A Definitive Guide to Buying a Property in Baguio City

There’s a huge difference between renting an apartment and owning a house or condominium unit of your own. For one thing, you have the freedom to remodel or redecorate a house you own anyway you like. You don’t need to ask for permission from your landlord. For another, you can take out a loan (for business or other similar purposes) against the equity of your house. Thus, it makes perfect sense to make that investment today.

Another advantage of owning a residence in the Philippines is that there are lots of options to choose from.

• Off-plan housing units
• House and land packages
• Apartments
• Condominium units

Now, one of the best places to live in the Philippines is Baguio City, and why not? It is, after all, the “Summer Capital” of the country. This city is most popular to foreign and local tourists alike due to its cool climate all year round. The fact that it’s located in one of the highest places makes it the perfect retreat when you’re fed up of the noise and chaos of the urban jungle. Plus, you’ll find the best real estate investments in Baguio City. How so?

1. Commodities and utilities are cheaper compared to other cities, especially the Philippines’ capital, Manila.
2. Access to modern amenities is well within reach.
3. Top-class institutions and establishments.
4. Affordable real estate properties.
5. High return on investment is expected.

How do you own a house and lot in Baguio City or a condominium unit?

1. Consider your budget for a real estate investment in Baguio City. If you can’t pay for the property in full, you can look for a mortgage company that can lend cash. But be aware of the interest rates and the terms of the loan to ensure there won’t be any surprise charges in the future.
2. Search for suitable properties. Will you be living alone or with your family? Take this into account and look for a house or condominium in Baguio City that can accommodate you and your family comfortably.
3. Make the down payment and sign the deed of sale. Be sure to read the terms and conditions of the document before signing it.
4. Look for a property development company with a good reputation. An estate agent can make the whole process easier. They can help you find the best property to suit your needs. And they can assist in finding the best mortgage deal. But you don’t want to be dealing with conspicuous companies, so make sure you verify how legit the agency you are dealing with.

However, if you’re a foreigner, you can’t own a house and lot in Baguio City or any parts of the country, unless you yourself are a permanent resident or are married to one. This makes it ideal to buy a condominium unit instead. So consider your options today with the help of a trusted estate agent. 

When it comes to investments, the real estate market is proven to be least affected by inflation rates. Despite the housing bubble that occurred a few years ago, the property sector is still a major recipient of many investments from across the planet.

One of the major countries in Asia that bring multinational companies from across the Americas and Europe is the Philippines. This archipelago has been one of the top Asian regions that promise good returns on investments, making it an excellent destination to invest your hard-earned money in. This is especially true when it comes to its real estate market. 

The Philippines is made up of three major islands: Luzon, Visayas, and Mindanao. All of which have taken thousands of expatriates who have chosen this country to be their second homes in their care. And why not? Here, foreigners get to enjoy the best in life, whether you’re looking to retire, get married, open up a business or just spend an extended vacation. The country, being composed of 7,107 islands, is teeming with beautiful beaches, breath-taking mountainviews, and astounding flora and fauna. Yet it also offers modern-day luxuries, like world-class hotels, restaurants, nightclubs and entertainment centers.

But if you’re looking for a place that lets you get away from the hustle and bustle of the city life, then you have to choose Baguio City. It’s the coldest part of the country and one of the farthest holiday destinations. Yet it’s bursting with life with the many tourists that visit here once in a while. And of course, it has first-class amenities to ensure your stay will be all worthwhile.

So if you’re looking for the perfect place to settle down or retire, make your real estate investment in Baguio City. Here are some reasons to convince you why you should live and buy a house and lot in Baguio City:

1. Financial support for your investment. The local government and a number of property developers are offering great deals on property financing not only to the Filipinos, but also to foreigners. This means that you can easily own a house in this city.
2. Diverse array of properties to choose from. These include golf clubs, townhomes, villas, apartelles, and condominium unit in Baguio City. Thus, you’ll be able to choose your investment well.
3. Unbiased advice to expats and locals. Whether you’re setting up a business or buying a house, Baguio City is a place where help is readily available. As a result, you’ll be able to make informed decisions immediately, whether for property appraisal or estate planning.
4. Unparalleled surroundings. Baguio City is considered the “summer capital” as it is set in the mountains, providing the coolest temperature in the country all year round and the most jaw-dropping scenery. Yet it offers excellent shopping, education, health and sports facilities.

So if you want to invest your money and get a high return, then you should consider Baguio City immediately. 

A typical scene greeting commuters and drivers passing through the Tarlac-Pangasinan-La Union Expressway (TPLEX). Photo taken from inquirer.com

The creation of accessible, passable roads marks a great achievement in human history – allowing for easier travel and transportation of material goods necessary for the development of any prospective burg or town. In fact, one may argue that the economic advancement of any particular city lies in how easily accessible it is to the rest of the country, or even the world – and accessible roads make this a possibility. Is it any wonder, then, that governments put a lot of investment in the development and maintenance of important thoroughfares? 

The Tarlac-Pangasinan-La Union Expressway (TPLEX) is a good example of this. Having begun construction on January, 2010, the TPLEX is an 88.85-kilometer four-lane expressway that connects Central and Northern Luzon, with its southernmost terminal located in Tarlac City, Tarlac and its planned northernmost terminus currently slated to be at Rosario, La Union/

To understand the significance of this, one only needs to look at the existing major expressways in the country  - the South Luzon Expressway (SLEX) and the Manila-Cavite Expressway (CAVITEX) for example, connects the greater Manila Area to the Calabarzon region, allowing easier access between the two regions. This has allowed the Calabarzon region, specifically the province of Cavite, to see major boosts in industry, urban planning, and real  estate, as many businesses set up shop in Cavite due to accessibility and proximity to Manila, as well as allowing Cavite residents easier access to Manila where they can seek jobs and livelihood. In the context of real estate, this means that real estate investment is a wise idea, as many seek to live in the Cavite area. One only needs to look into the numerous house and lots up for sale and development corporations creating house and lots for families to settle into.

To cut to the chase, the development of multiple accessible roads into the Calabarzon area has given it a boost in economy and industry, which bodes well for the real estate industry, as it becomes a wise investment to seek house and lots to live in Cavite, for example. In fact, it becomes simply a matter of time until high-rise condominiums become a major real estate investment as well.

The implications these hold for real estate investment in Baguio City are immense. The TPLEX allows a more convenient gateway to Baguio City, which will undoubtedly lead to more people traveling to the city simply due to its accessibility. Similar to what is happening in Cavite, it will serve to boost Baguio’s (and all the provinces that surround it) economy and population, as many flock to the city, and businesses begin to thrive even more thanks to easier access for transporting materials via the use of trucks.

The end result, of course, is an increase in the economy of all of Baguio City’s industries, as well as its population. Much has already been said about the strategic location of Baguio City, and its importance to the area of Northern Luzon – and with the development of the TPLEX, the importance of house and lots in Baguio City, and even condominiums, or any other form of housing, becomes even more apparent. Real estate investment in Baguio City becomes important as more and more people flock to the city and the economy sees a sharp turn upward, and land space becomes limited and at a premium. As such, seeking a foothold into the city – whether it be a house and lot for a family, living space or condominiums to lease out for a student, or just a piece of real estate where someone can establish their own business – before everyone else gets to it becomes a necessity. After all, there’s only so much real estate to go around before everyone’s living in Baguio City.

The TPLEX opens up a lot of opportunities for Baguio City to expand and grow – and will definitely lead the city on the road to greater heights. A little investment into its future won’t hurt.

Baguio City: A Worthwhile Investment?

Consider Metro Manila: a sprawling, bustling metropolitan area, one of the most densely populated regions in the Philippines, with numerous economic and political infrastructures jam-packed into the numerous cities that encompass the great Metro Manila area. It comes as no surprise that the region, formally known as the National Capital Region (NCR), would be the capital of the Philippines and a cradle of many of its industries and political power, as many savvy entrepreneurs have multiple investments placed in the city.

With roughly 640 square kilometres of real estate, or 64,000 hectares of land comprising Metro Manila, one would think that the vast amounts of real estate would be enough to house all the businesses, residents, and many more that try to set up shop in Metro Manila, but in truth, Metro Manila is extremely short on space. Prices for condominiums and house and lots are on the rise, valuable real estate and land is short, and there simply is not enough living space and real estate to be home to an estimated 12 million people, not to mention the numerous industries, landmarks, and political infrastructure housed in the region. It’s no wonder that real estate investment in Metro Manila is a very lucrative and profitable idea, what with the very real threat of overpopulation and diminishing real estate space in the region.

Where does that leave the prospective resident of Baguio City? There is no denying that Baguio is shaping up to be Northern Luzon’s equivalent of Metro Manila – a cradle of foreign and national industries, a magnet for tourists both foreign and domestic, an epicentre of education thanks to the numerous Universities housed within the 5,750 hectares of Baguio City.  While certainly not as sprawling as the numerous cities that comprise Metro Manila, Baguio nevertheless attracts numerous people to its welcoming arms – and using up land, living space, and real estate for condominiums and house and lots, as a result.

Because of this, the availability of living space – affordable condominiums, house and lots – are at a premium in Baguio, as people from all over Northern Luzon flock to Baguio in order to study, seek employment, or establish their own businesses. This means that real estate is a worthwhile investment in Baguio – prime living space at a good location and easy access to all the necessities is at a premium, what with Baguio primarily being undeveloped lands and hilly, forested areas. It makes finding good living conditions, whether it is a house and lot for a family or a condominium for the up and coming yuppie out to make a name for himself, a difficult endeavour – and yet, it remains a worthwhile goal to look into real estate investment in Baguio City.

The strategic advantages of having prime real estate in Baguio City cannot be denied – either to be used as personal living space or to be leased out to buyers who wish to stay in Baguio City. As a hub for aspiring students, families seeking an urbane, yet oddly peaceful and natural living space, as well as businesses, having some investments in real estate in Baguio City is a good idea. Having easy access to condominiums and house and lots in strategic locations around and inside Baguio City means a strong foothold into Baguio City itself, long before anyone else.

By Michael Sta. Ana 

In developing countries like the Philippines, not everyone has the luxury to buy a condominium and a house and lot at the same time. And everytime, when one already needs a living space, that's the time that decision making is becoming a major concern.

Let's just say, you're blessed enough to have a 1 point something million peso budget to get your family their dream home. And for an instance, you are living in the metro and just could not decide where and what type of house you should buy. Aside from that, you need to consider each suggestion from all the members of your family on how to proceed with your money.

And now, here's the turning point. Let's say, you are starting to talk to yourself unconsciously: "What do I/we really need, a house and lot or a condo?"

To tell you the truth, you are not just the only person who have asked this kind of question. As a matter of fact, this type of decision making question can be like a puzzle or can be a hardcore math problem that you need to find what will the closest formula to solve this, for you to get the most reliable answer at the end of the equation.

Now, let us try to unravel the things that you need to think about. All you need is just a a pen and a piece of paper so we can start the decision making process.

When your paper is ready, draw an intersecting line as if you are creating a big X & Y axis or your drawing must look exactly like this: 

You might be asking me why I asked you to do this instead of having you just listen to my suggestions. It's because I want you to personally work on this while devotedly making sure that you are being honest about everything you write down to fill out the spaces.

Now, start writing down your thoughts. Start with the pros and cons. After finishing all the four sides of these boxes, sit down and review your answers. If one of these--the "House" or the "Condominium", gathered more pros, then possibly that would be the ideal one for you. Yes, as easy as this!

But the truth is, there's really no rule on how and what to choose between the two. A house and lot is good. A condo might be better or vice versa. These two types of living spaces are both acceptable depending on your family needs. Remember that the core of decision making lies on the hands of the buyer not on the real estate vendors. They're not the one who'll eventually live there anyway, so you must be extra careful before you put down your pen and paper and say, "This going to be it".

The X & Y axis of pros and cons thingie that I have shown you is actually not just for your condo/house decision making needs. You can also use this when the time comes that you need to choose: what would be the best design for your house, and even until the time that you need to think about the right wall color that would fit your taste. Easy, isn't it? 

And last but not the least, listen to what your heart will say... And that could be the greatest bottomline.