The Philippines' economic condition has never been so good. As the country continues to exhibit steady and consistent growth in practically all sectors, industries themselves expand practically at will as investors both foreign and local see minimal risks in pursuing their respective "dreams" at this point in time.

The real estate sector's rapid growth is probably the most visible among the country's economic driver. One cannot avoid seeing how lots which have been vacant for such a long period, transform into bustling hubs of commercial activity. Constructions abound from practically all angles, as residential development spout like mushroom. Vertical developments are common sites in upcoming communities. Buyer and seller seem to follow a very frantic pace these days, chasing properties for acquisition and development, and offering all sorts of assets for disposition, to off-load non performing properties while buyers are less discriminating and more focused on land-banking.

But just as new developments practically spread at will in every possible location, existing properties, be it old and abandoned sites or even currently occupied structures and spaces still manage to get their fair share of windfall amidst from the bountiful economy. "Value for money" is still a valid and reliable principle of every investor/realtor/ or even a plain and simple buyer. This also holds true even for residential properties that most often than not, are transacted on a purely personal perspective. As seasoned investors pursue their land-banking, ordinary and capable buyers would still do well in considering pre-owned properties as bankable investments.

Pinnacle Real Estate Consulting Services. Inc. offers a collection of affordable and negotiable pre-owned homes. While providing the asset management services in the industry, Pinnacle provides assistance to potential homes buyers - from site identification to final acquisition. Through its up- to -date inventory of over 16,000 properties and implementation of client-specific marketing strategies, Pinnacle successfully handled the sale of a significant number of residential properties all over the country. Since its inception, Pinnacle never ceased helping Filipinos transform from home renters to proud homeowners.

As more and more people start considering the acquisition of pre-owned assets as a worthy business proposition, a basic guide for would-be homeowners would be a necessity, at least for the first venture. In order to help these potential investors and home buyers go through the crucial decision-making process, we are providing below, a list of factors that should be considered before buying a pre-owned property:

1. Examine the property carefully. Maintenance and renovation issues must be property addressed.

• a. The most recommended age of the improvement is less than 10 years to avoid being burdened by renovation costs.
• b. Old properties with visible cracks may indicate already weak foundation.
• c. A defective wiring or damaged electrical system can cause accidental fires and explosions.
• d. Broken plumbing system due to rusty pipes can contaminate the water supply system.
• e. Inspect the walls and ceiling for water stains. It may be indication that the structure is prone to continuous flooding.
• f. Damage roof can lead to further costs for repairs.

2. The location is a significant factor in buying a house. Convenience and preference are key considerations (e.g. near a school, a mall, a church, a clubhouse, etc.)

3. The acquisition price should be well-defined at the onset together with its inclusions and exclusions.

4. Check for any unpaid amounts that the property must be legally accounted. This could be due to the previous owner's action or omissions which would eventually be passed on the buyer.

5. The registration of property should be checked confirming all available documents related to the property, and duly verified by legal experts.

6. The neighborhood is also a factor as they share a history with the former owner and can, to a certain extent, help in deciding whether to purchase the property or not.

7. Know your broker's or negotiator's background and profile. There are some cases where customers were victimized by fraud and deception.

Critical thinking and careful planning are essential, especially if a considerable amount of hard-earned money is involved and the acquisition of a previously-owned property which may have with it some unresolved concerns. Nonetheless, with proper due diligence and an educated decision, a newly acquired pre-owned asset can still turn to a bankable investment.