|Buying Property Tips#1: Choose the Right Location|
|Before you choose a location, it is of utmost importance that you consider the development prospect of the area. Other factors to consider here is crime record of the area, availability and nearness of public facilities and utilities.|
|Buying Property Tips#2: Study the Local Market Dynamics|
|It is important to get well familiar with the local realty market. Learn the variation in property prices by street. Don’t shy away from asking a few realty investment agents questions to get better insight on the matter.|
Most of those who have been to Tagaytay cannot help but want to live there. This applies to both local and foreign visitors to the place. It is not that difficult to understand why. According to them, here are the top three reasons why they want to take up residence in the peaceful and magnificent city of Tagaytay.
Tagaytay offers a refreshing reprieve from the city heat.
Because of its high elevation, Tagaytay continuously enjoys temperatures that are roughly 3-5C lower than the temperatures in the lowlands or in the city. This makes it an ideal getaway place during the smoldering summer or simply during seasonal dry periods.
Throughout the whole year, Tagaytay would register an average of around 23C only – a far cry from Manila's 27C which even spikes up to a few degrees above 30. It's relatively lower humidity and ever present winds also help make Tagaytay climate very attractive and appealing.
Tagaytay showcases a uniquely majestic view.
|Buying Property Tips#3: Choose the Right Property|
|Getting the right property right away is quite unlikely. First, you need to be clear on why you want to buy an investment property. After that, you will be able to make right decision based on factors like remoteness or accessibility of the property.|
|Buying Property Tips#4: Do the Math Properly|
|Get a precise idea on the value of assets you have available. If you are investing in rental property, make sure you can easily cover the mortgage payment through rents. Additionally, get a clear idea on the appraisal value of the property beforehand.|
|Buying Property Tips#5: Consider Additional Expenses|
|When purchasing an investment property, it is not only the selling price that investors need to consider. There are various additional expenses such as property tax, home owner’s insurance, repair & maintenance that must be considered.|
With a front row seat to the majestic Taal volcano (sitting serenely in the middle of the mysterious Taal lake), Tagaytay offers a view that is quite difficult to match. In fact, even foreigners who have personally witnessed Tagaytay's picturesque background find it difficult to describe in words. The most commonly used description in the attempts though is breathtaking.
Knowing the geological tale that gave rise to the ominous but magnificent caldera does nothing to dampen the scenery. In fact, it only adds more awe to the rich history that carved Tagaytay into the map of the Cavite province.
Tagaytay offers wide variety of establishments.
Because the City of Tagaytay caters to a lot of tourists, both local and foreign, a wide variety of establishments have been put up in and around the place. In fact, establishments ranging from fine dining restaurants in Tagaytay to world-class hotels can be found in the main stretch of road connecting the city's two major ends. This means that you don't have to go out of the city for anything because everything you will need should be no more than a few blocks from where you are staying in Tagaytay.
Fortunately, this also means that Tagaytay real estate is on the rise. With more of the city getting commercialized every year, prices of land there are bound to go up, so this presents a huge investment opportunity for those who are willing to try. Besides, with an awesome view, and a climate that beats air-conditioned temperatures, there is nothing to lose, right?
|Buying Property Tips#6: Inspect the Property|
|To ensure that you are getting everything you are paying for, a thorough inspection of the property is essential. Besides ensuring that you are not overpaying, a rigorous property inspection also gives you a good estimation on what the additional expenses might be.|
|Buying Property Tips#7: Pick the Right Financing Option|
|While interests on investment property loans are tax free, some borrowing costs aren’t immediately tax deductible. Knowing that, and structuring your financing in accordance is crucial. Don’t hesitate to ask for help from a financial advisor.|
|Buying Property Tips#8: Invest through Equity|
|One of the best ways to purchase an investment property is to leverage the equity of another property (including your primary home). This is a preferable way among regular investors, especially due to added tax deduction advantages.|