5 Questions you should ask your agent before buying a condo

Real estate is a big commitment! And just like any other commitment, it requires a lot of
planning and taking care of. Here are 5 questions you should ask your agent before buying a
condo:

1. How sound are the finances?

Before anything, assess personally and with an agent your capability to purchase your preferred
condominium type or unit with your current cash flow and budget, and then determine the
perfect payment term for you as well. Be informed of any related costs in relation to your
financing (such as the bank terms) and ownership (association dues, extra charges). Will
investing in this condominium unit be financially sound at the moment?

2. How comprehensive are the services (and the rules)?

Condos have a lot of do’s and don’ts, so it’s best to know about it beforehand to determine if
you’re okay with it. Go over the community rules before signing any agreements.
Some questions you may have:
– Is the condominium pet-friendly?
– What time can I use the amenities?
– How is the waste management? When is trash collected?
– Are there strict visiting hours?
– How is proper sanitation implemented?
Know the services and amenities and determine if it will suffice your needs. Will the terms make
your life more happy and comfortable?

3. How experienced is the management?

Since you want the right product and the right service from the right source, make sure to look
into the reputation of the developer, including their project roster, public reviews, and real estate
awards.
If the condo is already RFO (Ready-for-occupancy), you may want to ask some current or
previous tenants regarding property management if you are able to. Ultimately, find out if the
community and the management are the perfect fit for you.

4. How resalable is the condo?

If you’re planning to purchase a condo for investment purposes, it’s important to know the
capacity of it to be resold. Research on or ask your agent about the status of the condominium
development such as:

– Is the location of my property booming?
– What are the future developments around the area?
– Are real estate prices in this area increasing?
– Will I earn more if I invest in the property today than tomorrow?
Look for assurance that the property is appreciating or has the potential to appreciate. Your ROI
or Return On Investment should be something you are comfortable with in the long run.

5. Why should I invest here instead of another project?

In the end, you want to make sure that you have the best of the best. That is why you should
also know the unique selling point of the project you are investing in, in order for you to know
that you have made the right investment decision. How is it different from any other
condominium development? Does it offer the lifestyle you want to live? Ultimately, you have to
ask yourself, is it worth it?

Looking for a condominium unit that is worth the investment? We are offering Tulip Gardens in
Southwoods City—your own garden community. Get in touch with a Megaworld agent today by
sending us a message!