Most of us, if not all, know that a real estate is an ideal investment a person can make. Although it may be overwhelming sometimes, home buying is one of the most exciting moments a homebuyer can experience. And yes, as a homebuyer, you need to consider a lot of things to succeed with the investment. Regardless of the location, be it in Bonifacio Global City or any other areas, owning your dream home is just incredible.
1. In the Philippines, condominiums only have a lifespan of 50 years. Building structures standing for over 50 years should be treated as obsolete and uneconomical.
2. Foreigners can't own land in the Philippines. They can only own condominium units, as long as the corporation who owns the company is at least 60% Filipino-owned.
3. Buildings are classified in terms of quality. Buildings are categorized based on several factors, not just architectural design and height.
4. Historically, real estate has been shown to be a good investment. Many home investors have lost a lot of money in the real estate market. However, it has proven to be profitable over time.
5. Home investors need a realtor. Real estate expert can help you save money and keep you out of any potential legal issues. Hiring a realtor is worth paying, especially when you see the results.
6. The property's price does not include taxes. Other incidental and miscellaneous expenses will come during the registration process.
7. Did you know that McDonald's is not a burger-flipping restaurant chain, but the world's best real estate? And because McDonald's owns the best commercial real estate all over the world, they get paid handsomely, while franchisees do the burger flipping.
8. The architect of the Chrysler Building secretly built a 125 ft long spire inside, to compete in the world's tallest building. When his competitor's building was completed, the spire was pushed up through the building making it taller by 119 feet.
9. In 1945, a B-25 bomber pilot crashed into the Empire State Building. The impact snapped the cable of the building's elevator shaft. By the time the carriage reached the bottom, a thousand feet of cable had piled up beneath it, acting like a spring, which allowed the lone occupant in the car to escaped injured but alive.
10. In the United States, there were more foreclosures than there were marriages in the year 2009.
11. Did you know that Donald Trump has filed for corporate bankruptcy four times?
12. On 9/11/01, the owners of the World Trade Center scheduled a meeting on floor 88 of Tower One to discuss what to do in the event of a terrorist attack. They rescheduled their meeting the night before, because someone couldn't attend.
13. Did you know that the famous Las Vegas Strip is not located in the city of Las Vegas? It is situated in a city known as "Paradise" – which is completely surrounded by Las Vegas, to avoid tax.
14. The Burg Khalifa is so tall that you can watch the sunset from the base of the building, take an elevator to the top, and watch the sunset all over again.
15. When Apple was building a new date server in North Carolina, they paid one elderly couple $1.7 million for one acre of land. The couple had purchased the property 34 years earlier for $6,000.
16. In Scotland, homeowners paint their front door RED when they pay off their mortgage.
17. Brass doorknobs disinfect themselves. Several metals including brass, copper, aluminum, iron, lead and silver are antimicrobial and they kill bacteria and brass is the most antimicrobial of them all.
18. Using prefabricated modules, some builders in China are able to build 30-story skyscrapers in as little as 15 days.
19. Leona Helmsley, an hotelier, and real estate magnate left $12million in her will to her dog, Trouble, in 2007.
20. India's richest person built a $1 billion home. It has 27 habitable floors, including six parking floors for a capacity of up to 168 cars.
There's nothing more satisfying than knowing how real estate had changed over time. And of course, it is also a great thing knowing the fun facts about real estate that we never heard before.