Major Qualities that Determine the Market Value of Your Home

Identifying the future market value of a real estate property can be tricky. After all, there’s no foolproof means of identifying how much home properties will cost years from now.

Experts could lay out predictions based on our country’s current economic growth. However, this still has its own considerable margin of error. This is why we bring our attention to the notable factors that have helped shaped the market value of the current homes for sale.  Take a quick look at the list below.

Craftsmanship

This has something to do with the artistic design of your place. Detailed and great-looking houses are favorite properties of clients who pay priority to the aesthetic appeal of a home. This is exactly why a lot of current homeowners are looking for the chance to renovate their places.

Those who have plans on selling their properties in the near future are likely to invest in the beautification of their homes to make sure that it would look attractive on prospect buyers even after years of usage.

Amenities

Many house for sale at present lack the basic furniture needed by residents to settle down. However, there are units, like the Ayala land properties that are already full furnished and ready to house buyers. All the properties inside the house such as sofa set, music component and furnished bedrooms can all contribute to its overall pricing.

Location

Strategic location has always been a crucial factor in any real estate business. It is an unspoken rule that the more accessible the property is, the higher is its price.

Therefore, homes that are located near schools, malls and train stations or major highways will have the advantage in pricing. After all, buyers are likely to favor homes that are accessible and convenient for their work.

Safety and Security

This doesn’t come as obvious as the first three but it’s one vital consideration that affects the estate’s market value. Houses that are located on a safe neighborhood is more sought after compared to those situated in areas with high crime rates.

In fact, many buyers are now using this factor as a determining factor in choosing their home. This is also why subdivisions and villages are highly salable. Given the area’s tight and advanced security, homeowners feel confident of their safety.

Comparable sales

This is otherwise known as the market data. It refers to the current selling prices of synonymous estates at the time of purchase. As we’ve said, this can be tricky. The real estate industry is fluid and there is no guarantee that the current prediction will give you a hundred percent accuracy in the future.

If similar properties are priced low during the time when you decide to sell the property, there is a good chance that you will receive a low offer too.


Owning a house is a dream by many. However, recent records have shown that more homeowners are now selling their properties at a lower price. While the current cost is subject to change, one could say that boosting the first four factors in our list could at least give you an edge against the competition.

Before selling your home, it’s best to consult experts who can assist you in the whole process and could advise you on the best way to optimize the sell. Their expertise in the technicalities of real estate can also come in handy when you cannot decide which the best buying offer is.

As early as now, it’s good to start evaluating the good points in your property as well as those that need improvement.  Take care of your real estate property and boost its market value!

Major Factors that Affect the Real Estate Market this 2016 and Beyond

The real estate is one giant business. It encompasses everything that has something to do with land and infrastructure. It’s size and global demand is the very reason why many investors are attracted to put their money on the business.

But with the increased number of entities who choose to start their own businesses in this industry comes more challenges that are swaying the stability enjoyed by this sector. Here are the major factors that are affecting and helping shape the future of this industry.

Change in the quality of demand

 We’re not new to the high demand of private residences. Families are now looking for the chance to live in their dream house and the real estate business is more than willing to provide land and space. However, the current rise of foreign businesses operating in the country also gave way to the emergence of different real estate demands.

A good example would be those office leasing request and government establishments. There is a visible spike in the demand for this type of infrastructures which also forces the real estate owners to reevaluate their priorities.

 Debt burdens

With loans that are already becoming very accessible, many people resort to borrowing money from banks and even from private entities to fund something. There’s nothing wrong with borrowing money. However, this also becomes a long-term burden for people who pay.

Potential clients who might have been interested to buy a land property would be discourage to do so unless they have paid the entirety of their debt. Plus, there seemed to be a growing number of people who chooses to live together with their families to reduce the expense in buying a home.

Global market change

Just like any trend, the status of real estate changes. This is highly dependent with factors such as local and global demand.

Every time there is a considerable change that affect the business, prices and supply could also change.

Taxes and other payments

Business owners who runs any real estate ventures have their own responsibility when it comes to paying something. This can also be affected by the taxes they’re mandated to pay. Same goes for owners who wish to buy a new home.

The expected taxes or mortgage could become a burden especially if one still has debts to pay.

Country’s economy

Investors are generally attracted to countries with robust and promising economic growth. However, this is largely affected by the current condition of a place’s economy. A country’s current economic policies could largely dictate the direction from which real estate magnates should go.

Likewise, it could also spell out the amount of investment a venture would likely attract.

Industrialization

Last is the current status of industrialization. If we try to look out the changes in our society compared to twenty or thirty years ago, you’ll see a significant change.

Today, we see more buildings and establishments being constructed to service different purposes. The more industrialized the place is, the higher the possibility of encouraging business owners to set up their own.

After all, more people would mean more opportunities to sell.

Despite the challenges experienced by real estate, it’s undeniable how its still considered as one of the leading industries.

In the Philippines, the demand is pretty much high and the capacity of owners to supply is also competent. So you shouldn’t be surprised to see more incoming construction around the major cities. Considering Philippines’ healthy BPO industry and generally low-cost living, more and more foreigners are expected to divert their attention towards us and build company branches.

 

 

Smart Things to Know About Philippine Real Estate

Over the years, lots of businesses have taken on the spotlight for being the next big thing in the industry. With the onset of digitalization, this trend has gone on invading not only the first world countries but basically any place around the world with a healthy market potential.

Among the most prolific industries at present is that of real estate. With many people now wanting to own their own properties across major cities, it’s no longer a surprise to see a surge of companies offering land properties at different cost.

Same trend can be observed in the Philippines.

As of 2015, reports of the country’s growing GDP and foreseen good potential has gained the attention of lots of foreign investors from different countries. With this increase in investment comes the growing need to put out establishments for each company branch.

Here, we see a domino effect affecting not only the big company owners but even those regular workers who are encouraged to secure their own space in the city just near the company they work for.

This drastic increase of real estate demand can be considered as good news both for local and foreign investors. By investing some of your assets to the venture, you have a high potential of growing your money in line with the increased sales in land too!

To get an overview of how these land selling is paving, here are few vital information provided by Rappler.

  • 12% of the entire real estate project is devoted to socialized housing. These are properties owned by the government intended for the less privileged citizens of a particular community. Those housing programs you hear about are part of this category.
  • 16% belongs to the low-cost housing category. These are those properties that most of the working Filipinos can afford. A lot of them can be seen in urban areas where the center of the country’s workforce is mostly located.
  • 9% is part of the middle-income housing. These are those houses or properties that are bigger and more conveniently situated than the low-cost properties. People who have higher salaries can afford these properties.
  • 23% are part of the so-called high-rise residential condominium. You see a lot of this in Manila, though Cebu is catching up well. These are those condo units usually sold out to businessmen and even foreigners who wish to stay in the country for a certain period of time. The place doesn’t need to be sold out. Some owners prefer having their properties leased.
  • 40% of the real estate business is those land masses that do not fall under the previous categories. These could include lands that are not yet developed. Those that are vacant and are yet to be sold out could fall on this category too.

Judging from the good performance of the Philippines in terms of its overall economy, we see why there are many business owners who prefer to setup their companies here. For aspiring real estate investors, this could mean a lot of things.

Just make sure that before jumping into any kind of investment, you have first verified the credibility of the company you wish to invest upon. There are several huge real estate magnates in the country and they’re very much open for investors.

However, the challenge comes on how you could get in touch with the right agents to have your money invested on the right project.

Needless to say, you’ll have to learn about the risks and benefits of these projects too. You must understand that at the end of the day, investing is a risk and there’s a huge potential of losing money. Weigh your options well and go for those who can offer a credible opportunity.

Four Advantages of Living with Extended Family

 

Family Portrait ca. 2000

“It is through our extended family that we first learn to compromise and come to an understanding that even if we do not always agree about things we can still love and look out for each other.” –Sara Sheridan

 

Close family ties and tight-knit relationships are two characteristics that are definitive of Filipino culture.

The typical family home of a Filipino does not only consist of the parents and the kids; but it also extends well beyond to the other relatives such as the grandparents, the aunts, and uncles (and in some cases, even the niece and nephews). It is for this reason that Filipinos foster a great relationship with their relatives as they have been known to see their formative years with them in the home. In fact, save for a different few, Filipino children are known to live in the family home until the day get married, and even then, there would be couples who would choose to continue to living with their parents or several in-laws. Well-meaning friends and relatives may offer some unsolicited advice about living independently and would regale you with stories as regards the wide liberty afforded by independent living.

True enough, there are a lot of benefits when it comes to living alone (no one to boss you around, free to make your own choices without anyone’s interference or disapproval, etc.—truly an ideal setup for a millennial to live. However, not everyone is fortunate enough to afford to live on their own and may have to continue seeking board and shelter under the roof of the very home they spent their childhood in. Here are some of the very great reasons for living with extended family in one home:

 

1.)    LESSER BILLS TO PAY

When you are billeted under one roof, regardless of whether it is a residential home such as anvaya cove or a condominium unit in east gallery place, the reality is you have to earn your keep. You cannot expect to keep on mooching off from your parents or relatives and in a sense; it would give you some semblance of financial responsibility by taking the initiative of paying a fraction of the bills. Sharing economic responsibilities would reduce the family’s money strain and would grant you a wider leverage over where your money goes.

2.)    YOU WOULD NOT NEED ANY HIRED HELP

Considering that there are more heads in one home, the division of household tasks would be incredibly easy. Additionally, parents would not have to worry about leaving kids with nannies or hired help as the grandparents can do it—a better alternative as these are people you actually trust. Similarly, young adults can take care of their older family members who might have special needs.

3.)    LEARNING FROM EACH OTHER

One of the many perks of living in a multi-generational family is hearing the many anecdotes our grandparents would tell us about their time during the Second World War, or even how the times were vastly different than it is today. In the same vein, younger kids would be able to teach them how to use the personal computer, social media, and other modern technology. This is also the type of relationship that would foster strong bonds.

4.)    THERE IS ALWAYS A FAMILY SUPPORT STRUCTURE

Living with extended family means that the adults can share their burdens, worries, and responsibilities to the other adults,  they can also ask for advice from older family members. Likewise, kids would have a closer relationship with their cousins as they would be able to routinely play with them while they are at home just as siblings would do. As a result, a cultivation of various values and shared principles will ensue and naturally, it would form a close family support.

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