The appeal of living in a condominium is undeniable, with all the convenience, security and accessibility that comes with it. Since the first quarter of 2013, there has been a healthy demand for both low- and high-rise condo in Philippines for locals and foreigners alike.
With the wide array of choices of Philippine properties including condominiums, it is easy to get confused. Anyhow, here is an exhaustive condo buying checklist to guide you.
o Is the condominium near or far from your work?
o Is it near major establishments like banks, hospitals, schools and markets?
o How much travel time is required?
o What is the cost of living in the area?
o Is the condo in Philippines equipped with basic facilities like gym, courts, fitness areas, pools, etc.?
o Are the facilities well-maintained?
o How often occupants can use the facilities?
o How accessible are these facilities from your preferred or chosen unit?
o Is there a telephone line, Wi-Fi internet connection or Internet corner, information counter, etc.?
o How often can you use these amenities?
o Are the amenities free or a fee will be charged to the occupants of the condominium in Philippines?
o What is the total floor size of the unit? Is the size appropriate to the number of dwellers?
o Are there restrictions in the number of dwellers allowed per unit?
o Are the areas (living room, bedroom, dining room, bathroom, etc.) logically located?
o Are the units soundproofed?
o What are the house rules? What are the restrictions and punishments
o Who develops the condominium units?
o Does the developer have a proven track record in developing various Philippine properties?
o Does the developer specialize in developing condominiums, residential communities, subdivisions, etc.?
o Is there a building administrator who manages the day-to-day operation of the condo in Philippines?
o If you will complain, who should you talk to?
o Who will conduct regular and special assessments if necessary?
o Is there an elevator and stairs? Is there a contingent plan in case the elevator(s) won’t work?
o Are there fire exits in every floor? Is there a fire exit floor plan that occupants can easily follow in case of fire?
o How often the security personnel rove the area throughout the day?
o Are there functional CCTV cameras and where in particular?
o How much is the monthly association due? What are the modes of payment available?
o What are you paying for exactly? What is the coverage of the monthly due?
o What are the proofs of payment of the fees and dues given to the occupants?
o What will happen in case of non-payment of dues and assessment fees?
o Is there an internal or external cleaning service?
o Are the cleaning staffs available on call in case of a cleaning emergency especially on common areas?
o How many occupants are already there in the condo in the Philippines?
o Are the occupants happy and satisfied with the management?
Basically, the list assumes that you already know the documents to be prepared and the payments required before you invest in any Philippine properties. Nonetheless, it is always good to ask beyond what was written on the documents. After all, it is your responsibility to determine the conduciveness of living in the condo of your choice.