There’s definitely a lot of ways to look for houses in Cebu. If you’re like me, who didn’t have any inkling about real estate in Cebu then I hope this guide will help you out in your quest for your dream home. First and foremost you need to ask yourself if you’re ready to buy your own home. It may seem easy but you need to expect that there will be expenses and some even quite expensive depending on the type of house you choose. These expenses include reservation fees which may cost around 5,000PHP to 30,000PHP and most of the time the equity. There are some houses here in Cebu, however, that don’t require you to pay equity. These are specifically row houses which typically have 2 bedrooms but the bad news is that most of the time they are not complete. So, you are likely to spend for room partitioning, interior painting, and other finishing touches. The costs of these homes are around 500,000PHP to 1,400,000PHP. This is one option that’s best for those who want to design their own home or who are looking for that perfect dream house look.

There are 3 options you can take advantage in paying for your home which are through in-house financing, Pag-Ibig housing loan, and cash or deferred cash. In-house financing are typically short-term so expect to pay around 40,000PHP to 70,000PHP per month up until you have paid the house in full or it may also depend on whatever is your arrangement with the developer. If you’re currently renting then you might want to ask the developer how soon you can transfer to your new home. Some will actually allow you to move-in after you have paid the down payment or equity which is around 20% to 30% of the total home selling price. For Pag-ibig home buyers, some developers in Cebu will allow you’re to move-in once your housing loan is approved. But expect to pay the equity and the Pag-ibig monthly amortization for the next 2 years or more. The good thing about this is that you get to transfer to your new home and start paying for it instead of paying the rent.

Research is another important step in looking for a house in Cebu. Once you have decided where you want to have your home, try to look for different websites online that feature Real Estate. There are plenty of townhouses and row houses found in subdivisions that are very affordable. Of course, if you have money then you will be able to afford single detached homes in primary subdivisions which could cost around 1.7 Million to 20 Million. It’s better if you pay in cash or pay the down payment as soon as possible so that you’ll get a discount. Developers do offer discounts from 20,000PHP to 200,000PHP. You can simply Google the keywords house and lot for sale or houses for sale in Cebu. There will be several websites that feature different types of homes. Here are some of the most popular Real Estate websites in Cebu.

Cebu Best Homes – www.cebubesthomes.com
Islands Properties – www. islandsproperties.com/properties/cebu.htm
Philippine Real Estate – www.philippine-real-estate.net/
Cebu Classifieds – www.cebuclassifieds.com
For Sale in Cebu – www.forsaleincebu.com

You also need to consider finding the right broker. Their services are for free and you can take advantage of their assistance during site visits. This is great since you get to visit real estate properties then decide which is perfect for your needs. Just be sure to do your home work though. Most brokers just want to get your sale since they will get a commission every time they have a buyer. Their commission is approximately 3% to 5% of the home selling price which is a significant amount of money. So expect that they may not tell you everything there is to know about the property. This is why you have to ask specific questions like whether or not the house is complete with room partitions, ceramic flooring, interior paint, etc. Make sure to ask these sorts of questions to the developer themselves just to be sure. The last thing you want is to end up with an unfinished house when you’re expecting it to be complete.

Lastly, for Pag-ibig members make sure to visit Pag-ibig’s website to learn more about their requirements for a housing loan or visit the branch nearest to you. Good luck in finding your dream home and hope you learned something from this short guide!

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