How to build your dream life with your new home, according to Metrobank

Editor’s note: This press release is sponsored by Metrobank and was produced by BrandRap, the sales and marketing arm of Rappler. No member of the news and editorial team participated in the production of this piece.

Owning a house is undeniably one of life’s most significant milestones. For many, this is a fulfillment of a long-time dream of finally having a family home. Meanwhile for some, owning a property is a form of investment. 

Purchasing a new home requires a fair amount of planning and, crucially, diligent budgeting. Every decision, from the location to the type of house you’re buying poses a significant impact on your daily life, or the resale value of your property if you ever decide to sell it in the future. 

To get started on this exciting journey with confidence, here are just a few items to consider before purchasing a new home:

Location: A crucial first step

The lot you choose is the foundation of your property, so it’s essential to get it right. The perfect home location may look different for different people. Here are things you need to consider when identifying the ideal area for the property you’re purchasing. 

• Accessibility: How close is the property to your workplace, schools, and essential services like hospitals and supermarkets that you and your family would need? 
• Neighborhood and Development: Look into the area’s future. Is there planned infrastructure, such as new roads or commercial developments, that could increase your property’s value over time? Also, assess the community’s overall feel, security, and risk for flooding or other natural disasters. 
• Amenities: Think about the amenities that truly matter to you. Do you need a nearby park, a gym, or a mall? The right amenities can significantly improve your quality of life and the attractiveness of your property to potential buyers.

Getting a house and lot vs. condo

The choice between getting a house and lot or buying a condominium is a common dilemma. While condominiums offer convenience and amenities, building your own home on a lot provides greater freedom and long-term value, especially if you’re planning to have a family.

When you opt for a house and lot, owning the land itself means the value of your property is likely to appreciate over time. However, the initial cost is typically higher, and you are solely responsible for maintenance and repairs.

Meanwhile, condominiums are often more affordable and require less maintenance. They are also usually located in prime urban areas, offering proximity to business districts and lifestyle hubs. 

One thing to consider when purchasing a property is the condo oversupply situation in Manila. The condominium market in Metro Manila has experienced a surplus of units in recent years, and this localized oversupply can be a double-edged sword. This can lead to more flexible payment terms and even discounted prices from developers, which benefits potential buyers. However, condo oversupply in Manila can also impact rental yields and make it harder for owners to resell their unit in a saturated market. 

The other costs of owning a home

Building a house involves more than just the cost of the actual property. Be sure to factor in these additional fees to avoid any surprises:

• Professional Fees: This includes fees for your architect, structural engineer, and other professionals who will help you with the design and construction plans. These fees often range from 6% to 12% of the total construction cost.
• Notarial and Legal Fees: Various documents, such as the Deed of Absolute Sale, will need to be notarized. Notarial fees for a deed of sale are typically 1% to 1.5% of the property’s selling price.
• Permit and Government Fees: You will need a building permit and other clearances before you can start construction. The cost of these permits varies depending on the location and size of your project.
• Taxes: Be prepared for local transfer tax, documentary stamp tax, and real property tax. 

A special holiday gift from Metrobank: Waived fees and low interest on your home loan!

As you navigate your home buying journey, it’s important to find the right partner in financing this big purchase. Metrobank has recently launched its Merry Go Loans promo offering exclusive perks to help make the overall cost of buying a new home more affordable – from waiving fees to low interest rates:

Home loan

Duration for applications: October 16 to December 29

To qualify for the promo, the application must be approved and subsequently booked on or before February 27, 2026

Qualified clients shall enjoy the following offers:

• Waived Fees of up to P100,000.00 for (1) Mortgage Registration Fees; (2) Documentary Stamp Tax (DST); and (3) Notarial Fee.
• Low interest rates

Rate Fixing Period in Years	Promo Rate (p.a.)
3	6.50%
5	6.50%
7	7.00%

Eligibility criteria:

• Applicable to all Home Loan purposes;
• Loan term should be at least five (5) years;
• Loan amount should be at least P1,000,000.00

You can enjoy these perks when you apply for a home loan before December 29. Clients can conveniently apply online through https://www.metrobank.com.ph/application-form or visit the nearest Metrobank branch.

For more information, visit your nearest Metrobank branch or head to http://www.metrobank.com.ph. – Rappler.com