After going through a tedious decision-making process, you’ve finally concluded that you’ll buy your first condo. Most often than not, choosing a condo over a house boils down to a lifestyle choice. Plus, condos are typically more affordable and located in a more accessible area.
Given these reasons, there are certain factors one must consider before signing a contract that binds them into a long-term agreement. Here are five of them:
We’ve said it before, and we’ll repeat it: if there’s one thing you must first consider when buying a condo, it’s the location. Most condo buyers have different intent in acquiring a condo, whether you will live in it yourself or make money out of it,, it’s paramount that you consider your condo’s resale value-- and this depends on its location. Aside from accessibility to major hubs and your workplace, is it located nearby major transportation options? Is it in an upscale neighborhood? Are there developments or ongoing infrastructure around the area?
You must also consider the view outside your unit if it’s something you cannot compromise.
Condos have the upper hand in this aspect versus traditional townhouses or horizontal type developments. Usually, condo amenities come with a fitness gym, park, swimming pool, and even cafes and lounge. However, all of these could also affect the cost you’ll need to pay, like your monthly fees. So it’s a double-edged sword. But if amenities are part of your non-negotiable list, you definitely should do your research first, list down your options, and narrow down your choices to the developments that have the amenities you’re interested in.
Unit size and layout
In the end, your unit size should depend on your lifestyle needs. Do not settle in a place you’ll feel too cramped to stay in and not purchase a unit with a layout that does not feel right to you.
If you’re buying a condo as your first investment, a smaller unit will do. But if you’re on it as an end-user, then definitely go for a size that supports your lifestyle. If you have existing furniture, ask about the exact measurements of the unit first so you can calculate if it would fit all your stuff.
Remember: It’s better to spend a bit more on a unit that feels like “home” and will serve its purpose, rather than settling in one that’s affordable but too small to accommodate the amount of space you need.
Parking and Security
These are part of a more thorough examination of the condos you’re planning to buy. The first thing you have to do is make sure that the development has designated parking spaces if you have a car. This usually comes with an additional cost, but it’s necessary to have your assigned parking space if you’re living in a condo development, so make sure this is sorted out before sealing the deal.
Next up is building security. Are there CCTV cameras? Do security guards do their rounds every night? Inspect the area or your unit first before moving in and assess if the neighborhood makes you feel safe.
Lastly, condo living comes with miscellaneous fees you have to cover every month. Aside from your monthly amortization, there are additional fees you need to settle, including your maintenance fees. This depends on your Property Management Office or Homeowners Association (HOA), for some.
The condo lifestyle has its perks and cons, but it all boils down to the convenience, accessibility, and comfort that more people decide to buy one. If you’re currently on the lookout for the best home options out there, Empire East offers reasonably priced condo units with high-class amenities and profitable locations.
Discover your home options
If you’re looking for a condo that’s accessible to BGC or Ortigas CBD, Empire East Highland City is your perfect match. This condo for sale in Pasig-Cainta is a 22-hectare township development rising at the periphery of Pasig and Cainta, Rizal. It is Empire East’s largest project in the making, and it houses four (4) grand phases: the 8,000-sqm Highland Park with a 500-seater church, the Highland Mall, the 37-tower Highland Residences, and the 6,700-sqm membership-exclusive The Chartered Club.
Good news! You can be a homeowner at the country’s first elevated city for as low as 9,000 monthly for five years! Under Empire East’s extended Home Opportunity Alert Promo, you can score up to 15% discount on its pre-selling developments like The Paddington Place in Mandaluyong City and Mango Tree Residences in San Juan.
Inquire and discover your best home options by sending us a message. You also send an email to firstname.lastname@example.org or call 8810-3333 / 0917-8EMPIRE.