Top Three Mistakes Condo Buyers Doing and Simple Tips to Avoid Them

Image Source: http://communities.dmcihomes.com/

I’m working around the metro and my home town is 32km away from the office. At first I am fine travelling at least 90 minutes to 120 minutes a day but after couple of months, I find it very tiring. With that I planned to rent a boarding house or an apartment. But due to safety issues I end up purchasing a Vistaland condominium unit for sale in the Philippines. The process takes long, I asked a lot of people and I learnt the pros and cons of condo living. And what I really want to share today are the mistakes that I saw many condo buyers are doing without even knowing it.


1. Automatically thinks that you are designed for Condo living

Basically there is nothing wrong in thinking that you are for condo living, but the thing here is that condo living can indeed be tailored to suit a variety of needs and it doesn’t work with everyone.

It is really important to asses if you are ready to live in a condominium. You can read this article to see if you are fit in condominium living. There are people who are just not cut out for a building living, why? Simply because they can’t deal with having so many neighbors around. If you are sure about getting a unit, make sure that you are getting one from a trusted developer who has entrusted you to the care of a property manager. Having the property manager makes the condo living so much easier because there is someone you can turn for anything you need.

2. Don’t know what kind of Condo they can afford

This is the most common mistakes condo buyers fail to look at. They don’t know what type of condominium unit suites them perfectly. They tend to be carried away by their emotions and adrenalin when they like a particular condo unit and forgot that they are not capable financially to pay for it. Even, they couldn’t afford the down payment that will lead them to borrow money which is not a good idea. Why? The tendency when you borrow money is that buying a unit incurs you already have a debt. That is, in addition to the mortgage loan that you are about to obtain. Debts will pile up easily and you have to pay them on a regular basis making your salaries directly fall into your debt and not in your pockets.

3. Having No clue about the rules and regularization

I noticed a lot of new owners don’t have the right understanding regarding the community’s rules and regulations. Developments vary in rules differently. Take note that Ignorance does not excuse condo buyer mistakes. At first you are given a copy of your development’s house rules and regulations when the unit was turned over to you so what you need to do first? Neither the sightseeing, nor calling your friends and have a party, but rather you must sit up and read the rules and regulations. Don’t just leaf it through it. Read it carefully. It can save your future my friend.

How to avoid these? Here are simple solutions you can do.

1. Talk to other condo owners.

• You can ask them about their opinions to the rules and regulations of the community
• You can also ask them how they are informed regarding building issues, meetings etch
• You can ask them about the quality of the maintenance
• You can ask how approachable is the management

2. Meet with a member of the condominium board

• You can ask about the maintenance and usage of the common areas 
• Check the rules for governing rentals in the community
• Ask about the condominium association dues, what they cover and what kinds of increases there have been 

Applying these tips and avoiding these mistakes will help you peacefully and happily purchase for your condo unit. Like this post? You can share this to your friends too!

TAGS: condos for sale Philippines, condominium for sale Philippines