Planning to buy your dream house this year? Read on as we walk you through the 7 advantages of buying a ready-for-occupancy or RFO unit this 2022.
RFO or Ready-for-Occupancy units have a number of advantages that make them an excellent real estate investment for both investors and prospective property owners.
RFO, or ready-for-occupancy, refers to a house and lot, an apartment unit that is ready to move whenever you desire.
While pre-selling units appear to be more practical due to their reduced selling price, RFO apartments offer a plethora of perks and benefits, making them even more appealing.
RFO houses and lots are becoming increasingly popular among both property investors and end-users these days, as these properties are primarily located in the Philippines’ major commercial districts, where people want to remain. These homes not only allow end-users to move in right away, but they also allow investors to rent out the property right away.
So, if you don’t want to micromanage every element of your home, these properties are ideal. These homes’ designs eliminate all of the decision fatigue that consumers often face when searching the internet for inspiration. The need of hiring a contractor to bring your concept to life is also diminished here.
We all knew how rough 2021 is, but as the months passed we can see how the economy is recovering. And with that, we are to discuss the advantages of RFO house and lot this 2022 and why you should get it for investment.
Why Ready-for-Occupancy or RFO house?
Families, independent professionals, and OFW retirees looking for a quick real estate transaction will love our ready-to-move-in properties. RFO real estate is more expensive than pre-sale or pre-selling real estate, and the down payment terms are less flexible. They are appropriate for property buyers such as OFW investors who have sufficient resources to purchase a house and lot or a unit and have mastered financial stability. Choose a Philippine real estate developer with a track record of creating high-quality homes and condos that will last for future generations.
1. Move-in ASAP
The ability to move in as soon as you are ready is one of the best advantages of RFO house and lot this 2022. Unlike pre-sale flats, where you must wait years to move in, an RFO property allows you to move in as soon as all paperwork and formalities have been completed and signed, and all payments have been completed. This is perfect for families and individuals that are relocating, as well as expatriates, foreigners, and immigrants. This is a perfect choice especially if you want to stay away from the saturated and populated cities that have a higher chance for you and your family to get infected by COVID-19.
2. No need for extra work
While this is not always the case, the bulk of property developers in the Philippines are currently concentrating their efforts on selling fully furnished RFO houses and lots. This is a relief for first-time property buyers because they won’t have to worry about furnishing their homes with furniture and other furnishings. Furthermore, there is no need to pay interior designers, allowing buyers to keep their investment costs low. You also won’t have to worry about construction and all of the associated costs, such as arranging with engineers, architects, and foremen, if you buy an RFO property.
3. Rent to Own Opportunity
Another best advantage of RFO house and lot this 2022 is to convince the seller if you can rent to own the unit, in that way you can already relocate to the location even though you haven’t fully paid the house. Many property developers nowadays provide property buyers with the option of participating in rent-to-own programs, in which they can utilize their monthly rent to purchase properties after a few years. These properties are particularly advantageous for end-users who do not want to pay a large down payment because they are available on a lease contract with the option to purchase. However, keep in mind that if you decide not to purchase the house at the end of your renting term, your rent will not be refunded.
4. Inspect the finished project
Even when you invest a tiny amount of your hard-earned money in a small item, you want to get your money’s worth. When it comes to buying a property, the same is true. And choosing a ready-to-move-in home can save you a lot of money because you can see exactly what you’ll get. It also gives you the opportunity to thoroughly inspect the home you’re interested in. You can do preliminary inspections on the property and find even the tiniest flaws by inspecting it up and personally. Furthermore, by selecting an RFO property, you will have the opportunity to investigate the area and location.
5. Installed utilities
If you are purchasing a previously owned RFO unit, it is likely that utilities such as water, electricity, telephone, internet connection, and even cable are already in place, so you won’t have to worry about applications or installations other than changing the name.
6. Amenities available
Nowadays, one of a condominium’s or apartment’s selling features is its amenities. The greater the number of amenities and the higher the quality, the greater the market demand, particularly for pre-sale units. Because of the high quality of their amenities, some developments sell out quickly.
What’s nice about an RFO unit is that you get your own private area while also having access to the building’s facilities. A swimming pool, a fitness center or gym, a function hall, and other amenities are available.
7. Lots of Opportunities
Investing in real estate, especially residential real estate, is a fantastic decision since you can earn money in a variety of ways. One of the best and most flexible advantages of RFO house and lot this 2022 is that if ever you decided not to occupy the house yourself. You can always offer it to rent by others. All you have to do now is furnish the unit with the appropriate furniture, appliances, and a dash of décor. After that, you list it on the internet, advertise it, and are ready to cater to both staycationers and visitors.
Furthermore, if an RFO unit is located in a desirable real estate region, it is likely that it has already risen in value since you purchased it. This might be advantageous to you because condominiums or apartments in great real estate areas are more saleable, giving you the opportunity to sell at premium real estate pricing.
Buying an RFO unit may be more expensive and need a large down payment, but with all of these benefits, it may be a smart idea to consider it. Especially if you want to move in right away.
If you are looking to purchase your RFO home for your investment this 2022 then you are in the right place. Here’s Affordable House and Lot | How to buy Bria Homes’ RFO which will guide you on achieving your first affordable RFO house.
Bria Homes has a reputation for being one of the most reliable real estate companies in the Philippines. Bria Homes Inc. has prioritized the founding and development of affordable, reasonably priced houses and lots, as well as affordable condominium apartments, from its foundation, providing chances for regular Filipino families whose primary goal is to own a home.
Written by Aaron Cruz