Is it good to invest in a condo?

[boybi]

I was offered a good payment term for a condo unit in the Fort area. Since I was offered a pre-selling price, I was told I can sell it in the future with good returns. I may also rent it out at a good monthly rental price. I may also decide to use it when my children goes to college, but I think Fort is a little far from the big universities.

Is buying a condo unit a good investment? If I'm going to sell it later or rent it out, how many bedrooms should I get for easier disposal?

[asb75]

kung ako tatanungin ayoko nang condo unit, ang daming mga association fees diyaan na babayaran. at pag naluma na yung building paano mo na siya maibebenta at mapamana sa mga anak mo after 50 years baka gibain na yun. Tapos wala kang sariling garage or parking space bibilhin mo pa sa kanila yun, hindi siya spacious ang liit nang floor area and mahirap pag maingay ang katabi mo na unit.

[vinj]

Things to consider:
- Developer, particularly their track record on delivering the condo unit on the schedule promised and their reputation for build quality. Take note also of the contractor of the developer.
- Location vis-a-vis transport hubs/lines and main roads.
- Parking Slot: Always get one as this will make your unit easier to rent, easier for you and your family if you use it, easier to sell later on. You can also rent the parking slot separately.
- Look at the condo layout and density per floor. Also look at the provisions for the kitchen exhaust and if there's cross-ventilation designs to the building (DMCI is beginning to do these with their high rises).
- How many elevators are there vis-a-vis the building height and density.
- Check out the old projects of the developer and see how they turned out.
- Get an estimate of the condo association dues, move-in fees, water utility. May monthly fee din if you have a parking slot.

On the condo size, it depends on the end-user and your target market for rental if you plan to rent it out. If you're in a CBD and want to rent it to office workers, then you'd be looking at a smaller condo unit with one bedroom or a studio type as these people would be looking for the cheaper rentals. Problem here is marami nang nag-offer ng small condo units all over so marami kang kalaban for rental and if you use it personally, it will be too small for you.

If your target market would be transient families or expatriates then you'd want to consider a CBD condo with two to three bedrooms that's near a park and other entertainment venues; mas mahal din ang rental so limited ang market for these. Personally i'd go with a bigger is better stance as it's more flexible and there are less people who can afford to buy the bigger condo units.

On whether you can flip it/sell it in the future with good returns, that's an iffy question since right now the market has an influx of a lot of new projects and financing is relatively attainable for prudent working class person. It's better that you decide to buy because you either plan to use it as a family place when you're in the city or when your kids go to school, or you plan to rent it out. The Fort is a little far off from the usual Ateneo-La Salle-UST-UP areas though so when your kids go to college, malamang maghihingi sila ng car plan from you. :D

[_Qwerty_]

* location location location
* developer track record - lalo na kung pre- selling
* parking slots - enough ba? may visitor's parking ba?
* units per floor
* ilan ang elevators
* target market of the condo.. pag masyadong mura.. usually magugulo yung mga nakatira..
* how big are the units.. kung mostly studio and 1 bedroom.. masyado madaming tao yan.. malimit mga yuppies nakatira.. madami bisita.. maingay..

[Retz]

Ano ba okay na developer:

1.) Megaworld
2.) DMCI
3.) SMDC
4.) Alpha Land

Sa Binondo area, ang dami na rin mga Condominium na tinatayo....

[cast_no_shadow]

Ano ba okay na developer:

1.) Megaworld
2.) DMCI
3.) SMDC
4.) Alpha Land

Sa Binondo area, ang dami na rin mga Condominium na tinatayo....

(Medyo class ang dating)
Megaworld
Rockwell
Century Properties


SMDC crowded ang gawa nila, andaming units per floor. Iba dumiskarte si henry sy hindi exclusivity ang habol niya.

[cast_no_shadow]

If im to choose yun tipong titirhan ko or ipapamana sa anak ko i'll still go for the house and lot, pero kung investment purposes its worth a try.
My aunt she's (US citizen na), she bought a condo sa rockwell area, pre-selling nung kinuha kaya ang laki ng price difference kung ikukumpara mo ngayon. SInce bihira lang siya nauuwi ng pinas pinaparent niya muna, fortunately mga expats ang tenant niya. Usually isa lang ang nakatira sa unit niya kaya hindi las[pag and mabababoy yun unit. Per contract pa ang bayad kaya minsan yun payment for 1 year nakukuha na niya ng isang bigay, bukod pa yun bayad sa parking niya. Kaya the way i see it its a good investment in businessman perspective.

I agree with vinj ganda nung inputs niya na points to consider.

[iOz]

Things to consider:
- Developer, particularly their track record on delivering the condo unit on the schedule promised and their reputation for build quality. Take note also of the contractor of the developer.
- Location vis-a-vis transport hubs/lines and main roads.
- Parking Slot: Always get one as this will make your unit easier to rent, easier for you and your family if you use it, easier to sell later on. You can also rent the parking slot separately.
- Look at the condo layout and density per floor. Also look at the provisions for the kitchen exhaust and if there's cross-ventilation designs to the building (DMCI is beginning to do these with their high rises).
- How many elevators are there vis-a-vis the building height and density.
- Check out the old projects of the developer and see how they turned out.
- Get an estimate of the condo association dues, move-in fees, water utility. May monthly fee din if you have a parking slot.

On the condo size, it depends on the end-user and your target market for rental if you plan to rent it out. If you're in a CBD and want to rent it to office workers, then you'd be looking at a smaller condo unit with one bedroom or a studio type as these people would be looking for the cheaper rentals. Problem here is marami nang nag-offer ng small condo units all over so marami kang kalaban for rental and if you use it personally, it will be too small for you.

If your target market would be transient families or expatriates then you'd want to consider a CBD condo with two to three bedrooms that's near a park and other entertainment venues; mas mahal din ang rental so limited ang market for these. Personally i'd go with a bigger is better stance as it's more flexible and there are less people who can afford to buy the bigger condo units.

On whether you can flip it/sell it in the future with good returns, that's an iffy question since right now the market has an influx of a lot of new projects and financing is relatively attainable for prudent working class person. It's better that you decide to buy because you either plan to use it as a family place when you're in the city or when your kids go to school, or you plan to rent it out. The Fort is a little far off from the usual Ateneo-La Salle-UST-UP areas though so when your kids go to college, malamang maghihingi sila ng car plan from you. :D

I totally agree with your points * sir vinj. I think you already said what the ts wanted to hear.

[shadow]

I was offered a good payment term for a condo unit in the Fort area. Since I was offered a pre-selling price, I was told I can sell it in the future with good returns. I may also rent it out at a good monthly rental price. I may also decide to use it when my children goes to college, but I think Fort is a little far from the big universities.

Is buying a condo unit a good investment? If I'm going to sell it later or rent it out, how many bedrooms should I get for easier disposal?

2 bedrooms at least...huwag ka bili ng 1 BD or studio..walang kwenta

[stickers]

investment wise (planning to sell it later or having it rented out) ok sya..
but kung para syo or as future property ng kids mo, not to good at all..

like what asb75 says.

[c_cube]

Good investment naman ang condo basta nasa preselling period ka kumuha dahil sigurado pataas naman presyo niyan lalo na fort area.

pero kung mag iinvest ako, sa lupa nalang o kaya sa townhouse. iba kasi ang may lupa eh

[niwde11]

2 bedrooms at least...huwag ka bili ng 1 BD or studio..walang kwenta

depende sa location kung paparent mo. dun sa alam ko medyo natetenga ang 2bedroom sa rental. while yung 1bedroom halos di natetenga. ayaw pa nga umalis eh.
same goes with selling. yung 2 bedroom medyo matagal madispose while yung 1bedroom mas madali madispose.

[cpsolt]

begin with an end in mind.
what would you need a condo for? titirahan mo ba o pauupahan mo?
what kind of investment do you want? will you be selling it sooner or later or for keeps mo sya till the developer decides to buy it back and build a new project for it.

[boybi]

Federal Land ang developer. Medyo highend sya.

How many units ba per floor ang considered na madami?

5 elevators serving 42 floors (pero service elevator yata yung isa)

May mall sa baba so pwede dun magpark ang bisita.

Right now, investment sana ang purpose ko for buying a unit. But upon turn over ng unit, baka I may decide to use it depende na sa circumstances by that time.

Gaano ba kadali mabenta ang mga condo units dyan sa Fort area? and anong ballpark figure ang returns on investment?

[_Qwerty_]

medyo madami na ding condos sa fort.. check mo sa mga online selling shops.. daming for sale.. usually nasa 100T to 130T per sqm na sa fort.. depende sa location and developer..

my boss recently disposed his unit in one of the Ayala condos sa fort.. 3BR.. medyo mahirap maghanap nang buyer..

[c_cube]

Federal land? Yan ba yun malapit sa kalayaan side na? O tabi yata ng lexus? Ok naman fedland nun na check ko yun bay garden nila sa macapagal. Hndi crowded per floor na di katulad ng smdc na pila daw sa elevator pagrushi hour

Sa fort ang 1BR 40K per month ang rent sa ngayon.

Ayaw nyo yun malapit sa high st?
Dati nagtanong ako alveo south boni 4.5M 40sqm na 1 bedroom

Tas avida sa may lexus, 40sqm na studio type, ikaw nalang magalagay partition kung gusto mo ang presyo sa pagkakaalala ko 3M o 3.5M yata. Ito pinaka murang nakita ko sa fort.

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[ano727]

I was offered a good payment term for a condo unit in the Fort area. Since I was offered a pre-selling price, I was told I can sell it in the future with good returns. I may also rent it out at a good monthly rental price. I may also decide to use it when my children goes to college, but I think Fort is a little far from the big universities.

Is buying a condo unit a good investment? If I'm going to sell it later or rent it out, how many bedrooms should I get for easier disposal?

Which condo is this and by which developer? The sales person is not the most reliable person to believe in, you can do your own research or we can give comments about particular projects and developers.

Condo investment can be good and bad, depending on location (where specifically in the Fort), price point you acquired it (pre-selling at how much per sqm), the developer, then later on, also depends on the homeowner's association. Also, be ready to pay monthly association dues which can range from P60-P200 per sqm depending on the amenities and branding.

At The Fort, don't think that it will be easy to rent it out, there's so much over supply right now. Rentals will be better once more offices migrate to The Fort especially call centers, or if graduate schools and business schools start appearing at The Fort, because these are the primary renters of condo units.

If selling later on, return on your investment depends on how low is your acquisition price, the running market rate when you sell it, and the level of improvement (or degradation) done to the condo unit.

[_Qwerty_]

i think the condo he is referring to is Park West.. near Lexus.. medyo malayo sa mga amenities..

mahal na din parking slot dyan sa fort.. could go from 700T to 1M per slot..

[Phoenix67]

Kung around 2M to 4M lang, worth na investment - kasi madali lang ibenta ang ganyang price range assuming location is good. At kung ipaparent, puede pa ring iparing paupahan.

Pero kung nasa 10M or more na yan, kahit maganda location mahirap ng ibenta yan....pang sariling gamit puede.

[dr. d]

I was offered a good payment term for a condo unit in the Fort area. Since I was offered a pre-selling price, I was told I can sell it in the future with good returns. I may also rent it out at a good monthly rental price. I may also decide to use it when my children goes to college, but I think Fort is a little far from the big universities.

Is buying a condo unit a good investment? If I'm going to sell it later or rent it out, how many bedrooms should I get for easier disposal?

it's just like buying a car you don't really need.
btw, the spiel you mentioned is typical.. i think condo salespeople all went to the same training session. almost verbatim..
at pag mamalasin ka... you'll own a condo in a building that's practically empty... because all the buyers are "investors" and not users..
heh heh. worse case scenario..
good luck.

does anybody know just how "permanent" a condo is going to be owned by its ower? unlike real estate, buildings are not forever..