The best time to buy a home

Interest rates haven’t been this low in a long time; developers are coming up with the easiest financing and product schemes ever.

Opportunities for would-be homeowners have never been better. Banks today are outdoing each other in offering the lowest interest rates on housing loans. For their part, real estate developers have come up with a variety of product as well as financing schemes designed to answer the widest range of buyer needs.

Observes Angela dV. Lacson, president of Community Innovations Inc. (CII), the Ayala Land subsidiary catering to young urban achievers: "Potential homeowners haven’t had it this good in a long time. While many of them understandably express reservations about making the big leap to invest in a home, they nevertheless are taking the plunge because of favorable industry conditions and the upbeat investment climate."

A case in point is the 25-hectare Verdana Homes in Southern Metro Manila, 10 minutes away from sister community Ayala Alabang. In less then two months, 90 percent of the lots ranging from 200 to 400 sqm. were sold out. House-and-lot packages recently put on the market will most likely sell as briskly.

With house sizes ranging from 122 sqm., the packages have been worked out so that monthly payments, can be as low as P25,400. Community Innovations has also made arrangements with a number of banks for loans that go as low as nine percent fixed for one year — a rate that has been unheard of in years.

Moreover, the company has made concessions on the completion of the downpayment of the package, which accounts for 25-30 percent of the total investment. This can be paid over an 18-month period instead of all at one time in response to the needs of the market.

Verdana Homes’ housing schemes similarly address the desire of young professionals for great values. The house-and-lot packages that feature California-inspired architecture are all located around the park, the highest point of the upbeat community. Every Verdana home has a porch, balcony and garden areas which can eventually be used for expansion. "We’ve made sure there is room for the family to grow," says Lacson.

Verdana also offers choices in facades, exterior color scheme and interior finishings. Observes Edwin Yabut, who headed the design team: "Homeowners can personalize the homes to suit their needs."

Inside, every Verdana Home is laid out to maximize space, light and ventilation. On the ground floor, the living-dining area open out to a garden. Downstairs and up, each room has two windows that makes use of stylish aluminum frames.

Verdana Homes’ less visible features, nevertheless, are what allow the homeowner best values.