Reasons You Should Consider Investing in Ready-for-Occupancy Condos
If you’ve been looking at different properties to invest in for a while, you might have encountered some ready-for-occupancy (RFO) condos. These developments differ from pre-selling ones as buyers can move in on the day they close their purchase. These are sometimes called turn-key investments, and they have several advantages over other types of real estate investments.
Immediate Occupancy
One of the most significant benefits of investing in RFO condos is that you don’t have to wait for the project to be completed before moving in or renting it out. As long as you complete the necessary paperwork and payment, you can immediately use your condo as you wish. This makes it easier to rent it out and start generating income right away.
Reduced Financial Risk
When you invest in an RFO condo near the Mall of Asia or anywhere else, you can have peace of mind knowing that you’re paying for something you’ve already visited and inspected. Unlike with pre-selling units, RFO condos have been completed and you can gauge the quality of workmanship. You don’t solely have to base your decision on floor plans and artist renderings.
As such, there is a lower risk that you’ll end up with a property that is of subpar quality or with hidden defects. You’ll be able to assess the construction’s quality before you make any payments, making it easier to make an informed decision.
No Construction Delays or Cost Overruns
Pre-selling properties often run into construction delays or cost overruns that can reduce the return on investment and even cause losses. In addition, some developers may cut corners to save money, resulting in a lower-quality condo.
With an RFO condo, you don’t have to worry about those issues since the development is already finished. No other factors could affect when you can utilize your investment or how much you’re going to pay for it.
Access to Amenities
One of the best advantages of buying RFO condos is that you can enjoy the amenities that come with it from day one. You don’t have to wait for the construction to be completed to experience the benefits of different amenities, such as swimming pools, fitness centers, parking facilities, security services, and recreational spaces.
Additionally, you can use these amenities to attract tenants. For example, if your condo has a modern fitness center, you can charge a higher rent than other condos that don’t have access to such facilities.
Rental Income Potential
When you purchase an RFO condo unit, like the Mayfair Tower, you can start renting it out immediately. This gives you access to instant rental income, which can help offset the cost of purchase and your other payments. You can also save money on closing costs since you don’t have to pay any construction-related fees.
Furthermore, you can usually charge higher rent for RFO condos since tenants will appreciate having quick access to the amenities and not having to wait for the development to be completed. This can help you maximize your rental income potential and achieve higher returns on your investment.
Flexible Payment Options
Investing in RFO condos allows you access to flexible payment options. This means that you can move into your condo unit right away without having to pay for the property in full. Instead, you can pay for your RFO condo on a monthly, quarterly, or yearly basis, depending on your contract.
If you’re planning to rent your property out, you can also do so while still paying your monthly dues. This is a great option for those who want to invest in real estate but don’t have enough cash on hand to pay for the property upfront.
Discounts Available
Pre-selling condos are often marketed as having a lower price tag than RFO units. However, this doesn’t necessarily mean that you’re getting a better deal.
Developers may offer discounts on RFO condos to make them competitive with pre-selling units. Some real estate companies also provide special discounts or move-in promos for rush sales, meaning you may be able to save more money if you purchase your RFO condo as soon as possible.
Invest in a Property That You Can Benefit From Right Away
Overall, investing in an RFO condo is a smart move if you’re looking for an investment that can yield returns quickly. It also provides you with peace of mind knowing that you’re investing in something that you’ve already seen, instead of trusting developers blindly with your money.
At Anchor Land, we offer different RFO condos across the Philippines. Every property we develop has been designed to provide you with a luxurious and comfortable lifestyle. Contact us today to find out more!
