Real Estate Terms Every Homebuyer Should Know


Buying your dream luxury house and lot is a life-changing decision that calls for thorough research and several considerations. An important preparation you shouldn’t miss is learning how to talk the talk. If you have been browsing a few property listings and pause to look up what “appreciation,” “amortization,” or “fixed-rate mortgage” means, chances are you are not alone. Like many other industries, luxury real estate has its own set of real estate terms that first-time homebuyers might not be familiar with—and understandably so. A Brittany Salesforce (BSF) professional will guide you throughout the process of finding the perfect luxury home, but familiarizing yourself with common real estate terms will certainly help you communicate your home preferences easier and make smart buying decisions later on. 


Real Estate Terms You Need to Know

Photo of a huge wooden house surrounded by greeneries. | Luxury homes by brittany corporation

Ready to elevate your real estate expertise? | Photo from Ian MacDonald via Unsplash


Expanding your luxury real estate terms vocabulary begins with learning the basics. Take a look at the BSF-approved glossary of helpful real estate terms and definitions below to help you with your luxury property hunt. 


How you choose to pay for a luxury property is an important aspect of buying a home. Amortization refers to the process of spreading out the amount you need to pay or your mortgage over a set schedule or timeline. Before you make a purchase, a Brittany Salesforce professional will explain each payment term, including the principal amount and the interest. 


The term appreciation refers to how much a property’s value increases as time goes by. This gives you an idea of how much profit you can expect if you want to put your luxury properties for sale or for rent in the future. Higher demand in the market means higher sales price for a real estate property, thus, giving you bigger gains. But take note that not all real estate properties have a high appreciation rate. 

Bank Financing

As the word suggests, “bank financing” means applying for a house loan from a reputable bank to finance a portion of your purchase amount. Bank financing typically covers 70% to 80% of the total value of the property you want to buy. On top of bank financing, Brittany offers convenient and flexible payment schemes that you can use depending on your preferences. These include spot cash, deferred cash, and in-house financing, which will all be defined as you read through this blog.   

Contract to sell & Contract of sale

This is one of the more important real estate terms you need to know. A contract to sell and a contract of sale (also known as the deed of sale) are both important legal documents you will need when buying luxury properties. Although these two seemed alike, they actually have different purposes.  A contract to sell is a legal agreement between the property developer (seller) and the buyer indicating that: 

1. The seller promises to sell the property to the buyer and;

2. The buyer affirms to buy the property from the seller.  

Photo focusing on a persons hand signing on a white paper | Luxury homes by brittany corporation

Take note that the ownership for a property is not yet transferred when a contract to sell is issued. | Photo from Romain Dancre via Unsplash


Meanwhile, a contract of sale is a legal document, with real estate terms, proving that a property is already sold to the buyer. At this point, the seller is passing the ownership and turning over the property to the buyer. Sellers usually give a contract to sell to buyers who choose to pay for the property in installments. Once the amount is paid fully, the contract of sale will be given. The same goes to luxury properties that are still being built. For example, you bought a pre-selling luxury house and lot for sale in Brittany Sta. Rosa. When both parties agree, the property developer (Brittany) is obligated to issue a contract of sale when the luxury house and lot is completed and the total purchase amount is paid by the buyer (you). 

Take note: whatever form of contract you will be signing during the transaction, make sure to fully read and understand its content. You want to ensure that the contract conditions are fair, clear, and do not violate any of your rights as a buyer. A Brittany Salesforce professional will guide you through this process and let you know the specific terms and conditions included in your purchase. 

Deferred cash

If you are looking for a house financing option with “no down payment” or “no interest,” consider applying for deferred cash payment. This option equally divides the total amount of the luxury property you want to buy in the agreed period of time (e.g. 3 years). Deferred cash offers no interest rates and has shorter payment terms. 

In-house financing

Photo of a smartphone showing the calculator app on screen | Luxury homes by brittany corporation

If you want to skip the rigorous process and many requirements of applying for bank financing, in-house financing might be the best option for you. | Photo from Kelly Sikkema via Unsplash


In-house financing means the buyer or property investor applies for a house loan directly to the property developer (seller) to buy the luxury condominium units or luxury house and lot they want. This is also a great option if the buyer will be financially assisted by their parents, a foreign spouse, or relatives because they do not need to present proof of income. 


A home inspection is the thorough examination of a luxury house and lot or property the buyer wants to purchase. The examiner will visit the property to ensure that it is structurally safe and is in great condition. Condition of the roofing, plumbing, foundation, water pressure, and electrical wirings are some of the important factors being checked during an inspection. The process is done so that buyers can fully assess the property or coordinate with the developer to fix any needed minor repairs or major overhauls. If you didn’t know one of these real estate terms, you might misunderstand what they mean by an inspection.

Spot Cash Payment

The quickest and most convenient way to buy luxury real estate is to pay it via spot cash. Spot cash payment means that the buyer will pay the whole price of a property at once or in a short period of time (typically one month after the reservation date). This means you will get the contract of sale and transfer of ownership immediately. Another great thing about paying through spot cash is bagging high discounts from the property developer. 

There are more real estate terms you need to know, by these are the most basic. While you’re here, learn about what makes your investment appreciate in value.

Important factors that can affect the appreciation of your luxury properties


Property Features

House features, floor area, amenities, and upgrades are all value-adding factors of a luxury house and lot. A spacious three-bedroom luxury home, for instance, will sell more than a one-bedroom luxury condominium unit does in the market. The same goes if a property has extended spaces like a garage, front porch, or attic. Some of the Brittany homes that boast such features are:  

Photo of Carolyn Luxury house model | Luxury homes by brittany corporation

Carolyn from Georgia Club Brittany Sta. Rosa features three (3) bedrooms and a maid’s room with their own toilet and bath, two (2) garages, a porch, and an attic.


Photo of Allison Luxury house model | Luxury homes by brittany corporation

Allison from Augusta and Georgia Club by Brittany Sta. Rosa is a spacious 211-sqm house that stands atop a 180-sqm lot.


To view other high-valued properties of Brittany Sta. Rosa, take a virtual tour here


Accessibility enhances the value of a property. Typically, homes close to the big city (or in the big city itself), business districts, health facilities, schools, and shopping centers drive higher appreciation because they offer convenience to city-dwellers. Meanwhile, luxury properties outside the metro are attractive assets for business and investment if they are located near popular tourist destinations. Some of the perfect choices for these are the luxury condominium units of Crosswinds Tagaytay. Located at the highlands of South’s Summer Capital, it is easily surrounded by weekend getaway hot spots and nature Crosswinds Tagaytay’s close proximity to essential establishments and Metro Manila also increases its appreciation.

Property Developer

Residential or commercial properties made by established property developers often have a high resale value. This is because well-known home developers offer high-quality living spaces with great interiors and exteriors, security, and peaceful neighborhoods, which all increase the value of luxury condominium units or a luxury house and lot. Brittany, for instance, is a premier luxury real estate developer under Vista Land & Lifescapes – the biggest home builder in the Philippines. 

Supply and Demand

The market condition is a big influencer to a property’s appreciation. The premise is simple; if there is a high demand for houses with the same lot or floor areas and conditions as yours and only a few options are available the appreciation will shoot up. In the same way, resale price drops if local demand is low and there are many similar options in the market. 

Generally speaking, the appreciation rate of luxury real estate can range widely, depending on the unique features of a property. Your designated Brittany Sales Force professional will guide you throughout that step, but knowing these common determinants of a property’s appreciation is a great start. This will help you make wise real estate investments, especially if your goal is to gain huge returns. 


Got Questions? Connect to a Brittany Salesforce Professional Today

Buying your dream luxury properties – whether it is a luxury condominium unit or a luxury mansion — should not be complicated. If you are interested in buying a property in Brittany, or if you have any questions about real estate terms, you can easily connect to a Brittany Salesforce professional here, or call the Marketing department at + 63 (091) 785 77437.

You may also check out the themed real estate developments of Brittany here. Experience the euphoria of upscale and artful living with Brittany’s Old World European and American-themed enclaves. Come home to your dream Brittany home today!


Visit Brittany’s official property page to know more about Brittany’s beautiful thematic offerings or follow us on our Linkedin, Facebook, Twitter, and Instagram accounts!

For those who are interested to be a seller for Brittany, visit our E-Suite seller’s portal here.

Concerns on your home? Click on our Vista Land Homeowner’s Portal.