Preselling Advantages for Subdivisions and Condominiums
Preselling takes place when a unit of a subdivision or condominium is sold before it is being built. During this period, the site is still plain lot and you will not see any structure built. Most of the time, the project will commence in 6-12months and the units are expected to be finished in 18-24 months. That is the usual target of most developers and the safest for most buyers but these timelines vary though from developer to developer. You do not want to buy under preselling stage a property which is set to be delivered in 5 or 10 years. The risk involved is quite high and the return of investments would take time for you to achieve.
There are certain advantages if you buy during a preselling stage especially if you do not want to occupy the property right away.
First of all, subdivisions and condominiums sold during this stage are at lowered prices. If you also pay a full down payment, you can even get good discounts like 5% of the total contract price. That is good savings that you can use for another investment opportunity for a more diversified portfolio. In investing, it is wise to put your eggs in different baskets (investing in life insurance can be another investment vehicle).
In most cases, when project turn over nears, the prices of the units are already high. Investing in real estate must be a big decision for you but if you are really into it and you believe on the profit the project can give you, then you should not hesitate to start your own real estate investment.
Investing in real estate should be done at the right time especially when you still have the funds to do it. There are some people who have this wait and see attitude and study first how the market performs when it comes to real estate which is good. However, by the time they decide to invest already, prices might already be too high and location could already be too far from where they initially wanted to start their piece of investment. Population is growing and more investors are surely wanting to get prime locations. It is still a race as to who gets first.
Additionally, during preselling, buyers will enjoy a longer term to pay the Home Equity or Downpayment. Home Equity or Downpayment are used interchangeably in the business of real estate. Normally developers give 24 months to pay the Home Equity or Downpayment but some developers are even more generous enough to allow a 36 month - term. When project delivery or turn over is fast approaching, payment term for the Home Equity or Downpayment is already shortened. In effect, buyers will have the burden of paying high monthly amortizations.
Home Equity or Downpayment paid in installment is actually safer for you as a buyer considering that you will have ample time to save up for it. Buyers also have the option to pay more equity to lessen the balance to be loaned from a financing institution. Options for the Balance can be thru Bank, In house financing, or HDMF / PAGIBIG. These options for the balance may not be available in all projects. Some developers do not offer In House financing or HDMF / PAGIBIG.
Discounts are also available for buyers who can pay spot downpayment.
There are also important reminders that you need to know if you buy properties on preselling stage. To top that is the track record of the developer. If the company or developer has a proven record that they deliver projects on time, you will have the confidence to invest your money on their projects. You do not want to put your hard earned money to waste. Since real estate investing is also a tough decision to make, you might also need the help of a Licensed Real Estate Broker to better assess your needs and guide you in choosing your real estate investment.
For your real estate concerns, or for those intending to buy a real estate property in Cebu or Bohol, Philippines, you can send an email to amon4realestate@gmail.com and tell us your needs for your desired real estate investment.
Information like location, preferred cost, and delivery / move in date would be very helpful.
Happy investing!
First of all, subdivisions and condominiums sold during this stage are at lowered prices. If you also pay a full down payment, you can even get good discounts like 5% of the total contract price. That is good savings that you can use for another investment opportunity for a more diversified portfolio. In investing, it is wise to put your eggs in different baskets (investing in life insurance can be another investment vehicle).
In most cases, when project turn over nears, the prices of the units are already high. Investing in real estate must be a big decision for you but if you are really into it and you believe on the profit the project can give you, then you should not hesitate to start your own real estate investment.
Investing in real estate should be done at the right time especially when you still have the funds to do it. There are some people who have this wait and see attitude and study first how the market performs when it comes to real estate which is good. However, by the time they decide to invest already, prices might already be too high and location could already be too far from where they initially wanted to start their piece of investment. Population is growing and more investors are surely wanting to get prime locations. It is still a race as to who gets first.
Additionally, during preselling, buyers will enjoy a longer term to pay the Home Equity or Downpayment. Home Equity or Downpayment are used interchangeably in the business of real estate. Normally developers give 24 months to pay the Home Equity or Downpayment but some developers are even more generous enough to allow a 36 month - term. When project delivery or turn over is fast approaching, payment term for the Home Equity or Downpayment is already shortened. In effect, buyers will have the burden of paying high monthly amortizations.
Home Equity or Downpayment paid in installment is actually safer for you as a buyer considering that you will have ample time to save up for it. Buyers also have the option to pay more equity to lessen the balance to be loaned from a financing institution. Options for the Balance can be thru Bank, In house financing, or HDMF / PAGIBIG. These options for the balance may not be available in all projects. Some developers do not offer In House financing or HDMF / PAGIBIG.
Discounts are also available for buyers who can pay spot downpayment.
There are also important reminders that you need to know if you buy properties on preselling stage. To top that is the track record of the developer. If the company or developer has a proven record that they deliver projects on time, you will have the confidence to invest your money on their projects. You do not want to put your hard earned money to waste. Since real estate investing is also a tough decision to make, you might also need the help of a Licensed Real Estate Broker to better assess your needs and guide you in choosing your real estate investment.
For your real estate concerns, or for those intending to buy a real estate property in Cebu or Bohol, Philippines, you can send an email to amon4realestate@gmail.com and tell us your needs for your desired real estate investment.
Information like location, preferred cost, and delivery / move in date would be very helpful.
Happy investing!
Summary of Listings for amon4realestate
For more inquiries, Please feel free to contact me.
A. SUBDIVISIONS
Cebu City & Mandaue City
Mactan Island, Cebu
North Cebu (Consolacion, Liloan)
South Cebu (Talisay City, Minglanilla, Naga City, Carcar)
Camella Homes Talisay City
Camella Carcar
Argao Royal Palms by Primary Homes
Bohol
Other Location
B. CONDOMINIUMS
Cebu City & Mandaue City
Affordable Condo in Cebu
Mactan Island, Cebu
Amisa
North Cebu (Consolacion, Liloan)
South Cebu (Talisay City, Minglanilla, Naga City, Carcar)
Bohol
Other Location
C. LOT FOR SALE
Cebu City & Mandaue City
Mactan Island, Cebu
Lot for sale in Lapulapu City near MEPZ2 (good for apartment)
North Cebu (Consolacion, Liloan)
South Cebu (Talisay City, Minglanilla, Naga City, Carcar)
Bohol
Other Location
1. Davao Lot:
Area: more that 2hectares
Price: Php 600 per square meter
D. HOUSE AND LOT / COMMERCIAL / OTHERS
Cebu City & Mandaue City
Mactan Island, Cebu
North Cebu (Consolacion, Liloan)
South Cebu (Talisay City, Minglanilla, Naga City, Carcar)
Bohol
1. House and Lot
Location: Torralba Ext. Tagbilaran City, Bohol
Price: Php 6M
2. Lot only
Location: Dao, Tagbilaran City, Bohol
3. House and Lot at Php 2,000,000.00
Location: Bilar, Bohol
2-storey house with boarders
Other Location
D. CLUB MEMBERSHIP
E. MEMORIAL
ABOUT REAL ESTATE / READINGS
For more inquiries, Please feel free to contact me.
====================================================
