Nuvali Lot for Sale: An Expert Analysis of Market Opportunities part 6

VI. Important Considerations for Prospective Buyers

Potential buyers of Nuvali lots should be aware of several important factors that can influence their purchasing decision.

A. Homeowner Association Fees:

For Avida Settings Nuvali, there appears to be some conflicting information regarding homeowner association (HOA) fees. One source states that annual association dues are Php 85.92 per square meter of property 24. However, another source indicates a calculation method of Lot Area X Php 7.16/sqm = Monthly Association Dues (MAD), providing an example of Php 873.52 per month for a 122 sqm lot 25. This discrepancy requires clarification from official sources. Payments for Avida Settings Nuvali HOA dues can be made via inward remittance to Banco de Oro (BDO) under the account name ASNHOAI or Avida Settings Nuvali Homeowners Association Inc25.. A penalty of 2% interest per month in arrears is imposed for late payments after the first day of each month 25. Vehicle stickers in Avida Settings Nuvali are available only to members with updated HOA dues payments, with costs varying depending on the type and number of vehicles 26. The availability of specific details regarding HOA fees for Avida Settings Nuvali suggests a well-organized homeowner association with established procedures for dues collection and penalties. This transparency is beneficial for prospective buyers as it allows them to accurately budget for the ongoing costs associated with property ownership within the community.

B. Property Restrictions and Guidelines:

Avida Settings Nuvali has specific rules and regulations that homeowners must adhere to. Individual lots cannot be subdivided by the owner, although consolidation of two or more lots is permitted under certain conditions with approval from the developer and relevant government agencies 27. Only one primary housing unit is allowed per lot, but complementary structures such as a maid's quarters or storage area are permissible with a separate entrance 27. There are minimum requirements for the cost (Php 1,800,000.00) and floor area (90 sqm) of any housing unit constructed on a lot 27. Conducting business, commercial, or professional activities within residential lots is prohibited 27. Restrictions also apply to the placement of commercial or advertising signs, with only nameplates and professional signs of a limited size allowed 27. Pet ownership is limited to domestic animals like dogs and cats, and commercial breeding is strictly forbidden 27. Homeowners are responsible for the regular maintenance of their lawns, and failure to do so may result in the association arranging for the upkeep at the owner's expense 27. In Avida Settings Nuvali, failure to pay three cumulative monthly HOA dues can lead to the suspension of access to village facilities for the homeowner, their lessees, guests, and relatives 25. It is also important to note that some property developments, including those in Nuvali, may have specific build provisions or timelines outlined in the contract to sell or property guidelines, requiring owners to construct a house within a certain period 28. The detailed nature of the rules and regulations for Avida Settings Nuvali indicates a strong emphasis on maintaining the community's aesthetic appeal, ensuring the safety and welfare of residents, and preserving the intended residential character of the development. These guidelines contribute to a well-managed living environment, which is often a significant advantage for homeowners. The restriction on subdividing individual lots, while potentially limiting future flexibility for owners, helps to maintain the planned density and overall character of the community.

C. Due Diligence and Next Steps:

Prospective buyers are strongly encouraged to visit the Nuvali site to gain a firsthand experience of the different residential and commercial developments. It is crucial to inquire about the current availability, specific pricing, and applicable payment terms for the lots of interest directly from the respective developers (Ayala Land Premier, Alveo Land, Avida Land) or their authorized agents. Reviewing the Master Deed and Restrictions for the specific subdivision is essential to fully understand the community's guidelines and regulations. Buyers should also verify if there are any specific build requirements or timelines associated with the purchase of a lot. Confirming the accurate and current HOA fees and what services they cover is also an important step in the due diligence process. A thorough inspection of the property and its surrounding areas is always recommended. Finally, consulting with experienced real estate professionals and legal counsel can provide valuable guidance throughout the purchase process, ensuring a smooth and informed transaction.