It is no question that real estate in the Philippines has seen a definite boom—particularly in the market for condominium units. As a result, almost every nook and cranny of every major city has a condominium development ongoing or already has one in existence. Today, more and more Filipinos are getting on trend and are investing in their own very own condominium unit. With the flexible payment schemes, affordable rates and convenient way of living, it is hardly questionable why many Filipinos have considered getting on trend with this ideal housing alternative. From the towering structures of Amaia Skies Cubao to the many various units found within the city, Filipinos certainly have more than their fair share of options when it comes to condominium living. So, if you are looking to invest in a condominium yourself, here are a few tips to keep in mind:
1.) Check in for a home loan
When you are on a budget, affordability is paramount when it comes to choosing a condo. Apart from the payment you are required to pay for the unit itself, you should also expect a series of expenses you would be inevitably facing. To prepare yourself for this, it would be a good idea to calculate the cost of condo living and comparing that with the savings you already have and the income you are expecting to see if you could shoulder it. Do not fret if your finances fall short, however, as you can always check whether you would be eligible to get a home loan from a bank or a Pag-IBIG house fund.
2.) Know what you are looking for
Everyone has different tastes when it comes to homes, but one thing you should take note is that when you buy a condo, it is an investment that would stay with you for a long time. When checking out potential condo units, be on the lookout for things that you like and things that you do not. Be observant. Is the location accessible to entertainment hubs and offices? Do you like how the living room looks? Come up with a good criteria as to what passes of as a good unit and what does not and refer to this whenever you are checking a prospective unit.
3.) See if you would fit in
Another aspect that you need to carefully pay attention to is how well you would fit in with the neighborhood you are potentially moving into. It would be no question that your neighbors are going to be some of your friends, so it would be a very good idea to gauge just how well you would be getting along with them before deciding to move in. While you are on a condo tour, observe your neighbors as well and try to see if you can picture out yourself interacting with these people for a long time. After all, no one wants to feel like an outsider once they have settled into a new neighborhood.
4.) Check if it has a space for your car
A novice mistake to make when on the scout for a condo unit to live is to assume that a parking space for your car comes with the purchase of the unit. Unfortunately, it does not. If you want a parking space for your car, you would need to buy it separately. Try to see the payment terms of the parking spaces in your prospective condo are flexible, and see if it has enough spaces to accommodate all of your cars.