing plans with short durations that can be rolled over multiple times.

Find the Right Home and Loan

When most of your property acquisition goes well, you can save more for your home. It’s crucial to research as many property possibilities as possible and not jump at the first decent deal.

Housing loans are similar. Some banks may authorize you for more than you need to win your business. Stay calm and stick to your price range in these cases. Once the costs arrive, buying a more expensive property will lose its appeal.

The objective is to obtain a housing loan that helps you buy the home you want and has acceptable terms and interest rates.

BPI offers housing loans to help homebuyers buy their dream homes at affordable rates and terms.

The first bank in the Philippines and Southeast Asia offers one of the lowest home loan interest rates at 6.25% for one to two years and one of the longest total periods at 25 years for houses and lots. BPI’s Step Up Pay Plan has a much lower monthly loan payment than a typical BPI home loan’s amortization.

Buying a house and lot or condo via Ohmyhome? Connect with an Ohmyhome agent for assistance completing your BPI loan application!

For convenient access to the latest properties for sale in the Philippines and comprehensive real estate services and information, visit Ohmyhome online or download the Ohmyhome app, today!


Ohmyhome was launched in the Philippines in September 2020, following the company’s establishment of a tech team in the country in 2017. Ohmyhome was originally founded in 2016, and subsequently rose in Singapore as a leading PropTech solution and licensed real estate agency.

Ohmyhome expanded into the Philippines so that Filipino home seekers can have a real estate partner that they can trust to have their best interests at heart and can be relied upon to provide exceptional services throughout the entire property journey.

Featuring thousands of properties across many of the Philippines’ major real estate brands, Ohmyhome differs from other local platforms by going the extra mile and extensively helping buyers narrow down their choices and find the property that best suits their budgets, home needs, and lifestyle preferences.

The company’s Real Estate agents help in the shortlisting of options and provide professional services through the entire purchasing process. These include assistance in property inspections, negotiations, the finalization of the Conditions of Sale, deposit collection, the submission of property documents, as well as providing buyers regular updates. 

Ohmyhome helps Filipinos find their dream homes, all while making sure each real estate transaction is complete and is an efficient and enjoyable experience.
Stay connected with Ohmyhome Philippines by following our official Facebook, Instagram, and LinkedIn accounts.

Image by Nattanan Kanchanaprat from Pixabay