The condo is popular these days. In the Philippines, many Filipinos choose to own a unit to attain their independence or to make it as a property investment. And these two are the two reasons that a condo can fulfill.
A Condominium offers a kind of lifestyle and flexibility that you can’t have in owning a residential house or land. Condos are the best choice if you are planning to have a house that doesn’t need to have a house construction. Also, it is a lucrative property can use as a commercial stall– store, apartment, etc.
If you are planning to purchase a condo, make sure you consider these factors.
1. Evaluate your goals.
When we are thinking about a house, we want it for a long term living. Although condominium is a good investment and right housing option, you can’t inherit it to your children in the next 50 years (see RA 4726 Sec 8). That’s one of cons of owning a unit. Now, evaluate your needs and goals on owning a house. Do you have plans to move out after 5 years? Or are you planning to change your career to the next years in different area? Etc. Based on this, you will decide what kind of condo or you should buy a unit.
2. Know your budget and desirable location
Location is a very important factor in choosing a unit, mainly because it will give you convenient and it will mold your lifestyle. Also, location declares the price of a unit - not all condos have the same price.
Condos price in the Metro is highly different to the other areas. Properties that are located near in the business central have a larger price than others. Example, Condominiums in Mckinley Hill, Taguig the price range 13.5M to 29M while in Mandaluyong the price range is 2M up to 10M (depends on its size and type; see www.fortglobalcondo.com). Aside from these, it varies the cost of living such as foods, drinks and many more.
3. Choose the best unit fits with your needs
You have lots of options in choosing a condo. Aside of many condominiums in the market, there are also pre-selling condos that are low in price.
Because of there are many options, it can be a tough decision which type of condo is right for you. Since not all real estate has the same amenities, it can be one of the criteria. Don’t choose the second best if there’s a perfect one suit on your needs.
Buying and owning a condo in the Philippines are not too difficult task, especially if you follow these guidelines. Also, having knowledge about condominiums gives you an edge than the other buyers. This is dream come true, choose wisely.
A Condominium offers a kind of lifestyle and flexibility that you can’t have in owning a residential house or land. Condos are the best choice if you are planning to have a house that doesn’t need to have a house construction. Also, it is a lucrative property can use as a commercial stall– store, apartment, etc.
If you are planning to purchase a condo, make sure you consider these factors.
1. Evaluate your goals.
When we are thinking about a house, we want it for a long term living. Although condominium is a good investment and right housing option, you can’t inherit it to your children in the next 50 years (see RA 4726 Sec 8). That’s one of cons of owning a unit. Now, evaluate your needs and goals on owning a house. Do you have plans to move out after 5 years? Or are you planning to change your career to the next years in different area? Etc. Based on this, you will decide what kind of condo or you should buy a unit.
2. Know your budget and desirable location
Location is a very important factor in choosing a unit, mainly because it will give you convenient and it will mold your lifestyle. Also, location declares the price of a unit - not all condos have the same price.
Condos price in the Metro is highly different to the other areas. Properties that are located near in the business central have a larger price than others. Example, Condominiums in Mckinley Hill, Taguig the price range 13.5M to 29M while in Mandaluyong the price range is 2M up to 10M (depends on its size and type; see www.fortglobalcondo.com). Aside from these, it varies the cost of living such as foods, drinks and many more.
3. Choose the best unit fits with your needs
You have lots of options in choosing a condo. Aside of many condominiums in the market, there are also pre-selling condos that are low in price.
Because of there are many options, it can be a tough decision which type of condo is right for you. Since not all real estate has the same amenities, it can be one of the criteria. Don’t choose the second best if there’s a perfect one suit on your needs.
Buying and owning a condo in the Philippines are not too difficult task, especially if you follow these guidelines. Also, having knowledge about condominiums gives you an edge than the other buyers. This is dream come true, choose wisely.
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