Why OFWs Should Purchase A Home While its on Pre-selling Stage
Here are some of the reasons why OFWs or even people residing in the Philippines should think of why they should purchase a house and lot or any property investment while they are still not ready for occupancy.
Purchasing a home is quite more possible for some of our OFWs since their income rate is much higher than the average earning of Filipinos working in the Philippines but thankfully investing now is a win-win situation for both sides since there is this what we call “Pre-selling” projects for some house and lot packages which typically is less costly than buying a built home.
Pre-selling in real estate refers to townhouses, condominiums or homes that are being sold prior to the completion of construction, or even in some cases, prior to the beginning of construction. This means that at the time of purchase, the property still does not exist or is not yet complete — depending on the progress of construction at the time of purchase.
Pre-selling is a term for planned houses which are sold before it is completely built and before a house is able to be occupied. This is done by developers to generate initial capital for their project. The project will last for a minimum of a year and extends depending on the development of the land. The location mostly depends on the developer’s proper insight along with skillful architects and engineers.
It’s difficult to persuade buyers to engage into this type of housing but much depends on how one can explain the details in an informative manner. Contrary to this dilemma, here are some of the pros you may enjoy when you invest in a pre-selling properties…
Prices are low
To carry off the burden of not having to occupy instantly, pre-selling houses are usually sold at a lower price usually about 30%–50% lesser than its market value. Developers might also offer additional discount and flexible payment schemes to make it a good deal for the investor. Their goal is to make the house and lot more affordable and more accessible to all.
Investing is also ideal for OFWs and potential investors who doesn’t necessarily want to have their investment immediately. Investing in a pre selling project have also the edge of having a smaller monthly payment giving investors ample time to breathe as well, letting them have the moment to plot for the possible interior related materials without pressure and without sacrificing most of their allotted budget.
Market Value Rises
It is given that land appreciates in value as time goes by. In addition to this information, the increase in value much depends on the development near the area. Malls, groceries, hospitals, church etc. and other organizations can be some of the key role player of getting your land appreciate its value to a high extent. Good for the clients, as much as possible developers try to initiate their projects within a good location, near establishments not just to increase the value but to help the future clients have the utmost convenience when buying their necessities.
More options to choose
When a project is still at its pre-selling stage, there is usually a high amount of house and lot inventory. In this case, you have the advantage of easily choosing a prime location at a low price. You also have the benefit of having a higher rate of value appreciation in the future when the community is fully developed.
Customization and Features
While the community is still under land development, you can always ask if your unit can be adjusted to your preference. Whether you want an extra lot beside your home or an extension, you can approach your agent or the marketing officer-in-charge and have your plan approved. During the pre-selling stage, most developers are lenient towards their customers when it comes to customization. However certain rules and regulations have to be followed when you want to have an adjustment in your home or condo unit.
Thanks for reading. Have a nice day!
