Help! I want to own a condominium unit but I don't know where to start

In today's robust real estate industry with heightened competition among local and international players, what do you think must you consider in buying a piece of property specific to Condominium Developments, be it for investment or for you as a residential-use?

Read through this blog and get to learn on 10 considerations prior owning a piece of any property presented to you.

1. CENTRAL AND STRATEGIC LOCATION

Location has always been the major consideration to any real estate property. It has to be central, strategic and unique among others. These set to stand out among options without compromising need of accessibility

As your prime abode, it's a MUST that development is centrally located near the establishments that will cater basic to complex needs of every individual.

So from a market standpoint, you are covered. What you would really have to take into consideration is how the location matters to you and your family.

Establishments such as Restaurants, Schools, Hospital, Malls, Super Markets, Airport and Transportation Transits

2. DEVELOPER'S TRACK RECORD

Quality and Quantity has to be tailored perfectly together as a proof of good reputation. Know the company who produced your unit for you. It's a must to re-check and review previous developments to note credibility of its performance and output.

At the end of the day, you'll be entrusting your hard-earned money to these companies. Better yet, entrust it to someone who deserves it the most.

3. UNIQUE DEVELOPMENT

Almost all of the condominium developments are great. The majority offers these and that, but what really sets them from the others? That's also one of the things you have to consider.

Perhaps you will evaluate things such as;

• What's in this development that other's do not have?

• Are these uniqueness be of my advantage as the owner?

• Will it have an effect-related factor as far as property appreciation is concerned?

4. TOWNSHIP FOR THE RESIDENTS

It has to be that the development has been primarily created and conceptualized with the RESIDENTS IN MIND. Not a piece of property where you could no longer enjoy the essence of life because business and commerce dominates the place. It is no secret that a condominium is a shared property of sorts, and with that it is governed by a deed of restrictions. It is important to understand the rules of your prospective condominium to ensure your lifestyle fits in nicely with the community. This means knowing if pets are allowed, being aware of the policy regarding visitors, and more.

It has to be planned and dedicated in accordance with your desired lifestyle and ambiance of your ideal HOME. After all, it will be inhabited by the residents themselves.

5. AMENITIES AND CONVENIENCE

Despite the high availability, condos still require a significant amount of investment. Apart from paying for your unit and its maintenance, a portion of what you are buying are the amenities that come with the property. For this reason, it is important to know that you are getting your money’s worth and are able to enjoy amenities and conveniences that are all useful to you.

6. YOUR BROKER, AGENT OR PROPERTY SPECIALIST

Unless your real estate broker or property specialist is a friend whom you have known since you were children, it is very important to find someone who is trust worthy and really knows his or her craft. Someone who will never leave you until everything settles down.

Engage to the specialist of your choice and examine person's genuine intent why he or she is helping you out in this venture.

7. METICULOUSLY PLANNED BUILDINGS AND WELL MANAGED ENVIRONMENT

The totality of the environment in and around your unit is a key component to its price, so it is absolutely okay if you choose to be meticulous. Apart from knowing more about the expertise of property management, you may also want to focus on key points like cleanliness, waste segregation, noise, pollution, and the general population of the building and the community surrounding it.​​

8. UNMATCHED VIEWS

Various Units provide different and spectacular views

Bay View - view includes the Mactan Channel, the sea, and the outlying landscape

Mountian View - a commanding panorama of the city side

Amenity View - a perspective view of the amenities with a scene of a resort-like living

Green Promenade View - commend verdant view of the tree-lined avenue of the promenade

​ 9. SPACE OPTIMIZED LAYOUTS

Are you living alone or with family? Whichever it may be, it must gives true superior options to you as valued clients with fully optimized spaces tailored-fit to any needs there is. It is important to recognize that the size of the unit you choose should be proportionate to the number of occupants to ensure functional comfort and adequate room for your belongings.

Then, even you are living alone, try to opt for at least a one-bedroom unit over a studio, since your investment will bear more value if it still has an actual bedroom.

10. BUDGET

Know how much you can afford will give you an overview of what properties you should inquire about, help you filter your options and also help you determine if and what type of home loan you need. Apart from budgeting for buying the condo, you must also plan for shouldering the fees, purchasing a parking space, and other costs. Check if there are flexible options you can take advantage from for easier acquisition of such properties.

For inquiries and assistance, feel free to reach author indicated on the contact page. You may also check around my site to explore real estate developments that may fit your preferences.

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Thank you for reading!