Home Ownership 101: The General Guide to Owning Property in the Philippines

For most Filipinos, owning a home is somewhat a necessity. So, we made this guide to help aspiring homeowners understand the general process of owning property in the Philippines.

Budgeting for Purchasing Your Home

Are you financially ready to purchase your own house? Knowing your budget is important to know if you can afford to make such purchase, especially if you will be paying monthly within a certain term duration.

For instance, a typical 1-bedroom, 1-bath rowhouse with basic amenities usually costs Php1Million. You will have to think about the downpayment, the monthly mortgage, and other costs.

Consider several factors when setting your budget, such as income and existing debt. You can also use a benchmark where your total house expenses should not exceed 28% of your gross monthly income.

Available Financing Options for Homebuyers

In the Philippines, the following are the most common financing options for homebuyers:

  1. PAGIBIG Housing Loan
  2. Bank Loan
  3. In-House Financing

Each of these options have their pros and cons. They also have certain eligibility criteria before you can proceed with the loan application. Be sure to consider each option and choose which one fits your situation, and most especially, your monthly budget.

Researching and Choosing the Right Property for You

There are different types of properties available in Cebu. Some of them include pocket subdivisions, rowhouses, duplex, bungalows, and more.

Identify your needs and preferences when it comes to shelter. For instance, do you prefer the location to be near your child’s school? Do you need a bedroom on the ground floor for a senior family member? These are factors that you should look into when making your decision.

Legal Documents and Requirements

Buying and owning a home is not like buying your groceries from the supermarket. Unlike the latter where you just pay for your purchase in the cashier, the former involves legal documentation to ensure that you really are the homeowner, including property documents, land titles, and more.

It is important for you to know what these legal documents are and make sure that they are authentic.

Do Not Skip Home Inspection!

You want to make sure that the house you are moving into is a safe, comfortable place for you and your family. So, never proceed with the sale if you haven’t personally seen the property yet.

For instance, to check the drainage in your bathroom, pour a big pail of water on the floor and check how fast the water drains. If it’s too slow, then there might be something wrong with the drainage system. Notify the in-charge right away.

Closing the Deal

Once you’ve determined that you can afford the house expenses and that you’ve found the right place for you, it’s time to close the deal! In most cases, you will be signing papers, giving documents, at the property developer’s office.

Be sure to get copies of the deed of sale, transfer title, and more. If the property is part of a subdivision, get a copy of the Homeowners Association bylaws manual.

The developer will then provide you with additional information as to when exactly you can move in to your new home.


Buying a house in Cebu involves a lot of steps. Be sure to do your thorough research and preparation in going through the homebuying process.

If you’re looking for quality properties, check out our website.

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