Condominium Properties: Is It a Good or Bad Choice?

Recently, a lot of developers are flocking in Davao. Even before PRRD became president, Investors already knew the potential of Davao. It is a melting pot of diverse cultures and eco-tourism. Truly life is here where the goods are cheap; traffic is moderate compared to highly urbanized cities such as Metro Manila and Cebu, good weather all year round and low crime rates. Who doesn’t want to live here? Investors saw it as a potential to expand or even launch their projects. Davao also has the best schools making condominium living an ideal. The reason also is that most of the subdivision where house and lot are offered is located far from the metro making commuting inconvenient.

The key to condominium living is the accessibility and good location. Why would you exchange house and lot property to a condominium property if not for the location right? There has been a lot of choices recently, best location, extravagant furniture, hi-tech systems, best security, to wonderful views. So how would you choose if you’re likely to purchase one unit? It is important that you do a little research first of the developers that are flocking in and take a closer look at their projects from other places chances are they might be similar to what they are building in Davao and you have a better idea and perspective of what they are opening in here.

After you have done your developer research you can now try to select the ones that you like best on the design, size, amenities and location. It is important to prepare yourself before investing a large amount of money into a unit. After you’ve narrow down your selection you can visit their office and visit their model units. Most developers have this in their office then choose an agent, remember that in choosing your property specialist you have to follow your instinct. Pick the ones that really give you the relevant and honest answers to your questions than those property specialists that are only after a sale. Picking a property is a thorough process before you decide which one to choose. It’s like choosing the best dress to wear for meeting in-laws for the first time.

Check your finances before you purchase a unit. It is important to know if you can afford what you are buying. You can opt to lease out the property so it would be easy to pay every month. That would actually fall as a self-liquidating investment. So there, please take into consideration the key points stated here so there would be no regrets in the future.

A Review Of The Parvis Condominium In Holland Hill, Singapore

The Parvis condominium is located in the District 10 of the Holland Hill. With about 248 units and 12 storeys tall, you sure would be glad to wake in the morning looking at your window and seeing the best of the Holland Hill. The fact is, owning a condo is a whole lot easier than owning a house because you only have to decorate the interiors of your unit and then enjoy the common areas and amenities of the property.

If having shared walls won’t be a disadvantage to you, you will find yourself lucky as the exterior and common area repairs won’t be solely your responsibility. You can visit the Parvis Condo in 12 – 18 Holland Hill. The Developer is the Calne Pte Ltd. This freehold property is very safe and secure. You can just leave and go for a vacation or business trip anytime you want. The security features of the condo make it less desirable for strange people to thoughtfully mess them up.

The concept of a premium lifestyle has been exhibited by its interior and exterior designs, amenities, and utilities. Living comfortably on a tight budget is possible in the Parvis condo. To bring comfort in all that you do, you just need to live in a unit that already provides the kind of lifestyle you want. Also, the convenience stores and supermarkets are just a short walk away from the condo. This means never spending on gas in your life when there is a need to go to the grocery. The condo is located near:

  • Holland village
  • Commonwealth MRT station
  • Farrer road MRT station

Are you ready to view this place? The Parvis condo has an excellent layout in a fulfilling lifestyle. Remind your real estate agent to let you see the pool where you can sit and sip your drink and just relax for the evening. The facilities in Parvis Condo include:

  • Lap pool
  • Jacuzzi
  • Steam bath
  • Clubhouse
  • Gym
  • Multipurpose hall
  • BBQ pits playground
  • Fitness station
  • Tennis court

Just in case you want to know the area and the number of bedrooms, you can buy to as many as 4 bedrooms with a spacious 2,600 sq ft. The building comes with a 273 lots underground park.

• 2-Bedroom (51 units): 990 – 1,440 sq ft

• 3-Bedroom (100 units): 1,700 – 2,260 sq ft

• 4-Bedroom (76 units): 1990 – 2,600 sq ft

• Penthouse (21 units): 2,300 – 3,230 sq ft

What is so cool about this condo? The 4 bedroom unit comes with a private lift that opens into the foyer. The common lift is accessible through the kitchen back door.

Why buy a condo instead of a house and lot?

There is only one thing that comes into my mind – the amenities. The facilities and the amenities offered by condominiums are outstanding and you can only get this or maybe near to it if you are rich and earning a few thousand dollars in a month. You don’t have to worry about club memberships anymore as you would automatically become a member if you are an owner of a condo unit.

Shopping for Condos? Here’s 5 Things to Look for Before You Buy

Whether you’re looking to purchase your first home or simply want to leave the burden of owning a house behind you, condos can be a great way to own a low maintenance home. There are, however, a few trade-offs associated with owning a condominium, so before you take the leap, ask these five questions.

1. Is the Building Insured?

One of the most important things to find out is whether your condo’s insurance coverage is adequate. Insufficient coverage can cause serious financial burdens later on or may even make it impossible to get financing. Make sure the board has maintained adequate coverage on the building and verify the amount of coverage through your own insurance agent.

2. How Many Investors Are There?

If you plan to finance your purchase, your bank may find the building an unsafe investment due to the number of investors and deny your loan. If there are too many investors, this will make it more difficult to find banks willing to offer mortgages, which can have an effect on the resale value of your home, as well. As a good rule of thumb, make sure investors own less than 30 percent of the building.

3. Will This Fit Your Lifestyle?

Condos are a great way to own a home without having to personally deal with maintenance costs, as these are usually bundled into your monthly fees and taken care of by professionals. Remember that living in a condominium also means being part of a community, so make sure you’re comfortable with the amount of activity and noise you’ll be dealing with in your building.

4. What Are the Condo Fees?

While it may feel like you’re saving by purchasing a condo instead of a house, remember that the ongoing fees must be taken into account. Find out ahead of time how much you’ll be on the hook for each month, and factor additional fees into your budget before signing on the dotted line.

5. What Are the Reserves Like?

While it may be difficult to get this information from the board before you buy, many sellers will openly offer information about the property’s reserve funds. Seeing how much a building has in its reserve funds can help determine how well the board handles the finances of the building. The reserve is also used for unforeseen costs, like broken pipes or new roofs. If the reserve cannot cover these costs, you may have to pay part of the bill.

Owning condos instead of houses can be a smart purchase because they’re a great way to get the best of home ownership without the extra work. If you ask these five questions before your next purchase, you’ll be sure to find the perfect. Welcome home!

Buying a Condo – What You Should Know

A condo is a type of home ownership. The individual units of a larger complex are not rented, but are sold to the individual instead. They can be townhouses, commercial warehouses, or renovated apartments. Basically, any multi-unit structure can be turned into condominiums. Many people who want to live in a large city want to buy a condo instead of paying rent on an apartment. On the east coast in the major cities this type of dwelling is very popular. When looking for a condo it is almost like looking for a one-family type home. It is best that you start by contacting a real estate agent because they will usually know about more properties for sale than you can find on your own. Look for a real estate agent that specialize in condos for sale.

In addition there are also some other tips that you should take into consideration before purchasing the condo. One important thing that you should do before even contacting a real estate agent is to plan out your budget and your annual income. By doing these two things you can see just how much you can afford to pay each month for a condo. This will help keep you from getting in over-your-head and not being able to pay the monthly payments and losing the condo.

• Make sure that you scrutinize the neighborhood very carefully along with the developments where you are considering buying a condo. You also want to check the size of the property and check to see if it is maintained nicely.

• Ask the current residents how often maintenance and repairs are done.

• Find out how good the soundproofing is between the condos.

• You should also check to see how far you are from movie theaters, grocery stores, restaurants, and anything else you feel you need to be close to.

• Find out about the parking and if you have any guest parking spots and if you do find out how many.

• You should check to see what amenities you have, any storage, and security.

• Be sure before you sign any papers that you take the time to closely inspect the rules of the Home Owner’s Association (HOA), which govern the functioning of the condo development. In the papers you may see some restrictions that may not adhere to the lifestyle you lead. If you are a pet owner you need to check the rules about having pets in the condo development.

• Before you make the final decision inspect closely everything in the condo to make sure that everything is up to par. Have a family member or friend also look over the condo so they can give you a second opinion.

Why Buying A Condo Might Be Right For You

An option often overlooked by those desiring homeownership is purchasing a condominium or condo. But, the traditional detached single family home is not the ideal situation for everyone. For those just starting out, affordability may be an issue. An empty nester may want to downsize and not have the hassles of yard work and other maintenance. Or it can simply be that the traditional family home doesn’t suit your lifestyle.

When you own a condo, you own the title to the space within the walls of your living quarters. Common areas such as hallways, roofs, parking lots, green areas and pools are shared with the other owners in the complex. The more common type of condo is the apartment-style, in which you may have units on either side of you and above and/or below. However, there are other styles. There are units that are designed more like townhomes, with single or multiple levels and one or two common walls with neighbors. You may even find a condo in a building that was a multi-unit apartment converted to condo units.

Condos are attractive to many buyers because they offer them a chance to own their residence and build equity at what is usually a lower cost than a single-family detached home. Of course there are exceptions, such as the luxurious condominiums that many developers are building in downtown and affluent neighborhoods.

One factor to consider is that condominium owners generally must pay a condo association fee monthly. These fees defray the cost of maintenance, repairs and upgrades to the community’s common areas as well as the cost for the services of a property management company.

However, if you would rather spend your free time doing something besides mowing the lawn, painting the outside of your home, or waiting at home for the pool maintenance person, then a condo may be for you.

Other advantages of owning a condo are the amenities that may be part of your complex such as a pool, tennis courts, fitness center or clubhouse. These are some of the perks you might not be able to afford or even have room for if you were to purchase a single-family home.

Of course, as with all things, there are some disadvantages to owning a condominium, such as the lack of privacy that a single-family detached home affords. You are also confined to the rules and laws of the community association, which can run the gamut from how to display a satellite dish to the type of animals you can keep.

Is a condo the right living arrangement for you? Make an informed decision by weighing the pros and cons. Talk with a real estate professional who is familiar with condominiums and the laws that govern them. Preview the various condos in your area to get an idea of how the properties are run. If your real estate professional has sold condos in any of these complexes, find out the type of feedback he or she has received from clients.

Condo living isn’t for everyone, but can be an attractive option for those who want to own instead of rent.