Advantages of buying Pre-selling Condo.

Published Date : November 16, 2021 Buying Tips Financing Real Estate 101 Renting condominium

 

Pre-selling is when the developer offers the property to sell before it is officially ready to be launched in the market – either Condo, townhouses, houses, or lots. These properties are usually in the early stages of construction or just in papers.  This type of property is gaining popularity due to its below-the-market value. Homebuyers will be looking at the actual site or the blueprints of the property. Most of the property is in the construction phase already. If you are looking for Pre-selling Condo, a Townhouse for sale, Apartment for sale, refer to Housal.

 

Pre-selling condos are highly in demand because of the following reasons:

 

  • Pre-selling condos are at their introductory stage; thus, they offer substantial discount rates. You may find a lot of price difference as compared to the finished one. Some good deals can give you a 30-50 percent discount on the market price. On top of that, some developers are ready to give more discounts or more flexible payment options.

 

  • You have the opportunity to decide so many aspects as per your taste. As most of the properties are still under construction, you can choose what part of the location you want your house to be. Your preferences can be about the direction of the house, floors, windows, entrance, etc. Being involved in the construction lets the buyer inspect and ask for adjustments in advance. Try to keep yourself actively updated as to its process; plans get modified. 

 

Let us help you find the Best Property Pre-Selling Condo in Metro Manila.

 

  • Once the property’s construction is over, you have the option to rent it out. You can look at it as an investment opportunity. Getting a property at less than market price and then ultimately renting it out. It can prove to be a good and stable source of income. You have the chance to make changes in the place as per the satisfaction of the tenants.

 

  • The value of a pre-selling condo increases once the construction phase is over. With the development in your location, the value of your property will rise. You always have an alternative of selling it at a higher rate. 

 

It is important to find a place that fits your goals and lifestyle well within your budget. A building in the right place and has the potential for market growth will be a good investment. All in all, what you buy must be fair for the price and satisfied with your purchase decision.

If you are looking for a pre-selling condo in the Philippines for investment purposes, you are at the right place. Want to know more, sign-up at Housal.

 

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10 Terms you Must Understand When Conducting Real Estate Transactions

Published Date : November 10, 2021 Real Estate 101

 

To connect more with the world of real estate:

  1. Join Housal.
  2.  Find incredible property deals like Pre-selling Condo, Townhouse for sale, and many more. You can also feature your ads like Condo for sale, Apartment for sale on our website.
  3.  Get a boost on your listings with us.

 

Here is some useful real-estate vocabulary.

Lien

Lien is the amount that the owner of the home, or the seller, has to pay on their mortgage. Usually, the mortgage is supposed to be paid before selling the property.

 

Market Value

It is the highest expected price of the property in fair market conditions. The Market value of the property plays a vital role in the evaluation of its price.

 

Amortization

Amortization is the period of payment of a loan from a mortgage, including principal and interest.

 

Capitalization Rate

The capitalization rate is used to ascertain the value of a property based on net income. It is usually productive in the case of Apartment buildings.

 

Comparable Market Analysis (CMA)

It analyzes the home’s value based on the recent selling of similar properties in the same area. CMA helps in the estimation of a home’s worth.

 

Depreciation

Depreciation is the reduction in the property’s value (building) due to wear and tear over some time. It does not apply to land property.

 

Title

A title refers to the entitlement of various rights that arise with the lawful ownership over the property.

 

Counter Offer

Different changes are made to the agreement, either by the seller or the buyer. It can also mean when the initial offer gets replaced by a new counteroffer.

 

Foreclosure

Foreclosure is when the borrower defaults to make the payment, so the lender claims ownership over the mortgaged property.

 

Principal

It is the amount borrowed for a mortgage loan. The payment of the mortgage includes both the principal and the interest.

 

If you are planning on buying/selling your property, these words may come in handy. When dealing with real estate, one should be aware of the basic terminology. Housal assists in dealing with properties, so you can get on board with us if you require that. With Housal, you can get your Condo for sale and boost up your property listings.

 

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