Advise needed - is getting a Condo unit a good investment?

[EQAddict]

sa mga nag babalak mag invest sa condo, i hope hinde maging ganito yun condo ninyo.

Pagpaparenta sa ilang unit sa isang condo, inirereklamo - YouTube

Man thats depressing for the other residents. Sucks.



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[ice15]

No respect to buyer! Injap Sia-Tan Caktiong’s Double Dragon refused to give condo title more than 3 years after full payment | Bilyonaryo

A sister of property developer Delfin Lee is seeking P10 million in damages against DoubleDragon Corp. (DD) of bilyonaryos Injap Sia and Tony Tan Caktiong for failing to provide her condominium title more than three years after full payment.

Under the law, developers are supposed to release the deed of sale and transfer of title within six months after full payment.

[Deestone]

I remember talking to a friend of mine and he said buying condo is like buying "air". He is a traditional investor who opted to but House and Lot and have it rented out instead of buying condo units.

[dr. d]

I remember talking to a friend of mine and he said buying condo is like buying "air". He is a traditional investor who opted to but House and Lot and have it rented out instead of buying condo units.

your friend is a wise man.
condo prices rise and fall. they may even disappear into thin air, if/when the building is destroyed, either by intent or by circumstance.

but land!
lex luthor is right.

available land dibay dibay number of people = going rate.
and i do not see number of people going down.

[ice15]

just sharing...

same developer, condo and townhouse

Condo (as per our agent) - 8M incl 1 parking
Townhouse (2 blocks away from our condo) - 26M incl 2 car ports

I personally know that a condo + parking in our building can be rented out at 30-35K
as per our agent, townhouses in our area is rented at 65K

so if I buy 3 condos at 24M, that's 90K/month rental

50 years later, condo is gone and the townhouse will still be there.

IMO, buying the townhouse will be an investment for our children
buying the condo will be for us, now.

[Deestone]

your friend is a wise man.
condo prices rise and fall. they may even disappear into thin air, if/when the building is destroyed, either by intent or by circumstance.

but land!
lex luthor is right.

available land dibay dibay number of people = going rate.
and i do not see number of people going down.

Actually if you have extra money then buy land or house & lot we are in the Philippines anyway unlike Singapore it is such a small country and I doubt if you can buy house and lot there... another advantage of condo is that it is much more liquid wherein you can easily sell it unlike house & lot.

[PaulGambino]

First rule..

Never ever consider a condo unit as an investment if you cant buy it in cash during pre-selling period.

That's what those property consultants will not tell you.


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[_Cathy_]

First rule..

Never ever consider a condo unit as an investment if you cant buy it in cash during pre-selling period.

That's what those property consultants will not tell you.


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Why is that?

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[yebo]

Why is that?

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discounts? some offer up to 20% off, sometimes even up to 25% if you buy in cash during the preselling period.

[PaulGambino]

discounts? some offer up to 20% off, sometimes even up to 25% if you buy in cash during the preselling period.

This is the best way to so call invest in condo. Pay in cash, get the discount, then sell.

For example. A unit is valued at 4M. Let's say you get 20% discount upon paying cash. That's only 3.2M without the other fees.

Compared to taking a loan, which will jack up your cash out to around 6-7M, after interest payments.

You can easily sell the unit bought in cash somewhere in 4-5M range and make a huge profit. Unlike the one you took a loan against, you will need to sell at around 8-9M, which is harder to do.

Always remember that in housing valuation, the price is dictated by the buyer. Even if you say your unit has appraised to 8-9M, the buyer will look for a bargain and go for those selling in 5-6M range.

Sorry to say but those "property consultants" are not really consultants. They are just agents of the corporation who teaches them how to sell it the corporate way. These are the financial literacy not thought in school that everyone should know.

But again, this is only applicable if you buy a unit for investment as the subject suggests. If you want to buy a unit for your own use, that is the typical mortgage and you should be okay with the financing structure being offered by those institutions.


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[shadow]

This is the best way to so call invest in condo. Pay in cash, get the discount, then sell.

For example. A unit is valued at 4M. Let's say you get 20% discount upon paying cash. That's only 3.2M without the other fees.

Compared to taking a loan, which will jack up your cash out to around 6-7M, after interest payments.

You can easily sell the unit bought in cash somewhere in 4-5M range and make a huge profit. Unlike the one you took a loan against, you will need to sell at around 8-9M, which is harder to do.

Always remember that in housing valuation, the price is dictated by the buyer. Even if you say your unit has appraised to 8-9M, the buyer will look for a bargain and go for those selling in 5-6M range.

Sorry to say but those "property consultants" are not really consultants. They are just agents of the corporation who teaches them how to sell it the corporate way. These are the financial literacy not thought in school that everyone should know.

But again, this is only applicable if you buy a unit for investment as the subject suggests. If you want to buy a unit for your own use, that is the typical mortgage and you should be okay with the financing structure being offered by those institutions.


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In short “willing buyer and willing seller”


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[badkuk]

kasi me charges sa financing/installment?

[_Cathy_]

discounts? some offer up to 20% off, sometimes even up to 25% if you buy in cash during the preselling period.

kasi me charges sa financing/installment?

Wow up to 25%. That's a good deal nga!

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[ice15]

discounts? some offer up to 20% off, sometimes even up to 25% if you buy in cash during the preselling period.

20%!!! (I honestly don't think this is possible...)

My agent was able to give me around 8% discount (from the pre-selling price) for paying 50% down in cash and before hand over another 50%

[yebo]

20%!!! (I honestly don't think this is possible...)

My agent was able to give me around 8% discount (from the pre-selling price) for paying 50% down in cash and before hand over another 50%

your deal is not cash, 50%/50% siya. meron yan 20% discount outright cash (fully paid 100%) at start of the project. ang downside e 3 years before the unit is turned over, sometimes even longer.

[badkuk]

your deal is not cash, 50%/50% siya. meron yan 20% discount outright cash (fully paid 100%) at start of the project. ang downside e 3 years before the unit is turned over, sometimes even longer.

onga no, 3 years natutulog pera mo. Opportunity cost

[ice15]

your deal is not cash, 50%/50% siya. meron yan 20% discount outright cash (fully paid 100%) at start of the project. ang downside e 3 years before the unit is turned over, sometimes even longer.

Just called my agent... 8% pa din even if I pay cash...

At 20% discount... Free na sana parking ko...

Anyway, baka depende sa developer.

[PaulGambino]

kasi me charges sa financing/installment?

Yes. You are essentially paying double the value after all interest charges.


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[shadow]

Since "design" daw ni Paris Hilton. sana mga college students na nag spring break mga nag swimming diyan eh wala siguro nag reklamo.


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[_Cathy_]

Since "design" daw ni Paris Hilton. sana mga college students na nag spring break mga nag swimming diyan eh wala siguro nag reklamo.


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tama ba kita ko na may nags swimming ng naka tshirt