10 Commandments of Buying A One-Bedroom Condo

Real Estate.

Everyone has that vision of a house they want for themselves. It is not uncommon to hear someone quip, “Oh, I want my bedroom to look exactly like that!” upon seeing a particular design in a glossy magazine. Some want the usual townhouse in a subdivision, while others dream of a more romantic one, much like a humble home with an expansive porch or a cottage in the middle of a pond.

However, there is no denying that contemporary times call for contemporary developments. Did anybody say “condo?” That’s right, there is no stopping the rise of condo communities in the Philippines. Condo living appeals to the modern Filipino, who desires comfort and convenience.

With so many condo developments out there, it is easy to lose sight of what you want or what you need. For solo dwellers or young couples hoping to start a family, a single bedroom condo is the perfect fit; it’s not too small and not too big. Price ranges are also pretty manageable.

But how do you know that you are making the right choice? Is it just all about the size and price? Certainly not. Here are 10 buying tips for single bedroom condo units:

 

Thou shall pick the perfect location

perfect location

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When it comes to buying a property, location is king regardless of size. There are condos in suburbs which are less costly, but what about your gas or commute expenses? You should pick a location that allows you to save gas and time during daily commutes. Location should have easy access to public transportation and should have everything you need in just a 15- or 20-minute drive. They may cost a little bit more, but don’t underestimate the benefits.

 

Thou shall consider the size

Consider the size

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Most one-bedroom condos in the Philippines are around 20 to 30 square meters, but if you’re lucky to have a DMCI community condo, expect a bigger unit. Condos have the reputation of feeling cramped, so better choose ones that are a little bigger than the standard size to prevent you from feeling like you’re suffering from claustrophobia. Also remember: the longer you stay in one place, the more you will accumulate belongings although being forced to purge your unused belongings isn’t really a bad thing. Do consider that before settling for a certain size.

 

Thou shall have a reputable developer

There are a lot of developments out there, so be sure to pick the right developer. This is a home you are buying and it could well be your biggest investment. Research the developer, their experience, and the integrity of the communities they build. Whether it’s a single-bedroom condo or a penthouse unit you are buying, you have to be sure you are in good hands.

 

Thou shall study the floor plan

Most condominiums in the Philippines adhere to an open floor plan. This means free-flowing space, without divisions for the various rooms in the unit, hence giving you free reign in bringing to life those condo design ideas, no matter the size of the unit. Be sure to study it carefully. Is everything where it should be? Assess the bathroom, kitchen, and the bedroom to truly get a feel of the space.

 

Thou shall have space for everything

space for everything

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What are you bringing in? Are you binge-watching almost every TV series and plan on putting up a massive entertainment center right in your living room? Better think that over. Do you also want an expansive kitchen with an island and a breakfast nook? Maybe you’ll need a bigger unit. How about a space for your shoe and bag collection? You have to assess the space whether it can accommodate everything you need or want.

 

Thou shalt think of your family

think of your family

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Single professionals and newly-married couples are the usual target market of one-bedroom condos. However, tFhis doesn’t mean single professionals are never getting married and couples are never going to have kids. If you fall in  these categories, think hard and look five years into the future. Are you going to remain single for a long time? How long are you going to wait before planning on having a baby?

 

Thou shall understand taxes and fees

Make sure you understand that buying a property means having  taxes to pay. For a single-bedroom condo, taxes could be lower since value is usually the basis. You also have to discuss homeowners’ fees and duties with property managers.

 

Thou shall evaluate lifestyle

Evaluate Lifestyle

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You will be presented with a wide range of choices. It is easy to gravitate towards a cheaper unit regardless of size or location. It is also easy to gravitate towards a costly one because of world-class amenities. Among the come-ons for condo living in the Philippines are the amenities: pool, fitness gym, sky lounge, pavilion, entertainment center, game room, etc.  Don’t let these amenities win you over, especially if you don’t need them. Never mind if your condo doesn’t have a lounge on the roof deck if you are never going up there or never mind if it doesn’t have a gym if you don’t intend to get fit.

 

Thou shall have the right motive

have the right motive

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Do not be a passive investor. What’s your plan? Are you going to live in the property or rent it out? Is this where you plan to grow your family? How do you plan to pay for it? A real estate asset is one you shouldn’t take lightly. If you do, you risk losing it.

 

Thou shalt think of value

Research on the going rate for condos in the city of your choice. When investing on something, you have to mind its resale value or at least how much  it is going to cost if you  lease it out. Get a real estate expert’s opinion on the value of the property to know if you are making a wise investment.

Before signing a contract or applying for a loan, make sure you fully understand these commandments. These reminders are necessary for anyone who wants to make a worthy investment. The most important thing is you know what you need and want at the moment and for the years to come.

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