Affordable Rent to Own House in Caloocan
The “Sulok” of Metro Manila
Caloocan is known as a city filled with history. It was used as one of the headquarters of the Katipunan during the Spanish rule, and was witness to several iconic moments during the era, one of which is the “Cry of Pugadlawin”, where the revolutionary organization the Katipunan, declared war on the Spanish administration. It was at this time when Andres Bonifacio led the members of the Katipunan to tear their cedulas, marking the debut of the Katipunan to both the Spanish rulers and the general public.
The Bonifacio Monument, which stands on the intersection of Rizal Avenue and EDSA, serves to remind the people of the sacrifices that our ancestors have made for us to have the freedom that we enjoy today. It was sculpted by Guillermo Tolentino, considered one of the greatest National Artists that lived, and whose portfolio includes the Oblation in the University of the Philiipines in Diliman.
Surrounded by Manila, Quezon City, and even in Bulacan, Caloocan appears to resemble the Tagalog term from which it was named: lo-ok, which is the root word of Kalook-lookan, roughly translates to the common term, sulok, which in turn, translates to “innermost area”. Today, Caloocan stands as a proud city of heritage, culture, and industry.
Apart from its colorful history, the city is known as a sister city of Incheon in South Korea, pursuant to an agreement its local government entered into with the local government of Incheon, where both sides have agreed to share certain aspects of their culture and education. The agreement also facilitates economic cooperation between the two cities, including terms as to certain investments.
Rent-to-Own House in Caloocan
Renting a house with intention of eventually owning it is arguably one of the best ways to turn a house into a home. It allows residents to slowly pay their way into property ownership through in the event that they do not have the finances for an outright purchase. Like any investment, renting to own has its advantages. Apart from avoiding a lump sum payment, among these is the opportunity to already live in and improve the house ahead of owning it.
Renting a house in to eventually own in Caloocan specifically, also has particular advantages. Accessibility is one, as Caloocan has access points to Manila, Quezon City, Novaliches, Navotas, Valenzuela, and even Bulacan. This means relative distance to major cities, and the commercial locations, medical facilities, universities, and offices within each.
The top universities in the country, for instance, are located within Manila and Quezon City. The Ortigas Center, which is known as one of the most important central business districts in the country, is also in part located in Quezon City. The city also has access to two of the railroads in the Metro, the LRT Line-1 and the PNR, which provides easy access to key areas in Manila, Pasay, Paranaque, and Makati.
The cost of renting-to-own a house in Caloocan would vary depending on the location, the size, and the terms of the contract. For instance, renting a 3-bedroom, 94-square meter townhouse unit in Amparo subdivision would cost around Php 2.6 million. Its contract includes a 10% down-payment and monthly installments of Php 28,000. The subdivision is located rather close to Quirino Highway, one of the main roads in the city. Another 3-bedroom house at 102 square meters located in the same subdivision costs around Php 3.6 million. Its contract includes a Php 30,000 reservation fee, a 10% down-payment, and a schedule of installments depending on the term of the contract.