Tips When Buying A Condo HomeJune 5, 2022
A condo home is a hybrid between an apartment and a house. It can be a high rise in the middle of the city or a part of a Township wherein everything is within your reach. Living in a condo home is the “in” thing right now. Yuppies and oldies alike prefer to have the amenities and the comfort a condo home offers. There are factors to consider and decisions to make. To start with your investment, let us give you tips on buying a condo home.
1. Determine the reason you want to buy and decide on your priorities such as location, amenities, and the number of bedrooms.
2. Educate and prepare yourself. Make sure all your documents are ready.
3. Do your research. Check out developers’ sites and projects, and consider the ones that have all your needs and even your wants. Check out videos and photos online and compare.
4. Choose a reputable developer who is known to deliver quality properties on time.
5. Research your options and make your plans before you do your condo home shopping. It may take 10 to 15 site visits before you can decide which one you want. Your patience will pay off.
6. Make sure the broker or agent you are working with knows what he is talking about. He/she should be able to match your needs with the condo home perfect for you and your budget. He/she should be helpful and easy to reach.
7. List down questions to ask sales agents and brokers and don’t forget to compare answers to your needs.
8. Financing. Do your research on financing a condo home. Get pre-approved before checking out units to avoid frustration in the end. (You might end up wanting a condo home that is way beyond your budget).
9. Determine your capacity to purchase and pay. Focus on what you can afford.
10. Examine your current financial situation. Plan on how you will pay for your amortization and your expenses and your utilities.
11. When budgeting, also consider the purchase of furniture for your new condo home, repairs if any, and the taxes. Make sure you still have enough for your emergency fund.
12. Make sure the condo home you choose has emergency plans such as a generator and enough water supply for all the unit owners.
13. Make sure that the condo home location you choose is flood free and has all that you need or even more.
14. Fill out paper works properly and accurately. If you can have a diary for this investment, it will be a big help.
15. Make sure everything including the fine print is read and understood.
Congratulations! You now own a good investment. Here at Megaworld Manila, we can assist you from your inquiry to your tripping to finally deciding on which condo home or Township you want to live in. Come visit us today and see everything we offer. Owning a condominium is now made easy with Megaworld Manila.