Heading: Tips for Saving Money for Your Real Estate Investment in Baguio City

real estate investment in Baguio city

Of all the places in the Philippines, Baguio City is the coolest place to live in. It is, after all, most famous for its cool crisp air as it’s situated 1500 meters above sea level in the Cordillera Mountains. Because of it’s cool climate, and the number of living there, it is dubbed the “little America” in the Philippines. So if you’re looking for a place to invest in real estate here in the country, Baguio City is your best bet.

 

Now, before you can buy a house and lot in Baguio City, you must first have enough money to pay for it. This is because there may not be enough financial assistance for foreigners wanting to make a real estate investment in Baguio City.

 

Here are some tips to help you save money for a house or condominium in Baguio City.

 

1. Search for properties you might be interested in. Check the prices to know how much money you need to come up with. You can also consult with trustworthy real estate agents to know which property suits your needs and budget the most.

 

1. Create a bank account solely for your housing fund. Then, “quarantine” the account from any spending. Set your mind that that savings account is not to be used for anything other than the payment for your house and lot in Baguio City. That way, you can be sure that you’ll have the funds as soon as possible.

 

1. Make savings automatic. You can ask your payroll department to set a fixed amount into your housing fund account. That way, savings happen regularly. By doing so, you won’t have any excuse not to be able to set money aside for the payment of your house or condominium in Baguio City.

 

1. Make it a point to save in large amounts. If you want to have the cash to pay for your real estate investment in Baguio City in no time, try to save in big increments. Cut out on unnecessary expenses to be able to allocate money for your savings. Put off some of the things you want to buy until you’ve saved enough cash for your housing fund.

 

1. Save money wherever possible. For example, if you’re still renting, you can move in to a one-bedroom apartment to save on rent. That is if you don’t have kids yet. Cut down on energy and water to save on your utility bills, too.

 

1. Have more sources of income. Are you skilled in baking pastries? Are you an expert at anything? You can take advantage of your skills and use them to generate more income. That way, you can put in more money into your funds for a house and lot in Baguio City while still having enough cash for your bills and other important expenses, like grocery shopping, fuel expenses, tuition fee, etc.

 

Keep in mind that making little sacrifices in terms of your finances now can go a long way.