Buying a condo? Settle these 4 important things first
MANILA, Philippines – Are you planning on buying a condominium soon? It’s quite fun to take a look at the several developments rising out there. Many of them are offering modern and interesting amenities, convenience, and even a luxurious lifestyle.
But while a condominium can be an attractive choice for a home and generally a pretty good investment to make these days, don’t jump in just yet unless you have nailed down these four things:
1. Is a condo really right for me?
In other words: Are you sure it’s the type of home or investment that perfectly suits you? There are a few questions you’ll need to answer: Are you always on the move? How important is privacy to you? Are you fine with following strict house rules? How are you going to do your laundry? Do you love gardening?
And if you’re looking to buy a condo where you can grow a family, consider very well the size of the unit, amenities, neighborhood and lifestyle. Think long term and try to find out whether a condo would really work for your family in the future.
2. Can you afford a condo unit now?
And here comes the money talk. Are you earning enough? Is your job stable enough to keep up with the monthly payments? Is now even the best time to make a purchase given your cash flow? Can you also get approved for a loan? Which is the best option: in-house financing, Pag-IBIG or bank loan?
To find out, compare payment schemes from different developers and know all the costs involved. Factor these into your budget. Check all financing options as well and find out what you need to get approved.
3. Where would you want to settle?
Before looking at properties, decide on location first. Will it be in a business district? Do you want to live near your relatives? Can you secure a stable job there? Is the transportation system convenient?
You can judge locations based on availability of jobs, proximity to commercial places, accessibility to schools and church, quality of transportation system and whether they have a sense of community. Make sure that your condo’s location is strategic enough to serve your needs.
After choosing a location, you can then narrow down your options and start checking out properties.
4. Have you taken a look?
But don’t fall in love with a unit that quickly.
There are important things you need to look at as you visit prospective condo units. Check for any cracks on the wall and ceiling. Are the doorknobs and locks working properly? Does the property have the amenities that you need? Inspect the plumbing too. Are your neighbors too loud? How’s the security service?
You can invite a family member, relative, your spouse or a close friend to come with you when you go condo hunting. They can help you with the inspection and share their opinions and ideas about your prospective unit.
You can start your journey of finding the best property with Empire East. They have projects in Pasig City (Kasara, The Rochester), Mandaluyong (Pioneer Woodlands), San Juan City (Little Baguio Terraces), Makati City (San Lorenzo Place) and Sta. Mesa, Manila (Covent Garden).
You can get in touch with Empire East through 810-3333 or inquiry@empire-east.com. Like their Facebook page or follow their Twitter and Instagram accounts to learn more.
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