Thinking of settling down and imagining yourself relaxing in your condo unit after work? Sure, there are lots of condos but we all know that we are after a budget-friendly home. With all the advertisements you see on and offline, how would you be able to make sure that you are getting the right condo for yourself?
To help you with your dilemma, here are three short tips on how you can find an economical condo unit:
Do your research
With just a few clicks away on the internet, you can quickly see which developers and sellers have the best price. But don’t get complacent that you already know what you need to know. Of course, these businesses are well informed on how they can attract leads or potential buyers. It’s better if you thoroughly review the data you will be getting.
There’s a study that the cheapest condominium in Metro Manila can be found in Las Piñas. In this city, the average price of a unit is P49,849 per square meter. On the other hand, Makati City has the highest estimate per square meter which is P139,012. Second in the highest is Taguig with an average asking price of P126,129 per square meter. But low and behold, you can find a P333,333 per square meter condominium in Bonifacio Global City (BGC), Taguig City.
Maybe you are planning to get a unit in Makati City but discouraged with the data shown above. Don’t you know you can find a low-priced per square meter condo in San Antonio Village with just P27,137? Well, that’s what we mean by doing your research.
Ask, ask, ask
Aside from reviewing your data, know how to ask. It can be by asking your colleagues or relatives who are currently living in a condo or know any people who sell units. You can also ask them what their comments and observations in their condo, which developer is better, who offers more amenities and facilities, and if there’s a legit sale or cut on price selling of units available. We know how powerful word of mouth is, so utilize it properly.
Now, you might be directly asking a developer or seller. Keep in mind that you have all the right to know the full (and real) details of their promotion. Don’t be shy or scared to inquire further. It just means that you are seriously interested in them. But don’t forget to ask the right questions politely. Some of which are:
What are the fees I need to pay? What are the payment terms available for each? Which payment term is the most cost effective?
Who manages the concerns in the condo? Are they easy to reach?
What are the house rules?
Do you have any suggested units or properties for me with this particular amount of budget?
You can also ask the developer or seller that if given the opportunity to buy the unit they are offering, will he or she take it? Why or why not? See how they answer and if you are convinced, you might want to bookmark that property.
Weigh pros and cons
So you now know the cheapest offered unit in town. But is it the one you should avail? It’s time to weigh the pros and cons. That unit might be with the lowest price but the location is a struggle to find and visit, or have a lot of rules and policies which you find very restrictive and irrelevant. At the same time, there is a unit with a few bucks higher than the other but strategically located, offers free access to their amenities and facilities.
Recognize your priorities and don’t forget the reasons why you are planning to buy a condo. If these points are met in your prospected condo, maybe it’s the one.
Author Bio: This article is written by Dominique Santos, a blogger, and an interior designer. He blogs for Amaia Land, a developer of estates and condos in Manila, Philippines.
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