Lots of good advice here Alwin and Emma. But before anything else, you need to pay off all your debts, car loans, student loans, credit cards, at kung ano pang utang. How do you that? stop buying things or add more debt, and eat at home, no travel etc. as in be intentional with your money. This will not be easy but it teaches you discipline. Then after you paid it all off, wala na kayong monthly debt payments, you can now save those "payments" for your 6 months emergency funds. Lets say basic needs plus rent is 5K/ month, so save 30K. Again still no spending, live frugal. Only then you can start saving for a Downpayment for a house, 20% is ideal. All these can be done in 5-10 years, you need to sacrifice a lot of things for a short period of time. Tapos kung may bahay na kayo ang goal naman is to pay off the mortgage and save for retirement and college funds, when you reach this stage you can now relax a bit, go travel again, eat out, but always have it on your budget and don't get back into debt. Good luck.
It is a good start for you an Emma/ Alwyn. Keep motivated .. You are going to have a stable job as Legal Asst and Alwyn in Engineering job now!Stay with God.. Keep praying!!
Best move talaga lalo na sa mga bago ay magtabi na ng pang dp and magpaganda agad ng credit. Wag muna spend sa mga di necessary na pwede makasira sa credit. Pag may nakatabi na pang dp and perfect credit and bumaba ang rates, sunggab na.
Maganda po yan nagtitingin-tingin na po kayo ng bahay. Medyo magbasa-basa na din po kayo nung mga different home owners situations at pros & cons like kung gusto nyo yung may HOA na may mga rules na pwedeng magpabago-bago or yung mas may freedom po kayo kapag walang HOA pero syempre minsan baka may mga kapitbahay kayong pasaway na di maayos mag-upkeep ng yards at palaging maingay kahit hatinggabi na. Tsaka parang mas medyo secured yung car kapag may garage. At parang mas ok yung mga houses na di masyadong dikit-dikit for privacy at kapag magkasunog eh hindi madaling magkadamay-damay. At tsaka wag po kayo mahihiya na mag-interview ng mga kapitbahay regarding sa neighborhood at magiging kapitbahay nyo po kasi worst place kapag yung kapitbahay nyo eh mga pasaway or magugulo. Pagdating sa loan medyo mamili po kayo kung local or yung malaking company. Minsan mas mababa ang rate ng local banks pero ipa-check nyo pong mabuti sa agent kasi baka kapag magka- crisis eh biglang magsarado eh baka walang gov't funding. Tapos pili po kayo ng maayos na inspector kasi mahirap makabili ng bahay na madami ka pong ipapagawang nasisira na parang halos bumili kana po ng bagong build na bahay. Baka may mga offers din po dyan na 0% down payment at medyo mababa ang rate
Try nyo din po tumingin outside NE, kahit mahal yung neighbourhood (NW and deep south) kung maayos naman at less crime, kalimitan mas mababa din ang property insurance. You should also consider yung edad ng bahay, especially kung hindi pa napapalitan ang furnace at roof. I suggest mag ipon muna kayo ng pang down payment, marami pang pagkakataon makabili ng bahay. There is a projected increase in default payments from 2024-2026 dahil sa tumaas na interest rates (at least 30% increase on renewal). Those who are not able to renew, will have to go on default and will be forced to sell or foreclose. Meaning mas dadami ulit ang inventory, and hopefully bumaba ang presyo ng mga bahay (buyers market).
Before you start looking for the home you’d like to purchase, get preapproved for a mortgage. Once you know what amount you qualify for, you can start looking for the home that is right for you and your budget. What are the criteria for first-time home buyers in Canada? You must be at least 18 years of age. You must be a Canadian citizen or permanent resident.
Just a suggestion ,look for something na Bi-Level style home. Kc ok un na maging mag ka renter ka sa baba. . Bi -Level ay ok malagyan ng door ang back door para me private door ang maging renters nyo. Or Bungalow style home kc un laging me back door so ok to get it rented & di na kau ma disturb kc di na sila dadaanan pa sa salas or something.
don’t be offended but if you don’t have 20% down and a buffer that covers 6 months mortgage and living expenses, don’t buy. Don’t be what’s called “house poor”.
Just because you can afford the mortgage payments it doesn't mean you should go ahead and buy a home. Take phantom costs into consideration like property tax, strata fees, insurance, maintenance. These hidden costs can add hundreds if not thousands to your total housing cost. Also, set aside money that can cover 6 months of expenses as a contingency plan before buying a home. This way hindi kayo maiipit if an emergency does come up. You're not necessarily worse off renting as compared to owning your home. Your housing expense is relatively fixed (i.e. rent + utilities only) when renting. This will allow you to invest (e.g. dividend stocks) and build a bigger nest egg in the long run. Contrary to popular belief, a home is not an asset. It's only an asset if it's generating a positive cashflow. Since a traditional home bleeds cash (e.g. property tax, strata fee), it's really a liability. Mabuhay kayo and good luck 🤞
I agree with everything you've said, except for a home is a liability. No, your home is an asset. Doesn't matter if you spend $$ on it or you're not earning rental income, it's still included in your networth. You have 1M in real estate, and have 800K mortgage, then you have 200K networth. Simple as that. As you pay that mortgage off and at the same time tumataas value ng bahay mo, so overtime lumalaki assets mo, plus other investments, you can be a millionaire easy.
An asset by definition is something that generates income. A home does the opposite. Not everything accounted for in your net worth is an asset. In any case, everyone here has given valid points. Intentional spending is key for sure. Spending on things to impress people you don't even know is the biggest wealth killer.
@@christophergo8236 your definition of asset is wrong. So by your logic, the cash we have isn't an asset because it's not generating income? The gold/jewelleries are not assets because it's not generating income. And the expensive paintings/artworks people buy aren't assets because according to you, it doesn't generate income? So liability pala bahay mo, does it mean wala kang home insurance? Assets are things you own that holds value. Simple as that. You can say whatever you want but it doesn't change the fact that your home is an asset.
@@6ix_Strings I was actually referring more to mindset and less about textbook definition but I don't want to have an extended discussion here. There are a lot of resources online discussing this very topic.
I think it was priced well no wonder they got an offer right away. I have a client who is currently under contract right now with a townhouse and it's around the same price. 3 beds and 2 baths. Also, the area where we are in sa US, marami din ditong international students :)
Masarap tumingin ng mga bagong bahay kahit kami dito sa Vegas may bahay na kami pero tumitingin pa rin ng mga model home para naman magkaroon ng idea kung may bagong sistema sila na pwedeng gayahin by September will be back in Vancouver sana hindi na malamig o malapit na ang lamig musta na ulit Alwin and Emma ingat
Much better if you buy a duplex instead of townhouse and look for a family oriented community lalo na may baby kyo. Madaming new construction homes sa SE or NW. Libutin nyo muna ang Calgary para makita nyo yung magagandang communities. Wag po kayo sa NE if possible.
Its also good to start with townhouse then sell after five years you gain at least then buy the single house you want or if you want to go direct to sinle house ok din but pls review the school the community and how far from work and its really better buying than rental fro buying you got taxes refund and also its your piggy bank in the future when you sell that adds to your retirement money just some advises
Dont buy condo or townhouse kung may condo fees. You be better off buying single house. May mga trap mga condos or townhouses now a days. Sometimes they request cash call, meaning kunwari may pagagawa na kailangan ang budget of the whole complex. You have to pay it withing certain days. Yung co worker ko kabago bago ang condo binila nya within the last 2 years he paid $15 k cash call. Beware.
@@mariagraciavillanueva7159 I think sa current situation ginagawa nilang scam. Tignan nyo bini build na bagong condo ngayon puro kahoy tapos in 2-3 months tapos na.
rough guesstemite in puchasing a house.... 25 to 30 percent of your take home money.... if possible with one income.... how much is the HOA.... it's too expensive right now.... it's better to use it toward a single home residence....
Ang wind shield ninyo lumalaki ang crack ipagawa ninyo lalagyan ng glue yan para hindi na lumaki…way back 2014 pero ngayon dito na aq sa new zealand diyan din aq sa calgary naka live dati…sana ma PR kayo diyan..
HOA ang pinaka malaking problema ngayon sa mga housing marami kasi ngayon ang hinahanap ay walang HOA kasi yung bayad mo monthly at hindi na bababa tiyak pataas pa ganyan ang nangyari sa Florida sobrang taas ng abot langit ang itinaas about 150% maraming gustong ibenta ang mga bahay nila o condo pero walang bumili dahil sa HOA at property insurance nila mahirap ngayong magsimula dito sa US kasi lahat mahal suwerte ka kung may bahay ang parents mo
Kakatawa ung comment section na to😂😂😂😂 Wag na kayo mag sipag bili ng bahay mag rent nalang kayo Para matulungan nyo ung mga landlord nyo na paid off mga rental property nila😂😂😂😂 20% dp? For what to avoid mortgage loan insurance??? Mga tukmol na commenters Pwde ka naman mag dp ng 5% lang muna then keep the other 15% as your emergency fund Asa alberta kayo wala kayo sa BC or Ontario na talagang kailangan nyo ng 20% dp Sir and mam pls lang mag detached na bahay na kayo wag kayo bbli ng townhouse na ganyan. Sayang lang pera nyo dyan😂😂😂 walang difference ang townhouse sa apartment Kung starter home lang eh bumili kayo ng bahay under 300k May kotse ka naman at ok din naman transpo dyan sa calgary
I know sooner or later you will buy a house. Let's be honest that is a goal to most for us mapa PInas , USA, Australia , NZ , HK ,Dubai or Canada. Work hard for it , dream it use all your options coz you will live it in. We buy our first house thru emotions ( guilty) however it is true. SECOND yes we buy what we can afford to tell you honestly 100% true kasi the bank will dictate the amount anyways ( the amount you can barrow) ( not unless you have lots of money and by pass them) Third, in Calgary choose your neighboorhood wisely as this will dictate your soon to be lifestyle including your family. For example if you have children then choose community that has schools so your kids wont be bussing Mind you even the most undesirable neighboorhood in Calgary still nice . Choose neighboorhood that will give you and your children the opportunity to flourish Nive ammenities ( swimming pool, hockey arena , climbing , basketball , tennis court etc) I know i sound choosy however it will benefit your children later on to assimilate to Canadian society ( if that is your aim) since we all want to live in Calgary Canada then we will assimilate like everyone who become successful and thriving in this wonderful country. Please note listen to other pople's advise at the end.you still end up with the mortgage so who cares what other people say LOL😂
Beware ,If the BROKER told you that somebody got the house or asking make an offer . Do not deal with the B FIND ANOTHER broker that didn’t do a BIDDING, BIDDING SYSTEM will only did by the VULTURE OR CROCCIDILE broker. Broker wants to add $100 k to 150k when selling a house. I heard in EDMONTON when you buy a house there’s no BIDDING SYSTEM.
Boss maitanong ko lang,kung bibili ka ng bahay dyan sa Canada,thru bank loan po ba yan?kung ganyan yong proseso,sa tingin ko,walang pinag-iba yan kung mag-rent nlang,well,yong akin,opinion ko lang to,
Its also good to start with townhouse then sell after five years you gain at least then buy the single house you want or if you want to go direct to sinle house ok din but pls review the school the community and how far from work and its really better buying than rental fro buying you got taxes refund and also its your piggy bank in the future when you sell that adds to your retirement money just some advises
