If you’ve been on the lookout for a condo home, we’re sure you’ve encountered terms like pre-selling and ready-for-occupancy (RFO) units. Like any other homebuyer, you might be wondering what these terms mean, if there are differences between the two, and more importantly if there’s a better option for you.
In real estate, pre-selling and ready-for-occupancy refer to two options you can look into when buying a property. Choosing between the two will boil down to how soon you want to use the unit:
- A pre-selling unit is sold before a project’s completion – either during the planning stages or construction.
- A ready-for-occupancy unit refers to units that are readily available and you can instantly move into upon payment and completion of the necessary documents
Based on the terms alone, it’s wiser to go for an RFO unit because of the convenience it offers. If you have saved up enough for a new home, why wait for three to five years before moving in when it can be done swiftly? Here are five reasons why it’s better to purchase a ready-for-occupancy unit:
You are assured of the quality of the unit and the property in general.
Whether it’s a home, a gadget, or anything we’re spending our hard-earned money on, we want to get our money’s worth. Choosing an RFO unit saves you from surprises because what you see is what you get. You’ll have a chance to closely inspect the unit you’re eyeing – if it’s functional, spacious enough to your liking, and can accommodate your belongings.
You will also have an opportunity to check out the location and neighborhood.
You can move in as soon as you want because there’s no waiting time involved.
Time is of the essence – whether you’re ready to invest or move into your new home. An RFO unit can help you value the present as you can readily use the space. A trustworthy sales agent can guide you through the process of purchasing your unit, making sure it’s smooth sailing and stress-free for you. Once you settle the payments and submitted the needed documents, you can get the keys to your unit and make it your own. If you’re planning to rent it out, you can easily do so and earn extra cash from it.
You can explore the amenities and the property’s other features.
If you’re in the process of making a decision, choosing a finished property lets you participate in a tripping, wherein you get to tour the property and see the amenities that complete it. Doing so means you know what you’re paying for and won’t be shortchanged once you’ve made a final choice.
You get to make a prime investment.
Though priced higher than a pre-selling unit, an RFO unit is a good investment because you’re aware of what you’re paying for since you get to inspect the property and its amenities firsthand before moving in. Just because you’re paying a little extra doesn’t mean you need to carry a financial burden – payment terms can be negotiated as well and a good sales agent would be happy to discuss the options with you. When you choose an RFO, you can also inquire about possible discounts and extra services you can get moving forward.
If you’re not yet ready to move into your unit, you have the option to rent it out – giving you a source of passive income. Just be clear about the house rules and makeover arrangements to make sure the unit will still be in pristine condition once you decide to use it in the future.
You get to have a feel of the neighborhood and how you’ll live in the place.
Can you live the life you’ve always wanted in your chosen property? If you choose a ready-for-occupancy unit, you can get the vibe of the property when you join the tripping with your sales agent. You’ll know the number of units per floor and see if the ambiance is relaxing. Some agents will also update you if there are developments within the area that will make life easier for you such as malls being constructed nearby, transportation options you can explore, and other developments that will support your desired lifestyle.
Ready to invest? If you’re looking for ready-for-occupancy units you can invest in, check out The Residences at Commonwealth by Century in Quezon City and the Azure Urban Resort Residences in Parañaque City. If you’re looking for more real estate properties in the Philippines, call (+63) 917 555 5274 or email ask@century-properties.com to learn more about condos for sale and other real еstatе properties by Century Properties.
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