CONDOMINIUM LIVING IN THE PHILIPPINES
as published in alveoland.com.ph
The property market in the Philippines continues to be a burgeoning industry, and with no signs of slowing down. Despite initial apprehensions over a property bubble, all indicators in the past years have continued to point to an uptrend in real estate especially when it comes to condominium developments.
This is largely due to the fact that there still exists a large demand to fill for primary homes. And with today’s modern lifestyles (especially in urban hubs and city centers), condominiums provide the most ideal home solution for Filipinos. These vertical communities optimize scarce land in the city, and provide ultimate convenience that meets the demands of fast-paced living.
If one looks at the list of condominiums in Metro Manila, one will find a wide variety of offerings—proving that it is genuinely a buyer’s market these days. One can surely find a condo unit that will satisfy any budget, space requirement, location, or even a design theme in mind. There are developments that provide basic housing, while there are those that offer truly high-end, luxurious living in the city.
There are also condominium communities where nature is carefully nurtured, while there are those that are ultra-modern in design and functionality. Some are designed with rich detail and complicated construction. There also are others that are simple and straightforward, yet futuristic. Indeed, there are a lot of properties in today’s market, and one would be hard- pressed not to find what suits each unique preferences and needs.
Choosing the right condo home
When looking for a condo unit for sale in the Philippines, there are a number of factors to consider. Homeseekers usually start with the ideal location they have in mind, based on where they work, or even where their children go to school. As the saying goes, real estate is all about location, location, location—and rightfully so, since this singular factor can affect all other considerations about purchasing a condo home.
It would also be good to choose a condo based on the reputation and track record of its developer. This is the best way to avoid getting burned by pre-selling developments that are delivered late, or that may never be delivered at all. Only real estate companies that have extensive experience and expertise in property development can assure buyers of lasting value in exchange for their hard-earned money.
Amenities, facilities, property management and other project features are equally important to consider in choosing a condo home. If finances are a consideration, a no downpayment condo payment scheme may be an attractive proposition as it doesn’t require any cash out at the beginning of acquiring the property. Those looking to own a condo unit with constrained funds can look for developers who offer this kind of arrangement.
Other expenses that condo buyers should watch out for are additional charges for transfer of documents and other necessary tasks to eventually place the property under your name. Of course, living in a condo necessitates the payment of monthly association dues with the condominium corporation. This takes care of costs for property management, security and maintenance, as well as expenses related to utilities in common areas.
