Buying a house and lot for sale in Manila City can be very daunting especially if you don’t know what to look for and from where to start your search. If you are interested in Manila real estate for investment purpose or for personal use, then you need these practical tips on buying a property that will best suit your needs.
Accessibility
The City of Manila (not to be confused with the bigger metropolitan area of Metro Manila) is composed of 897 barangays with 100 zones. It has six districts with populations that range from 200,000 to 400,000. Traffic can be pretty heavy during rush hours, so you want a house and lot for sale in Manila City that is accessible to the places you frequent. It makes sense to visit the area during rush hour and drive through the neighborhood in order get a feel for its location. You should also check if there are nearby malls, schools, and hospitals.
Price
The average price of properties in Metro Manila ranges from P30,000 to P80,000 per square meter, depending on the location. If the property is situated in a premium subdivision, its price increases exponentially. Set your budget limit so you can immediately eliminate properties that go beyond it. Once you have a price range in mind, create a checklist of your negotiable and non-negotiable items. The list will help you filter properties so that you don’t waste time.
Resale Value
Along with the price, you should also look at the potential resale value of the house and lot for sale in Manila City if you are looking to make this property an investment, or just in case you want to move to another house sometime in the future. Have an expert evaluate the current state of the house and have him estimate its value after 5 to 10 years just if you want a clearer overview of your investment.
Documentation
If you are really interested in a property, the next thing to do is to check its documentation. Does it have clean titles? Have a lawyer evaluate the papers to see the validity of the ownership.
Be wise while searching for a house and lot for sale in Manila and take into consideration all aspects when buying real estate. Choose wisely today for a better tomorrow!
About the Author:
This article is written by Aakanksha Sangtani, working as an International Business Analyst at Housal Inc., an online platform for real estate, addresses unfulfilled needs by harnessing technology and bringing all-related solutions under one roof. For buyers, tenants, sellers, brokers, agencies or developers, it encompasses all their answers from property matching, listings, management, analytics and much more. Housal Inc. is the evolution of the real estate process – empowering the real estate industry for the future.