What to Look For When Buying a Condominium
Date posted June 10, 2021
We’ve witnessed the vast landscape of urban lifestyles and central business districts become an intertwining characteristic of today’s developing cities. In Metro Manila, for instance, we can easily tell which cities serve as today’s “concrete jungles” – from Makati to Ortigas, Eastwood, and BGC – the telltale signs of progress are on the wall. Among other indicators, it’s infrastructure that primarily serves as a manifestation of a city’s growth and potential.
For this reason alone, it comes as no surprise when a property developer starts preselling a condo in C-5 Road – this can only mean that opportunity exists in and around the surrounding communities. Any individual seeking to start living independently can benefit from choosing the right place, whether it’s an apartment or a house. Deciding to live in a condominium, for instance, can greatly improve his or her quality of life. A family, on the one hand, can also choose to reside in a condominium if it presents them with better living options.
Condo Living: What Should I Know?
Condominiums, often shortened to “condo,” are single unit properties in a building, such as apartment-style buildings and multi-infrastructure complexes. Condos will often have shared spaces, like a lobby, gym, pool, and parking area for common use. Quite different from living in a house, a condo means that a unit owner or a resident has to learn how to have less control over his or her living spaces. There are less maintenance requirements to worry about, but neighbors and condo policies to be mindful of at all times.
That being said, before choosing to buy or live in a condo, here are some important factors to consider:
- Location – As the most critical determining factor, the location of a condo plays a role in its value. A prime spot, such as in the central business districts, will merit some pretty good resale value. A safe and secure neighborhood or a thriving community are some things to look at when choosing a location. This means that there are nearby hospitals, schools, and malls or grocery stores. Naturally, this also means that transportation is accessible, and convenience is at one’s fingertips.
- Amenities – Among the other perks of living in a condo, the amenities are an important factor to consider, especially since there can be many to choose from when looking at a condo building. Some condos will have a sauna or spa, indoor and outdoor swimming pools, private gyms, basketball courts, and many more, so one has to consider which amenities are the most beneficial. Thinking long-term helps, as these are things that one also pays for in their monthly dues.
- Lifestyle – A significant factor to evaluate is one’s lifestyle. When thinking about buying or living in a condo, one has to consider its many differences from living in a single, detached home. If it feels too costly for an individual to maintain a house, then a condo might make more sense. However, one has to make certain adjustments in their lifestyle as well, since most condos have rules that concern pet ownership, playing loud music, having guests for a party, and renovations.
- Size – While it seems like an obvious factor to take into account, one must do the prior research before committing to any real estate property ownership conversations. Find out the exact square footage of the unfurnished unit and imagine having to make accommodations for the necessary household items. Given an individual’s specific needs, not having enough space will warrant a reassessment of one’s living options. Consulting with a property specialist can also provide insight on the size of a condo unit – are you overpaying for a space in the sky, or are you making a wise decision that benefits your overall well-being? Be honest with yourself when a condo unit is too small for your needs. Look elsewhere as there are larger units available in the real estate market.
A condo’s location, amenities, your lifestyle, and the condo unit’s size are the primary determining factors to think about when considering condo living. It requires one adapting to a lifestyle that isn’t for everyone, oftentimes echoing a culture of hustle and instant reward systems. For those looking to tap the potential of living a comfortable and convenient lifestyle, condo living is more than worth the leap of faith.
Ortigas Land’s Maple at Verdánt Towers at Ortigas East
Ortigas Land, the esteemed real estate developer in the Philippines, has been conceiving and building master-planned developments for more than eight decades now. The Maple at Verdánt Towers, is the first of a trio of residential condominium towers, is currently in development along C-5, Ortigas, and Julia Vargas Avenue. A 16-hectare eco-estate for mixed use, it offers residents the lush green open spaces that are needed in today’s concrete urban jungle.
For any questions or inquiries, feel free to contact us now!