Landing a new job in Davao city? Leaving your parents' nest? Getting married? Having children? Watching your children grow? Having your own empty nest? Retiring in Davao? Investing?

You can find yourself looking for a home for any number of reasons. Maybe you can afford a bigger and better place. Or maybe you need a smaller home.

Before you start, take a few minutes to review some tips from Davao City Real Estate, Rentals and More...Online that can help you find the right home.

Our experience and advice are yours for the asking.

Happy house hunting!

You want to live in the nicest home that you can afford. You want to have enough money to buy the things you need and live the lifestyle you choose.

Usually your local bank manager, Realtor, or property manager has the experience and tools you need to calculate a financing amount that will help you strike a balance between home ownership and a comfortable way of life.

The chart below will help you estimate the size of the mortgage you can afford to carry. These calculations are based on years of experience helping customers buy their homes. Time after time, home buyers who follow these guidelines find home ownership easier, less stressful and a lot more comfortable.

Your annual salary (before income taxes)	₱____________ (A)
Your co-borrower's annual salary, if applicable (before income taxes)	____________ (B)
Other income	____________ (C)
Total income (A+B+C)	____________ (D)
Multiply (D) "total income" by 3.3 to get the approximate size of mortgage you can afford ________________ x 3.3	____________ (E)
For a home purchase, determine the money you have for down payment (including your deposit)	____________ (F)
Add your amount of potential mortgage (E) to your downpayment (F) to help you assess the home purchase price you can afford (E+F)	₱____________ (G)
Note: Any fixed expenses may reduce the amount you can afford.

A good example for a mortgage calculation in Davao can be seen here.

Maintaining a warm, safe environment for you and your family is an accomplishment you can be proud of. One of the easiest ways to make sure that you can maximize your comfort is being prepared for the ongoing costs of owning and maintaining your home.

Use this Needs Analyzer to make sure you'll have enough money left over at the end of the month to enjoy your new home.

Monthly Income
After tax:
Salary/income	₱____________
Government income	____________
Dividend income	____________
Interest income	____________
Pension income	____________
Other
	₱____________
	____________
	____________
	____________
	____________
	____________
	____________
	____________
	____________
Total income:	₱____________
Monthly expenses
Essential expenses:
Food	₱____________
Transportation	____________
Medical/Dental	____________
Other	____________
Loan payments:
Investment	₱____________
Line of credit	____________
Credit card	____________
Car	____________
Other	____________
Insurance:
Life/Disability	₱____________
Car	____________
Health	____________
Other	____________
Discretionary expenses:
Monthly savings (general, down payment, children's education, etc)	₱____________
Clothing	____________
Entertainment	____________
Vacation	____________
Furniture/Appliances	____________
Gifts/Donation	____________
Personal care	____________
Miscellaneous	____________
Total expenses:	₱____________
Income minus(-) expenses = ₱_________________________

This is the amount of money that you will have left each month to cover the costs of mortgage payments, taxes, home repairs, home insurance, condominium fees, as well as water, electricity, telephone and other utility bills.

Owning a home is more than just a financial commitment. It's also an opportunity to create an environment of comfort and enjoyment that matches the way you like to live. As you search for your home, here are a few things to consider.

House versus condominium

House
Pros	Cons
You have more freedom to renovate or upgrade your home as you wish You only pay for the amenities and utilities that you use, instead of a lump sum condominium fee that may include services or features you do not want or need.	You are solely responsible for all of the upkeep, repairs and maintenance. Unexpected problems occur randomly without warning. Expenses may vary by month, making it more difficult to budget for your costs. You are responsible for your security needs.
Condominium
Pros	Cons
One monthly fee usually covers all of your maintenance costs, and you're free from all outdoor chores and undue headaches. Maintenance fees pay for the security, built-in amenities, such as fitness facilities, pools and games room.	You are subject to the rules of your condominium. Plus, you have little control over the amount of your monthly condo fees, which are in addition to your mortgage payments. Condo fees are subject to change and you may have no choice but to accept increases as they occur.

New house from a builder versus resale house

New house from builder
Pros	Cons
You may have flexibility when it comes to upgrading the features in your new home, such as finishing materials, flooring, plumbing and electrical fixtures. New homes are built to meet modern comfort and safety, using the latest building materials and technologies - the result is often greater cost-and energy-efficiency.	Homes in a newly developed area may not be complete on schedule and may not have immediate access to amenities such as schools or shopping centres - these are generally built after the residential population is complete. Noise and dust from ongoing construction may affect the comfort of your new home until the development is complete. New homes seldom come with landscaping or fencing, which can both be substantial expenses for the new homeowner.
Resale house
Pros	Cons
You are most likely moving into an established neighborhood, so you can see which amenities and services are already available. Your property may already have landscaping, fencing and mature trees. It may already have some upgraded features.	An older home could mean higher maintenance costs in the short term, especially on major systems such as airconditioning, electrical and plumbing. Resale homes come as they are, and you may have the added expense of changing wall colors, flooring or other interior design elements that don't suit your taste.

Like the home you'll buy, the neighbourhood you'll select will be a personal choice, based on the size and age of your family, income and individual preferences. Some people prefer the city; others like small towns or the suburbs.

You'll also want to consider whether the neighbourhood matches your lifestyle. Do neighbours meet and mingle or keep to themselves? Is the neighbourhood geared towards young families, professionals or retirees? How close are the amenities that matter to you such as parks, grocery stores or restaurants?

To help ensure you pick the neighbourhood that's right for you, consider the following tips:

• Remember real estate rule #1 - Naturally, you want to find the "perfect home." But while you're searching, remember real estate rule #1: "Location. Location. Location!" You can always change aspects of your home later, but you can't change your neighbourhood or the areas surrounding it.
• Think about the return on your investment - Do you care about the resale value of your home? If you're looking for a starter home that you'll sell within a few years, it may be wiser to invest in a modest home in the best neighbourhood you can afford. The most expensive home in a modest neighbourhood may appreciate less in value and be harder to sell.
• Learn everything you can about the neighbourhood - It's all too easy to fall in love with a specific home. But before you buy, gather as much information as you can about the neighbourhood and surrounding areas.

Your home is the place where you're going to live for a long time, so make sure that the neighbourhood provides enough to meet your long-term needs. Here are some of the lifestyle and financial considerations you'll want to think about -

• Transportation and commuting. How far will you be from your job? Is public transport available? How much does it cost? How often does it run? Are major roads and highways nearby? What's rush hour like?
• Condition of public facilities. Check out the streets and sidewalks (if you have children, having a sidewalk in front of your house may be important). Ask your real estate agent if there are any issues with or improvements proposed for water and power supplies. Visit parks, recreational facilities and libraries.
• Availability of public services. How quickly can emergency personnel get to you? How frequent and reliable is street cleaning, trash collection, etc?
• Proximity to medical services. How close are hospitals, doctors and dentists? Does the hospital have a good reputation for emergency, childbirth or other kinds of care you may need?
• Schools. How close and convenient are they? Ask about student performance, teachers and extracurricular activities.
• Shopping and banking. How close and convenient are they? Is it a long trip just to pick up milk, eggs and bread?
• Future development plans. Does the municipality have a Master Plan? What is the five-year plan for the area? Is there a commitment to preserving undeveloped land? If new businesses come in, will they create unwanted traffic, noise or lights? Are property taxes scheduled to increase? How have they increased in the past?
• Hobbies and interests. Do you or family members swim, fish, hike, golf, etc.? Check out nearby facilities.
• Personal connections. Do you want to cultivate new friendships in the neighbourhood? If you have kids, do potential playmates live nearby? How will your new neighbourhood affect current relationships?
• Safety. What are the crime statistics for the area? Are there high wall enclosures? Security measures, like guards, checkpoints, privacy?
• Social, cultural and religious life. How close are restaurants, theatres, malls, coffee shops and places of worship?
• Neighbourhood property values. Are they increasing, decreasing or stagnant?