Friday, February 22, 2008

With A Little Help...

I got interested on this article which talks about parents helping their children purchase their houses. It's quite relevant since this is what we are somewhat praying that my Dad would do for us.

We have been living with my Dad since my husband and I got married. We're actually not complaining since the house is newly-built and is big enough for our needs. However, part of our family vision and mission is also for my husband and I to be able to buy our very own house and lot. We plan to get a Homeowner Loan soon. One option is to apply for a housing loan in a bank. I can also avail of a housing assistance loan in my company as part of my benefit as an regular employee. Our in-house terms and rates are still lower than that of any commercial bank around. The only catch here is that I would be tied up with the company and won't be able to resign as long as I have a big outstanding loan with them.

At any rate, whatever our decision will be, there are still a few things we need to settle. First and foremost, we need to decide on the location of the property that we would purchase. We want to find a place that's just near our present house. We currently live in a suburban area where it is safe and conducive for children to be brought up. The only problem is that our area easily gets flooded whenever there are strong rains and typhoons. Our second problem is not having enough savings for the down payment or equity to purchase the property. While we're really trying to save, hopefully, my Dad can also help us in that aspect. We're keeping our fingers crossed!

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