Investing in real estate

Updated April 03, 2009 12:00 AM

MANILA, Philippines - Buying a home is important because this is where you will live, retire or raise a family. Depending on the choice you make, your new home can also be an investment. The 150-square meter lot you buy today may cost you only P7,000 per square meter but 10 years from now, the price may double.

Putting money in real estate has become popular over the past few decades and is a common investment vehicle.

“The real estate market has plenty of opportunities for making big gains,” said Marilu Alferez, senior vice president and general manager, Robinsons Land Corp. (RLC), Housing and Land Development Division.

Vineyard Phase 4, which broke ground recently, is the fourth part of RLC’s real estate development in Dasmariñas, Cavite. The 72 hectares of prime development, a joint venture with Vine Development Corp. has a sense of “isolation” while being at the center of things.

A reputable real estate developer with an excellent track record in terms of delivering projects on time and using high-standard materials for its projects is a given.

Inspect the home or lot you are buying, Alferez said.

“If you are buying a home, look beyond the front door. Open and close all the windows, check for signs of water damage and inspect all electrical sockets. If you are buying a lot, look at the area’s drainage and ask local residents if there is any flooding in the area. If you can afford it, get an independent inspection.”

Another factor to consider, said Alferez, is the quality of the development.

The rolling terrain gives Vineyard Phase 4 a character of its own as RLC incorporates upscale homes and amenities with the natural beauty of the surroundings.

Alferez explained that Vineyard is a master-planned community that consists of 2,500 residential and commercial lots.

“Thus, it is designed with a specific market in mind and every detail in that community is created to be attractive to the market. There is a focused purpose,” she added.

The fourth consideration is location.

“Is the location desirable? If you have children, you need to know what school district the house is in. Find out how long the commute is for you to get to work. Are you going to spend a lot of time in the car?” Alferez pointed out.