First Time Condo Buyers: Things to Consider

condominiumWith Metro Manila getting more and more congested by the year, condominiums have started to pop out in almost every part of the city to accommodate people looking for residential spaces. That is one of the reasons why you are reading this article, to know more about condos in the Philippines and how to make sure you make the right investment.

As a first-timer, you will have a lot of questions. Is that condo for sale in Sucat the right one for you? How will you know that it is? There is no right or wrong answer as it would depend on your personal preference, but there are some things worth considering to help you decide easier.

Things to consider when buying a condo in the Philippines for the first time

1. Purpose

People invest in condos for a variety of reason. Some see themselves living in it, some purchase for their retirement, while others opt to rent it out and generate income. Identifying your purpose early on can help you choose the kind of condo you need to invest in.

2. Developer

Condos are popping around the metro like mushrooms, so as condo developers. Before choosing to invest in one, make sure to do your homework and do a background check on the developer. The last thing you want is to have your investment disappear in thin air because the developer is not able to finish the project.

3. Style and size

Your condo’s style and size would highly be dependent on point number 1. Nowadays, there are different themes for different condos. You can have a mid-range one, or have a luxurious one. All you need to do is choose.

4. Budget

The prices of condo units are affected by different factors like the location, developer, condo style and size, as well as association dues. Make sure you set a reasonable budget for all these factors before jumping into the water.

Keep these things in mind when purchasing your first condo unit. You will be surprised at how it can help make the process a lot easier.