Lot only or house and lot: which suits you

Buyers in Bacolod and Talisay often start with this question. Neither answer is wrong. It depends on your time, your cash and how much of the work you want to take on.

Buying a lot

Good for you if you want to design your own home, you are not in a hurry to move in, or you want to hold land as a long-term asset.

Things to weigh:

• The lot price is only the start. Add design, permits, construction and utility connections.
• Construction takes months and needs someone to supervise it.
• Banks treat a lot loan and a construction loan differently. Ask about both.
• Check subdivision rules: some set a deadline to build, a minimum house size or approved designs.

Buying a house and lot

Good for you if you want to move in soon, prefer one price and one loan, or do not want to manage a build.

Things to weigh:

• You get the layout as built. Renovation is possible but adds cost.
• For a resale home, inspect the roof, plumbing, wiring and signs of flooding.
• A furnished home can save a lot on move-in costs. Ask for a list of what stays.

Questions that settle it

1. When do you need to move in?
2. Is your budget a total figure or a monthly figure?
3. Will someone you trust be in Negros to oversee construction?
4. Do you care more about location or about the house itself?

Overseas buyers often prefer a finished house because supervising a build from abroad is hard.

See what is available now, or tell us your budget and we will suggest options.