6 Types of Foreclosed Pag-IBIG Properties Available for Bidding
Pag-IBIG housing projects come in different shapes and sizes, depending on the financial power and preferences of buyer-owners. So it’s no wonder the type of home dwellings appear in the list of foreclosed properties up for disposal at scheduled Pag-IBIG auctions.
With a variety of interested parties, from those who are looking to buy their first homes to established entrepreneurs looking to boost their real estate portfolio, listed properties available for bidding also suit a good range of purposes — as a residential dwelling, rental property or short-term leases such as Airbnb.
Let’s take a look at the different types of properties available at Pag-IBIG auctions as foreclosed properties.
House and lot.
Independent and stand-alone, these are more desirable residential units that evoke peace of mind and a greater sense of freedom and security. These include single detached (house built on the middle of the lot), single attached (house built on the side of perimeter boundary)
Foreclosed lot properties offer plenty of opportunities for owners to design and build a house based on the owner’s preference.
Townhouses offer financial incentives to residents who enjoy the feeling of single-family living often at a lower cost and with much less responsibility for maintenance than a single-family home.
One of the biggest perks of condominium ownership is that the individual owners are not directly responsible for performing maintenance on the building, common areas, or grounds.
For folks with investment in mind, duplex units present the enticing the option of owning one unit and leasing the other, helping ease the financial burden of paying off the mortgage.
One of the most affordable units comes in this type of residential unit, so if you’re starting with a young family or working your way into saving for your next investment, this is the right choice.
Pag-IBIG Fund provides a variety of options in its effort to accommodate members with varying housing preferences and economic backgrounds. Although these options are plenty for members to choose from, thorough research and long-term consideration must be put through. That’s because mortgage payments for these housing projects can take up decades to conclude, and a wrong decision would both be costly and waste valuable time.