In buying real estate pre-selling units are often preferred because it can be more budget-friendly, but it does require foresight, planning, and waiting. On the other hand, choosing RFO properties might just prove to be the better option because buyers’ particular needs and preferences. Here are some of the many reasons why RFOs might work better:
- Available for inspection
With RFOs, what you see is what you can buy. The building materials, fittings, orientation, size, and even the view from the windows can easily be assessed versus what the developer promised in their sales and marketing materials. Since the property is already built, buyers can take a look at their potential purchase and determine customizations, improvements, or repairs that may be needed. This gives them leverage to prepare a budget and negotiate accordingly.
- Shorter waiting period
Because the units are ready to be occupied, buyers do not need to wait for construction to finish, or worry if it will actually be finished. Investment risks are minimized with RFOs because buyers can already get a clearer idea of its current and fair value as it currently stands.
- Established locations
Offices, commercial centers, public facilities, and other establishments may have already sprung up around the residence. As such, buyers can gauge if the unit is close enough to what matters to them today.
- It’s tested by real people
With RFO units, there is no need to rely on publicity and advertising. Investors and homebuyers can personally easily learn about the property and the developer by asking around. A quick Google search can also show reviews and feedback that can reveal the developer’s reputation and relationship with real estate buyers.
- There’s a built-in community
There should already be welcoming neighbors once the buyer moves in. Neighbors can be an added layer of comfort and security during a resident’s early days. They are also the best sources for recommendations on the best places for laundry, buying food, and other “local secrets”.
- It can be maximized immediately
Purchasing RFOs means their value can be enjoyed immediately – as one’s own living space or as an asset to earn from. Basic utilities have already been installed and are ready for use, give or take some checking or updating. There are also public facilities that enable residents to maximize their time.
- RFO properties you can check out
One of the local developers currently offering RFO homes for sale is Eton Properties Philippines, Inc., the real estate brand of the Lucio Tan Group. Its finished projects in Quezon City, Ortigas, Manila, and Sta. Rosa in Laguna provide dwellings easily accessible to hospitals, schools, shopping centers, restaurants, other lifestyle destinations, and transport hubs.
In Quezon City along Roces Avenue, there are the understated elegance and sense of balance of 68 Roces’ modern townhomes. Over in Ortigas, there is Eton Emerald Lofts with its premium residential high-rise that offers loft dwellings. There’s also 8 Adriatico, a residential and small-office-home-office condominium located in Manila where each unit is infused by a mix of Old World charm with modern grit.
In Novaliches, Quezon City, stands the township of the North Belton Communities (NBC) than can be accessed via major thoroughfares Mindanao Avenue, Quirino Avenue, and the North Luzon Expressway.
Also in the offing are The Manors, a mid-rise condominium perfect for start-up families and the career-driven.
Those looking for homes inspired by contemporary American architecture will find it in West Wing Residences at Eton City, a development in Sta. Rosa Laguna. It offers indoor and outdoor spaces for growing families.
Though they may come with a higher price, choosing RFO properties can come with benefits that can make it more than worth your while. And with these advantages, buyers can have more peace of mind knowing they made the most informed home-buying decision possible.