Shelter is one of the basic requirements of human needs. For the ordinary Filipino, owning a house provides a sense of economic security and dignity in society. In the rural areas, particularly agricultural workers, low-income earners and even some families of overseas Filipino workers, owning a house would give them some sort of “pride,” seeing their little hard-earned money invested in something that appreciates in value over time.

However, it is a given fact that owning a house is costly. An average house of about 100 square meters in areas goes for a total contract price of around P5 million, including land. Apart from owning, even some home improvements would also involve certain expenses. Several contractors might quote P20,000 per square meter to include labor and materials from plan to turnover of a house. An average house would cost around P12,000 per square meter using materials of lesser quality.

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