A good investment is a real estate property with a value that is more than the cost of purchase. Now that you are looking at a condominium for sale in Pasig, you must forget the romantic fantasy of urban living for a while and consider essential realities. There is nothing simple about buying a condo for personal use. However, you can do something to make it painless.
Keeping a Good Investment from Going Bad
After one leap, you are in the plunge. Before allowing yourself to be hooked, know the bait and what you are getting into. For instance, when taking a loan for the initial payment, you should consider whether the value of the property that you are buying will increase enough to take care of the interest. You also have to consider the amount and quality of interior improvements that you have to cover to boost the property’s value. A good investment today should only increase in value. If you do not consider this, you might be unable to recoup the costs. Also, the prominent address that you will be residing in might not be as desirable as a residential community in the future. These things should all be considered before you take the plunge.
Why Condo Living Is Different
For some, condominium living is heaven. For others, the experience is miserable—the biggest and most expensive mistake of their lives. Why are these experiences so extreme?
There is one more aspect of condo living that new owners often neglect to consider. Owning a condominium is not the same as possessing a single-family home. A condo owner is part of a community that shares certain benefits and responsibilities. The building maintenance is a shared responsibility and expense. This is a far cry from the setup that you typically expect from owning a traditional home.
Nevertheless, if an issue arises, you have to resolve it with other condo owners, as well as the property developers. In a single-family home, only family members concern themselves with finding a resolution. In essence, a condo association’s strength and reliability will largely determine the peace, quiet, and comfort of your urban dwelling setup.
Finding the Right Ally
Many real estate agents have experience in selling condominiums these days. Condo living is on the rise in all urban centers in the Philippines, and you can probably list fifty developments already rising from the ground in many cities. A condo is a unique type of residence, and you must be able to rely on an experienced agent to help you with contingencies.
You can ask your friends about the pros and cons of choosing a condo for a home. The enormous volumes of reviews online will give you ideas about the issues that condo owners are dealing with, as well as the benefits of their chosen setup. What are the specific drawbacks of condo living in the city where you plan to buy? If you want to avail of an excellent opportunity to own a unit with beautiful facilities and amenities, do not let anyone stop you. However, don’t go forward blindly.