Factors to Consider Before Owning a Condo

You won’t run out of options when hunting for a condo at Cubao or Q.C. The challenging part is choosing a unit that fits your budget, your lifestyle, and your preferences. Even if it is only for a temporary basis—maybe you just moved in because of work or study—you should go for a condominium that is worth your money. After all, it is a place where you could rest after a stressful day, not something you’re dreading to go to after hours.

Assess yourself first if a condo setting is ideal for you. As we all know, this type of real estate property doesn’t come with a cheap price tag. Are you already prepped for condo living? Read below to find out:

Vertical community
Condominiums are like a small community inside a tall building. You will have neighbors called tenants on each floor, across the halls; you could also be divided by only a thin wall from them. Less privacy, more noise. It is not a place for hermits because eventually you’ll have to interact with them, one way or the other. This is to establish a harmonious relationship and avoid any conflict with them.

Communal setting
The barbeque grill you’re planning to use for your get-together party might be occupied by somebody else as of this moment. The treadmills at the gym are jam-packed so you must wait for your turn. Condominiums have amenities that are shared by every unit owner and not just for your personal use. You’re held accountable as well when using it. Speaking of amenities…

Amenities
This is what every condominium brags about first. Aside from their stylish rooms, this is one of the features sales agents use as a bait to lure buyers in. Examples of amenities are infinity pool, high-end security system, outdoor garden, Jacuzzi, games room, gym, yoga room, bowling alley, daycare center, and sauna. The important question is: are you going to use all of these? And are you aware that you’re going to pay for it whether you use it or not (management/maintenance/administrative fees)?

Reserve fund
This is one of the inclusive fees in your monthly rent. It is an amount used to cover for the repair and maintenance of each unit and the whole building. Is there enough reserve funds at the time you moved in? You may gauge this by doing an ocular inspection inside and outside the building, including its amenities. Or you may ask the management personally in a most polite and professional way to know the current status of their reserve fund.

The Board of Directors
Unfortunately, politics also exist in a condo setting. Sometimes called the condo board, they are composed of unit owners who are responsible for the management and administration inside the condo community including its finances and rules. As a unit owner, you have a right to appoint by means of a vote. Be diligent enough to attend meetings so you will have a say with regards to the creation of rules or bylaws that will surely affect your stay at the condominium.

If you think you’re amenable to these, then buy or rent that condo in Cubao or Q.C. already!

For condos in Cubao or Quezon City, visit Jade Pacific.
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