In today’s real еstatе landscape, homebuyers looking for a condo for sale are often spoiled for choice, with new concepts, types of development, and even payment schemes now being offered. The real еstatе industry in the Philippines has skyrocketed in the last couple of years, with new condo developments being built not just in Manila but in major cities all over the country. But with the myriad of options to consider, how does one figure out the condo that’s the one for you – a match made in real еstatе heaven?
Choosing Condo For Sale Properly
There are several factors one must consider before signing the dotted line and diving headfirst into real еstatе investing. Here are some questions that can guide the condo buying process.
1.WHERE IS IT LOCATED?
The first rule of real еstatе can be captured in three words: location, location, location. Even the best real еstatе property when built in the wrong location will not attract buyers and renters. So choosing a condo in a great location is key. In the Philippines, it’s ideal to buy a condo in Manila or any of the major urban centers because property values in these cities are the highest in the country due to great demand. Look for condos that are close to major thoroughfares and establishments such as schools, malls, and churches for the ultimate accessibility and convenience.
2.WHO WILL LIVE THERE?
Are you buying a condo to live in or for real еstatе investment? Are you looking at a property for you or for a family member? Knowing who will live in the property will help you determine the type of condo you should purchase. If it’s a property for you or your family member, you should consider your needs and preferences first and foremost. If it’s for rental income or real еstatе investment, the property’s potential yield for rent or resale is an important factor to consider.
3.WHAT TYPE OF PROJECT OR DEVELOPMENT IS IT?
High-rise, mid-rise or low-rise? Residential, condotel, or mixed use? You need to know what type of condo you are looking for before making a purchase. Aside from building specifications, real еstatе properties also differ in their concept or theme. Some real еstatе developers go above and beyond to create a one-of-a-kind real еstatе property. They could go as far as transporting a tropical beach or a rainforest in the middle of the city. With the many choices at your disposal, don’t just settle for a run-of-the-mill property. Look for a condo that appeals to your lifestyle and provides a living experience beyond four walls and a roof.
4.HOW MANY BEDROOMS AND WHAT IS THE FLOOR AREA?
Choosing the best condo also entails choosing the right layout and size. If you’re single or married without kids, you may opt for a studio or one bedroom condo. Two bedroom units and more are ideal for families with kids or extended families. Check the floor plans to make sure they’re functional and can be flexible (some properties have extended balconies which can double as living space). Of course, your budget will factor heavily in your decision. But for pre-selling condos, it’s best to anticipate your needs for space by the time your condo will be turned over (which is usually after 5 years on average).
5.WHAT ARE THE CONDO’S AMENITIES?
Aside from the convenience of living in a great location, one of the best things about condo living is having access to amenities. A condo with top-notch amenities such as fully-fitted gym, basketball and volleyball court, game room, and movie room gives you better value for your money because it allows you to save on other expenses such as monthly gym or country club membership. Living in a condo with 24/7 security and maintenance services will guarantee your peace of mind. Luxurious vacation amenities that can rival five-star hotels such as a pool, spa, and bar also allow you to unwind after a long day. You can also check other services such as concierge, valet, laundry and dry cleaning, and storage facilities which may come in handy as a condo resident.
6.HOW MUCH IS MY BUDGET AND WHAT ARE THE PAYMENT SCHEMES AVAILABLE?
Get the most value for your money by doing your research. Check out as many projects in your chosen area and list down their pros and cons. Factor in add-on expenses such as annual real property tax, fire insurance, mortgage redemption insurance, building maintenance, and homeowner’s association dues when computing for your condo budget. Inquire about payment schemes and promos with low downpayment and low monthly amortization. Check different banks and compare their home loan programs. Doing your due diligence will help you make a more informed decision in getting the best condo for your budget.
Check out more tips on how to be better prepared to buy a condo.
7.WHO IS THE DEVELOPER?
Investing in real еstatе is one of the biggest life decisions you can make, not only financially but also emotionally. So it’s very important to choose a property by an established and reputable real еstatе developer that you can trust. Century Properties is one of the Philippines’ leading real еstatе developers with over 30 years of experience. The real еstatе company’s pioneering concepts and industry firsts have resulted in some of the most exciting and truly remarkable real еstatе projects in the country including Century Spire (architecture by Daniel Libeskind and interior design by Armani Casa), The Milano Residences, Trump Tower Philippines, Acqua Private Residences, Acqua Livingstone (interior design by MISSONIHOME), Acqua Iguazu (yoo inspired by Starck), Novotel Suites Manila at Acqua Private Residences, The Gramercy Residences, The Knightsbridge Residences, The Residences at Commonwealth by Century, Azure Urban Resort Residences, Centuria Medical Makati, Century City Mall, PHirst Park Homes, Batulao Artscapes, and many other innovative residential and mixed-use developments.
Are you looking for a real еstatе property in the Philippines? Call 63917 555 5274 or email ask@century-properties.com to learn more about condos for sale and other real еstatе properties by Century Properties.
