how we built our finances to buy a house in our twenties in the philippines

me and my partner aren’t from wealthy families. we’ve been together since the days when we barely had anything in our pockets. there were even times when we didn’t have enough money to feed ourselves. so, how did we manage to own two houses in our twenties?

first, it’s all about having a reliable partner. finding someone you can share this big goal with is crucial. talk openly about when, how, and what kind of house you both want to get. being on the same page makes a huge difference.

Me and my partner at PAG-IBIG Calamba, signing documents

next, having a consistent income or a stable job is key. without that, it’s tough to make any financial progress.

it’s also important to educate yourself on how government programs work. learn the ins and outs of paying your taxes, and make sure you’re consistently paying your sss and pag-ibig monthly contributions.

paying your taxes properly in the philippines is essential because it serves as proof of employment when you apply for a bank loan to buy a house. plus, paying your sss contributions is like preparing for your future. not only do you secure your retirement, but you also gain access to benefits like medical support, death benefits, maternity leave, and even loans for home renovations.

https://video.wixstatic.com/video/bb4701_df0c274781c94e568ef0088b0874a0e4/1080p/mp4/file.mp4

speaking of pag-ibig, take advantage of their housing programs that offer low monthly amortizations. it’s a great way to make homeownership more accessible.

after understanding these three key areas, the next step is to save money. from my experience, i saved 200,000 pesos before applying for a pag-ibig housing loan. this covered document fees and initial house renovations. we started with a simple row house in the province and spent another 100,000 pesos on furniture and other expenses.

now, we’re on our second house, and i couldn’t be more proud of how far we’ve come.