Central Philippine University Village (CPUV) homeowners: Their economic situation, living condition, perceived benefits and problems associated with owning a house and lot through mortgage program, Aganan, Iloilo, 2006

Abstract

The study evaluates CPUV Homeowners’ economic and living condition, to determine their perceived benefits and problems encountered. Descriptive Statistics like mean, percentages were used to analyze the data generated by questionnaire administration. The respondents were the homeowners of CPUV. Analysis of the data gathered showed that majority of the homeowners social life is restricted at home because few of them belong to any social organization. They have limited economic satisfaction, for instance, only about fifty percent of them can afford to buy new dresses for the family at the end of the month. A good number of them used credit card for their purchases. They buy food from the road side. They perceived they have benefited from owning a house, as a result of being a landlord. Their living condition is better than before. Majority are highly appreciative to CPU for providing this low cost housing to faculty and staff. Their problem is how to make both ends meet as a result of monthly amortization, salary deduction to pay the balance from equity. Some of them suffered from early maintenance of leakages and cracks on the walls due to substandard materials used in the construction of the house.