Living in a condo

[vinj]

I'm looking for parking for rent. Avida Towers San Lorenzo. Pasong Tamo. Lesson learned, buy parking.

Yep, parking is always worth it and if you buy it together with the unit, you can include it with the unit amortization if you are doing the purchase through bank financing.

[ssaloon]

Ok next review is the 2 bedroom unit.

Remember ako lang magisa tumira.

Ito 2 bedroom unit ang masasabi ko people's choice. Marami ako nakasalubong dito na hi! hello! how are you! Magandang umaga! Smiling crowd.

Some of them let me enter their unit. Grabeh sa liit ng unit pero jampacked appliances at maseselan dami designer clothes. Naalala ko tuloy nung sumikat na jeans around 1998-2002 i forgot the brand parang gauliter jeans, remember yun marami tag/patch/logo sa likod.

Pero nakaka-sad ang two-bedroom unit for a family of four. Pag gising mo labas ng kwarto ang sasalubong sala/kitchen agad. Bawat ikot mo puro pader. Napansin ko din lagi sila nasa balcony tapos nagpicture-picture parang iniisip to ease the pain "bakit ba ako bumili ng condo? Pero naka fake smile.

But for me kung mag-isa ka lang livable naman ang 2 bedroom.

I guess it depends on the size of the unit, as well. Kami, 2 BR unit na 93 sqm, family of 4 plus 1 yaya, ok naman kami.

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[JEMANGALINDAN]

SMDC, is it worth your money?


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[StockEngine]

SMDC, is it worth your money?


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as an investment? are you going to rent it out?

[dr. d]

SMDC, is it worth your money?


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if you will use it, yes.

as an investment...
my colleague bought a couple, some years ago, pre-selling. malapit sa schools. hirap i-benta nang may profit ngayon..

for rent... it depends on the location, and on the competition.

imagine a condo bldg, half the number of units "purchased for investment" or "for rent". think of the competition...

i bought one unit.
i'm happy.
i'm using it.

[JEMANGALINDAN]

if you will use it, yes.

as an investment...
my colleague bought a couple, some years ago, pre-selling. malapit sa schools. hirap i-benta nang may profit ngayon..

for rent... it depends on the location, and on the competition.

imagine a condo bldg, half the number of units "purchased for investment" or "for rent". think of the competition...

i bought one unit.
i'm happy.
i'm using it.

thanks po doc![emoji1360]


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[kagalingan]

hirap daw mga taga condo ngayon. Madumi lumalabas sa gripo color yellowish. Yiikessss.

[dr. d]

hirap daw mga taga condo ngayon. Madumi lumalabas sa gripo color yellowish. Yiikessss.

not ours.
ours is clean.

baka sa true qc...?

[kagalingan]

^
doki

high-rsie ka ba or the dmci type na 5th floor to 7th floor tops.

EDIT: by the way dok. Sa pasig and shaw yung madilaw. Both mataas na gusali.

[_Qwerty_]

sa amin din malinis.. baka depende sa condo..

[ice15]

imagine a condo bldg, half the number of units "purchased for investment" or "for rent". think of the competition...

Same thing I keep telling people who ask me if a condo is a good investment... Minsan tingin sa akin ng mga tao, weirdo. Pero yun ang experience ko sa first condo ko... talo ako ng 1M! (mabenta lang)

Kung titira ka, its very good.
Kung high end condo yan, then ok din

Pero DMCI/SM... Paano ka tutubo sa unit mo kung may tinatayong pre-selling sa tapat mismo ng building nyo.
(although, may mga taong swerte magbenta)

One thing I like with SMDC... di pwedeng gamitin ng "short term renters" yung facilities nila

[CVT]

Same thing I keep telling people who ask me if a condo is a good investment... Minsan tingin sa akin ng mga tao, weirdo. Pero yun ang experience ko sa first condo ko... talo ako ng 1M! (mabenta lang)

Kung titira ka, its very good.
Kung high end condo yan, then ok din

Pero DMCI/SM... Paano ka tutubo sa unit mo kung may tinatayong pre-selling sa tapat mismo ng building nyo.
(although, may mga taong swerte magbenta)

One thing I like with SMDC... di pwedeng gamitin ng "short term renters" yung facilities nila

Bro.,- bakit bumagsak by P1M ang presyo ng condo mo?

Hindi mo na nahintay na maka-recover ang presyo ng condo?

[leonleon]

Same thing I keep telling people who ask me if a condo is a good investment... Minsan tingin sa akin ng mga tao, weirdo. Pero yun ang experience ko sa first condo ko... talo ako ng 1M! (mabenta lang)

Kung titira ka, its very good.
Kung high end condo yan, then ok din

Pero DMCI/SM... Paano ka tutubo sa unit mo kung may tinatayong pre-selling sa tapat mismo ng building nyo.
(although, may mga taong swerte magbenta)

One thing I like with SMDC... di pwedeng gamitin ng "short term renters" yung facilities nila

Sabi nga ng uncle ko na mahirap magbenta ng (lumang) condo.

Dami-dami kasi bago na tinatayo.

[ice15]

Bro.,- bakit bumagsak by P1M ang presyo ng condo mo?

Hindi mo na nahintay na maka-recover ang presyo ng condo?

Di naman "bumagsak"

Binili ko sya more than 10 years ago... Isa sya sa mga unang high-rise sa QC.
Pero binili ko nang nakatayo na yung building.

Nung na-assign ako abroad. naisip namin mag-asawa na ibenta na lang since maluluma lang nang walang nakatira + condo fees,. insurance, taxes na kailangan bayaran.

Nung ibebenta na namin, unti unti nang mag tayo mga SM/DMCI sa area (pre-selling nila was cheaper than my condo unit)
Tapos yung mga bumili ng pre-selling price "for investment" - naka advertise mga unit nila * pre-selling price (mabenta lang)

So para mabenta unit ko, kailangan ko sabayan yung mga naka-advertise na "kapit bahay" ko.

Before the sayang ang 1M comments...

1. We did not buy parking - which was a big mistake...
2. Almost 15 yeas na kaming wala dyan, so *50 years lifespan ng Philippine building, 35 years na lang yung unit. kung another 10 years pa kami dito... 25 years ko na lang pakikinabangan yung condo
3. Di ako natuwa sa kinabasan ng first 4 floors - mall dapat sya kaso nung bagong tayo yung building, puro pirated DVD ang laman.

[kagalingan]

yung sinasabi 50years eh maeextend yan for another 50years kasi maguusap-usap lahat unit owners to extend. May lawyer na nagsabi nito dati.

Malabo yan mababawi ng developer after 50years. Eh di nagkagulo.

Ilan na ba nauna residential high-rsie na naka 50years na at binawi?

[ice15]

yung sinasabi 50years eh maeextend yan for another 50years kasi maguusap-usap lahat unit owners to extend. May lawyer na nagsabi nito dati.

Malabo yan mababawi ng developer after 50years. Eh di nagkagulo.

Ilan na ba nauna residential high-rsie na naka 50years na at binawi?

If I remember correctly... Kailangan ma-inspect yung building, plus a certain percentage ng owners must vote to keep the building, and repair/retrofit the building of required.

That is if the developer owns the land. In those cases na ni-rent lang nila, then wala silang choice.

As for the building na 50 years old na... look at the buildings of Escolta... Yung iba nga "historical" daw, pero demolished pa din.

After 50 years... sobrang luma na nung building and amenities, malamang nasa ibang condo ka na din nun.

[kagalingan]

ito napasearch ako

What Will Happen To a Condominium Investment After 50 Years?

Posted by: Joanne Almaden in Condominiums, Real Estate Investing, Real Estate Laws On:September 9, 2013 Last updated: April 1, 2018

This is one of the most common concerns raised by condominium buyers. And it is a very relevant question to ask especially since we are talking about millions of money here.

In the Philippines, there is a law that protects the interest of the unit owners in a condominium project. This is the Republic Act 4726 or The Condominium Act of the Philippines which was mandated on June 18, 1966.

To answer the concern of the condominium owners and the would-be owners, here is an excerpt of the act.


SECTION 8. Where several persons own condominiums in a condominium project, an action may be brought by one or more such persons for partition thereof by sale of the entire project, as if the owners of all of the condominiums in such project were co-owners of the entire project in the same proportion as their interests in the common areas: Provided, however, That a partition shall be made only upon a showing:

That three years after damage or destruction to the project which renders material part thereof unit for its use prior thereto, the project has not been rebuilt or repaired substantially to its state prior to its damage or destruction, or
That damage or destruction to the project has rendered one-half or more of the units therein untenantable and that condominium owners holding in aggregate more than thirty percent interest in the common areas are opposed to repair or restoration of the project; or
That the project has been in existence in excess of fifty years, that it is obsolete and uneconomic, and that condominium owners holding in aggregate more than fifty percent interest in the common areas are opposed to repair or restoration or remodeling or modernizing of the project; or
That the project or a material part thereof has been condemned or expropriated and that the project is no longer viable, or that the condominium owners holding in aggregate more than seventy percent interest in the common areas are opposed to continuation of the condominium regime after expropriation or condemnation of a material portion thereof; or
That the conditions for such partition by sale set forth in the declaration of restrictions, duly registered in accordance with the terms of this Act, have been met.

It’s not like you will buy a condominium property and then after 50 years, your investment will be gone, just like that. When a condominium project is fully turned over to the unit owners, it becomes just like a corporation, and you are one of the owners of that corporation if you have a unit there.

So it follows that you will have a “say” in the decision making as to what to do with the whole building, and if it has been decided that the property is going to be sold or demolished so that a new property will be developed on the area, you will get your appropriate share of the proceeds of the sale.

Just like any investment, your condominium property can last, can be profitable and can be passed on to your heir(s).

What Will Happen To a Condominium Investment After 5 Years?

[ice15]

ito napasearch ako

yup... mag bobotohan kayo and maghahati hati sa gastos (if required)

kung tama naaalala ko... parang 50% of owners at 50 years old, tapos tataas yung percentage kapag 75 years old na.

[2lits17]

mas maganda pa din mag invest sa lupa pag ikaw mismo titira. after 50 years pagiba mo bahay patayo ka bago sayo pa din lupa. condo after 50 years pag matanda ka na at kapos na sa pera san ka titira. mangupahan. ang mamahal pa ng condo ngayon dahil kaagawa mo mga chinese na namamakyaw ng condo units. plus the fact mga ka condo buddies mo puro chinese na sa pogo nag wowork. magugulo na sila at high risk pa sa sunog.

[_Qwerty_]

kung well maintained ang condo kahit 100 years pa yan hindi yan basta gigibain.. yung sinasabing 50 years eh life nang corporation sa Pinas.. after 50 years you can always create a new corporation.. and the unit owners own the building and the land.. so kung gigibain man yun at ibebenta.. may makukuha ka sa sale nang land..