condo- worth investment nga ba?

[chocolatepink]

mga sis ano yung mga developers na tutulong sa unit owners na makahanap ng possible tenant if ever?
may department ba sila for this? thanks!

[melmedrano]

^^ yes sis, property management ang tawag nila sa ganun.

[chocolatepink]

^ salamat sis!

Questions lang mga sis, sorry of it sounds stupid sa dami ng nag-ooffer ngayon ano ba ang difference kapag sa broker or sa direct property specialist ka kumuha ng unit? Ano yung pros/cons?

Kasi minsan mag-check ako ng property 'di lang dmci or dedicated ayala property specialist ang dami nya affiliations.. Thanks in advance sa sasagot!

[TysLolakins]

Condos are really not for investment but for convenience.

yes i agree.  convenient kasi usually malapit sa lahat and hardly any maintenance kasi nga shared walls.  the biggest drawback for me is the non regulation of HOA fees.

[saskia]

i don't think its a good investment. i think better pa din for dwellings yung house and lot. at least wala expiration. pwede pa tumaas yung value over time. sa condos kase, diba may life span lang ang mga buildings? its just me. i may be wrong din naman sa analysis ko.. 

[ayanlanz]

condo units are in-demand here in the Metro. 

for me, its good investment. I bought a pre-selling unit near our area around last Jan 2011. I have two choices but I prefer the one near our house not because of its location (its accessible anytime) but its the price I can afford. Its worth P1.5M when I bought it but now according to developer agent, its worth around P2.2-P2.5M. 

I'm single and still living with my parents so i'm thinking of renting it out when the time due or sell it at market value.  and then look for another property investments.

if I'm in the province, I will prefer to buy land as investment too. 

~~~
when I was young, our mother always telling us to buy and invest on lands instead of cars/vehicles. According to her, market value of the land is increasing unlike cars.  and I believe her.

[Princess_Chill]

condo units are in-demand here in the Metro. 

for me, its good investment. I bought a pre-selling unit near our area around last Jan 2011. I have two choices but I prefer the one near our house not because of its location (its accessible anytime) but its the price I can afford. Its worth P1.5M when I bought it but now according to developer agent, its worth around P2.2-P2.5M. 

I'm single and still living with my parents so i'm thinking of renting it out when the time due or sell it at market value.  and then look for another property investments.

if I'm in the province, I will prefer to buy land as investment too. 

~~~
when I was young, our mother always telling us to buy and invest on lands instead of cars/vehicles. According to her, market value of the land is increasing unlike cars.  and I believe her.

i totally agree investing in a car worth 5M is not worth is coz after 5 yrs the value is shredded in half unlike investing in real estate your lot will appreciate more after that 5 year period.

may ipapamana ka pa sa anak or even apo mo pa!

[Juricks]

^ salamat sis!

Questions lang mga sis, sorry of it sounds stupid sa dami ng nag-ooffer ngayon ano ba ang difference kapag sa broker or sa direct property specialist ka kumuha ng unit? Ano yung pros/cons?

Kasi minsan mag-check ako ng property 'di lang dmci or dedicated ayala property specialist ang dami nya affiliations.. Thanks in advance sa sasagot!

same question here..

[LikeJobs]

I'm not a real estate or financial expert, but I am a condo owner (bought it pre-selling 3 years ago and will move in on Feb 2013). In my opinion, a condo is only worth buying for the purpose of living in it. Unless you're an experienced landlord, I wouldn't buy a condo if your goal is to make money off the rent. There are so many people out there renting condos at competitive prices (in the next-door condo building there are around 20 condos for rent), and you'll have a tough time finding a tenant unless you offer the unit for a low price - pero lugi ka naman kung ganun.

[monbla]

^I agree LikeJobs. I recently considered buying a condo at a very promising location, thinking of the rental income and the increase in property value.

In terms of rental income, I browsed sulit.com.ph and realized that rent rates are super low na since andami nang nag-ooffer na condo owners. I read somewhere din that if you are going to rent it out, you'll only be earning about 5% of your investment annually (property value + taxes + dues + utilities + insurance). I could earn more if I stick to mutual funds, mas hindi pa tali ang money ko... which brings me to...

Increase in property value. While it may be true, it might take a long time. I once thought that if I bought at pre-selling price, I can already sell at a good profit as soon as it's rfo. But scanning the listings, walang significant difference ang contract prices ng rfo at preselling. So it might take awhile... and I can't afford to have my money tied down that long.. siguro kung may spare lang talaga ako that I can forget about for 10-15 years, tsaka ko lang pag iisipan uli.

Nevertheless, ok pa rin to buy condos if you intend to live in it. Kasi you can't beat the location usually.

[angelspawn]

I think it's a good investment if you got it at pre-selling price. In our case, we got a unit at pre-selling price worth 1.5M. After turnover, we waited for 1 year and able to sell it at 3M.

[whitebishop]

buying at pre-selling is good and selling after the unit is completed returns your money with interest. so it's like double your money in x years. also buy if you have cash pero kung ilo loan mo... balewala

[abisoft]

I think it's a good investment if you got it at pre-selling price. In our case, we got a unit at pre-selling price worth 1.5M. After turnover, we waited for 1 year and able to sell it at 3M.

Hi! I'm happy about the outcome of your condo. Condo investing is about making an extra income(passive income) out of your invested money, usually on a property that you don't personally need. Without passive income, you're are probably an end-user and not an investor.

[scents01]

for me, it depends on the location. i bought a unit at Green Residences, condo beside DLSU. It is still pre-selling but sana i bought one earlier coz the value of a studio unit increased by 300k in a span of less than a year. i bought it for the following purposes:

1. good location coz it's really near the biggest schools in the metro
2. rental income after turnover, they have property management so they can look for possible tenants if i cant look for one
3. resell at higher value after turnover
4. keep it coz i want my son to study within the area someday

those are the main reasons. also, amenities are very very nice with Savemore supermarket pa on the ground floor. i stayed in the taft area for seven years and i need to go to the mall just to have a nice supermarket experience. convenient for me or for my future tenant. so i think, it's a good investment for me.

[cezycez]

Question for those who bought a condo. How much did you pay for closing fees/turnover fees (taxes, reg. fee, doc stamps, meralco etc) before the handover of your condo? I purchased condo and just received the turnover notice, now I'm worried how much do I have to pay upfront  Please share mga Sis purchase price nio and taxes and fees you paid. Thank you very much.

[scents01]

^sis, i think you are referring to other charges, it is usually 5.5% of the total list price. Well, that's for SMDC..

[quinone]

^ oo nasa ganun nga kasi 65K ata yung sa amin noon

[cezycez]

   5.5%? wow P 6.1 M yung condo so 330K upfront? Megaworld yung sakin. I asked the other thread naman about housing loan. Plan ko kase to pay the balance through their tie-up bank (BPI) and I don't know if I can ask the bank to include other charges (330K) sa total loan amount. Any ideas mga sis?   

[scents01]

^Hindi ka naadvise ng agent mo sis re other charges? Lahat ng condo developer may ganun, yung sa amin sa SMDC nga lang, kasama na rin sya sa monthly payment (principal + other charges) kapag no downpayment scheme. Hindi sya lump sum na babayaran.

I think you can also include the other charges sa total loan amount coz it will be the Total Contract Price itself. Verify mo na lang sa bank mo sis

[babyboo.0326]

i wonder if this is true about cambridge village in pasig/cainta?


Cambridge Village