8 Reasons For Buying a Ready-For-Occupancy Unit
Ready For Occupancy (RFO) units are properties, mostly condominiums, that are available to move in anytime you want. They are usually within business districts and universities making them an ideal real estate purchase for investors and aspiring property owners.
Although pre-selling comes off as more practical due to its lower selling price, buying an RFO unit also has a number of benefits.
1. Ready for property tour and inspection
What makes condo hunting more fun is when you get to see and experience the unit right! RFO units are open for visit especially if you want to check the actual unit size, its condition, view and other features.
2. Project is fully constructed and ready for turnover
Ready for Occupancy units are already finished, fully constructed (may also be fully-furnished) and ready for turnover. You do not have to wait for years until you can move into the unit.
3. Get special discounts
Who says pre-selling units are the only ones who can give you the best deals? Some real estate companies give special discounts and easy move-in promos for those who will avail an RFO unit!
4. Flexible payment options
Most RFO units offer flexible payment terms including rent-to-own, which is also known as lease-to-buy. That way, you can move in right away, pay it every month until the entire amount has been paid off.
5. Easy move in as soon as payments and paperwork are settled
One of the best advantages of an RFO Unit is the ability to move in as soon as possible. As soon as all the paperwork and requirements are submitted and signed, and payments are already settled, you can immediately move in.
This is ideal for relocating families and individuals, students who are looking for a place to stay near their school, expats and immigrants!
6. Access to the best amenities
When you buy an RFO unit, you get to enjoy your private space in the soonest possible time and get the privilege to use the condo amenities at the same time. Condo amenities include a swimming pool, fitness center or gym, function hall, to name a few.
7. Brings out your creativity
Most RFO units are bare which gives you the opportunity to choose your preferred palette decor and furniture and be as imaginative and creative as you can in personalizing how it.
8. Ready-made investment
Investing in real estate is a good decision especially these days that urban living is becoming more and more in demand.
You can either use the property for as long as you need it and consider renting it out or re-sell it in the long run. And as most RFOs are located in prime areas that are within the business districts and universities, it has a greater chance for value appreciation.
Purchasing an RFO unit may cost higher and require a significant amount of down payment, but with all these advantages, it can be a good idea to consider buying one. Especially if you’re aiming to move in immediately.