- Cost – even if you have a million peso allotted for a house, it may not still be enough if you are looking for something convenient that is near to the commercial centers and central business district. While for a condominium, you’ll be asked to pay a lower down payment or even no down, which is normally located on a prime location where everything you need is just in your door step. Most condominiums nowadays come furnished. It is up to you to add more fixtures or furniture according to your taste.
- Papers required – you will need to submit lots of requirements to buy house if its privately owned. While for a condominium unit, the property developer can help you about your unpaid balance. Normally, most of the condominium buildings are tied up in a different banks and the developer can help you supply with the documents needed for the bank loan. You can even apply for an in-house loan if you want too.
- Monthly payables – most of the pre-selling condo units is being offered at no downpayment. You are not required to pay for the whole amount yet during the duration of the construction. Once done, your monthly payments should be done to the bank if you bought the house or a condominium through a loan and that would be with interest and until the loan has been fully paid. Remember that you’ll own the property in a few years’ time and think of it as a good investment for you. You can either sell it in the future or rent it out.
- Maintenance cost – every repair for your home will be shouldered by you. Also, prepare for the payment of the yearly property tax or subdivision dues. For a condominium, added expenses are for the association dues. This goes for the amenities you’ll enjoy like use of swimming pool, gym, basketball court and guard services. Something that you can't find if you buy a house.
- Property value – expect that the house or condominium you bought will have an appreciation value which will benefit you if you opt to sell it in the future especially if it is located in the Makati area. It may have cost you an arm and a leg but think on what it will be valued after several years. The minimum price increase of every condominium units in Makati is 5%.
To know more about the condominium development of Megaworld in Makati. Please contact 0915.908.9849 or email email@example.com, you may also send your inquiry using the form here.