More often than not, the cost of acquiring a new property is quite prohibitive. For a number of people, they would rather rent a place instead of purchasing it due to the huge initial outlay that is needed for the property. They think that they may not be able to scrounge up the funds needed for the equity payment, which can go as high as thirty percent of the total contract price.
However, this is not true all the time, since a number of developers are offering budget-friendly payment schemes for potential buyers. Some of these payment schemes even offer discounts to the monthly property payments depending on the payment scheme that the buyers have opted to use.
One example of a budget-friendly payment scheme is offered by an upcoming condominium development in the Mabolo district in Cebu City, the Riviera -French-Style Living Condominium. Buyers can take advantage of the 8/16 promo for the downpayment or the equity payment of the condominium unit. In this payment scheme, buyers will only have to pay 8 percent of the total contract price of the unit in the first twelve months, while the remaining 16 percent of the equity will be paid in the next 18 months. To sweeten up the deal, these payments will have no interest at all. Yep, ZERO interest for the equity payments that is spread out in 30 months. The remaining balance can be paid through a bank loan, where a number of banks will be able to offer competitive pricing for the units.
This is a rather good deal considering the fact that the development is conveniently located near two of the major malls in the city and is a five to ten minute ride away from the IT/BPO hub of the Queen City of the South.
Potential buyers may also take advantage of the fact that the development is still on its pre-selling stage, which means that prices have yet to increase. The price of the condominium unit will increase at the end of the month, so it is very much advisable to take advantage of the competitive pricing before it goes up at month's end.
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