Pre-Selling vs. RFO Condo: Which is the Better Investment?
Posted by Ortigas Land
Date posted June 17, 2020
Ortigas Center is rising to new heights, with ongoing developments boosting the business district’s growth. Businesses flock to the area for premium office spaces, strategically located commercial lots, and lifestyle destinations.
Ortigas CBD is also the next residential address of choice, with the city’s groundbreaking residential projects. Plenty of move-in-ready and pre-selling condo units rise at Ortigas Center, attracting city dwellers wanting to be in the heart of the thriving urban center.
Home seekers looking to move to the district can either acquire a ready-for-occupancy (RFO) or a pre-selling unit. Both have their pros and cons, so it’s important to define your needs first before putting down a deposit.
RFO Condo Unit
Immediate ownership: Is your work in Ortigas Center and you’re looking for the perfect home that's just a 5-minute walk away from your office? Or perhaps you just want the excitement of living in the middle of a thriving community? You don’t need to wait two years to do that as move-in-ready condo units are just waiting for your confirmation. Once you’ve settled all your paperwork, requirements, and down payment, you’ll receive the key to your new home and live the lifestyle you deserve.
Less move-in stress: If the current color scheme don’t match your style, you can easily change it in the near future. Building admin services can assist you for signing up with your preferred utilities service provider.
Available amenities: A swimming pool, a park, a fitness gym, a retail center -- these are all amenities that you can enjoy at mixed use developments like Circulo Verde who sell RFO condo units. Whether you're starting to be more independent or growing a family of your own, you'll have access to exclusive recreational facilities that fit your lifestyle and provide you the best in modern living.
Higher prices: The property has already increased in value since its pre-selling and launching phases, so you’ll have to pay a premium for a move-in-ready unit. And as the real estate market continues its bull run, properties can quickly appreciate over time, especially if it’s fully developed and furnished.
Limited choices: Many RFO units are those left from the pre-selling period, leaving you a small pool of options. If you’ve found a great property, it’s best to put down a deposit as soon as possible or else another homebuyer can beat you to it.
Why choose an RFO unit: Ready to relocate? A move-in condo is a smart choice, especially for working professionals, newlyweds, and starting families. After all, urban living isn't just trendy, it's also practical! That’s why many people dream of living in a place where malls, fitness centers, and transportation hubs are just an easy reach from their doorstep.
If you work in the Ortigas CBD and prefer a short walk or commute, or if you just want the convenience of living near shops, restaurants, and train stations, an RFO unit will make modern city living all the more exciting and convenient. You'll love where you live!
Best unit options: In the pre-selling stage, you have the privilege of choosing your ideal unit during the project launch. You can pick the best unit, such as those that offer great views or come at the right size, which are highly attractive to future renters. You can also choose the ones located right next to the playground, the swimming pool, or the topmost floor where one can enjoy the beautiful metro skyline -- all premium amenities that give your property an edge over the rest.
Flexible payment terms: Since the condo is still in construction, your payment term tends to run longer. There’s less pressure to complete your payments, allowing you to set a more manageable budget. The property can be paid in monthly installments, with the down payment payable in two to three years.
More time and freedom to design: Everyone wants their home to be their ultimate comfort zones, and that's easy to achieve if you design it exactly the way you want it to look and feel. Not just for you, but your family, friends, and other visitors too. With a pre-selling condo, you have the absolute freedom to design it however you wish. Planning to go the minimalist route? Do it! Want to stay up to date with the trends? No one's stopping you!
Since it'll take some time for the condo's construction to be completed, you'll have plenty of time to search for the perfect interior designer or shop around for furniture.
Excellent investment option: The value of real estate, especially ones in prime locations, appreciates over time. This is especially true for pre-selling properties. After their completion, the value of pre-selling condo units increase considerably and you can earn a profit by selling them in the secondary market. It's not uncommon to see condo units bought five years ago, especially those in Ortigas and Makati, that now fetch double their original amount.
Longer turnover: You’ll have to wait until the condo’s completion before you can move into your new home. You may have to wait three to five years, depending on the speed of the construction. But this shouldn’t be that big a problem if you’re buying a condo for investment.
Possible delays: A lot of things can happen between the date of your purchase until you move in; the developer may encounter some construction problem, you may run into an issue with your interior designer, or some other delay may happen. This complication becomes a burden since it forces you to extend your temporary living setup until turnover.
Why choose a pre-selling unit: This is the best option for individuals who want the luxury of choosing the best units at their ideal locations. And since they're cheaper at their introductory price, it's great to know that your condo has the best view, yet at the best price! You also have plenty of time to plan the design of the unit as you wait for the construction to finish.
Additionally, pre-selling units are the ideal option for investors who plan on reselling or leasing the property later. Real estate value always goes up, so you'll get a higher return on investment
Regardless of your choice, choose a reputable developer to ensure the quality of the condo – from the construction and architecture to the amenities and facilities.
Premier Real Estate Developer in Ortigas
One of the pioneers in the Philippine real estate landscape, Ortigas Land builds master-planned developments that perfectly balance life, work, and leisure. We continue to create first-class homes with accessibility and convenience in mind.
Ortigas Land introduces Maple at Verdánt Towers, the first tower of a three-tower condominium development that fosters a thriving live-work-play community. Units are now pre-selling. Contact us for inquiries about the property.