It is always a hard task for young individuals to look for their first home. Acquiring a condominium unit may be challenging. With a lot of condominium offerings in the market, you must be guided to choose the best condominium unit just for you. It is better to be choosy and picky than having some regrets in the future. Remember that you are investing your hard-earned money, so your first condominium unit must be worth it. Here are some condo hunting hacks that you may take into consideration to have a hassle-free condo purchase.
Know your Cash Flow.
First thing to consider is how much you can afford. You must check on your cash flow. Consider all your expenses and income. With this, you can now check if you are really capable of paying the monthly amortization. Don’t make impulsive decisions yet, just like one day you reserve a unit, then the next day you change your mind because you can’t afford it. Let us be realistic and know how much you can afford so you can set the right amount of budget for your first home. You must have a clear source of money to pay the mortgage loan, living expenses and the costs of maintaining the unit. Be true to yourself whether or not you can afford to buy a condominium unit now.
Create a list of what you really need.
There are a lot of condominium offerings in the market. Price depends on the location, with different deliverable, with different amenities and lifestyle. So, it must be clear to you what you really need. Where do you want to live? Do you need grandeur amenities? Do you prefer high quality unit deliverable? Or you just wanted to prioritize your security and safety? These are sample of questions you must ask yourself before buying a condominium unit. Put some emphasis on things you must have, then these will narrow down your choices and will get the right unit for you.
Get flyers and brochures from potential developers.
Developers are still doing the traditional marketing like giving out flyer and brochures. Collect flyers and brochures from the sales agent. By reading these materials, you can compare each project and get to know the advantages per condominium. You can also talk to agents or brokers to know more about the project.
Do your own research.
With the great availability of mediums where you can do research, getting a condo unit is easier. You may search the web or social media accounts to do your own research. Read the reviews section. This will be a great guide before buying a condo unit since these are real comments coming from their clients. Good reviews for the service and unit deliverable indicates a hassle-free investment. So, choose wisely.
Read Lifestyle magazine.
Magazines feature various condo projects. Established real estate developers choose to showcase their project in well-known magazines. You may also get some tips in owning your desired condo unit and even decorating it with your own style.
Gather recommendations from friends and families.
It is one of a good way to get your desired condo unit by asking recommendations from your close friends and relatives who already have a property. Talk to them about their purchases, how to manage the expenses for the monthly amortization and unit maintenance. Know more about their experience in the Developer’s service. Of course, you wanted to do transactions easily and hassle-free.
Inquire with a Broker or Property Specialist.
First, talk to them with all your requirements from location, budget and unit size preferences. Most of the real estate property specialist offer great discount and promos. They can help you negotiate with your demands for the unit. They can also provide you some information about the project. You can also ask for sample computation sheet. In here, you can see the total contract price if the unit you choose, how much should you give for reservation. It will also show the monthly down payment or the monthly amortization. You can now check if your cash flow will be sufficient to pay the mortgage. Ask also for the condo dues so you may compute for the amount of move in fees. Some developers have hidden charges. These are the charges that are not included in the total contract price but will be charged on you before moving in. So be sure that all charges are discussed.
Get Financial Evaluation.
By doing this, you may check on how much loan you can be approved. Banks offer different rates for the home loan. Also, there are a lot of requirements to be fulfilled to be approved. Some condominium projects are allowing to get PAG-IBIG financing. A good credit score will make the process easier.
Don’t be overwhelm with variations.
As mentioned earlier, there are lots of condo offerings now in the market. There are high-rise, mid-rise or low-rise. Each project comes with different amenities and facilities. Deliverable are also different from one another. There are prime and affordable projects. Get to choose the right project.
Do Site visit first.
It is a must that you see the actual project with your own eyes. Go at the site or schedule tripping to check the condo offering. Feel the ambiance of the project. Check on how strategic the location is. Observe how the staffs and guards interact with the tenants. Take into consideration the status of common areas such as the lobby, the elevator, hallways and the amenity area.
So, before buying your dream condominium, take note of all these hunting hacks. Choose and invest wisely. Crown Asia Sales Specialist Inc. might help you in getting your dream home. CASSI can help you in finding your perfect investment in Vista Residences Inc. Projects like Vista Shaw in Mandaluyong, The Currency in Ortigas, or even Suarez Residences in Cebu. Let them know your preferred location and they will give you a great offer.