For many years, common minds tell us that living in a condominium have always been a luxury. However, some people contest that residing in a condominium is already a form of  practicality. As a result, people are in two minds between permanently residing in a single family house or transferring in a condominium. Below are some of the advantage and disadvantage of condo living.

The greatest extravagance most people think is that condominiums are usually located at the heart of the city or at the center of a big business park. By that, accessibility to firms such as convenience stores, coffee shops, spa, parks, and many other establishments will be effortless.

Moreover, condominiums usually offer good security service on a 24/7 basis for both the property and the tenants.  It is imperative that a condominium should always have a security guard on the patrol day and night.

In addition, condominiums can be purchased and turned into an income generating property rather than dead investment.  You can have the place rented by other individuals without having to worry about maintenance, housekeeping and other common concerns that take place in a single house unit.

Furthermore, because of the no maintenance, you can leave and travel anywhere without having to worry about your home. Rest assured, it is secured, well taken care of, and surely maintained and well kept.

On the other hand, there are some downsides in owning a condominium.

By and large, homeowner has a compulsory maintenance pay and is usually paid monthly for the preservation of the common lobby, stairs, swimming pool, fitness gym and other amenities that condo owners use in common. Another sad thing about this is that not all amenities are always used by condo owners, yet they still have to pay for it.

Furthermore, the owner’s privacy has also been a major concern. Noise from other tenants can be overheard. Unlike living in a subdivision or a family home, there will always be a big difference with regard to privacy.

Another common concern is the parking lot. There may be reserved parking lot for the condo owner, yet parking lots for guests or visitors are very limited. In times of mini celebrations such as birthdays or just ordinary meetings, this parking lot concern will surely arise.

Lastly, living in a condominium forces you to follow their set of rules and regulations. Some people, especially those who were used to living in their single house unit will have to fiddle with these new adjustments. These are imposed for the sole reasons of harmony and comfortable living.

To conclude, after being aware of the pros and cons of condominium lifestyle, the final decision will still lie upon the person’s own predilection. The vast majority may have good feedbacks upon owning a condominium. Nevertheless, there is always a disparity between owning a single family house than a condominium unit. Some people may still say family houses are better. For that reason, it is imperative that one must first be aware of their differences. Weighing both sides would be the best option before starting an investment.

BJ Geronimo

Davao City indeed is not only a place for a luxurious vacation, but also an ideal place for investments. With regards to real estate, Davao City has a lot to offer. Whether you want a residential house, condominium unit, agricultural land, commercial properties or even beachfront properties, this place is the perfect place for you.

There are several reasons why many people invests in Davao City. First of all, the city has an outstanding economic status. Business firms across the region are flourishing. Hence, many foreigners and even locals are starting a business in Davao. Owning a property will surely be a great investment since the market value of properties in Davao is in a constant inclination. Moreover, the place is well known for its peace and order. This points out to the mayor being true to his words thus pursuing the duty to secure and organize the city. As a result, people across the country and even all over the world would love to live in such harmonious city. Thirdly, the city is situated in a strategic location, making it free from typhoon throughout the year. This would assure residents that there will only be a distribution of sunny and rainy weather throughout the year. Lastly, the cost of living in Davao city is cheaper compared to other place in the Philippines. Consequently, public transportation, food, public utilities, and other daily necessities are on the minimal cost.

Real estate in Davao City is not as complicated as in other places. If one has the capacity to buy, it is a good decision to start investing in a property now. Nonetheless, even having problem with financials, one can have many options. Some real estates in Davao offer discount bids. Some would even offer in-house financing at a very low interest rate. Furthermore, the local government, as any localities, loves to pamper investors for they could help the town prosper and develop. Therefore, they will pave the way for you just to make sure you won’t have a hard time in your investments.

For people buying properties for their own residency, purchasing a home in Davao is also good decision. One can even have mortgage loans from bank if having a problem for immediate payment. There are several banks in Davao that offers such loan. They would just ask for some important documents for proof that you have the ability to pay.  Furthermore, as mentioned above, in-house financing could also be an option. It is more convenient for some because you are not asked for collateral by the lender anymore. He just needs some identity proof and credit history.

Like any other places in the Philippines, Davao City indeed is already globally competitive. With its great natural resources, friendly locals, tourist spots, and business opportunities, people all over the globe are drawn to visit Davao City – known also as the Land of Promise.

By: BJ Geronimo

Finding a good property is not an easy task. There could be lots of things to consider before buying one. First of all is the budget. Without a financial plan, one could be overpriced by the developer if not aware of the market schemes. What’s more, hidden charges may be present.  Next is the market value or the selling value. There are several reasons why the developers could be selling the property. It could be because of the falling market value of the property. Indeed, there are still a lot of things that would make real estate complicated. However, if the investor could have the right advocate and someone could guide him throughout the process, decisions made will not be put to waste.

The conventional wisdom is that the agent will pave the way for the investor. This is somehow true.  He will do all the legal transactions like talk to the lawyer, insurance company and other solicitors. He will answer your entire questions with regard to real estate. Moreover, the agent will bid for the lowest price with the developer. He will also help find the best location, and of course, the best property. Best of all, there could also be some flaws or loopholes in a property, but if you have a well experienced agent, the developer can’t hide anything from you.

Knowing that real estate agents can be of great help, finding the credible ones will be the next thing to consider. There could be an avalanche of real estate agents that will come rushing towards you if they find out that you are looking for a property. They will have their best foot forward thereby trying to persuade you to hire them. Therefore, choosing will also be a crucial part. First, the investor must first do some light research toward the agent. This is imperative! He can see the credibility of such agent by knowing his real estate history, or how many have he sold. Through that, the investors may see the success rate of the agent or dealer. The investor must also know how long the agent have been in the real estate industry; the longer the better. Furthermore, you can ask the agent’s previous clients for feedbacks. The feedbacks may be very subjective but this could be an early way to spot swindlers or fake agents.

In the Philippines, real estate agents are scattered all over the country. Looking for one is not that difficult. In fact, they can be hired through the internet or through people’s referrals.

Whether the property will be purchased for the owner to live in it, or for a business or investment, it is always important to obtain the best property. It is true, of course, that there is no such thing as a perfect condominium or a residential house, yet with proper understanding, full awareness, and a good agent, one can have a harmonious living and/or a profitable property.

By: BJ Geronimo