What Makes an Affordable Home?

The population, in the Philippines alone, continuously rises in number, and the demand for housing increases with it too. The Philippines is one of the hottest property markets in Asia right now according to BizNewsAsia, but this demand and supply data revolves mostly around the new offices, recreational places, and luxurious units available. With today’s economic situation, the regular Filipinos aspire their dream home in a more financially-friendly way.

Affordable or low-cost housing is one of the three categories set by the Housing and Urban Development Coordinating Council, the government agency that oversees all the other housing agencies. These are houses ranging from Php1.7 million to Php 3 million — the lowest priced available in the market. And according to a Lamudi’s finding last year, online inquiries for low-cost housing reached 50% in the first quarter of 2018 alone.

So what is an affordable home? Why do most families prefer this? How does it differ from other home categories?

Similar Styles With Different Types to Choose From

One of the most identifiable characteristics of affordable housing is their similar external design. The exterior design depends on the community or property theme. There are several types available depending on the land area and the house price. Some of them offer a bungalow styled home, a single-attached or single detached unit, a twin homes, a twin pod, and more.  

Depending on the contract, people can customize their homes and the way they look once everything is settled.  

Floor Area is Just Enough

Just like any other homes, affordable housing has areas for dining, living, kitchen, toilet, and bath. Space is just enough for the family to roam around. The number of bedrooms depends on the floor area, but in most homes, there is a master’s bedroom and a second room. Some also come with a porch, a parking lot, a maid’s quarter, and a service area. There are several options to choose from depending on the real estate property you’re eyeing.

Compared to apartments or homes for rent at a cheaper price, affordable homes offered by real estate developers have a more beneficial and more humanely space.  

Inclusive Amenities

Some real estate developers now also offer amenities within the whole community property. These amenities include a swimming pool, a basketball court, a play area, and a village pavilion. Others also have a playground for the kids, a multipurpose clubhouse, a landscaped community gate with security guards.

Low Monthly Amortization

What sets this house apart from other categories is its market price. This house option is specially made for low-income earners so expect a more friendly monthly cost. The government’s public rental housing program can also assist homebuyers in purchasing their own homes.

A home, no matter how big or small, how fancy or simple, so long as it makes one comfortable and safe is what matters. It is where you feel warm and cozy spending time with yourself or with your loved ones. It is where you eat meals and share a good laugh together. A home is more than a roof above your head. It is one of the basic human needs and having affordable options now in the market gives hope to more Filipinos.

Developers are now joining together in projects to develop more affordable homes for the Filipinos.

If you’d like to know more about affordable housing options, join Lamudi’s Affordable Housing Fair on July 20 and 21, 2019 at the Glorietta Activity Center. It is a two-day event where you can enjoy exclusive property discounts, and take part in a live auction on foreclosed properties. This is your chance to ask questions from real estate agents and brokers. This may also be your chance to finally get your dream home. The Subdivision and Housing Developers Association, Inc. (SHDA) is the official Event Partner. The event’s Media Partners are Business World, Business Mirror, Malaya, Inquirer, and Philippine Star.

SMDC is a Premium Sponsor. The event’s Major Sponsors are Lancaster New City by ProFriends and Federal Land. DMCI Homes, BPI Family Housing Loan, Aboitiz Land, and Food Panda are Minor Sponsors.

Source: BizNewsAsia

To know more about the housing fair, visit the official website today.

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