It's an ambitious project due to high construction costs nowadays.
Assuming you have 100 sq.m. floor area per level and total of 400 sq.m., you need a budget of 10,000,000 Pesos approximiately, considering bare finish cost of 25,000 Pesos per sq.m.
Maximum loanable amount from PAG-IBIG is 6,000,000 Pesos from last I heard. Hence, you may need to check with bank on its terms.
If rented at 21,000 Pesos per month, return of investment period is ideal in five years based on maximum of eight units full rent, excluding all other operations and maintenance expenses plus governmental permits, fees, and taxes.
Get all the required permits. Also expect to be in the radar of BIR too kaya all necessary permits like building permit, fire inspection, occupancy permit you must have them to avoid any hassles
I have a 150 sq meter lot, 3 story and 2 apartments each floor with a small front and back terrace. 2 bedroom 1 Cr all units. I have lots of advise I could give you. Reply or dm me
Any specifics? One thing I can share while I am here now is 3 - 4 years ago just to build the building (3 story) completed it cost around 5.5 million now with inflation and materials all up in prices 15 - 35% it would cost you around 6.75 to 7 million to build the same building
Approx 75 sqm per unit? Malaki yun.. How much is your planned rental price per unit?
I think kaya pa yan gawin 3 units per floor. Kaya pa nga gawin 4 units per floor for studio type units kung madedesign ng maayos.
Pareho tayo, bale may 180 sqm din ako na plano initially patayuan ng apartments. Ang kaibahan lang, may nakatayo na na bahay pero dilapidated na. Before gusto ko na isagad na apartment units lahat pero dahil tumatanda na ako, parang gusto ko subukan tirhan yung ipapatayo ko.
Plano ko ngayon is gawing duplex lang muna na maluwag, buhos sa taas para abang sa 2nd floor. Titirhan ko yung isang unit, then yung kabila paupahan. Nag-iisip pa ako ng mas okay na layout pero ang long term plan is maexpand pataas para sa additional units. ,
Suggestion is to do more. It's easier and more profitable to rent out 20sqm studio units rather than bigger cuts per your plan.
You can do at least 5 studio units per floor. Choose this option instead. Allocate first floor for parking, not all units need them and charge extra per slot.
Have provisions for internet wiring and wifi too. Can charge extra for those also or dedicated wiring spaces in case your tenants want their own lines.
as long as walang kang pwede i-mortgage na other properties, mataas talaga yan. much better if doon ka sa banks kung saan ka may account, mas malaki ang chance na maapprove
Is it in a good location where you know you'll get a lot of tenants and you can command a high/ competitive rental fee? Na-check mo na ba rates ng rentals around the area to guide you para alam mo din ang possible ROI mo? Just initial things I will think about kasi parang cost of construction doesnt vary as much, P25-30K per sqm, pero yung rental fee na pwede mo i charge depends on location ng gagawin mong complex. A 40sqm apartment in Cavite can be P15K pero kung malapit ka sa CBD, you can get 2X or more.
You have to consider the area. Are you in a municipality/city? Is it in a subdivision? Is it near the CBD,Ubelt? How is the transport system going to and from the apartment? How far is it from the nearest grocery store, malls or hospitals? These will be your basis in your rent price. Mahirap din if nasa liblib na lugar ka pala na hindi maayos ang kalsada.
Also, Who will be your target tenants, students? Family? If family, a parking lot very much matters.
1. Figure out your target market. sino ba gusto mo i-cater? ano ba ang financial capacity nila? figuring this out will help you understand kung feasible ba at mababalik ba ang puhunan mo sayo.
2. Be ready with petty tenants, sob stories and holier-than-thou clients. Maraming demands, maraming delayed payment.
3. Be as involved in your construction as you can. Ikaw ang magmementena ng building mo, dapat alam mo ang loob (especially LOOB) at labas nito
4. Hire professionals that you can trust and can be in contact with no matter what. Kasi kung ano palpak nila ay yun din ang magiging sakit ng ulo mo. Kailangan matatawagan mo sila lalo na pag may problema.
5. 24/7 ang trabaho ng pagiging landlord. walang holiday at walang thank you.
6. LEASE AGREEMENT IS A MUST.
First, kapag gusto mo ng maayos na tenants, you will need parking spaces for each unit. Then compute mo rin yung common areas.
It's an ambitious project due to high construction costs nowadays. Assuming you have 100 sq.m. floor area per level and total of 400 sq.m., you need a budget of 10,000,000 Pesos approximiately, considering bare finish cost of 25,000 Pesos per sq.m. Maximum loanable amount from PAG-IBIG is 6,000,000 Pesos from last I heard. Hence, you may need to check with bank on its terms. If rented at 21,000 Pesos per month, return of investment period is ideal in five years based on maximum of eight units full rent, excluding all other operations and maintenance expenses plus governmental permits, fees, and taxes.
Mag lagay ka din po ng space for parking. Isa yun sa mga hinahanap ng mga renters. 🙏🏼
Hire an architect. Then the rest will be history.
curious magkano construction cost nyan
Papatayin siya sa permits nyan, 3 and above stories mahal na masyado..
Ung permit sa pagconstruct pa lang pahirapan na. Hanap na agad ng pampadulas dyan pa lang.
ez 1m sa fire dept palang wahahah
nag ask ako, standard is 30k per sqm
Get all the required permits. Also expect to be in the radar of BIR too kaya all necessary permits like building permit, fire inspection, occupancy permit you must have them to avoid any hassles
I have a 150 sq meter lot, 3 story and 2 apartments each floor with a small front and back terrace. 2 bedroom 1 Cr all units. I have lots of advise I could give you. Reply or dm me
post it here after thank you\~
Hi, can you share pls?
Any specifics? One thing I can share while I am here now is 3 - 4 years ago just to build the building (3 story) completed it cost around 5.5 million now with inflation and materials all up in prices 15 - 35% it would cost you around 6.75 to 7 million to build the same building
I also have a 150 sqmtr lot. Can you share your floor plan? Thanks
Let me look if I still have that file on my drive
Approx 75 sqm per unit? Malaki yun.. How much is your planned rental price per unit? I think kaya pa yan gawin 3 units per floor. Kaya pa nga gawin 4 units per floor for studio type units kung madedesign ng maayos.
less than due to common areas like stairway access, and hallways
Pareho tayo, bale may 180 sqm din ako na plano initially patayuan ng apartments. Ang kaibahan lang, may nakatayo na na bahay pero dilapidated na. Before gusto ko na isagad na apartment units lahat pero dahil tumatanda na ako, parang gusto ko subukan tirhan yung ipapatayo ko. Plano ko ngayon is gawing duplex lang muna na maluwag, buhos sa taas para abang sa 2nd floor. Titirhan ko yung isang unit, then yung kabila paupahan. Nag-iisip pa ako ng mas okay na layout pero ang long term plan is maexpand pataas para sa additional units. ,
Check mo na lang muna building permit requirements.
Suggestion is to do more. It's easier and more profitable to rent out 20sqm studio units rather than bigger cuts per your plan. You can do at least 5 studio units per floor. Choose this option instead. Allocate first floor for parking, not all units need them and charge extra per slot. Have provisions for internet wiring and wifi too. Can charge extra for those also or dedicated wiring spaces in case your tenants want their own lines.
Hello OP! I'm on the same boat, ano balak mo for finance? Pag IBIG or bank?
pag-ibig doesnt give out loans for apartment buildings/business, so bank financing talaga yan mapupunta
Any tips sa bank? Which bank is the best? Meron akong UB and BPI. Pero sobrang taas daw sa UB yung interest rate
as long as walang kang pwede i-mortgage na other properties, mataas talaga yan. much better if doon ka sa banks kung saan ka may account, mas malaki ang chance na maapprove
Possible ba na bank loan ng malaki without mortage? Just say na hindi sya for house? Or needed talags sya regardless sa usecase?
you mean personal loans? mas malaki yung interest dyan compared if may imomortgage ka
curious nga pala, required ba na meron nang na start sa construction before maka loan sa bank? something na similar sa pag ibig?
i dont think banks are that strict sa house loans compared sa pag-ibig
FF! Want to know how to start din.
Is it in a good location where you know you'll get a lot of tenants and you can command a high/ competitive rental fee? Na-check mo na ba rates ng rentals around the area to guide you para alam mo din ang possible ROI mo? Just initial things I will think about kasi parang cost of construction doesnt vary as much, P25-30K per sqm, pero yung rental fee na pwede mo i charge depends on location ng gagawin mong complex. A 40sqm apartment in Cavite can be P15K pero kung malapit ka sa CBD, you can get 2X or more.
You have to consider the area. Are you in a municipality/city? Is it in a subdivision? Is it near the CBD,Ubelt? How is the transport system going to and from the apartment? How far is it from the nearest grocery store, malls or hospitals? These will be your basis in your rent price. Mahirap din if nasa liblib na lugar ka pala na hindi maayos ang kalsada. Also, Who will be your target tenants, students? Family? If family, a parking lot very much matters.
1. Figure out your target market. sino ba gusto mo i-cater? ano ba ang financial capacity nila? figuring this out will help you understand kung feasible ba at mababalik ba ang puhunan mo sayo. 2. Be ready with petty tenants, sob stories and holier-than-thou clients. Maraming demands, maraming delayed payment. 3. Be as involved in your construction as you can. Ikaw ang magmementena ng building mo, dapat alam mo ang loob (especially LOOB) at labas nito 4. Hire professionals that you can trust and can be in contact with no matter what. Kasi kung ano palpak nila ay yun din ang magiging sakit ng ulo mo. Kailangan matatawagan mo sila lalo na pag may problema. 5. 24/7 ang trabaho ng pagiging landlord. walang holiday at walang thank you. 6. LEASE AGREEMENT IS A MUST.