Recently, my friend purchased a condo with Century Limitless Corp. Their project is Azure Urban Resort with the first of it's kind in Manila having a beach within the condominium complex.
Before plunging in to buy the condo, my friend took a research on the factors that will help him in deciding whether to buy or not. Below are some of the considerations he made:
Location
The condo is located beside SM Bicutan. It is just a walking distance from the condo and it is very near the highway. It is not very far from the airport and just in case he wants to settle down for good in the Philippines and setup a business or work in Makati, the route going to Makati is less than 30 minutes away. The condo is situated on the upper portion of the building which is good for investment. As the condo unit go higher, the price is also increasing. The unit he got is facing the beach and that is another premium in the price of the unit.
Developer
The developer is Century Limitless Corp, who has already constructed high profile condominiums in the heart of Makati which includes the Gramercy Residences and Knightsbridge Residences. Overall, it has constructed more than 60 buildings and are still counting. Century Properties recently is acquiring stake in East Asia Power, a publicly listed company. Maybe Century Properties is trying to enter the backdoor of stock market through East Asia.
Residential Purpose only
In the Master Deed of the condo project, it will specify whether the condo will be used for Commercial and residential purposes. If the condominium will be used for commercial purposes also, the privacy of the occupants may be disturb. So you need to check that the units are not being used commercially.
Floor Plan
When the developer said it's a square meter condo, it means the 40 square meter includes the outer part of the unit. Also, my friend checked the units in every floor to see if the floor will be crowded or not. The storeys were taken into consideration because he needs to see how many people will come and go in the elevator.
Amenities
The amenities must include a large space for relaxation and in this case, it has 1 hectare dedicated to beach alone. It also has playgrounds, gym, spa and basketball courts, etc. His kids has ample space to roam around and play.
Price
My friend normally looks at the price first before checking anything in the brochure. He is very concerned about the price that he ended up thinking whether it is a good buy or not. He consider the premium on the beach, the location of the unit, the bedroom type and the comparative prices of similar type in nearby areas. He found out that the premium mostly went because of the beach.
Other charges
Aside from the unit price, my friend was told to pay taxes, Transfer fees, documentary stamp tax, closing costs, etc. He was made aware of the other costs he is going to pay upon turnover of the unit.
Lease Opportunity
Since most of the time he is in abroad, he took a soft research on condo being leased out to others. He found out that most of the lessors are OFW, foreigners, upper middle income earners. The company also has property management that will help out in leasing the unit. This lease will help in offsetting the payments incurred in buying the condo.
Before plunging in to buy the condo, my friend took a research on the factors that will help him in deciding whether to buy or not. Below are some of the considerations he made:
Location
The condo is located beside SM Bicutan. It is just a walking distance from the condo and it is very near the highway. It is not very far from the airport and just in case he wants to settle down for good in the Philippines and setup a business or work in Makati, the route going to Makati is less than 30 minutes away. The condo is situated on the upper portion of the building which is good for investment. As the condo unit go higher, the price is also increasing. The unit he got is facing the beach and that is another premium in the price of the unit. Developer
The developer is Century Limitless Corp, who has already constructed high profile condominiums in the heart of Makati which includes the Gramercy Residences and Knightsbridge Residences. Overall, it has constructed more than 60 buildings and are still counting. Century Properties recently is acquiring stake in East Asia Power, a publicly listed company. Maybe Century Properties is trying to enter the backdoor of stock market through East Asia.Residential Purpose only
In the Master Deed of the condo project, it will specify whether the condo will be used for Commercial and residential purposes. If the condominium will be used for commercial purposes also, the privacy of the occupants may be disturb. So you need to check that the units are not being used commercially.
Floor Plan
When the developer said it's a square meter condo, it means the 40 square meter includes the outer part of the unit. Also, my friend checked the units in every floor to see if the floor will be crowded or not. The storeys were taken into consideration because he needs to see how many people will come and go in the elevator.Amenities
The amenities must include a large space for relaxation and in this case, it has 1 hectare dedicated to beach alone. It also has playgrounds, gym, spa and basketball courts, etc. His kids has ample space to roam around and play.
Price
My friend normally looks at the price first before checking anything in the brochure. He is very concerned about the price that he ended up thinking whether it is a good buy or not. He consider the premium on the beach, the location of the unit, the bedroom type and the comparative prices of similar type in nearby areas. He found out that the premium mostly went because of the beach.
Other chargesAside from the unit price, my friend was told to pay taxes, Transfer fees, documentary stamp tax, closing costs, etc. He was made aware of the other costs he is going to pay upon turnover of the unit.
Lease Opportunity
Since most of the time he is in abroad, he took a soft research on condo being leased out to others. He found out that most of the lessors are OFW, foreigners, upper middle income earners. The company also has property management that will help out in leasing the unit. This lease will help in offsetting the payments incurred in buying the condo.
