When you finally decide to Buy a Home, it is important to have your due diligence in check. You should know that real estate properties as they are more developed, becomes higher in price. A good strategy to keep in mind when buying a home is to look for pre-selling properties.

Buying pre-selling properties be it house and lot or condo during its pre-selling period has a set of advantages and disadvantages especially for first time buyers. During the pre-selling stage, properties are usually cheaper as developers tend to give a discount ranging from 10% to 15%. Keep in mind that as the property gets completed, the prices also tend to get higher.

For houses, the more phases of construction is built the price go higher. Same goes for condos where the price gets higher as more floors are completed or for low/mid rise projects, the more buildings are completed.

When buying a property pre-selling or not, keep in mind the location, location, location. You may also want to do a background check on the reputation of the project developer.

Buy a Home through PAGIBIG Fund

For certain countries such as the Philippines, you can make use of the pre-selling period to your advantage if you're taking it into a housing loan through PAGIBIG, the housing development mutual fund of the Philippines. This is because some housing project developers allow you certain number of months to pay for the equity first (percentage amount paid to developer) before applying your for a loan and start your monthly amortization (the remaining balance paid to the government on installment). If you choose to buy on an already completed project and choose PAGIBIG as your loan option, then you'll have to pay for both at the same time. You will have to clarify with your developer as there's still a chance that the two will overlap at a certain time.