A house of your own is probably considered as one of the greatest assets a Filipino could have. Being family-oriented, Filipinos regard their homes as a venue for cultivating their children’s values, principles, and well-roundedness. Filipino families, therefore, prioritize convenience, security, and tranquility when seeking an ideal place to call home. However, with today’s urbanization, the dynamics of an “ideal home” has changed significantly as a variety of size, style, structure, and form are now offered by several residential developers via apartments, townhouses, house and lots, and condominiums.
Today, more and more people are opting to choose the condominium lifestyle as it is perceived to be the most practical, especially in highly urban areas. Real estate developers all over the country have been constructing and launching them in strategic locations such as Metro Manila, Metro Cebu, and Metro Davao. As the Colliers report for the final quarter of 2014 has indicated, the areas of the Makati Central Business District, Bonifacio Global City, Rockwell Center, Ortigas Center, and Eastwood City alone are expected to have more than 30,000 units turned over in the course of the next three years.
Like houses in subdivisions, these high-rise residential buildings offer recreational amenities, such as swimming pools, gyms, day care centers, landscaped gardens, and 24-hour security. Flats are also flood-free and earthquake-proof as these buildings have to pass certain standards that ensure its safety amidst any possible natural occurrences.
As opposed to houses, they are perfect for individuals and families who would want to own a great investment without the hassle of actually managing it themselves. Unlike village associations, the management team of condominiums usually take care not only of the common amenities, but also of the repairs and maintenance your unit needs.
Whether for personal use or for investment purposes, it is important to weigh several factors when opting for condos for sale. Purchasing a unit involves a larger sum of money and entails greater responsibility as compared to simply renting one. That is why the following must be duly taken into consideration:
How long do you actually plan on living in the unit? Is it just an interim residence until you can afford a house of your own? Do you plan on putting it up for lease afterwards?
This will determine the flat’s size, interior design, and architectural design.
Because your place of residence determines a lot about your lifestyle, pick a unit that gives best access to you and your partner’s workplace, and your children’s schools. Makati, Taguig, and Ortigas are the usual business districts, while many schools are located in Quezon City.
Research about their vision as a developer, and see if they are able to meet the demands of an urbanized lifestyle. Take note of the success of the developer’s past projects, and assess whether or not the developer was able to establish a sense of value for your networks that have availed of their services.
Compare and study the prices of different properties before making the purchase, and see which one would be the best investment. The great news is that flats usually cost less than a house, which then makes both your monthly mortgage fees and property taxes less.