Ready to purchase your first home? 

For a lot of first-time buyers, a condominium is an attractive option. It provides all the perks of owning a home in the city without the hefty price tag or the stress of maintaining a standalone house on your own. Additionally, most condo buildings are found within or near bustling metro centers, making it the perfect choice for young and modern urbanites who want to stay connected to the pulse of the city. 

If you’re looking to learn how to buy a condo in the Philippines, here are five practical real estate tips that can guide you in the process.

Figure out your Priorities

Before anything else, list down everything you want and need from a living space. Are you fine with a tiny studio space or do you need more than a room or two? A single millennial will have different requirements from a family of four. Maybe you want to enjoy amenities like a swimming pool, a gym, or a playground for the kids. Maybe you’re looking for a secure place to live in.
Harbour Park Residences Is one of the few who offer smart home spaces, designed to keep residents at ease everyday.

Additionally, living in a condominium means that you’ll be sharing a building with other people. Each condo property has its own rules established by the homeowner’s association and board. Pets aren’t always allowed. Some condominiums restrict potential renovations, while others have rules in place regarding noise control. 

Find the Right Location

Location, location, location. Figuring out where you want to live is a major decision when purchasing a home. After all, one of the greatest draws of condo living is its promise of an easy lifestyle in close proximity to work and play. An ideal location for a condo unit should be near your place of work as well as commercial centers, schools, hospitals, banks, and other essential services. Harbour Park Residences for one is easily located in between Mandaluyong and Makati, perfect for those who want to be closer to work and close to essential living too.

With a good location, homeowners can make the most of urban living—and save a ton of time on traffic. Plus, a unit in a premium location will have a better resale value. In the Philippines, a few of the established and up-and-coming cities for condo living include Mandaluyong, Pasig, Makati, Taguig, and Manila, among others. 

Prepare for the Full Costs of Buying and Owning a Condominium

Buying a condominium may be thrilling, but there’s no doubt it can make a dent in your bank account. It’s best to find out your financing options and prepare for all the costs coming your way. Keep in mind that it’s not just the property costs that you need to consider. Buying a condo also involves property taxes, mortgage fees, maintenance and association fees, insurance, inspection and appraisal fees, and lawyer fees. 

Get Help from a Pro

While it’s necessary to learn about the ins and outs of the real estate sector and condo living, it’s just as important to seek help from a professional, especially if it’s the first time you’re buying a property. A real estate agent will be able to provide real-world know-how and experience to make the process considerably easier for you and ensure you’re getting your money’s worth. 

Find an agent with adequate experience in the business as well as knowledge and a wide network in areas you are interested in. Ask for referrals from family and friends for one that you can trust.  

Do Your Research

Finally, it’s important to keep researching as you go through the process of buying a condominium. Try to be familiar with the property developers you’re eyeing, from past and current projects to client testimonials. It’s also worth asking around for the opinions of family, friends, and colleagues who may be more familiar with their work. Nowadays, research is quick and easy online, so don’t skip on this step!

One of the developments to keep an eye out on is Harbour Park Residences, a two-tower high-rise residential condominium project that features fun, upscale recreational amenities as well as a convenient location along J.P. Rizal Street in Mandaluyong City. With the city center only a stone’s throw away, Harbour Park Residences is the ideal place for easy urban living.