If you’re on the lookout for an affordable condo in Manila, here are the 3 major things to consider to get the most value for your money.
When buying a condo, location should be your top priority. It’s best if your condo is located within the main thoroughfare and is easily accessible. Moreover, it should be near malls, drugstores and supermarkets so you wouldn’t have to go far to fulfill your basic necessities.
Knock on the wall and see if the division of your unit is cement or wood. If it is wood, check for the thickness of the wood. Usually, the louder the noise the wood produces, the thinner it is. So watch out. Also, make sure to look through the cabinets of the unit. It is the most basic composition of the condo, so if the developer fails to deliver good quality cabinets, it is more likely that the condo’s quality as a whole is so-so.
If you’re investing in a condo for rental yields, choose condo near schools since there is a constant demand for space among students. Condormitels— a coined term for condominium, dormitory and hotel in one—have been popular for offering affordable yet quality living among students. The way this works is kind of unique. Every condormitel unit is fully-furnished complete with beds, appliances and cabinets. It can have 4 occupants per unit, each paying separately. Since it is targeting students in Manila, the way it is constructed is very reasonable. As for the investors, your income can grow faster with 4 tenants paying you monthly per unit.
If you’re one of the many people who would like to invest and earn income from a condormitel, you should definitely check it out here: http://www.major.com.ph/properties/space-condormitel-manila/
There are just so many things to take into account before buying that affordable condo you’d just seen around Manila. But make sure that you have assessed your needs and see that whatever the condo is offering fits yours.