![]() Purchasing a home may or may not be cheaper than building a home, but is dependent on several factors, including, but not limited to the size of the home, its location, or its proximity to key areas in the Metro. This means that the average Filipino family saves only around Php 52,000 a year. Owning a home in the Philippines is not a small feat, considering that as of 2015, the average income of a Filipino family was around Php 267,000 a year, while their average expenditure was at around Php 215,000. Whether it be with family or friends, a home is a place where one can go back to at the end of the day. Filipinos traditionally consider the home as more than just the physical structure standing on a piece of land, and extends it to the social relationships built and developed by the residents. This latter definition could not be any more accurate, particularly in the Philippine setting. What is home? The Merriam-Webster Dictionary defines this as one’s place of residence or origin, but is it really limited to just that? Another definition describes a home as the social unit formed by a family living together. MRI and other fees and/or charges are NOT included in the computation. This calculator computes the approximate Principal and Interest and the Required Gross Monthly Income only. ![]()
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March 2023
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