To some these are modern masterpieces of white slabs and geometric shapes, others dream of idyllic Mediterranean villas with courtyards, many ponder on the allure of a low maintenance condominium unit, while a select few prefer the serenity of a two-storey dwelling in a vibrant community.

Though each dream home is different, you would probably agree that attaining the house of your dreams is often a struggle in cooperation, and definitely a great financial hurdle. Because of these difficulties, it takes a couple a few years into their marriage before they start working towards a home they could really call their own, preferring to live either in their ancestral house or in a rented condo unit or townhouse.

The Right Fit

What if there is a financial program that would give you the flexibility and freedom to choose your payment terms? One where you can choose from a 0%-20% down payment and amortization payable from 5 years to 25 years with fixed interest rates throughout the entire stretch? Well, dream no more because Community Innovations, the subsidiary of Ayala Land that focuses on urban achievers with fast-paced and modern lifestyles, has come up with a financing program that can put a roof over your heads without breaking the bank. Community Innovations offers cutting-edge and pioneering concepts in urban and community living in its developments such as The Columns Legazpi Village that is set house the largest gym ever in a condominium development, Two Serendra in Bonifacio Global City with its laid-back 65 percent greenery and open spaces, and the best selling Verdana Homes in Bacoor and Mamplasan which are ideal communities for young families.

This very exciting program is called Homestarter, a financing series that gives you the option of choosing between three payment schemes to suit your lifestyle. What’s interesting about the series is that it offers a complete package of financing options, unprecedented payment terms, the convenience of dealing with just one financing institution, and long-term peace of mind from a fixed amortization rate for the entire duration of the term. For the couple who is ready and able, there’s the Homestarter Swift which features quick and standard paying terms, the Homestarter Flex for couples who need customized terms, and Homestarter Stretch for couples who require long term payment schemes up to 25 years. Homestarter stretch offers a reduced down payment of 10% (and within a limited period, until 0%) down payment, with very low monthly amortization rates that are fixed throughout the term. Buyers are guaranteed that the payments agreed upon will stay the same no matter what happens to the economy, eliminating the need for the balloon payment that homebuyers often pay within five years of application.

With the mechanism and the opportunity in place, and with that never waning desire for a home, what you need now is to look within yourselves to see if you are both ready for this kind of investment. The low amortization, long duration of payment terms and zero down payment still won’t take away the fact that buying a home is a long-term commitment that would require a lot of thinking over. According to Mr. Rex Mendoza of Ayala Land, to be safe side financially, the monthly amortization should be around 50-60 percent of the combined income of the couple. This rule of thumb could also help you in determining which payment scheme to consider. For example, a 30-33sqm unit in The Columns Legazpi Village would cost around 2.3M, and if you choose the 10 percent down payment for five years, you have to shell out at least 43,000 a month, and at least 90,000 in combined income; while a 15 year term at 15% downpayment is around 22,400 that would be deducted from a combined income of 45,000.

However, Mr. Mendoza also stresses that the financial aspect is by no means the only factor in the purchase. Perhaps the more important consideration is the sense of responsibility that a couple should possess in their choice of home. They must not only have the mindset of living independently, away from the comforts of their ancestral home, but must also be ready to share part of the load – whether it is taking out the garbage or sacrificing the weekly badminton sessions to save for the monthly amortization.

If you think you’re finally ready to commit, having discussed the matter carefully as a couple, and having consulted your financial advisor and pretty much everyone else on the matter – the next best thing to do is to call your nearest Community Innovations property specialist. The specialist will help you reserve a unit and apply for financing, and will help you find the financing scheme that will most suit your needs and lifestyle. It’s really that easy.

In the end, making the decision on where you will live is perhaps one of the most important decisions for soon-to-wed or a married couple. As part of this is the big question on whether or not you should invest immediately in a big-ticket item such as a lot or a condominium unit. It is not unattainable, and is readily possible for the couple that chases after their dream of having a house you can call your own.

For more information regarding the Ayala Land Homestarter Financing Program and Community Innovaitons, visit http://www.communityinnovations.com.ph.