Are You A First Time House and Lot Buyer in Baguio? Your Ultimate Guide
Whether you are looking for a newly built or used property for residential purpose, it is always best to very cautious. Not only because we are talking about money or an investment, but because it will be your temporary or permanent home with your loved ones. It has to be something worthy and lasting. You have to be very sure about its overall quality in relation to your needs. You have to come up with the best well-informed buying decision. And so, we have created an ultimate list of pre-buying tips. You can use this as your guide or starting reference when buying a house and lot for sale in Baguio City.
1) Ask whether the community has a good water supply and sewer connection. A stable source of clean water is a must for survival and comfortable living. Sewers are vital to maintain cleanliness and hygiene, keeping everyone away from any sickness or disease.
2) Check the electricity and communication facilities in the area. Does the community experience rotational brownout? Do they have cellular sites for mobile phone companies? Do they have internet source available? These are essential for a hassle free lifestyle.
3) If by any chance, the house and lot does not have proper access to public road, there has to be a road maintenance agreement. You know, private roads require maintenance, which are not obviously covered by public authorities. All of you who are residing in the private neighborhood must come up with an agreement to cover any repairs and other maintenance requirements.
4) If ever the house and lot is still under development or construction, ask about the restrictive agreements. Request for a copy so you will know the restrictions as to the minimum size of the house, the allowable improvements you can make, and others. You know, you might be prohibited to extend your house or what.
5) Go to the city zoning department and ask whether there is an existing plan or project on the area such as a road widening or creation of new roads and the like.
6) Hire a lawyer to check the legality of the deed of sale. The land or the house and lot might have been subjected to another sale before yours. Another possibility is that it might have been under a mortgage or what. Make sure that the house and lot is totally yours, without any unwarranted obligations or claim of ownership from others and so on.
7) Look for a house and lot that is within your means or budget. It is recommended that you buy a property worth around thrice your annual income. So if for example, you are earning 500,000 pesos a year, then you can go for a residential investment worth 1.5 to 2 million pesos. But of course, if you will be qualified for a housing loan, then you can adjust this amount.
8) Check whether the house is near government agencies or public institutions such as hospitals, colleges, church, and more. Consider these before your other social needs.
9) Get a real estate agent in Baguio City or a broker. They know the ropes of real estate investments so they can help you find the best residential property and give you more expert buying tips.
10) If you can still accommodate hiring a home inspector into your budget, please do so. Inspectors are engineers who know the fundamentals of housing and what makes it suitable for living. They can also give you a diagnosis whether the house and lot is worth to buy considering its possible problems and more.
Good luck in your search!
Here are a few hottest real estate investments too:
· Condominium for sale in Baguio City
· Apartment for sale in Baguio City
Want to Buy a House and Lot and Other Property in Baguio City? 5 Easy Steps
A recent survey shows that many people in Philippines would like to have a house and lot or a condominium unit in Baguio City where they can stay and relax, away from the noisy and polluted streets in cities, and at the same become one of their investments.
But why do you think they love to stay in Baguio?
Well, other than the fact that it is the Summer Capital of the country, more and more people, both natives and foreigners, are choosing Baguio because of its rich cultural heritage, natural wonders, laidback communities, affordable and quality housing, urban and rural lifestyle combination, and of course, cool crisp climate compared to the other cities and municipalities all over the Philippines. So, no wonder why you are also looking forward to live there.
If you are planning to buy a house and lot for sale in Baguio City, a condo unit, apartment, and other residential real property, you can refer to these 5 major steps:
First, look for a real estate agent.
To emphasize though, don’t just look for a broker, but search for a professional, licensed, and highly experienced real estate agent in Baguio City. Understand that just like any other areas in the country, the buying and selling of real estate in Baguio is subject to existing property laws. Now, if you want to make sure that the whole process is valid and legal, find a broker who has a good grasp about the Philippines property rules and regulations. Most of them are actually those with previous experiences in Baguio’s real estate sector. Highly recommended are the expert agents from Passion Magnet Marketing Realty, Incorporated.
Second, stay at your chosen area for a short period.
Being in the place is totally different than looking at it on the internet. Although you can always trust your broker concerning the quality of living in the community where the condominium for sale in Baguio City or other property can be found, it is best to have a first-hand experience for a better, well-informed buying decision. So, it is highly recommended that you stay there for a week or month. See whether or not the lifestyle suits you. Explore all your options, compare places, and mingle with the people beforehand.
Third, finish your homework.
Before you commit to a purchase, make sure that you have thoroughly researched about the place. Ask advice from friends and the locals, read relevant magazines and news, and check out the academic institutions, government facilities, and modes of transport, existing businesses, and career opportunities there.
Fourth, make sure there’s good supply of water.
When looking for an apartment for sale in Baguio City or other real estate investment, it is extremely necessary that you check the water source or supply in the area. Water is actually gold in the city. Because of its topography, clean water is hard to find. But some properties have independent supplier of water.
Fifth, get a property lawyer.
Although your real estate agent can give you a comprehensive explanation of any legality that can be found in housing contracts, property lawyers can go beyond and are experts in identifying inconsistencies and others.
All the best in your real estate investment!
Thinking about buying your own house and lot in the Summer Capital of the Philipines? Well, Baguio’s is actually one of the few cities in the country that has an efficient system in real estate transactions. So buying a house and lot for sale in Baguio City for sale is absolutely hassle free. What can be challenging, however, is finding the best real estate investment for you. Consider that there are now many property developers all over Baguio aside from the most trusted Goshen Land Capital, Incorporated, consistently awarded as Developer of the Year.
Overview of Baguio’s Real Property
Baguio City is rich not just in culture but history. It was then a town founded by American colonizers back in the nineteenth century, which only had around 30 thousand occupants. It was originally designed to accommodate stressed out American armies. In other words, Baguio was meant to be their ultimate place for comfort and relaxation outside Metro Manila. This is primarily because of it’s cool climate and untouched natural wonders.
Today, there are 300 thousand plus residents in Baguio, foreign and natives combined. Together, they are occupying 57.49 square kilometers of land in the city. With such smaller land area compared to other real estate destinations in the Philippines, there are only limited good places to choose from. Despite of this, however, the real estate sector has always been booming. This just shows that Baguio is indeed a premier destination for many, a very attractive city to reside or retire. And the most recommended are those in Session Road, Leonila Hill, Mary Heights, Trancoville, Kisad Road, Lombard Hills, La Trinidad, and Irisan.
Attributes of Baguio’s Real Estate
There are vast tract of lands in Baguio that are still undeveloped. You can see mountainous areas covered with green trees and bushes. As you go along, you’ll see uninhabited lands with cell or electric towers being their landmark. However, many people are competing to find a place in established residential and commercial neighborhoods. The reason of which is that these places already have the necessities they need for a comfortable life including shopping malls, schools, and more.
Every year, there is an increase of people in Baguio. There are people from the lowland areas who come and reside in the city, students who are studying in any of the prestigious colleges and universities, and foreigners who chose to retire or pursue further education. Take note that majority of the foreign nationals are studying English in Baguio, a large percentage of them are Koreans. These foreigners are looking for condominium for sale in Baguio City or apartment for sale in Baguio City, and more.
Many of these foreigners buy a property because the price is very reasonable and that they can always sell it after they graduate. The cost of condo units, apartments, and house and lot is very affordable compared to their country of origin. And, it’s easy to find a professional, multi-awarded, and licensd real estate agent in Baguio City.
Top Investment Opportunities in Baguio City
If you are planning to invest in the City of Baguio, here are a few economic areas you might like to explore.
Visitors land in huge numbers all throughout the year especially in the months of December, February, March, April and May. You’ll be amazed to see the airports, bus terminals, and gas stations crowded with local and foreign travelers, which is a big help to the public and private transportation sector. Tourists, which mostly in groups (either families or group of friends), are all excited to visit the famous landmarks and points of interest in the city, join fiestas or festivals and celebrations, eat at local restaurants, enjoy Baguio’s natural cool climate and wonders, mingle and take a picture with indigenous groups, and many more. Lodging houses, apartments, condominiums, and even boarding houses are always full and in demand. With the booming tourism, real estate investment in Baguio City is surely a wise investment. Investors are able to get a big return of investment as soon as they start operating. It’s one investment sector that goes along with Baguio’s tourism industry.
Land and building are a highly valuable investment in the City of Pines and Baguio is by all accounts an exceptionally dynamic business with properties changing hands pretty regularly. Be that as it may, one angle that is especially dynamic, more than property deals is rentals. With new business being set up constantly, there is a really extensive need for real properties and real estate agents in Baguio City. Here are a few links to help you find your first residential real estate investment then:
Education is one of the most practical investments anyone can have in his or her entire life. It’s something that no one can take away from you. And if you want to make sure you’ve having the best in education, Baguio can give that to you. The city is a home to world-class top performing academic institutions including the country’s flagship school, the University of the Philippines. Primary to tertiary and vocational schools are an exceedingly lucrative business in Baguio, drawing in Filipinos from Central Luzon and Ilocos area, the main reason for making the Central Business District so popular. You can see numerous food establishments and residences around along with it.
The city has an Export Processing Zone Authority (PEZA) in the Loakan range where tremendous plants for PC parts, plane direction frameworks and article of clothing industrial facilities proliferate. Different exporters have production lines in different zones in Baguio.
It must be noted that the locals or the Cordilleras are exceedingly talented in making objects of craftsmanship, for example, wood cutting, furniture making, and weaving. So, if this is the region you are looking into, you won’t have any problems finding professional and gifted laborers.
There you have it, the top investment areas in Baguio. All the data are based on my years of living and working in the area so it should help you decide better.