With over five years of hands-on experience in the crazy fun and intimidating world of real estate investing, I’ve had the privilege of assisting countless property seekers, just like you, on their journey to find the perfect residence or investment. Throughout my years in this field, I try to pay attention to the questions that will keep many interested buyers up at night right before they make a decision. And one of the questions that always come up is how to choose between Developer and Resale Lots. Specifically, they always ask questions along the lines of “Why are the prices so different?”, “What’s better, Resale or Developer” etc. etc.
But first let’s discuss the difference in case you aren’t yet familiar with these 2 types of property options in the real estate market.
Developer Listings:
- Definition: Developer lots are properties that are typically newly constructed or developed by a real estate developer. These properties are often part of a larger housing project or development community.
- Characteristics:
- They are brand-new and have never been occupied.
- If its a house, they are usually built to modern construction standards and design trends. Developer lots often come with the option of customization and selecting specific features and finishes.
- If its a lot, in some cases the developer may provide clients with necessary support documents such as topography and grass cutting.
- Payment terms may include in-house financing options provided by the developer stretched out for longer time periods, and in smaller increments.
Resale Listings:
- Definition: Resale lisitngs, on the other hand, are properties that have been previously owned and occupied by individuals or families. These properties are being sold by the current owner or a real estate agent on their behalf.
- Characteristics:
- They are pre-owned properties, which means they may have some wear and tear or require renovations if it is a home.
- Resale homes may offer more diverse architectural styles and features, reflecting the individuality of the previous owners.
- These properties often come with established landscaping and amenities.
- Financing for resale properties can typically be obtained through banks or traditional mortgage lenders and be have more expensive downpayments/monthly payments, but overall cheaper in the long run with below market price per square. In fact, some resale sellers may require cash payments but at 50% off compared to developer listings.
- Because resale lots are often significantly less in TCP, it is ideal for those looking to flip lots, buyers can buy cheap and sell higher for a profit.
- Depending on the popularity of the village and their inventory, there are vilages where resale lots are more desirable because they were already bought by a previous investor, where some developer lots are the “latak” lots that are more challenging to sell.
Therefore, I always tell my buyers that the choice between developer lots and resale lots depends on various factors such as individual preferences, budget, timeline, and the specific advantages and disadvantages associated with each type of property. Developer lots are appealing for those who want a brand-new home with modern amenities, while resale lots can offer unique character and may be more budget-friendly for some buyers.
The Initial Allure of Developer Properties
Many clients initially come to me with their hearts set on developer-fresh properties, drawn by the allure of brand new inventory. However, sometimes they change their mind once they have seen resale listings at lower price per square. And sometimes the opposite happens, when a buyer originally looks for a resale property but during negotiations with a seller, realize they would rather deal with an established developer that can offer friendlier terms despite a higher TCP.
Guiding Your Choice: Developer vs. Resale
Because of all of these variables at play, my team and I try our best to help our clients come to a conclusion that best fits their dreams and objectives. At PropertySurf we actively search for the best resale listing in Antipolo and we currently have an extensive selection of over 300 resale listings, while also maintaining our relationship with major developers in the area who provide us with their latest inventories.
Our Wealth of Resale Listings Awaits You!
To initiate your journey toward homeownership or your next investment, please don’t hesitate to reach out to me at 0927 957 2503 or send an email to propertysurfrealty@gmail.com. I’m eager to share my insights, provide personalized guidance, and assist you in making the choice that aligns best with your unique goals and preferences.
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