Why Late in the Year is a Great Time to Buy a Home

If you’ve been thinking of buying a new home, you’ve likely already wondered when is the best time of the year to move forward with such an investment– among other considerations aimed at finding the best possible real estate deal.

Fortunately, continued advancement in technology has helped transform the way we do property transactions. Platforms such as Ohmyhome have made it easier than ever to discover deals on properties–no matter where it is in the Philippines or what time of the year it is.

However, considering the timing of homebuying can still prove advantageous, and you might find that the last few months of 2021–or most years, for that matter–is what brings some great value for money. Read on to learn why buying a home within the last few months of this year will be to your advantage, be it from a financial standpoint, being able to get the most out of what you pay for, and, even getting your money back.

13th-month pay

For some, the end of the year means receiving 13th (and sometimes 14th) month-pay and other similar bonuses. More often than not, these are significant amounts, to the tune of at least a month’s worth of salary. While these are commonly spent on holiday expenses, this “extra” income can also serve as a great jumpstart to property investment. Granted, hardly does a month’s worth of salary cover a home’s down payment, much more its full-on price. 

However, a bonus salary or 13th-month pay is often more than enough to cover a few mortgage payments or at least cover most of the expenses associated with buying property such as documentary stamp and transfer taxes, or title registration and notarial fees. Spending your year-end bonus on a property investment is surely a greater use of your extra income instead of another holiday where it seems to just disappear. 


Read: Invest in Real Estate Starting with Your 13th-Month Pay


Lower property prices

While there may not be as many homes for sale listed towards the end of the year, the last three to four months are generally considered a good time to buy because of price reductions. Individual sellers whose properties haven’t yet sold tend to be more motivated as the holidays near and, similarly, larger realtors and developers are aiming to meet or surpass their sales targets–be it at the expense of offering their properties at slightly lower prices.

Granted, it isn’t favorable to literally wait at the last few weeks or final month of the year before buying, as the purchase may take longer to close due to the holiday season. In addition, listings tend to be limited during the later months of the year, and buying at the last minute commonly entails having to work with not as many property options.

Favorable interest rates and terms

According to the Bangko Sentral ng Pilipinas (BSP), home loans granted in early 2021 for all types of new housing units in the Philippines contracted by 32-percent compared to the fourth quarter of 2020. As a result, banks have continued adjusting the terms and other aspects of their housing loans to encourage borrowing, which has been helped by the BSP keeping overnight deposit and lending rates at 1.5% and 2.5%

This alone has made 2021 an ideal time to buy a home despite the pandemic. However, health crisis notwithstanding, lenders also typically offer up various promotions during the final few months, both as a means to, again, meet or surpass their business targets for the year and to compete with the year-end promotions being offered by other lenders. 


Read: Halfway Through, and 2021 Remains a Good Time to Buy a Home


Year-ending promos

In the Philippines, “‘tis the season” as early as September. From a commercial perspective, the early celebration of the season means a multitude of holiday and year-end promos, with homes for sale and real estate financing being no exception. While these “extras” are meant to have you buy or borrow now rather than later, they can work to your advantage too when you find the promo that is right for you.

Homebuying promos can range from waived processing fees, extended payment terms, or even be in the form of discounts or freebies on other things that coincide with your purchase of a home, such as the purchase of brand new appliances or a subscription to internet services. Of course, among the most advantageous is when you can lower what you spend or, in other instances, get some of your money back:

The Ohmyhome Cashback Program

Launching on September 9, 2021, the Ohmyhome Cashback is an unprecedented program in local real estate that will give homebuyers acquiring property through Ohmyhome the opportunity to make back a portion of what you spend on your property purchase.

For more information on the Ohmyhome Cashback Program and updates on its launch, make sure to follow Ohmyhome on Facebook and Instagram and subscribe to Ohmyhome by visiting the website and/or downloading the Ohmyhome app.


Ohmyhome was launched in the Philippines in September 2020, following the company’s establishment of a tech team in the country in 2017. Ohmyhome was originally founded in 2016, and subsequently rose in Singapore as a leading PropTech solution and licensed real estate agency.

Ohmyhome expanded into the Philippines so that Filipino home seekers can have a real estate partner that they can trust to have their best interests at heart and can be relied upon to provide exceptional services throughout the entire property journey.

Featuring thousands of properties across many of the Philippines’ major real estate brands, Ohmyhome differs from other local platforms by going the extra mile and extensively helping buyers narrow down their choices and find the property that best suits their budgets, home needs, and lifestyle preferences.

The company’s Real Estate agents help in the shortlisting of options and provide professional services through the entire purchasing process. These include assistance in property inspections, negotiations, the finalization of the Conditions of Sale, deposit collection, the submission of property documents, as well as providing buyers regular updates. 

Ohmyhome helps Filipinos find their dream homes, all while making sure each real estate transaction is complete and is an efficient and enjoyable experience.

Stay connected with Ohmyhome Philippines by following our official Facebook, Instagram, and LinkedIn accounts. 

The Basics of Growing Wealth Through Home Buying

Buying a home in the Philippines for the first time–or even the second, third, or nth time afterward–can be an overwhelming process. After all, there are so many steps to take, tasks to complete, and requirements to fulfill, and it is understandable why many of us become anxious about the possibility of making an expensive mistake.

Indeed homebuying can be complicated, but it is also one of the most worthwhile purchases you can make, particularly as an investment to earn from both now and in the future. 

To help demystify the process so aspiring homebuyers can get the most out of their purchases, Ohmyhome CEO and Co-Founder Rhonda Wong joined the recently concluded Financial Literacy Summit 2021: Generation Investors to share a few homebuying basics that are helpful to know for both attaining homeownership and building wealth along the way.

Save up for an INVESTMENT property

Among the first tips shared by Rhonda, is how it is beneficial to take on an investment perspective when saving for and eventually buying property. 

As many only really look into home buying when looking for a new place to live, Rhonda shared how this leads to missing the opportunity to earn from rental income and/or property appreciation from investment properties. 

Then, more often than not, homes bought for living-in or ‘own-stay’ are later on sold in favor of an upgrade anyway.

“One of the mistakes that people make is putting all their money on their own home, But what happens when doing this is, usually, most of us don’t buy the most luxurious or biggest home on the very first purchase anyway. Then, when our family grows, we still end up having to buy a new property (to meet our changing needs).”

To invest in property early and successfully, Rhonda drew on her own experience of living with her parents and then renting for some time to save money for investments and recommends keeping things simple at the start of one’s career and independence.

”It may be better to sacrifice at the start and stay in a simpler place while putting aside the savings for an investment property.”


Read: Your Starter Guide for Investing in Homes for Sale


Choose a location based on a property’s purpose

“Location, location, location.” Cliche as it seems, where a property is located is paramount in determining if it is the right home to buy and/or the right investment to make. For Rhonda, answering the question “where should I buy a new home” is determined exactly by the purpose of the property.

“When using the property for an own-stay or to live in, we look at proximity to locations that are important to us. One of the key things that are important to a family that has children is usually where are your children’s schools? You don’t want to live too far away because you want them to be able to travel back and forth safely.”

“You also want to look at where you’re working. So if your work location is quite a distance away, ‘are you taking public transport?’, ‘do you need to be near public transport?’, ‘are you driving?’, ‘which is the best route to your job so that you don’t get stuck in traffic every day?’. These are very important to think about because what we have that is most precious in life is time. So if you can save your time by being in a location that allows your children to get to school and you and/or your spouse to get to work conveniently, then that is a good place to start.”

“If you’re looking at a home from an investment standpoint, first start with how much of a monthly payment you can make, and then narrow it down to the properties that can fit within that budget. Then from there choose (which properties are in) the location which is both easy to rent out and also has high potential in capital appreciation.”

Buy property even when continuing to rent

Another question often asked by homeseekers is whether it is better to buy or rent a home. Common sense dictates that it is better to pay for something you’ll own as opposed to paying for something you never will, so homeownership is often regarded as the better choice. 

Understandably property prices aren’t always the most favorable in the places we want to live, forcing us to rent. According to Rhonda, renting in one place can be an effective way to save and invest in a home in another place.

When I was younger I rented for a long time because I wanted to keep all of my earnings and savings for investments. The reason is that one of the biggest chunks of wealth that you can build is really from property appreciation, where if you buy at say Php10 million today you hope to sell at P12-13 million in the future. 

That is the fastest way to make more wealth, compared to only saving from your monthly income. So, even if you continue to rent, if your rent is affordable (and less) than the rental income you can get from an investment property, then I suggest that you invest your earnings in a property even if you won’t live in it.

She further elaborated, however, that if one can buy a place that is in the place one also wants to live, then buying is also the best option as it will provide an investment and stop the need to pay rent.

“If you can only have one property and you’re considering that instead of renting you’ll use the money you’re paying for rent to buy a property, that still makes sense. Why pay rent for a property that is not yours when you can turn that money into property that is yours.”


Download: Best Properties to Buy at Different Budgets


Indeed, there is more to home buying than merely buying a place to live. Property is surely among the largest purchases most of us can make, and it stands to reason that we gather as much real estate information we can to make sure that it serves as an investment that is most beneficial to us. 

To learn more about growing wealth through the basics of home buying and other real estate-related advice and information, visit the Ohmyhome website or follow Ohmyhome on Facebook and Instagram for more tips, and supplemental content and schedules for upcoming talks and summits from Ohmyhome CEO Co-Founder Rhonda Wong and the rest of the Ohmyhome team.

For easy access to the latest home for sale listings across the Philippines or to conveniently connect with trusted real estate professionals, download the Ohmyhome app today.


Ohmyhome was launched in the Philippines in September 2020, following the company’s establishment of a tech team in the country in 2017. Ohmyhome was originally founded in 2016, and subsequently rose in Singapore as a leading PropTech solution and licensed real estate agency.

Ohmyhome expanded into the Philippines so that Filipino home seekers can have a real estate partner that they can trust to have their best interests at heart and can be relied upon to provide exceptional services throughout the entire property journey.

Featuring thousands of properties across many of the Philippines’ major real estate brands, Ohmyhome differs from other local platforms by going the extra mile and extensively helping buyers narrow down their choices and find the property that best suits their budgets, home needs, and lifestyle preferences.

The company’s Real Estate agents help in the shortlisting of options and provide professional services through the entire purchasing process. These include assistance in property inspections, negotiations, the finalization of the Conditions of Sale, deposit collection, the submission of property documents, as well as providing buyers regular updates. 

Ohmyhome helps Filipinos find their dream homes, all while making sure each real estate transaction is complete and is an efficient and enjoyable experience.

Stay connected with Ohmyhome Philippines by following our official Facebook, Instagram, and LinkedIn accounts. 

Bicol Express: An Island To Call Home

As the largest island in the Philippine archipelago, Bicol is all about living large. Its abundance of volcanoes, mountains, cliffs, and white-sand beaches has attracted plenty of thrill-seekers for decades. But aside from being an outdoorsman’s paradise, it has quietly had one of the most progressive economies in the country in each of the past three years. As the complications brought about by the pandemic start to waver, Bicol is poised to attract more real estate investors and homebuyers in the near future.

Bicol’s four provinces of Albay, Camarines Norte, Camarines Sur, and Sorsogon, as well as its two island provinces of Catanduanes and Masbate, are each spoiled with picturesque landscapes and beautiful blue waters. Yes, the tourism industry has been instrumental in Bicol’s popularity over the years, but it is its infrastructure development, smart social services, and economic stability that have sustained its success.

Home seekers should pay close attention to Bicol in the post-pandemic era, considering that the region has adopted a regional recovery program that will only increase its local socio-economic development. More potential investment opportunities are lurking just around the corner.

Tropical Living at Its Finest

With an average temperature of  27°C to 30°C all year round, Bicolano life is the definition of island living.

Surfers worldwide have raved about Catanduanes and Daet for quite some time now. Catanduanes Island also possesses some pretty great waterfalls and lagoons. Some popular activities enjoyed by residents and tourists alike include whale shark spotting, island-hopping, and snorkeling in Donsol, Sorsogon and areas around Caramoan and its surrounding islands.

Mayon Volcano in Albay is a cultural pillar that has been synonymous with Bicolano life, too. It is one of the many active volcanoes in the Bicol Volcanic Arc. There is a wide range of hot springs and crater lakes, as well.

Of course, one of Bicol’s defining characteristics is its spicy food. Chili pepper plantations, a Mexican influence, cover a lot of ground in the area. Dishes like Bicol Express, Laing, and other local specialties are staples, as well.

One of the Fastest-Growing Economies in the Philippines

Back in 2018, the economy of Bicol was recognized as the fastest-growing economy among the 17 regions in the nation. Subsidized government education programs, Bicol’s mining sector, and public infrastructure buildup all contributed to its rapid growth, as well. The following year, it ranked first yet again. While the region was also hit by the effects of COVID-19, Bicol still ranked 10th in terms of economic performance in 2020.

A large segment of the Bicol region’s economy relies on agriculture, fisheries, and its local crops. These include coconuts, abaca, coffee, and more. There are also around 13 major fishing grounds that supply local markets that extend all the way to Metro Manila. Construction, storage, and transportation have also been key to its sustained growth.  

As the economy reopens and as the region rebounds from its economic losses, Bicol remains in a good position to reclaim some of its old standing.

Investing in a Property in Bicol

The cities of Naga and Legazpi in Albay are two of its most urbanized areas in all of Bicol, together with the municipalities of Camaligan in Camarines Sur and Daet in Camarines Norte.

Developments like Camella Provence and Lumina Legazpi are ideal communities for family life. These projects are situated near leading malls like SM Legazpi and schools like the University of Santo Tomas-Legazpi and Bicol University. Home seekers are looking at a price range between P1.6 million and P5.6 million in these locations, depending on the model.

In addition, Bria Iriga, Bria Naga, and Lessandra Pili offer great, low-cost housing options in the Camarines Sur area. These quality developments provide families with safe and convenient living spaces at affordable prices. Meanwhile, Lumina Camarines Norte and Lessandra Sorsogon offer generous house and lot packages, too. These two are also located nearby major commercial establishments and roadways.

Ultimately, investing in Bicol means investing in a tropical lifestyle and economic efficiency. With its Rehabilitation and Recovery Plan set in place, Bicol looks forward to welcoming back tourists and potential investors alike. And it will be more than happy to welcome new residents, as well.

To learn more about your affordable home and home loan options, and receive expert assistance throughout the entire buying process, connect with an Ohmyhome agent today.

Want to access the best and latest property listings in the Philippines? Visit Ohmyhome.com or download the Ohmyhome app to view homes for sale or rent, or post your own, conveniently from almost anywhere.


Ohmyhome was launched in the Philippines in September 2020, following the company’s establishment of a tech team in the country in 2017. Ohmyhome was originally founded in 2016, and subsequently rose in Singapore as a leading PropTech solution and licensed real estate agency.

Ohmyhome expanded into the Philippines so that Filipino home seekers can have a real estate partner that they can trust to have their best interests at heart and can be relied upon to provide exceptional services throughout the entire property journey. 

Featuring thousands of properties across many of the Philippines’ major real estate brands, Ohmyhome differs from other local platforms by going the extra mile and extensively helping buyers narrow down the choices and find the property that best suits their budgets, home needs, and lifestyle preferences.

The company’s Real Estate Agents not only help in the shortlisting of options but also provide professional services through the entire purchasing process. These include assistance in property inspections, negotiations, the finalization of the Conditions of Sale, deposit collection, the submission of property documents, as well as providing buyers regular updates.

Ohmyhome helps Filipinos find their dream homes, all while making sure each real estate transaction is complete and is an efficient and enjoyable experience.

Stay connected with Ohmyhome Philippines by following our official Facebook, Instagram, and LinkedIn accounts.

Iloilo City Living: a Leading Economic and Cultural Hub in Western Visayas

As one of the most urbanized cities in all of the Visayas, Iloilo City has garnered the attention of expats, investors, and even residents in the Metro for years now. It’s more than just a tourist destination these days. The city has become an attractive location for homebuyers and a great place to raise a family, too.

Of course, the new Iloilo Business Park (IBP) has added to its appeal, as well. Recently, the city even bagged the “ASEAN Clean Tourist City Award (2020–2022)” for being one of the cleanest cities in all of the region. All these are pretty good indicators of the city’s development.

Iloilo’s innovative public policies, breathable spaces, and an influx of new infrastructure projects have also contributed immensely to its economic growth and popularity over the years. Investments and local government efficiency have also kept it afloat amidst the pandemic.

Local Heritage and Identity

Iloilo City was founded in 1566 upon the arrival of the Spanish settlement. It’s the second Spanish colonial center, trailing only Cebu and the last capital of the Spanish Empire in Asia and the Pacific. As one of the Royal Spanish Cities in the Philippines, it got a head start in terms of local economic development and opportunity.

In modern times, the entire province of Iloilo itself still possesses many strong Spanish influences in terms of its local dialects and architecture. Heritage houses like Molo Mansion and Casa Mariquit, characterized by neoclassical, art deco, and colonial elements, are tourist hotspots today. 

Museums such as the Iloilo Museum of Contemporary Art and the National Museum Western Visayas are also some of the best museums in the country.

The city happens to be an academic center in the Visayas, too. Institutions like West Visayas State University, Central Philippine University, and the University of the Philippines Visayas have consistently attracted both foreign and local students and researchers alike.

Hiligaynon is primarily spoken throughout the area, so that might be something home seekers should learn before settling in.

A Free, Breezy, and Easygoing Lifestyle

Traveling to and from the city goes through the Iloilo International Airport, which even offers direct flights to Singapore and Hong Kong.

World-famous beaches like Guimaras, Boracay, and the Gigantes Islands are easily accessible within the area, too. Iloilo City’s transportation system mostly consists of jeepneys, taxis, tricycles, and mini-buses. 

The area also has five major Major Integrated Transport Terminals within the city’s perimeter. In 2019, the Land Transportation Franchising and Regulatory Board said that a new Premium Point-to-Point Bus Service in the city would be coming soon, with direct routes to airports in Kalibo and Boracay.

Iloilo City is also known for being the “Bicycling capital of the Philippines.” Its roadways and urban planning have shifted towards walkable spaces and open lanes. In addition, the Dutch government also lent support for the city’s cycling initiatives. The fresh air, tropical breeze, and scenic views definitely help, too!

Economic Revitalization

Iloilo City has certainly evolved from relying on fishing and agriculture alone. Its service-based economy, infrastructure investments, and business tourism have all helped facilitate its growth, as well. 

Though its tourism and service industry was hit badly by the effects of the pandemic, real estate development and construction projects, particularly by Megaworld Corp., persisted throughout the lockdown. 

This is in spite of the fact that the local Gross Domestic Regional Product of Western Visayas dropped by 9.7% in 2020. The interest for more BPO investors and project developers within the IBP is still relatively high. The city has seen the worst of the crisis and 2021 has brought about better opportunities for Iloilo.

In 2020, the Cities and Municipalities Competitiveness Index still ranked Iloilo City 13th out of 33 highly urbanized cities in terms of local economy size, 3rd in regards to the cost of living, and 7th in the cost of doing business. 

The city was also praised for having a strong capacity for health services. It was also ranked 17th in its increase in employment, despite having had 11,534 workers affected by the closure of establishments in the area. 

Investing in a Property in Iloilo

It cannot be emphasized enough how affordable a house and lot or condominium in or just outside Iloilo City can be. Housing developments like Camella Savannah and Amaia Scapes Iloilo each offer investors and homebuyers the opportunity to own a property in a first-class city for just P2 million to P3 million. 

Condominiums and lots in close proximity to the IBP can go for great rates, too, which can serve as homes for young professionals or can even be converted into an air bed and breakfast for tourists.

With its significantly lower cost of living and local economic progress that rivals only Manila and Cebu, Iloilo City relies on its local heritage, tourism, and investment opportunities to supplement its continued success and development. More investors have taken notice of its potential and progress. You should, too.

Free Consultation

Are you interested in what Ohmyhome’s sales agents can do for you? Get in touch with an Ohmyhome agent today to start your property journey with a free property consultation. We offer services for buyers and renters, as well as landlords and tenants.

For more information, visit Ohmyhome.com for the best and latest homes for sale in the Philippines. Download the official Ohmyhome app today for the latest property listings and more. The app is available on Google Play and the App Store.


Ohmyhome was launched in the Philippines in September 2020, following the company’s establishment of a tech team in the country in 2017. Ohmyhome was originally founded in 2016, and subsequently rose in Singapore as a leading PropTech solution and licensed real estate agency.

Ohmyhome expanded into the Philippines so that Filipino home seekers can have a real estate partner that they can trust to have their best interests at heart and can be relied upon to provide exceptional services throughout the entire property journey.

Featuring thousands of properties across many of the Philippines’ major real estate brands, Ohmyhome differs from other local platforms by going the extra mile and extensively helping buyers narrow down the choices and find the property that best suits their budgets, home needs, and lifestyle preferences.

The company’s Real Estate Agents not only help in the shortlisting of options but also provide professional services through the entire purchasing process. These include assistance in property inspections, negotiations, the finalization of the Conditions of Sale, deposit collection, the submission of property documents, as well as providing buyers regular updates.

Ohmyhome helps Filipinos find their dream homes, all while making sure each real estate transaction is complete and is an efficient and enjoyable experience.