THINGS TO CONSIDER BEFORE BUYING A CONDO
LOCATION
This is the most important factor that you should consider in buying a condo. If it's near a mall, grocery, school, and different establishments, it should be a good investment. If possible, choose a location where you could walk or commute a short distance if you are going to your office.
SAFETY
There should be enough guards to secure the premises, if the condo is still under construction, try to check their completed developments if they place ample guards at the condo development. Also check if the fences are high enough to prevent others from trespassing.
RENTAL OPPORTUNITY
Check if there is a nearby college or university or business district where there are plenty of students or working professionals who might need to rent your unit. You might consider to rent out your unit in the future so you better choose the best location possible.
DEVELOPER
Choose a reputable developer who had delivered quality condo units in the past. This is very important because a good developer needs lots of money and experience to give the best turnover possible to their clients.
PAYMENT TERMS
Your developer should have flexible payment schemes. Availability of Bank and Pag Ibig Financing is a plus.
AMENITIES
Amenities are one of the attractions of a condo development that makes it enjoyable to live at. Swimming pools should be large enough to accommodate the population of the development. Function Rooms are also a big plus because you don't need to rent a far venue for your celebrations, you could hold it in your condo instead. Gyms and Jogging Paths will help you stay healthy without spending too much. And also, make sure that the there is a receiving area for your guests like a clubhouse so your could meet them there instead of in your room.
UTILITIES
A provision for a laundry shop and water station is really helpful because these errands can be more convenient especially now that they are located in your condo.
CONDOMINIUM DUES
Ask your salesman how much condo dues they charge per square meter. This will cover the security guards, janitors, and maintenance of common areas and amenities. These can go from 30 pesos per square up to 100 plus depending on the project.
FIRE AND EARTHQUAKE SAFETY NETS
Always take into consideration security measures that your condo should have like fire alarms, extinguishers, water hydrants and hose and fire escapes. They should also have Earthquake or Fire Insurance so you will be protected if these untoward incident happens.
AMPLE PARKING SPACE
There should be enough parking spaces for occupants and visitors. Some developers offer 1:1 parking ratio which means there's a slot for every occupant of the condominium.
PROPERTY MANAGEMENT TRACK RECORD
The best developers should maintain the common areas like amenities and utilities perfectly. There are good developers out there who make sure that their pools, playgrounds, and common areas are always clean. Repairs are done so fast and theres enough janitor to clean all the areas of the development. |
