What You Should Know Before Buying a Condo in Quezon City

a condominiumMore people have become interested in buying a unit from a pre-selling condominium property for sale in Quezon City or Makati, due to the lower price and more options for selection.

For instance, property developers pre-sold 52,600 units in Metro Manila during the previous year, according to Colliers International Philippines. The amount represented a record high, despite higher prices and lower yields.

Due Diligence

Whether you’re planning to buy from pre-selling development, it’s important to know that price shouldn’t be your sole reason for buying a property. It’s true that some real estate companies may offer discounted prices for up to 50% off, which unsurprisingly attract many house hunters.

Take note that some companies may require a large upfront payment for you to avail the lower price. Pre-selling units also take years before you could move in, so be sure that you still have a roof over your heads at least until the developer hands you the key to the unit.

Choose a developer with a good track record for project deliveries, which are usually bigger companies with an established reputation in the industry.

Value for Money

If money isn’t a problem, consider finding a pre-selling property in a strategic location, such as within a central business district. Most people plan to buy units that are near their place of work, so the money you save from paying for gas or public transport would somehow offset the bigger price over time.

However, some people ultimately choose to live in the city where they work to avoid heavy traffic coming to and from their office. It makes sense that living comfortably would more than make up for the extra cost of buying units in the CBD.

When choosing a residential development in Metro Manila, a pre-selling property serves as the best option for those who could wait before moving in. As an investment, you could sell it at a higher price or have it rented out for a profit.