House and Lot in the Philippines
Buying a house and lot for sale in the Philippines is an aspiration for many Filipinos. It is the most preferred type of real property for many because you own the house and the land on which the property is built. This type of home gives homeowners more freedom to make improvements and enjoy a more private setting. A house and lot is perfect for growing and large families in need of a bigger space.
There are different kinds of houses and lots for rent or sale you can choose from:
- Single-attached
- Single-detached
- Bungalow
- Duplex
- Triplex
- Multi-level
The price of a house and lot depends primarily on its location. Houses found in gated subdivisions are more expensive, especially if they are situated in or near business districts. Meanwhile, homes located in the outskirts of Metro Manila including Cavite and Laguna are more affordable for homebuyers.
Things to remember when purchasing a house and lot in the Philippines:
- Foreigners can’t own a house and lot, unless the title is named after their Filipino spouse.
- You are required to pay Real Property Tax yearly.
- Living in a house and lot is more high-maintenance since you are solely responsible in its upkeep.
- Verify with the Registry of Deed and Land Registration Authority the property title to avoid getting scammed.
