CONDO BUYER’S GUIDE
Everything you need to know about the perfect condo for you!
The biggest purchase of your life so far–made easier!
While moving out of your parents’ home at the age of 18 is a rite of passage in many Western countries, the same can’t be said of the average Filipino, who, far too often, needs to be dragged kicking and screaming out from the roof he grew up under. Of course, nothing lasts forever, and one day, whether you like it or not, it’ll be your turn to make a giant leap into the world.
Thankfully, the traditional house-and-lot model is no longer the end-all, be-all of home ownership that it once was. Indeed, all over Mega Manila, you can see them, erections of glass and steel designed to entice those who would enter them. Condominiums are well on their way to become the young urban dweller’s future home—and they are everywhere. As more Filipinos choose to live vertical, we picked the brain of a few real estate brokers and property specialists to get an idea of the profiles of condo buyers.
Some of what we learned wasn’t all that surprising, as we found that the majority of condo dwellers purchase their units with an eye towards factors such as location and value for money. What did surprise us, however, was how drastically a condo’s value can change from the day it’s announced to the day it’s actually ready for occupancy.
Here’s FHM’S cheat sheet of what is the condo property market is like.