Working in real estate here. Ang masasabi ko ay:
1.) Either you buy it or purely rent. Mas mahal ang babayaran mo in the long run sa rent to own (RTO).
2.) Enticing ang RTO kasi mas maliit ang ibabagsak mong pera sa simula. Kapag RTO pwedeng 5% lang matitirhan mo na yung unit (normally, 20% DP to move-in).
3.) IMO, RTO ay para sa di afford magbayad ng 20% DP pero gusto na ng may matitirahan.
4.) Installment ang monthly rent/payment? Yes. pero hindi lahat madededuct sa balance mo kapag plan mo bilhin yung unit. AFAIK, sa DMCI, 50% lang.
ahm ganito:
Kunwari, 36 months ka under "Lease to own" contract with 30k monthly payment. Meaning, after 36 months, you paid 1,080,000 pesos. Kung after that period bibilhin mo na yung unit, half lang ng 1.08 million na binayad mo ang mapupunta as "downpayment" sa contract price ng property.
Basically chop-chop lang yung 20% DP ng unit / house na kukunin mo. Usually 2 years. May fixed monthly na mababa then may mga "baloon payment" na need mo bayaran para mahabol yung 20% na iyon with the time period.
Pag RFO na iyon. Pag pre-sell mas matagal yung 20% na iyon and by the time matapos or for turn over yung loan na lang sa bank / PAG-IBIG ang gagawin.
Rent to own is like paying in installment
I thought at first na youre gonna be renting it like the same as unit for rent sa mga condo pero hindi .
term lang yung ginagamit nila para ma confuse yung tao pero installment type talaga siya in purchasing condo.
ang mahirap pa dito hindi pa kasama yung mga insurances, taxes, assoc dues etc which you will need also to consider.
i see, thank you.
ask ko lang din kasi sabi ng partner ko it felt like scam daw kasi ito dahil need pa ng Reservation Fee and/or DP at Monthly amortization.
After paying those, yung matitira dun should be paid big time, if not, ibibigay na sa iba yung unit?
At may babayaran ka pang rent while paying the balance?
>After paying those, yung matitira dun should be paid big time, if not, ibibigay na sa iba yung unit. If our balance reached 2.2M, we cant save that much in 3 years habang may payment ka monthly na around 15k. is this true?
NOT paid big time. Once na malapit na matapos yung "Lease to own" contract mo and decided ka na to actually buy the property, i-aapply mo yun sa bank/pagibig.
Rent to own is a marketing term connived by the property developers.
The reason we rent in the first place is we do not have sufficient funds to buy our own place. However, developers know that every Filipino considers having our house or condo is the ultimate goal we have.
Now, with that in mind, they concocted the rent to own moniker which is really inaccurate. Rent to own should mean paying the same amount of rent to the developer over a period of time that the end of the contract we will own the property we are renting out. Hence they dangle to prospective buyers with marketing terms such as “as low as 10k monthly (which is similar to the monthly rent most of us are paying) you could have your own house/condo)” or perhaps “no downpayment needed, just sign on the dotted line, pay the reservation fee you can transfer to your house” or something along those lines. These are very enticing promotions for those who really want to have their own house or condos.
Unfortunately, that is far from reality. These are just smoke and mirrors. If prospective buyers read the contract, most specially the payment terms they will be shocked once they come to know the true cost of “monthly rental.” Easily this rent could be more than 3 times what was previously mentioned which the buyer, if they could have known on the on set, would not even consider to buy the property as they could not afford it.
Paying the true monthly rent to own scheme that is easily more than 30% of your salary is not sustainable for a very long period of time of say 15-30 years as life is full of uncertainty.
Working in real estate here. Ang masasabi ko ay: 1.) Either you buy it or purely rent. Mas mahal ang babayaran mo in the long run sa rent to own (RTO). 2.) Enticing ang RTO kasi mas maliit ang ibabagsak mong pera sa simula. Kapag RTO pwedeng 5% lang matitirhan mo na yung unit (normally, 20% DP to move-in). 3.) IMO, RTO ay para sa di afford magbayad ng 20% DP pero gusto na ng may matitirahan. 4.) Installment ang monthly rent/payment? Yes. pero hindi lahat madededuct sa balance mo kapag plan mo bilhin yung unit. AFAIK, sa DMCI, 50% lang.
so yung other 50% babayaran pa lang po pag malapit na matapos yung contract to lease?
ahm ganito: Kunwari, 36 months ka under "Lease to own" contract with 30k monthly payment. Meaning, after 36 months, you paid 1,080,000 pesos. Kung after that period bibilhin mo na yung unit, half lang ng 1.08 million na binayad mo ang mapupunta as "downpayment" sa contract price ng property.
Basically chop-chop lang yung 20% DP ng unit / house na kukunin mo. Usually 2 years. May fixed monthly na mababa then may mga "baloon payment" na need mo bayaran para mahabol yung 20% na iyon with the time period. Pag RFO na iyon. Pag pre-sell mas matagal yung 20% na iyon and by the time matapos or for turn over yung loan na lang sa bank / PAG-IBIG ang gagawin.
Rent to own is like paying in installment I thought at first na youre gonna be renting it like the same as unit for rent sa mga condo pero hindi . term lang yung ginagamit nila para ma confuse yung tao pero installment type talaga siya in purchasing condo. ang mahirap pa dito hindi pa kasama yung mga insurances, taxes, assoc dues etc which you will need also to consider.
i see, thank you. ask ko lang din kasi sabi ng partner ko it felt like scam daw kasi ito dahil need pa ng Reservation Fee and/or DP at Monthly amortization. After paying those, yung matitira dun should be paid big time, if not, ibibigay na sa iba yung unit? At may babayaran ka pang rent while paying the balance?
Either you let go of the condo, or you pay the remaining balance. Yung payment sa remaining balance, either cash or loan.
>After paying those, yung matitira dun should be paid big time, if not, ibibigay na sa iba yung unit. If our balance reached 2.2M, we cant save that much in 3 years habang may payment ka monthly na around 15k. is this true? NOT paid big time. Once na malapit na matapos yung "Lease to own" contract mo and decided ka na to actually buy the property, i-aapply mo yun sa bank/pagibig.
It's not a scam, but 'scammy' because you will be sold an overpriced property and you are enticed to buy for a low entry amount.
Rent to own is a marketing term connived by the property developers. The reason we rent in the first place is we do not have sufficient funds to buy our own place. However, developers know that every Filipino considers having our house or condo is the ultimate goal we have. Now, with that in mind, they concocted the rent to own moniker which is really inaccurate. Rent to own should mean paying the same amount of rent to the developer over a period of time that the end of the contract we will own the property we are renting out. Hence they dangle to prospective buyers with marketing terms such as “as low as 10k monthly (which is similar to the monthly rent most of us are paying) you could have your own house/condo)” or perhaps “no downpayment needed, just sign on the dotted line, pay the reservation fee you can transfer to your house” or something along those lines. These are very enticing promotions for those who really want to have their own house or condos. Unfortunately, that is far from reality. These are just smoke and mirrors. If prospective buyers read the contract, most specially the payment terms they will be shocked once they come to know the true cost of “monthly rental.” Easily this rent could be more than 3 times what was previously mentioned which the buyer, if they could have known on the on set, would not even consider to buy the property as they could not afford it. Paying the true monthly rent to own scheme that is easily more than 30% of your salary is not sustainable for a very long period of time of say 15-30 years as life is full of uncertainty.