Welcome to Your Home, Your Dream!
I'm so excited to share important concepts and advice in building your own home. its giving advice to make your dreams come true!
I am an advocate of advising people to build your own home instead of buying from the multitude of new houses from developers all over the country. Believe me, its much cheaper! But i have this to say - you have to have enough capital to start with this direction of building your own home. More on that in the next articles.
Here is the first idea. The developers build houses or condominiums and they are so tiny or are expensive for such a small space!
Imagine this sample brand new house for sale recently:
Floor Area: 40 sq. m. (430 sq. ft.)
Lot Area: 153 sq. m. (1,646 sq. ft.)
Location: Taguig City, Metro Manila
Price starts at Php 5.5M ($ 122,000.00)
Its PhP 137,500.00 ($3,050.00) per square meter of livable area! Oh my! And to think the size of the house is targeted to those just starting their families. Too expensive!
Or this brand new condominium for sale:
Floor Area: 80 sq.m.
Price: PhP 4M ($88,900.00)
That is PhP 50,000.00 ($1,110.00) per sq.m. (Oh my!)
A few years ago, I helped a friend of mine build their family's home. Although its not completely, totally, glowing paint and all finished new like what we see in the developer's model units, they prioritized building the actual structure and finishing the inside and making it livable. They are taking time to save up and slowly but surely finish their Dream Home! Take a look at the specs and close estimate on how much they spent for a huge house!
Lot Area: 200 sq. m.
Ground Floor area: 160 sq.m.
2nd Floor area: 194 sq.m.
3rd floor rooms: 63 sq.m.
3rd floor roof deck: 130 sq.m.
When they started to move in, they spent about PhP 6M ($133,300) to get the house about 90 percent complete! They saved a LOT..
This is 420 sq.m. of livable area PLUS a 130sq.m. roof deck!
My best estimate is they can finish the house with a total of 7M.
Excluding the roof deck - this is PhP 16,700.00 per square meter!!!
The whole property is divided into three - Her family, Her Parents, Her Siblings, and two rooms for Rent (Wow, what a game plan! passive income included..)
Now its your turn.
Build Your Home, Your Dream!
hi, your post is very informative and helpful. i am planning to construct an 8 unit (sutdio type) apartment, 4 units 1st flr, 4 units 2nd flr.
ReplyDeleteI have some knowledge about construction and know some foreman and construction workers. However, this will be the first time for me to oversee a construction.
I don't plan on getting a contractor, to save money. What advise can you give me?
Thanks!
Hi Butchog_8,
ReplyDeleteWhat is your background in construction? Are you an engineer?
My Advise - Read all my posts.. hehe..
Get the budget right. Do you have enough cash on-hand?
Get as much detail on the plans as possible.
Who do you get advise from concerning construction related questions of yours?
Use quality materials. Shop around, don't just rely on the neighborhood construction supply store.. although they are convenient because they will be close to the site
Happy building!