Because the Philippine real estate market is on a steady incline, condominiums and villages are being developed left and right in major cities of the country. Each developer offers competitive rates and promos to attract buyers and investors. As a homebuyer, you need to know what’s at stake when looking at pre-selling condos or ready-for-occupancy (RFO) condo or house & lot units.

A ready-for-occupancy condominium unit or house & lot is already completed and ready to be turned over to the new owner. Once the purchase is fulfilled, and all the necessary requirements and paperwork have been completed, the new homeowner can immediately move in. An RFO unit is a brand new unit left unsold during the pre-selling phase.

On the other hand, a pre-selling condo or house & lot unit is being sold before it is ready to be turned over to the new owner. In its pre-selling stage, the condo or house & lot is being sold in different stages such as before it is completed, during its construction, or even before its groundbreaking. Simply put, the unit is not yet built or is still under construction at the time the unit is purchased.

So, is it wise to buy a pre-selling unit or is a ready-for-occupancy unit the better option? This infographic provides comparative information between pre-selling and RFO units so you can decide which option is best for you.