tips to look for in a condo before buying

[jusipus]

guys, tanong ko lang kung ano yung mga dapat i-check bago bumili ng condo.. also, alam nyo ba yung cambridge village sa may pasig? im planning to get one, any tips or advice? ty =)

[_Qwerty_]

una.. check mo yung track record nung developer.. marami na ba silang projects?? ok ba naman ang itsura?? try to visit one of their previous projects para makita mo kung ano itsura.. nadeliver ba nila on time yung past projects nila??

kung sa actual condo naman na bibilhin mo.. check mo yung location.. malapit ba sa public transport?? binabaha ba?? may mga squatters ba sa palibot?? may malapit bang grocery? palengke? school?

[torque2006]

camrbidge village pros and cons

pros:
- cheap
- accessible: to a park, to ortigas cbd, supermarkets, pasig palengke, eastwood.

cons:
- binabaha ang harap
- floodway area is full of squatters

[Lemon]

First to check talaga is your developer. I will stick with big developers like Ayala(not sure about Avida), Robinsons, DMCI etc. Kasi these developers ay proven na. Hindi nila pababayaan mga bldgs nila because they have an image to protect. Kaya you won't see any bldg from these developers na panget or napabayaan. Turnover is always on time. You should also check their existing projects. I was really impressed with the projects of DMCI. Well planned lahat and hindi crowded. And madami din space na ina-lot para sa gardens and greeneries. Kaya before you decide, sabihin mo sa agent i-tour ka nya sa previous projects nila. Especially, check mo yun mga 5yrs and older na mga projects nila. Kasi this is how the property your eyeing will probably look like in the future.

Second is location. No need to explain this one.

Third for me is the price. Dami condos na overprice just because prime ang location nya. Pero you should check and compare prices. Try looking at those condos na mura pero hindi naman ganun kalayo sa Business district.

Lastly, the project itself. Dapat hindi cramped or crowded yun lugar. Maganda layout ng units. Single loaded corridor is a plus for me. Mataas dapat ceiling heigth(at least 2.4meters). Check mo din mga materials na ginamit. I shy away from expensive condos tapos vinyl lang flooring and cheap looking ang kitchens.

TIP : Kung hindi ka naman nagmamadali, it is better to get one hangat pre-selling pa yun project. Dito makakamura ka talaga, tapos ang haba ng terms kaya hindi mo gaano ma-fe-feel yun hinuhulugan mo. Tumaas na ng 30% yun price nun condo na nabili ko, and expected ng tumaas yun price as it nears turnover(2008).

Hope this helps.

[Galactus]

One thing about condos kasi, usually after 50 years (or depende sa terms in the Master Deed), revert yung ownership back to the developer.

Kaya hindi rin puwedeng ipamana. That's according to our bank appraiser here. Kaya better investment daw ang townhouse

[Lemon]

One thing about condos kasi, usually after 50 years (or depende sa terms in the Master Deed), revert yung ownership back to the developer.

Kaya hindi rin puwedeng ipamana. That's according to our bank appraiser here. Kaya better investment daw ang townhouse

Dapat Perpetual Ownership ang bibilin mo. Kung hindi P.O., after 50years or so, balik na sa developer yun ownership. Lots of buyers are not aware of this.

[_Qwerty_]

hindi na uso yang after 50 years balik sa developer.. a condo now is owned by the Condo Corp.. na ang mga members eh yung unit owners.. ang 50 years na sinasabi eh yung lifetime nang isang corporation sa Philippine law.. after 50 years.. you can always make another corporation naman..

Pero iba don sa mga CondoTel.. I think medyo tricky pag condotel ang development.

additional.. sa isang condo.. tingnan mo din yung foot traffic per floor and for the whole building.. ilan ba ang elevators?? may service lift ba?? ilan ang units kada floor?? kung lagpas nang 20 ang units per floor.. eh medyo madami na yan.. so expect na maingay.. at medyo matagal maghintay nang elevator.

Avida naman is a subsidiary of Ayala.. it used to be Laguna Property Holdings.. it caters to the low end project of Ayala. Community Innovations naman is for the mid-income level, tapos yung Ayala land Premiere naman caters to the high-end market.

[ncncn]

sometime in 2005 i personally visited that cambridge village, one thing na hindi ako sold is the location kaya i backed down from the deal. pero i thing learned from cambridge eh hindi sya leasehold property which is a good thing.

[kedeka]

thanks sa mga inputs...plano ko rin bumili pero sa Gramercy Makati naman...oks kaya rito?

[_Qwerty_]

hindi naman lahat nang pre-selling ay risky.. tama na mas mababa ang presyo.. usually a condo takes 3 years minimum bago matapos.. maraming pwedeng mangyari in 3 years. Ngayon if you buy from a reputable developer, sure ka na tatayo yung building, nakakuha sa murang price at nakapili ka pa nang magandang unit.

May mga projects ngayon na you don't pay sa developer straight pag pre-selling. Your payment goes thru a trustee bank at magagalaw lang nang developer yung pera kung para sa project, so sigurado kang yung binabayad mo ay don talaga sa project pumupunta, progressively and based sa construction update ni re release nung banko yung funds don sa developer.

Eto yung mga tinatawag na BTO (build to own) systems, meron nang ganyan sa Fort Boni, you go in pag pre-selling, then all the payment is deposited to the Trustee bank. They usually give 6 months sa pre-selling or 60% units sold, otherwise hindi nila sisimulan yung project, pag hindi nag push through yung project, your payment is returned with corresponding interest.

minsan kasi, kung talagang maganda ang project at reputable ang developer.. if you don't buy sa pre-selling and wait pag natapos na yung project, chances are, wala ka nang mabibiling unit dahil minsan within 1 year sold out na ang project, ofcourse makakabili ka.. pero 2nd owner ka na.. so mataas na yung babayaran mo.

Meron namang mga developers na malalaki, maraming projects, pero delayed parati ang mga turnover.. kasi ni ju juggle nila yung funds.. so nasa 2nd project na.. ni fu fund pa lang yung 1st project.. pano kasi yung funds don sa 1st project nabulsa na.. eto yung dapat iwasan..

[_Qwerty_]

condo units DO appreciate.. lalo na kung maganda yung location..

pag brand new naman.. may mga options na binibigay.. start pa lang alam mo kung bare yung unit.. or kung fully finished.. or kung fully furnished.. in all condo purchases.. bakit mo naman tatanggapin yung unit na brand new na maraming problema?? syempre kung may problema.. papagawa mo muna yun don sa contractor bago mo tanggapin.. kaya may mga walk through or punchlisting na tinatawag.. you don't just pay, then wait for turnover then accept the unit pag tapos na.. you have to inspect the unit, pag may problema dapat gawin..

let's take Ayala Premiere condo units as example, pag sa ayala ka bumili, mas less headaches pag turnover kasi sila mismo ni i inspect na nila yung unit.. tsaka pulido ang pagkafinish nila.. I know because our company has a unit at Boni Ridge and I have friends that have units at Serendra na kaka turn over lang.. ibang iba talaga pag Ayala ang gumawa..

basta when buying condo's buy pre-owned units.. units don't really appreciate.. kaya its a better bet to buy pre owned.. sobrang daming condo units ang available ngayon..since maraming unit owners ang nalilipat sa malayong trabaho so nahihirapan na magbayad ng association dues, at amortization, tapos wala naman silang balak ipa renta yung unit kase baka mababoy..


don't get caught on those glossy pamplets.. interior designs lang yun.. pagkuha mo ng unit mo bare yan..sobrang layo sa nasa brochure.. tapos madami ka pang gagastusan for repairs.

believe me.. sasakit ulo mo sa condo unit na brand new.. much better buy pre-owned para naayos na nung may ari yung interior.. madalas furnished pa

[sherwintommy]

May mga projects ngayon na you don't pay sa developer straight pag pre-selling. Your payment goes thru a trustee bank at magagalaw lang nang developer yung pera kung para sa project, so sigurado kang yung binabayad mo ay don talaga sa project pumupunta, progressively and based sa construction update ni re release nung banko yung funds don sa developer.

Eto yung mga tinatawag na BTO (build to own) systems, meron nang ganyan sa Fort Boni, you go in pag pre-selling, then all the payment is deposited to the Trustee bank. They usually give 6 months sa pre-selling or 60% units sold, otherwise hindi nila sisimulan yung project, pag hindi nag push through yung project, your payment is returned with corresponding interest.


+1 with that........correct,,sa the Fort....meron dun,,,Icon ang unit,,excell ang developer....

[_Qwerty_]

may mga condo unit siguro na hindi nag a appreciate.. pero hindi lahat..

example.. a condo in Boni Edsa.. when it was up for pre-selling in 2003, units facing Edsa were selling for 1.8M, ngayon, same units go for 2.8M to 3M.. Boni Ridge units at Fort nung 2002 with golf course view eh 10M up, now it starts at 12M to 15M. Even Serendra units when they started pre-selling in 2004 have appreciated na in prices now.

di totoo na tumataas ang value ng condo unit.. di naman lupa yan e.. kahit nga bangko ayaw tanggapin ang condo unit as collateral..

ang mga nagsasabi lang na tumataas ang unit yung mga may ari ng unit at developer.. masasabi mo lang na tumaas value ng unit mo kung nag agree yung buyer sa price..

pero pumasok ka sa mga existing condo's at makikita mo sobrang dami ng 'for sale' na units..


andami kong kilala na puro palabas pera nila sa nabili nilang condo unit..amortization, association dues, expensive water etc.. tapos di naman natitirhan kaya gusto na ibenta.. ang problema walang gustong bumili, kase gusto ng buyer brand new..hehehe..

it only takes some quick thinking to figure it out.

[_Qwerty_]

seems like there's no use having a discussion with you dahil puro negative lang naman yata ang alam mong sabihin..

so don sa threadstarter.. goodluck na lang and happy condo hunting!

[sherwintommy]

di naman negative..i'm basing it on comments from people who actually owned condo units..

kakatakot bumili ng condo unit.. isipin mo pag nabaon ka dyan..kung ilang taon mo na yan babayaran

rather rent first.. at least wala kang risk, you could transfer to another unit or condo whenever you want, .... you still have your money with you.. mahirap ang condo.. pag bumili ka tapos di mo nagamit talong talo ka, kahit di mo ginagamit bayad ka ng bayad ng libong association dues.... pag pina renta mo naman bababuyin at sisirain ang unit mo..

siguro yun mga comments you based are from those unsatisfied owners of condo units...madami naman owners na satisfied din sa unit nila eh....pero it pays to be informed from the pros and cons regarding this issue.....

[mazdamazda]

don't mind the posts of pogingpogi... he's mike01 fyi.

carry on now gents!

[_Qwerty_]

yup.. typical troll.. thanks mazdamazda

[oliver1013]

To the thread starter baka makatulong to, guidelines namin sa office..

“What you must know in your condo project”

BUILDING FEATURES:

1. Name of Building
2. How old is the building? (year of completion if available)
3. How many floors of residential units?
4. How many floors of office units?
5. How many floors of upper floor parking?
6. How many basement levels of parking?
7. Are the parking slots tandems, lift?
8. Are there guest parking?
9. How many elevators?
10. Is there a service elevator?
11. Is the building 100% power backed up?
12. If not, is there a generator? What electrical outlets can be used during brownouts?
13. Is the aircon centralized?

UNIT FEATURES:

1. Unit No.-
2. Parking slot no.-
3. Is the unit read y for occupancy?
4. If not, what is the condition?
5. Is the unit improved? With partitions?
6. Is there a T&B inside the unit?
7. Can they construct one inside the unit?
8. Is there aircon? What type? What is the HP?
9. What is the floors area? What is the useable Floor area?
10. Is there fire exit?
11. Are there fire sprinklers?
12. How many provisions for the telephone lines?

EXPENSES:

1. How much is the dues?
2. Does the due include the parking slot?
3. What is the mode of payment of the dues? Monthly, quarterly or yearly?
4. Is there discount for advance payment of dues?
5. Does the due include the real estate tax on the common areas?
6. Is the owner updated with the association dues?
7. Is the unit insured?
8. Is the owner updated with his real estate tax?
9. Do they pay water bills thru the admin office?

DOCUMENTS NEEDED:

1. Brochure of the building with floor plans, if available
2. Master Deed of Restrictions
3. Copy of the CTC of the unit
4. Copy of the statement of dues so you can see the breakdown and exact amount
5. Floor plan, some tenants need to study the layout.
6. Authority to lease or sell. We will have a common form.
7. Turn-over list (to be provided to the team)
8. List of requirements for move-in
9. List of requirements for renovations.

[oliver1013]

don't mind the posts of pogingpogi... he's mike01 fyi.

carry on now gents!

Heeeeeeesss baaaaacck!! pero buking parin

[Isuzoom]

location...location...location