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Tips in purchasing pre-owned homes

PSBank, through its “Good to Know” campaign, helps you spot a gem among wide choices of pre-owned houses with these tips.

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A property seeker is always hesitant when it comes to buying second-hand homes. This is because such properties could eventually cost you a fortune in renovations if you are not cautious.  

Spare yourself from possible buyer’s remorse. PSBank, through its “Good to Know” campaign, helps you spot a gem among wide choices of pre-owned houses with these tips:

Know where to look.  The best places to find pre-owned real estate properties for sale are banks and local government institutions such as the Home Development Mutual Fund or PAG-IBIG.  Check out their website and you’ll find the best property deals.  There are also property auctions that these institutions organize.  Some properties not normally listed in their websites are being auctioned here. 

Schedule a visit or inspection.  Determine the real condition of the house yourself by asking a professional inspector for help.  Check if the basic structure, floor plan and infrastructure remain sturdy and durable. Ensure that there’s electrical and plumbing system installed, rooms are well-proportioned and there are no bad cracks or serious leaks. A great buy would be one with no major fixes and you’ll be able to move in to your new home soon.

Consider the location. The location is just as important as the house itself. If it is located within a good school system, a nearby transportation, market or grocery, then finding a home priced to accommodate the necessary updates could be a good deal.

Verify documents. Check the title and latest property tax receipt. The title will not only tell you how old the property is but it will also let you know if the property had a chain of previous owners. 

Check the market value of the property.  To ensure that you will not be paying more than you should, go through the current price trends and get an estimate or seek an expert to help you evaluate the second hand property against similar properties in the area.

Buying an excellent pre-owned property or a second-hand home entails lots of patience and due diligence. However, getting it for a bargain price should be more than enough motivation and be able to convince you that what you purchased is more than what you paid for.  You really just need to know where to look.

PSBank is currently offering significant discount on its already low-priced pre-owned real estate properties for sale.

Buyers looking for quality and affordable pre-owned condominium units, houses and/or lots will enjoy 20% to 25% discount on selected properties when they purchase from December 4, 2018 to March 4, 2019.

Aside from this great deal, you are assured of “clean” pre-owned properties for sale.  This means that each property in PSBank’s list of Real Estate Properties for Sale has a registered title and a tax declaration consolidated under the Bank’s name.  Plus, all properties are free from any legal issues and are already in the possession of the Bank.

To avail of the promo, you simply need to submit a completely filled-out Offer to Buy form and Buyer’s Information Sheet to PSBank Asset Sales Department, at any nearest PSBank branch, or via the Bank’s accredited brokers.  You also have the option to make their purchase in cash or by applying for a PSBank Home Loan with Prime Rebate.

PSBank Home Loan with Prime Rebate offers low interest rates, convenient payment modes, and flexible payment terms.  Applicants will also get a credit decision within five banking days or less via SMS.  Borrowers can also save money by paying early or before the due date or by paying more than their monthly loan amortization.  PSBank Home Loan has the Prime Rebate feature allowing home loan clients to earn rebates in the form of “interest discount” on any advance or excess payments made on the loan. Over time, clients could use the rebates to lower the loan principal, shorten the loan term, or even both.

Check out the list of properties and download the forms at www.psbank.coml.ph/propertiesforsale

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Home Care

How to check for bed bugs

Following these tips to check for the pesky insects while traveling and back at home.

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Bedbugs can make you itch just by thinking about them. These tiny, reddish-brown insects that feed on blood are notorious for infiltrating hotel rooms and luggage, hitchhiking their way back to a new home virtually undetected.

“Understanding what to be on the lookout for when checking for bedbugs is key,” said Danilo Del Campo, MD, FAAD, a board-certified dermatologist in Chicago. “If you’re able to catch the infestation early enough you can avoid bringing a problem home, which can save a lot of frustration. However, these insects are tiny and that’s not always possible.”

Although bedbug bites are not usually dangerous, bedbugs can come home with you, infest your home, and cause a great deal of discomfort and anxiety. If bedbugs are present in your home, you will likely find bites on your body. These bites sometimes turn into itchy, red or purple welts and are often found in zigzag clusters of 3 to 5 bites.

To find bedbugs before they find you, Dr. Del Campo and the AAD recommend following these tips to check for the pesky insects while traveling and back at home:

1. Store your luggage. 

When you arrive at your lodging, temporarily place your luggage in a tiled area, like the bathroom, while you inspect your room. There are fewer spots for bedbugs to hide in bathrooms, so you can check your room without worry.

2. Check your furniture. 

Bedbugs often hide in upholstered areas. Carefully inspect your bedding, mattress, headboard, and any fabric-covered furniture for:

  • Rusty or reddish specks of blood.
  • Tiny, blackish dots that look like dots made by a marker—these may be bedbug feces.
  • Whitish, oval bedbug eggs the size of apple seeds.
  • Shell-like bedbug exoskeletons.
  • Live bedbugs.

3. Check your room. 

Make sure to check the seams of fabric, in dressers, behind wall hangings or wallpaper, in corners, and in between cushions. If a credit card could fit in a crack, a bedbug could fit, too—they are that small. 

  • After you check your room, you can bring your luggage in.
  • Place your bags on a luggage rack away from the wall.
  • If you find signs of bedbugs, request a new room.

4. Check your luggage when you get home. 

After your trip, look at your belongings before unpacking to make sure no bedbugs came home with you.

  • Use a flashlight to check the contents of your bags, including the seams of your clothing—look closely at your luggage to make sure no bedbugs are hiding inside.
  • If you find signs of bedbugs in your luggage, wash your clothes on high heat and use a hand steamer to clean your luggage.

If you notice any physical signs of bedbugs on your body or experience blistering, a skin infection (bites feel tender or ooze discharge, such as pus), or an allergic reaction (red or purple swollen skin or hives), make an appointment with a board-certified dermatologist.

You’ll rarely see bedbugs due to their small size, so many people mistake their bites for mosquitoes, fleas, spiders, or common skin conditions such as a rash or chickenpox.

“Unfortunately, bedbug bites can look similar to other insect bites,” said Dr. Del Campo. “A dermatologist will be able to help determine the cause of your bites and symptoms.”

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Home Care

7 Ways to reduce home energy costs

To help dial down your energy costs, consider these tips.

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When building your budget, utility bills – especially the electric bill – are likely one of your largest monthly expenditures. One of the biggest culprits: home heating and cooling, which account for more than half of the average household’s annual energy consumption, according to estimates from the Energy Information Administration.

In fact, 83% of homeowners are concerned about the impact of energy bills on their household budgets, according to a survey conducted by Mitsubishi Electric Trane HVAC US (METUS), with 54% saying it cost “somewhat more” or “much more” to heat their homes this winter compared to last year.

To help dial down your energy costs, consider these tips from the heating and cooling experts at METUS.

Adjust the Temperature

While you’re sleeping or away from home, adjust your thermostat up 5-10 F in the summer or down 5-10 F in the winter, which can help lower annual heating and cooling costs if done consistently. A smart thermostat can monitor your energy use and behaviors then automatically adjust to make your home more energy efficient.

Look for Incentives and Rebates

Qualified homeowners may be eligible to save money on qualified home energy improvement projects. The Inflation Reduction Act of 2022 (IRA) offers tax credits and rebates, including a credit of 30% (up to $2,000) for qualifying heat pump installation, an energy-efficient option to replace fossil fuel-burning furnaces. Other incentives under the IRA include offsetting costs of electrical panel upgrades and rebates for homes with energy usage reductions of 20% or more.

Switch to a Heat Pump

Among survey respondents, 54% ranked government incentives like the IRA as one of the top reasons they would consider installing a heat pump to replace a traditional air conditioner. Options like Mitsubishi Electric’s all-climate heat pumps use two units – an exterior heat pump, which replaces your existing air conditioning condenser, and an interior unit installed on your furnace – to deliver cost-effective, eco-efficient, year-round heating and cooling. These smart systems not only improve air conditioning efficiency on hot days, but also determine the best source of heat (gas or electricity) on cold days, so your HVAC system is always running at peak efficiency and comfort.

Have HVAC Systems Serviced Regularly

For best performance and efficiency, regular maintenance of your heating and cooling system is imperative. Keeping outdoor units free of debris and changing air filters are tasks most homeowners can handle on their own but bringing in a professional – usually in the spring and fall – can help ensure your HVAC system and all its components, including electrical and ductwork, are functioning properly.

Improve Your Insulation

Poorly insulated attics, walls, ceilings, floors and crawl spaces can lead to energy waste and increase costs by requiring more energy to heat or cool your home. Because air can escape through these spaces when your HVAC system pushes air through your home, adding insulation can help reduce losses and keep your home more comfortable.

Use Appliances During Non-Peak Hours

Rather than using your oven, stove or clothes dryer from noon-6 p.m., peak time for many electricity providers, consider doing so in the morning or later at night. Using these appliances outside of the peak timeframe, when conventional heating and cooling systems are often running full bore, can help lower energy costs. Some utilities may also offer plans that incentivize limiting energy use during peak hours.

Think Multi-Zone

Consider upgrading to an all-climate, multi-zone heat pump, which can seamlessly connect to multiple indoor units, revolutionizing the way you experience comfort in your home. By eliminating problematic hot and cold spots in your home, this system ensures personalized comfort tailored to individual zones and optimizes energy usage by directing it only to the areas requiring heating or cooling. Replacing an outdated HVAC system with a multi-zone solution can also help achieve cost and energy savings. By efficiently managing temperature in different zones, you can experience improved energy efficiency, resulting in a more sustainable and economical solution for heating and cooling.

Find more solutions for improving your home’s efficiency and increasing energy savings at MitsubishiComfort.com.

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Home Care

3 Tips to buy a new HVAC system for your home

Here are three tips that will help you buy a perfect AC unit and improve your home comfort.

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Choosing the right heating and cooling system for your home can be a tough task. InverterCool Inc. recommends three tips that will help you buy a perfect AC unit and improve your home comfort.

1. Understanding Your HVAC Needs:
– Size and Capacity: Understand how the size of your home and its insulation qualities impact the capacity of the HVAC system you need.
– Energy Efficiency: Learn about energy efficiency ratings like SEER2 and how choosing a high-efficiency system can save you money in the long run.

2. Latest Innovations in HVAC Technology:
– Smart Thermostats: Discover how smart thermostats can automate your home’s climate control, enhancing comfort while optimizing energy use.
– Inverter technology: Explore the benefits of inverter systems that improve efficiency and reduce sounds without compromising performance.
– Fault Detection and Diagnosis: Master how the FDD technology 7/24 detects and diagnoses the system faults automatically and helps to reduce the risk of downtime.

3. What to Look for in a Quality HVAC System:
– Durability: Quality materials and construction mean a longer lifespan for your system.
-Service: A good system installation equals optimal performance. Searching for the HVAC brand or companies who offer products coming with packaged installation and maintenance services.
– Warranty and Support: A solid warranty and reliable customer support are vital before and after purchase. If your AC units qualifies for incentives or the HVAC suppliers provide financial support is also good to reduce the investment burden.

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