A Beginner’s Guide for First-time Condo Buyers
You may find yourself being all enticed with the special offerings and promos from the different condominium developers in the country. For this reason, you should consider some important factors before securing your first property investment.
Remember: Offers and Promos are just glittering promises. Sometimes, they can be a trap if first-time condo buyers are not mindful of what is worthy.
1. Location and Accessibility
Is your preferred condo development built in a key or emerging city? Is it peaceful and safe to live there? Is it near to the commercial and business establishments?
The most important factor that you should consider before buying a condominium is the LOCATION. Having a condo in a premium location offers great convenience because it saves you the time to replenish your needs.
Are there new developments and innovations in the area that will increase the value of the property? If you are only thinking to reside in a condo for just a short while, you should opt to consider the long-term resale value of the neighborhood wherein it is built.
2. Safety and Security
Be in a home where your well-being matters.
The second factor that you should consider is the security of living in the community. Does your community have heightened 24/7 security? Is it an exclusive community? Are the entrance and exit gates well-guarded?
Being safe and secured will allow you to sleep soundly at night without worrying for any threats or dangers.
3. Price and Affordability
Always consider a competitive and affordable price whenever you choose a property investment.
Most likely, condominiums offering low prices do not have competitive products and services. For instance, you might be missing out an elevator or you might encounter sudden cracks in the walls with just a slight earthquake tremor.
For this reason, choose an affordable and competitive price that perfectly suits to your budget. A competitive price is a reasonable price provided that you get the worth you deserve for your condo home.
If you are looking for the lowest price offer or the starting price, then you may consider acquiring a pre-selling condo property like Camella Manors Lipa, Camella Manors Verdant, and Camella Manors Soleia.
How will you know if the condominium property is crafted with excellent quality?
The best thing to do is to have your own research since not every information is disclosed to you by a real-estate agent or broker.
The first thing that you should research about is the developer of your preferred condominium, especially its reputation in the real-estate industry. A trusted developer will not compromise any quality to its products and services. Additionally, you can speak directly to the people who are residing in the different condominium projects of the developer. Testimonies reveal the truth of what’s inside the community.
Since you will be living in a community with shared walls, you should not overlook the sound attenuation or reverberation. Hence, a good quality condominium is crafted with the best flooring and insulation materials to lessen the noise produced by your neighbor, especially when you prefer living a quiet life.
As a first-time condo buyer, it is imperative for you to investigate how your future property is built and the materials used to reduce the sound transfer between walls.
If you have a personal standard when it comes to noise acceptance, it is highly suggested for you to consider getting a top floor unit.
You need to be a meticulous buyer, especially if this is your first time owning a property. Therefore, you need to understand how the property or community is being managed in terms of waste segregation, cleanliness, emergencies, and the like.
5. Payment Scheme
Since we are currently in a global pandemic, you should take a look at the properties that are offering a flexible and convenient payment scheme.
The best opportunity to secure your first condo investment is now because most properties are offering low down payment and flexible payment terms. Discuss with your authorized sales representative about the payment scheme of your desired property.
6. Design and Layout
Are you looking for a themed community? Then, you may consider Northpoint Davao as one of your great options.
This British Kiwi-themed condo community is lavished with imported pine trees that will be healthful to your well-being as you will be exposed to 78,000 pounds of fresh oxygen every single day.
Choose a community that values your well-being into a premium. A condo community like Camella Manors is complete with the standard utilities and facilities of a condominium.
One of the things that you should look forward to in a condominium is its amenities.
Does your preferred condo property have swimming pool, fitness gym, clubhouse, jogging trails, and the like?
Amenities vary across condominium developers. You just need to choose what you think will best fit to your lifestyle needs.
9. Turnover period of the condo property
If you are aiming to move in immediately in your new condo home, then you should eye for ready-for-occupancy/ongoing condo unit properties:
In Camella Manors, the schedule of turnover is approximately on the 4th or 5th month of regular schedule of payments for ready-for-occupancy condo units while a period of one month is allotted for the awarding of pre-selling condo units once the unit owner has settled all the payment requirements.
10. Measure your lifestyle
Finally, you need to know if the condo lifestyle is fit for you.