Being a single parent is a hard job. Aside from making sure that your children are safe and happy, you also have to make sure that your budget sticks right until the next payroll comes around. Because of this, tons of single parents are not able to buy their very own property. The expenses in raising a household alone will keep anyone from buying their dream property.
Fortunately, there are ways in which a single parent can have access to a good house. One must only look for options that are already available. Below are some tips that may help you buy a property when you’re a single parent.
Create a checklist
Create a checklist of what you need in a house. How many bedrooms do you need? How many bathrooms? Is it ok for you to live outside a subdivision? Which properties are near my child’s school? These are the questions that you need to answer in order to narrow down the house that you truly need.
Find a suitable home for your budget
Let’s face it, in terms of your current budget, you will have a hard time buying that three bathroom house in Makati. Set realistic goals and aim for a property that fits your budget. It will be easier for you to get home loans from banks and lenders if your chosen property is cheaper. Use an affordability calculator to find out which property fits your budget. Go to our portal to see cheap properties that are totally in your price range.
Opt for homeownership programs
Seek help from the local government. There are tons of programs available in the local government that may help you finance for a house. There are also HUD or Housing and Urban Development programs that are available for single parents. All you need to do is to go to your local barangay and ask for assistance.
Heed help from PAG-IBIG
PAG-IBIG is the government institution that may help you finance your future property. It can give you a home loan that requires a small interest and does not ask for major application forms. It also caters to OFWs. Click here to learn more on how you can get a loan from PAG-IBIG.
Consider home maintenance
Aside from acquiring property, you also have to plan ahead about home maintenance. Even though this is not as crucial as buying a property, this will still come in the long run and may affect how you use your finances in the future.
Any questions on how you can buy property? Scour through our blog for more tips or ask us on the comments section!
