Can your 13th Month Pay for a New House and Lot?


The payment of an additional month’s wage throughout the annual year is known as “13th month pay.” Although these are worldwide practices or norms, there are some local variances depending on the country’s or legal jurisdiction’s unique employment rules. In the Philippines, for instance, 13th-month pay is an additional type of salary added to an employee’s legally required yearly (12-month) income. In fact, 13th-month pay, or “thirteenth wage,” as it is known there, originated in the Philippines. It was implemented in order to close the gap between the minimum wage, which hadn’t been raised in a while, and the rising cost of living. It was a big help to many workers to have additional cash to buy their wants and needs before Christmas. Anyone is well within their rights to do so considering how hard they worked to acquire that money. During the Christmas season, having a considerable amount of money immediately available to spend makes it tempting to relax a little or buy luxury things for ourselves, but before that, take a moment to pause and consider where you should spend your 13th month pay before rushing to the mall, checking out your favorite online shopping applications, and buying an expensive thing that is on sale. But one thing we can learn this year is to be more careful with our money and make sure that it is spent on things that will at the very least help us get through an emergency or a crisis. Real estate is probably the safest investment option available when it comes to spending money with a purpose.

Can your 13th Month Pay for a New House and Lot?

Although your 13th month’s pay in full won’t cover the complete cost of a new house and lot, it might be sufficient to pay for the down payment. There are still many advantages of owning a new house and lot that you can enjoy right away, even as you work to fulfill your property loan obligations. Yes, buying a new house and lot typically requires getting a mortgage, effectively increasing the amount you have to pay on a regular basis.

  • When purchasing a home or condo in the pre-selling stage, you’ll probably pay less than you would have if the property had been finished and ready to move into. Enjoy watching the property’s value increase steadily while you pay for it and/or wait for it to be transferred to you.
  • If you invest in a house using your salary bonus that is already constructed and ready for living, you also have the option of leasing it out to generate income from your initial investment and/or to use the rent you collect to pay down your mortgage on a regular basis.
  • Do you find the everyday commute to be a hassle? Use your investment wisely by choosing a residence that is convenient to your workplace, as well as to schools, shopping malls, and medical clinics.

These are only a few advantages of owning a new house and lot, all of which are dependent upon you starting to invest now. Whether you buy now or not, a portion of your income should go toward financing your future property if you want to eventually own one. This year’s 13th-month pay could prove to be a significant step in that direction. In order to complete your purchase of a new house and lot or condominium for sale in the Philippines, you’ll probably need to obtain a housing loan from a bank, another private lender companies, or through Pag-IBIG housing loan. Including your 13th month in the calculation will significantly help reduce the amount you’ll need to borrow, effectively lowering the amount of interest you pay and the amount of monthly payments you make.

What and where to invest in

Even though it is considered “extra income,” a month’s worth of wages is still a large sum. However, it is reasonable if some still believe that it is insufficient to start the process of property ownership.

Expectedly, the best course of action is to look for houses that are reasonably priced while yet offering a lot of value, either financially or in terms of sustainability. Some people might think that “bang-for-your-buck” homes are only available outside of major cities, but they would be wrong because there are many excellent offers on the market right now that are in great locations.

Luckily, BRIA Homes takes pride in creating budget-friendly house and lot packages that are located in beautiful and clean neighbourhoods where people live happy, healthy lives with their families. It is a smart and great choice for workers to invest their 13-month pay.

Many Filipino families and professionals have found it to be the ideal option. From OFWs, or overseas Filipino workers, to business owners and retirees, they all share the dream of owning high-quality, reasonably priced homes. However, is more than just a real estate firm. Each BRIA community is created with the intention of helping the people. Because of this, BRIA has constantly vowed to address the nation’s ongoing housing crisis since its founding. While being governed by its five basic ideals, BRIA also aspires to create thriving and sustainable communities by giving Filipino families their ideal home.

More Filipinos are buying affordably priced, high-quality homes because to Bria’s customer-centric strategy and “murang pabahay” business concept. Whether you live in Luzon, Visayas, or Mindanao, whatever your career and background, you can picture thriving in a Bria homes. With its continuous dedication to long-term growth, Bria develops projects that are safe, well-thought-out, conveniently located, and worthy of being referred to as each Juan’s home and heart. Nothing makes BRIA Homes happier than seeing Filipinos get the keys to their own home and enjoy a happy, comfortable life with the people they care about in a welcoming neighborhood.

Homebuyers who are interested can fully immerse themselves in the 360 Virtual Tours offered by BRIA Homes. For more details and inquires, just visit BRIA Homes website and Like and follow “Bria Homes, Inc.” On Facebook, Instagram, Youtube and Pinterest.

Written by Alfred Alaba