Investing in real estate can be a complicated process. This is especially true for first-timers who would prefer to see the results or the actual end product before investing.
Thanks to the many options that property developers are now offering, real estate investing doesn’t have to be too risky. One such option would be the ready-for-occupancy (RFO) units. As its name implies, RFOs, whether house-and-lot or condominium units, can be readily occupied by its buyers or leased out by its investors. For some discerning buyers, an RFO is seen as a better option as you will get to see and inspect firsthand what you’re investing in.
Consider the following benefits to support the rationale for purchasing an RFO property as an excellent option.
What you see is what you get. Everybody wants to get the most out of their money when they spend it. With completed, livable units, buyers are guaranteed that their purchases are fully developed and ready for turnover. More importantly, you will also have the opportunity to inspect the exact unit you’re planning to buy. There is no need to be concerned about expectations not being met.
Living the life now
Investing is a serious endeavor and a lengthy process. Choosing RFO units takes out the guesswork. Buyers are able to evaluate the workmanship and style of the ready-to-move-in homes, down to the most minute of details. New homeowners will also get to check out the commercial and community environments surrounding the RFOs.
Instant move in time
The ability to move in as soon as feasible is among the most significant benefits that come with buying an RFO home. You are free to move in as soon as all the necessary documentation and criteria have been fulfilled, signed, and filed, and all payments have been made in full. This is an excellent option for families, individuals, and students in a hurry to move in to their new homes.
Readily available amenities
With RFOs, you can also readily enjoy and explore the amenities within the community or your building. These may include a pool, workout facility, co-working spaces, retail establishments, among other features.
Flexible payment systems
Although RFOs are generally more expensive than pre-selling units, some developers offer reasonable discounts and flexible payment plans, such as the well-known “rent-to-own” model. Buyers must only pay a down payment and a monthly rental fee, much like leasing an apartment. Remember though that if the buyer decides not to purchase the property before the end of his leasing agreement, the monthly amount is non-refundable.
Value appreciation
As mentioned, RFO units are often priced higher than their pre-selling counterparts. But that price disparity indicates a healthy real estate market that may continue in the future. RFO purchasers will undoubtedly benefit from the ability to resell their homes for a profit in the future.
RFOs in themed communities
One such developer that offers RFOs whose values may appreciate in the future is Crown Asia, the premium residential arm of Vista Land and Lifescapes Inc. Its themed horizontal and vertical communities in Taguig City, Las Piñas, Cavite, Laguna, and Tagaytay have since provided residences and helped enhance lifestyles, while delivering a solid investment for its buyers.
Among its house and lot properties that offer RFOs include three premium, Italian-inspired neighborhoods in the South. These include the 22-ha Valenza in bustling Sta. Rosa, Laguna, as well as the award-winning 18-ha Ponticelli and 80-ha Citta Italia, which are both located in the promising locale of Bacoor in Cavite. These three upscale developments present safe, conducive communities with spacious RFO house-and-lot properties, each having three to five bedrooms.
Those who prefer high rises can check out its condominium properties offering RFOs ranging from studio to two-bedroom units. These are the flourishing Pine Suites Tagaytay, which has only four units left, and the 2.5-ha Valenza Mansions, the first mid-rise condo development launched in Sta. Rosa Laguna.
Key takeaway
While RFO units may cost slightly higher than other real estate properties, the advantages make them worth it. Guaranteed to comply with local building laws, values that increase over time, and a generally comfortable ambiance, RFO units are the way to go for those who want to have a taste of their dream home ASAP.
The author (www.ianfulgar.com) is one of the premium architects in the Philippines who assists local and international clients in enhancing hotels, condominiums, museums, and commercial and mixed-use township developments with distinctive and forward-thinking design specialties for the real estate industry.
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The article was originally published in Inquirer.NET and written by Ar. John Ian Lee Fulgar.
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