KuyaBord

Before we can give you tips, first we need to know more about you and this condo. Things like:

1. What's the condo unit for (a place for you to live or as a rental income generating asset)?

2. Is it brand new, off the plan condo or is it old unit (how old)?

3. Where is it located e.g Makati, Ortigas, Laguna, Bulacan, Davao?

4. Have your sorted financing yet? How much down and whats the mortgage interest rate?

5. How much is the condo? Have you done the math on total cost of owning this condo? CAN YOU AFFORD IT?

I got dozens more questions, but at the top of my head, these needs some answers first before we can answer you in a manner that makes sense. Without these info, we can't add that much of a value.

Good evening sir Johann,

1. Yes, planning on living once it's finished.

2. Brand new, pre selling.

3. At Mandaluyong, pioneer st.

4. Financing im going to talk with the agent if there's bank financing. Their longest is 10 year plan term.

5. Price is almost 2Mphp. The computation given to me for the 10yr term costs around 24k per month. In my current salary it goes within my budget.

it's always good to buy a condo when it is still in a pre-selling period. just pay for the reservation and initial DP of maybe 5% or 10% in 2 to 4 years time. After that before you start the remaining balance, the value of your condo is already appreciated.

 

just make sure that location is very important when looking for a condo (ex: located in prime location, flood free, nearby commercial establishments, hospitals, grocery, schools, church, and accessible thru public transportation such as jeepney, MRT, LRT), this is to ensure the value will appreciate by 15% to 20% yearly, and your ROI will be 5 to 7 years.

 

just my two cents.

Yes sir Hari ng Spakol, pre selling with 3% downpayment

Good evening, I hope it's ok to post it here since financial related. I'm planning on buying a condo unit. Any tips? Thanks