Investing in a ready-for-occupancy condo unit is a smart choice. You can earn passive income from this kind of investment by enrolling your condo unit for long term or short term lease. You can also earn income by selling the condo unit at a price higher than your purchase price, all you have to do is to monitor the current value of the property.
Investing in real estate is a sound investment amid soaring inflation, because it is one way of growing your money to fend off inflation.
What does RFO mean in real estate?
RFO or ready for occupancy in real estate refers to a house, apartment, or condo unit that is already available and you can move in anytime that you want.
Perks of buying a ready-for-occupancy unit
- You can move in right away
- No more hassle of construction or renovation
- You can get a good deal in the price
- RFO condo offers you a safe environment
- RFO condo offers you peace of mind
- You can enroll a RFO condo in a rent to own scheme
- You can enjoy great amenities when you invest in an RFO condo
- You will have no problem applying for utility connection
- In an RFO condo you can inspect the unit before moving in
- You can enjoy the latest design technology of RFO condos
- You can earn passive income with an RFO condo
- RFO condo value appreciates overtime
- Investing in an RFO can be your lasting legacy
1. You can move in right away
A ready-for-occupancy (RFO) condominium is a good investment because it is already complete and fully furnished. All you have to do is to move in right away and enjoy your new home. An RFOcondominium is convenient especially for working professionals, for those couples who are starting their families, and retirees who need an immediate roof over their head.
Another advantage of buying an RFO condo will save you time from the hassle of buying furniture and transporting them back into your condo unit. Also the situation where you have to make sure that the furniture that you will buy would fit in the size of your condo unit.
2. No more hassle of construction or renovation
RFO condominiums are also a great choice for those who want to avoid the hassle of construction and renovation, because in an RFO condominium the land developer will shoulder the construction of the condominium.
There are also land developers who have their own fit out team, who are experts in the field of interior designs. All you have to do is give them your plan and they will take care of the renovation.
You can still have your do-it-yourself renovation in an RFO condo setting, just make sure that you follow the process that is required by your condominium management.
3. You can get a good deal in the price
Another benefit of buying an RFO condominium is that you can usually get a good deal on the price since the developer is eager to sell them quickly. This situation is different from the pre-selling of a condominium by a land developer.
4. RFO condo offers you a safe environment
When you invest in a ready-for-occupancy condo unit, you and your loved ones will be safe and secure. The land developer has already taken care of all the necessary construction and safety inspection.
Condominium management also have their own security checklist or protocols that are being disseminated to their residents to remind them on what to do when it comes to emergency situations.
5. RFO condo offers you security and peace of mind
If you invest in a ready-for-occupancy condo you do not have to worry about security issues. Land developers are the ones who will hire their own security personnels and they equip their properties with closed circuit television cameras (CCTV).
That is why it is also important to do your homework and choose the most trusted land developer in the Philippines, so that your ready-for-occupancy condo investment will be worth it.
6. You can enroll an RFO condo in a rent to own scheme
If you have no sufficient funds at the moment to cover the full amount of the selling price of the RFO condo unit, you can always look for a land developer who offers a rent to own for their RFO condo units.
A rent-to-own scheme is one way on how you can invest in a ready-for-occupancy condo unit. This scheme can help you ease the financial burden if you want to invest in a ready for occupancy condo with insufficient funds at the moment.
7. You can enjoy great amenities when you invest in RFO condo
When you invest in a ready-for-occupancy condo you will also be enjoying the top rated condominium amenities that a land developer has to offer. As these amenities are a stone’s throw away from your RFO condo unit, you will be enjoying the fitness gym, pools, convenience shops, landscaped gardens, function halls and other amenities any time you want to.
There is no need for you to step out of your condominium community and look for these kinds of amenities, because land developers these days are including these different amenities as their selling features.
8. You will have no problem applying for utility connections
When you invest in a ready-for-occupancy condo, you do not have to worry about applying for utility connections for water, electricity, cable and internet. The land developers have already taken care of these applications. All you have to do is to approach the management and ask about the utility connections, especially the cable and internet connections.
If you are purchasing a previously owned ready-to-occupy condo unit. There is a possibility that these utilities are already installed in the unit, all you have to do is to update the condo management for the transfer of name.
9. In an RFO condo you can inspect the unit before moving in
Here is a good thing when you invest in an RFO condo, you can thoroughly inspect the condo unit to check the quality of the condominium. You can also inspect the quality of the furniture inside and outside of the condo unit, the plumbing and lighting fixtures, and the condo unit interior design.
You will also have the opportunity to check the environment and the location of the condo and see if it will be convenient and accessible for you.
10. You can enjoy the latest design technology of RFO condos
You will only be able to access this latest condo design technology when you pick the right land developer. Nowadays land developers are building their condos with the latest technology that are eco friendly. It will not only benefit the environment but also their residents.
11. You can earn passive income with an RFO condo
You can earn from your rfo condo when you open it for lease to other people either for long term or short term lease and earn a passive income from the rental payment.
You will have no problem in looking for people to lease your property especially when your RFO condo unit is a resort inspired property like the Royal Palm Residences and it is located in a prime area like the Bonifacio Global City.
12. An RFO condo value appreciates overtime
Another way of earning income from your RFO condo is when the value of the property increases overtime. It is certain that the value of the RFO condo unit will exceed your purchase price.
13. Investing in a RFO can be your lasting legacy
Like they say it is not all about the money, because once you invest in a ready for occupancy condo you are already living a legacy to your children or your grandchildren. You can consider this step as an investment not only for you but also for the future of your loved ones.
Why choose DMCI Homes?
Buying a ready-for-occupancy condo from a reputable developer like DMCI Homes is a good investment. Here are Five reasons why:
- DMCI Homes condominiums are finished to a high standard, with top-quality fixtures and fittings.
- The developer has an excellent reputation and is known for completing projects on time and on budget.
- Since these are pre-owned properties, you can often get a good deal on them compared to buying a new condo development from the developer directly.
- DMCI Homes have a penchant for finding quiet spaces in the middle of bustling areas of metro manila. This means that while all their properties feel like sanctuaries, these properties are also near malls, schools, hospitals, grocery stories, and the major transportation hubs in the city.
- DMCI Homes has been known to maintain its properties well so that they are always in good condition even after decades of use. DMCI Homes also ensures that the value of their properties rise through the years
Those are just a few of the many perks that you will be having when you decide to start investing in a ready-for-occupancy condo. For ready-for-occupancy condo design tips and tricks, just follow DMCI Communities for more details.