Here’s a possible scenario, you’ve just decided that you’re now ready to invest in a real estate property in the Philippines. Out of great coincidence, you came across my previous post (which you may find here), which in a way convinced you more to invest in Philippines property. And at this point, with all those weeks, months or make that years of searching (or researching) over the web, you’ve narrowed down your option in one certain property. A property which you personally felt is really nice, has investment potential and financially manageable in terms of your budget. You’re about to make that BIG decision, after all, that’s your hard-earned money that we’re talking about. With that thought, I’ll ask you to please take a pause. And somehow, I’m hoping that what I’m about to share, will somehow help you make the better investment decision or the very least, avoid being a part of the “Bad & Sad Experiences Club” when it comes to property investment in the Philippines.
Given that developments in the Philippines are usually offered during the pre-selling stage. There are developments that are left unfinished and promised turn-over dates are delayed…
So, before investing your hard-earned money on any real estate developer, I suggest you be careful where to invest. And ask yourself the following…
1. Does the developer have a proven track record?
- This is not in any way intended to discriminate the new players in the industry, as there are “old timers” also, who have been in the industry for quite some time but still fails to deliver on their promise. It helps to look into a developer’s Corporate Reputation and Integrity before considering any of their offerings.
2. Do they follow strict standards to assure quality and on time delivery?
- Just like any other products or services, we are after what gives us “more value for our money”. A developer’s Commitment to quality (of their turned-over projects or developments) and on time delivery will determine the possible loss or return in your investment.
3. Do they have excellent property management?
- All property developments are created and meant to be aesthetically appealing and seem really nice. Be it in its marketing plans (brochures and AVPs) and even to the execution part. Considering that the developer have “good intentions” in mind, during the initial stage of the development’s existence, it may still be appealing and nice. But once the owners and tenants moves-in, and after a few years of wear and tear, that’s when the real challenge comes in. The Property Management will make or break the the future of any particular development. With that being said, the Reliability of the property management will determine the long term value of your property and it’s desirability in terms of the quality of living that the said community offers.
4. Will this property give me and my family value over time?
- Value of a property can be measured either monetarily in terms of property value or the quality of living experience that it offers (and the priceless memories that comes with it). And simply focusing on property value and possible appreciation, it can be determined, based from the earlier communities offered by a particular developer. How it is presently perceived and valued in the market? But since properties appreciates in value in general, the better question is “will it give me and my family a better value over time”? So always, go for something that gives you a better value for your hard-earned money.
5. Will I be proud of this investment?
- Any form of property investment is an accomplishment. We can start at something small or affordable, as a means to get to that end goal, of having what’s best out there. The good thing is we start at something. And at the end of the day, we all want what is BEST for our family and ourselves. So as long as we’re taking steps (be it small or big), towards our dreams and goals, of either giving the best quality of living to our family or best long term value for our money. You have every right to be proud of your investment and yourself.
And if you’ve answered YES! to all of these questions, with regard to the property that you’re considering? Go ahead and sign that dotted line or should I say that “blank space provided”. And allow me to be one of the first to say “Congratulations!” on your property investment.
Until next time, I hope that this post will somehow help you, make that better decision in your future property investments. And if you happen to have any comment/s or something to share, feel free to use the comment box below.
Thank you for dropping by and your time.