Homes that are marketed as being “unfurnished” do not include any kind of furniture not beds, not couches, not anything in their interiors. They might have a refrigerator, stove, or dishwasher, as well as a dishwasher, washing machine, and dryer in one unit. On the other hand, it’s possible that some people don’t own any appliances at all.
Many people have found that real estate investment may be a rewarding second career path. This is especially true if you’re planning to hold on to a property for the foreseeable future and hope to profit from the rise in value that comes with such an investing strategy. Some real estate investments carry the risk of financial loss if things go wrong.
As a direct consequence of this, a large number of financiers are actively searching for fresh business prospects. Real estate is consistently regarded as one of the greatest options for a variety of reasons. Putting your money into this active company will provide you with a number of benefits, some of which will be more apparent to you than others; however, all of them will be to your advantage.
Purchasing a Philippine house and lot without furnishings
- The value of a home can be affected by a variety of factors, including its location, the availability of convenient amenities, the reputation of the builder, the quality of the materials used, and the proximity to various services. The market value of the property is also impacted by how far along the process of completion it is or how quickly it can be occupied after it is finished being built. The terms “completely furnished,” “semi-furnished,” and “unfurnished” are the ones that appear in real estate listings the most frequently.
- If you want to produce a profit from the sale of your house and lot in the Philippines or from the rental fee that you charge, it is essential that you select the course of action that generates the highest return on investment for your money. Because of this, you could be considering whether or not to leave your apartment fully furnished when you sell it. If so, this is a good idea.
Why It’s Better to Buy an Unfurnished House
If you buy a house that is not equipped, you will have full creative power over how the inside is designed, especially if you choose to decorate it. You have the potential to paint the walls in hues that have significant meaning to you, to hang artwork that will make an enduring impression, and to choose furnishings that match the design style that you have developed for yourself through time.
The purchase of an unfurnished home and lot in the Philippines offers a number of benefits to people and families who are looking for a place to call home permanently in the Philippines. In addition to this, it is an ideal budget house and lot investment for those who are interested in the real estate market.
- Lesser total mortgage loan
If you choose apartments or houses that are not furnished, you may be able to save money on your mortgage. If a room is rented out but it is not furnished, the tenants may choose to purchase their own renter’s insurance to protect their belongings. This results in a lower annual premium for the owner’s insurance.
- Lower overall costs for taxes and insurance
A home that is unfurnished often has substantially lower property taxes and insurance premiums than a home that is fully furnished. By requiring renters of unfurnished rental homes to insure their own belongings, property owners may be able to reduce their overall insurance costs.
- Does not call for a high number of inspections from the owner
Owners and property managers of unfurnished units may need less attention than those of fully furnished apartments. This is because the turnover rate of renters in unfurnished flats is lower, and because there are less complaints that need to be addressed.
- Increases one’s sense of belonging to the community
Tenants who are responsible for the interior design of their own apartments have a greater propensity to remain in those apartments for longer periods of time and to be more dependable tenants overall. Your investment returns may become more consistent and predictable if vacancy rates fall below their current levels.
- Comparatively safer than equity investments
Because of the market’s tendency to continually increase in value, investing in real estate, particularly in properties that do not have their own furnishings, is a better option than betting on the stock market. In contrast to the price of stocks and shares, the value of real estate is less likely to experience significant swings.
If you already own furniture like a bed, couch, table, and other household essentials, purchasing an unfurnished house for sale may be one of the most advantageous options for you to consider. The cost of an unfurnished home is far lower than the cost of a fully equipped home. In addition, an unfurnished home allows you to decorate it anyway you like, and since it is empty, the process of decorating it is simplified.
Negative Aspects Involved in Purchasing a Home That Is Not Furnished
Students and working professionals on a short-term stay who need to travel frequently are not the greatest candidates for unfurnished houses because of the difficulty they could cause while packing up and leaving. Nevertheless, it is essential to keep in mind that purchasing a home that is unfurnished comes with a number of drawbacks that should be taken into consideration.
- Lesser rental price
It is inevitable that the monthly rental rates for unfurnished residences will be cheaper than those for furnished homes. As a direct result of this, the total income from the property as well as the rate of rent increases have both slowed down.
- Taking on the financial burden of repairing damaged walls or fixations
In point of fact, something like this happens rather frequently. When moving furniture in and out of a house, even the most professional movers are bound to dent a wall at some point, whether they are installing a door jamb or a water heater. This is unavoidable. By withholding all or part of a security deposit or by coming to an agreement with the moving firm, property owners may be able to reclaim some of the costs connected with this kind of damage and reduce their financial burden.
There are a lot of developers in the Philippines who provide unfurnished homes, but not all of them are in the optimal location for an investment like yours.
You and your tenants will have the highest possible level of accessibility, convenience, and movability in the area if you choose to invest in Bria Homes, which is the most reliable brand of affordable housing in the Philippines. Bria Homes are constructed in strategic locations across the country in a variety of cities and municipalities.
Its reasonably priced house and lot for sale are ideal for first-time investors as well as those looking to make a real estate investment in the country that will be held for the long term.
Just visit Bria homes (bria.com.ph) for more info!!
Written by Bermon O. Ferreras
