Like all properties, a house and lot is a great investment. However, it gives you a lot of things to consider. If you want to start from scratch, you need to save a considerable amount of money. Afterwards, you need to employ people who will work on your customized home.
Of course, completing structure doesn’t happen overnight. It takes several months to finish and polish the final details of your new home. Though the same is true with other real estate properties, a ready for occupancy (RFO) condominium removes the hassle of bringing your dream home to life. The place is furnished and filled with what might be your necessities as time flies.
If you plan to purchase a property before the year ends, you have to consider your lifestyle, location, and budget. A condo in Lahug might be something you need because of work or a loved one. Before you secure a date with your local agent, consider these five things to ensure you are going to the right path.
The price fits the budget
When planning to purchase a new unit, it’s important to make sure you can afford its price. Asking for the required downpayment, monthly dues and other hidden fees allow you to budget your money. Moreover, it gives you time to save for upcoming expenses that may arise from closing the deal.
Your new home or investment should complement your lifestyle and make life easier rather than add to the burden. The location of the condo must be accessible via various modes of transportation. Ideally, it must be close to your workplace or the children’s school.
Most condominiums are located in the center of the city or business districts. You can choose a unit near stores and restaurants as well as establishments that offer services such as banks, hospitals, and the post office.
It’s also important to consider if structures are blocking the view of the building. An obstructed view is not only unappealing, but it also poses a hassle as the tower block the flow of the air.
Most people enjoy condo living for the 24-hour security in the vicinity. Developers include well-lit areas in and out of the compound, security cameras, night patrols, alarms and gate guards. Homeowners even go as far as keeping a database of all the people living in the area.
In case of disasters, check if the place has a system to guide their occupants away from danger. The area should include an exit map and plan, fire extinguishers, smoke alarms and easy-to-spot fire exits. You cannot let these details pass you by as accidents are always lurking in the corner.
People living alone have no problems with condo size unless the amount of stuff they have rivals those of a family.
If you are buying a condo for your family, consider the number of people who will occupy the unit. At the same time, ask them how much space they would need for their stuff and if they are willing to share it with others. Condominiums often pose a limitation because of the lack of space. Hence, you need to identify how much space do you need to occupy.
Besides the size of the condo, it’s a must to consider which features do you want to appear in the unit. A penthouse, for example, has access to a private pool while a loft type unit has a second floor.
Rules and regulations
It’s a must to take note of the essential information on the development. This will help you decide if you should go for it or not. It will also help you gauge if the condo is worth the price.
The unit may come with rules and regulations that aren’t helpful for you. It may come with a no pet or no guest policy. The developer or in-house maintenance may not be available after a year or a few years down the road. Whatever the deal breaker may be, remember to stand firm on what you and your family want and need.
Considering the factors and adding them to your checklist doesn’t mean you are choosy. Choosing the condo that best fits your lifestyle is the most important thing in having an investment coupled with comfortable living.