Buying Properties For Investment In Cebu City

Property development in Cebu City is currently on an upswing with numerous developments within the city, which makes it practical for people who have a good amount of extra cash to consider buying properties for investment in Cebu City. With the rising population in Cebu City due to the increasing job opportunities brought about by the business process outsourcing industry, there is a huge demand for rooms, condos, and even houses for rent.

Apple One Banawa Heights

The real estate industry in Cebu is currently experiencing a boom as the industry has seen a number of companies being created solely for property development. These companies include Apple One Properties, Grand Land, GoldPeach Properties Inc., and Worldwide Central Properties. These new developers have dominated the real estate industry, according to a report from inquirer.net.

Apple One Properties launched its condominium development in the Banawa area that is patterned after the San Francisco Bay Area. The Apple One Banawa Heights offers three options for people who aim at buying properties for investment in Cebu City, the Tower, Villa and Mansionette.  Since the property is tucked away along the hills of Banawa, it offers potential owners a quiet and relaxing atmosphere while staying close to the commercial and entertainment areas in the city.

Grand Land, which is a part of the Gaisano Capital Group of companies, is set to offer a six-tower condominium development in the Mabolo area. The City Homes brand of the company is also the residential housing offering of Grand Land located in Mactan, Mandaue and Minglanilla.

The second flagship development of GoldPeach Properties Inc. is the City Soho located along B Rodriguez, Cebu City. The name of the development stands for Small Office, Home Office and offers a total of 233 residential units along with 225 commercial units.

On the other hand, Worldwide Central Properties is offering its first residential condominium development in the same area as the Apple One Banawa Heights albeit nearer to the main road. The Sundance Residences will provide Cebu City with at least 208 condominium units by 2015, the projected turnover of the units of the first two towers of the development.

Midori Residences

Aside from these newcomers in the industry, there are also some well-established developers offering good investment options for potential investors.  Two of the biggest developers in Cebu are Cebu Landmaster, Inc. and Primary Homes, Inc. Cebu Landmasters, Inc., has a number of condominium and housing developments in and around the province of Cebu. The Midori Residences of the company is set to be turned over by the end of the year while its Baseline Residences is already completed and only a limited number of units are available for sale. Its latest development for people looking at buying properties for investment in Cebu City is the MiVeSaGarden Residences. This condominium development is actually a good place to consider for people aspire at buying properties for investment in Cebu City. Located in the middle of Veteran’s Drive and Sanson Road, hence the name MiVeSa or middle of Veterans Drive and Sanson Road, the MiVeSa Garden Residences is just one ride away from the BPO center of Cebu City, the Cebu IT Park. It is also one ride away from major malls, commercial district, and even the downtown area of the city. This is actually a noteworthy development for people who aim at buying properties for investment in Cebu City.

MiVeSa Garden Residences

Primary Homes Inc. has a number of developments that are available for people looking at buying properties for investment in Cebu City. It offers middle to high-end projects for potential investors or even condominium owners. Among its middle-market developments are the Lahug Garden Flats, Woodcrest Residences and the Mabolo Garden Flats. Its Avalon condominium development is mainly aimed at the high-end market, and rightly so since right inside the Cebu Business Park, across Ayala Center Cebu.

Buying properties for investment in Cebu City is actually the best way for people who are thinking of the best way to invest their hard-earned money. For instance, purchasing a studio unit through bank financing may cost around P10,000.00 to P12,000.00 each month. The current price for renting studio units in Cebu City is at least P15,000.00. This means the property owner can actually earn around P 3,000.00 each month their property is being rented. Since contracts for renting would normally have a minimum term of at least one year, the property owner will not have to worry about paying for their investment for one year.  All they have to do is to make sure that someone would rent their units. This is where property management companies come in. These companies would take the responsibility of making sure that the studio unit is made available for rent. The best way to have it rented is to get a reputable property management company that has numerous partner-companies to ensure optimum coverage in terms in making it available to potential clients.

The influx of BPO companies in Cebu City has made the city a prime investment area in the real estate sector.  Due to this, it is essential for anyone who has a good amount of extra cash to become a part of the industry by buying properties for investment in Cebu City. Given the chance, I would definitely invest my hard-earned money in properties in Cebu City.  However, for the moment, I am still trying to work hard in order to get the money that I can eventually use in buying properties for investment in Cebu City.

Pre-Selling Or Ready-For-Occupancy - Purchasing Properties In Cebu City

Green Plains

Owning a house is one of the best investments that a family can make since provides security as well as potential profit in the future. Deciding to purchase a house is one of the biggest, if not the biggest decision that any family can make. Heck, it may even be the only major decision that anyone can make. This is especially true to heads of middle-income families who have to deal with other financial responsibilities associated with raising a family.

Although there are numerous options available for families looking to own property that they can call their home in the future, one major factor that affects the decision in purchasing a piece of property is the cost. Living within Cebu City is quite costly with the rising prices of properties inside the city. The same thing can be said for properties within Metro Cebu or in cities and other locations around Cebu City such as Mandaue City, Talisay City, Consolacion, Lapu-Lapu City, and even Minglanilla. Due to this, it is essential for potential home owners to weigh out the advantages and disadvantages of purchasing any piece of property,

The price of any property will depend whether or not the property is still on its pre-selling stage or is already ready-for-occupancy. Properties that are still on their pre-selling stage is actually cheaper than ready-for-occupancy properties. The main reason for this is the fact that these properties are not yet livable or are still under construction. On the other hand, properties that are ready-for-occupancy are properties that are already, well, ready for occupancy or the buyer can move in once the down payment is made.

MiVeSa

The main advantage of purchasing properties that are still on their pre-selling stage is the price. More often than not, the prices of these properties are at least twenty to thirty percent cheaper than properties that are ready-for-occupancy. However, potential home owners will have to wait for the property to be finished before they can move in.

This is actually good for buyers who may not have the cash ready to pay for the equity or the down payment of the property. Normally, the property buyers are given twenty four months or two years to pay for the equity. There are even some property developers offering a down payment period stretching to thirty-six months or three years. But, one major drawback for buyers is that they will spend more each month since they will have to deal with their monthly rental for the place they are currently staying in while paying for the down payment. Due to this, it is essential for buyers to consider whether or not it is more cost-effective for them to purchase properties at their pre-selling stage or purchase ready-for-occupancy properties.  This situation is actually advantageous for people already living abroad and planning to purchase properties in Cebu City. They can purchase properties at their pre-selling stage while continuing to work abroad and once the property is already finished, they can return to Cebu City and enjoy the fruits of their labor.

However, there may be some instances where the down payment of a particular property is low since the total contract price of the property is low. This will be advantageous for people who are temporarily renting a house within Cebu City since the down payment may not put a major dent on their finances.

Shine Ville 2

Purchasing ready-for-occupancy properties is another option for potential home owners. All they have to do is to pay for the down payment and they can move into the property already. It is essential to take note that the down payment should be fully paid before they can move in. This situation is beneficial for people who have money set aside for the down payment of properties they want to purchase. However, for most of us who may not have the cash ready to pay for the equity or the down payment, we will have to continue paying for the down payment before we can move into the property. 

The major factor that affects the decision of anyone in purchasing properties is the cost. Due to this, it is important for future home owners to weigh out the pros and cons in purchasing the property. They should take into consideration the monthly expenses, especially if they cannot pay for the down payment at one time.

Apple One Banawa Heights

For me, I would rather purchase properties that are still at their pre-selling stage since the price is cheaper. It may be possible for property prices to increase by twenty to thirty percent once the property is already ready for occupancy. There may be instances where the price may go up by as much as fifty percent. Since I do not have the cash to pay for the down payment at one time, purchasing the property at its pre-selling stage may be more cost-effective for me than purchasing a property that is already ready to be occupied. Although my monthly expenses will increase due to this, I can have the peace of mind that after two or three years, I will have a house that I can finally call my home.

Buying A Condo In The Philippines

When buying a condo, among the most important things to consider is the price of the unit. Is the price fair? Does the price fit the location of the condo? Is the price suitable for area offered by the condo unit? Are the amenities suitable enough for the price of the condo unit?

These are some of the questions that normally comes to mind when you are contemplating in buying a condo in the Philippines. It is important for you to take into consideration the area of the unit that is being offered by the developer. There are some condo units that offer a bigger space in the unit, however due to the design of the unit, you may not be able to maximize the use of its bigger size in terms of square meters. There are some condo units that may appear smaller in terms of figures, but the design of the unit will allow you to fully optimize the available space of the unit. This means that even if the price is slightly higher than another unit that offers a bigger area, it will allow use to use all the available space in the condo unit.

Another thing to take into consideration when buying a condo in the Philippines is the location of the project. Yes, many people would rather opt to buy a condo in a location near their place of work, which will likely be at the center of the commercial district of a city. However, most, if not all, condo projects located at the center of the commercial district have a rather steep price tag. Therefore, it is advisable to consider buying a condo unit that is around thirty minutes away from your workplace. The location should not only be near your place of work, it should also be near shopping centers, a hospital, the domestic port, and an international airport.

Some people who want to buy a condo also take into consideration the developer itself before they consider buying a condo unit. There may be some developers who have been in the market for a number of years however the prices of their units are rather steep or the amenities are not enough to cover the price of the condo unit. There are also some developers that are relatively new to the industry of condo development but have a good track record in other types of developments, which may offer potential buyers of condo units an option when they make their decision in buying a condo in the Philippines.

Lastly, people who consider buying a condo in the Philippines may consider the terms of payment for the unit. Although this is linked to the price of the unit itself, some developers offer discounts or long payment terms for potential buyers especially if the condo project is still in its pre-selling stage. When a condo project is still at the pre-selling stage, the prices are still low. So it is recommended for potential investors to buy a condo while it is still at its pre-selling stage.The lower the price, the bigger the discount they would receive especially if they are intent in buying a condo unit on a spot cash basis. The longer the terms, the lower the discount. However, if it is still at the pre-selling stage, the price of the condo unit is still lower compared to when it is already ready for occupancy.

These are just some of the things that have to be considered when you decide on buying a condo in the Philippines. It is therefore advisable to take into consideration some of your options when you decide to buy a condo in the Philippines.

Taking Advantage of Payment Schemes in Property Acquisition

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.

Things To Consider When Looking To Acquire Property For Sale

Property For Sale

A house, a townhouse, or a condominium is considered a major investment for many people particularly among those who are earning a fixed monthly salary. This is the reason why they should think about the property for sale before they spend their hard-earned money for it.

Choosing the property to purchase is not easy since there are a number of factors to consider when looking at any property for sale. However, there are three basic things that property buyers should consider before they make their final decision to purchase the property for sale.

One of the things that they should consider is the affordability of the property for sale. For many people, this is probably the most important thing to take into consideration. The price of the property for sale is comparatively lower when it is initially offered into the market. This is the pre-selling stage of the new development and developers normally offer it at a comparatively lower price since they are still trying to attract potential buyers for the property for sale.

It is advisable for potential buyers to look into the payment terms of the property for sale and weigh out the advantages and disadvantage of purchasing the property for sale on a spot cash basis as against to purchasing it using a bank housing loan. People earning a fixed salary would normally opt to purchase the property for sale through housing loan, either through a bank, a government housing agency, or through the in-house financing of the developer. However, some would opt to purchase the property for sale on a spot cash basis since it offers discounts for the buyers of the property.

Potential buyers who are not looking to move in immediately into their new property may have to purchase the property for sale on its pre-selling stage since the price would typically increase as the development comes nearer to completion.

Another thing that has to be considered when looking to purchase property for sale is its accessibility. The price of any property for sale is directly proportional to its proximity to the main commercial areas of a city. This means the nearer the property for sale is to the center of commerce, the higher its price. However, this higher price tag may be worth it since the nearer you are to where you work, the better it is for you. You do not have to be stuck in traffic in order to get to work. In fact, you may even have the chance to get some exercise by walking to your workplace instead of commuting or driving a car.

If you opt to acquire a property for sale that is further away from you place of work, you take into consideration your access to public transportation, if you plan to commute, or the traffic situation, if you plan to drive to the workplace (although this may also be one of the considerations if you commute to your workplace as well).

The third thing that should be considered when looking to acquire property for sale is accountability. This mainly refers to the developer of the property that you are looking to acquire. It is advisable to look at the background of the developer and see if it has a good track record when it comes to property development. You can check on whether the developer had a good track record in building houses, townhouses, or condominiums. A good subdivision developer may not necessarily be a good condominium developer.

If possible, look into the financial status of the developer. Check whether it is stable enough to start and finish the entire project. Try to talk with owners of subdivisions or condominiums that were developed by the property developer. Get some feedback from them, both good and bad feedback. This will help you make your final decision on the whether to acquire the property for sale or not.

These are just some of the things that you have to consider when you are thinking of acquiring a new property for sale. When you take these things into consideration, you will have a better chance of acquiring the property that is worth every penny that you spent for it.