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Buying Condo -- still a good investment?

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firstandlast

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Reply #210 on: Feb 17, 2019, 03:31 AM
If the purpose is just for a residence, you need to consider some factors to be able to identify if it is a good investment.
Considering your input and other good factors, below are some advantages of having your own property as residence over renting:
1.   You don’t think about any monthly rentals.
2.   You can do whatever you want to do with your property.
3.   Later on, you can sell it at a higher value.
4.   You can rent it out at a higher value (ex. P100K) while you are renting a unit at a lower value (ex. P50K), if in case, you’re relocated to another workplace. We can’t predict our future.
5.   You have peace of mind and seldom get sick because you are less stressed and more relaxed.

Here are the disadvantages over renting a property:
1.   You have to pay for the yearly real property tax.
2.   You have to maintain your property.
3.   You have to pay the monthly dues, if it is inside a subdivision or condo.
4.   You cannot sell it nor rent it out quickly, if in case you want to be relocated.
5.   You have to pay some taxes if you sell it.

But here’s the challenge. If you don’t have any problem with the disadvantages, ie. You can afford them, you have peace of mind, seldom get sick, and you’re more relaxed, or they are not a big deal, then, that means, it’s a good investment.

Many buyers who are not aware about the disadvantages. That’s why, in the end, they suffer with the consequences.


jenofstructures

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Reply #211 on: Feb 18, 2019, 08:48 AM

^

Mahirap ba ang pag assume? Yan kasi ang binabalak ko if ever na umalis kami sa Cebu in the near future. Mejo matagal pa naman kasi kami sa Cebu. Mga five years or so


^

For someone like me who is at home 22x7, is buying a condo or house an investment? 

Sa tingin ko ok lang na house outside Metro Manila for you, yun nga lang kung work from home ka, consider mo rin kung maganda internet sa lugar na yun or kung meron bang available talaga. Kahit kasi yung fiber nagkakaroon pa rin ng interruption sa City. Onli in da pilipayns


firstandlast

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Reply #212 on: Feb 18, 2019, 04:38 PM
^
Mahirap ba ang pag assume? Yan kasi ang binabalak ko if ever na umalis kami sa Cebu in the near future. Mejo matagal pa naman kasi kami sa Cebu. Mga five years or so

What do you mean pag assume?
If you are planning to sell your property later at assume balance, there are a lot of factors para masabi kung lugi ka or hindi pag binenta mo siya later. Compute mo itong mga ito:
1. Taxes (CGT, VAT, etc., whichever is applicable) pag binenta mo. Though, pwedeng ma-refund yung CGT pag bumili ka uli ng property using the proceeds with 1 year yata.
2. Total accumulated interest sa bank, if bank financed.
3. Total renovation costs at kung bumili ka ng mga gamit.
4. Total dues na binayad mo.
5. Total accumulated Real Property Taxes (amilyar) paid.
6. Total selling price mo including the balance sa bank at the time na binenta mo. You need to assume when.

Now, check how much will it cost if you rent the same or similar property in the area where you bought your H&L.
Compute for the total accumulated expenses on:
1. Rent.
2. Furnitures, if applicable.
3. Others.

If the overall total of 1-3 above is less than the overall total of 1-6 above if you buy the H&L, then renting is better.

By the way, investing in a property is preferable if long term, not for just 5 years of residence.





IGX

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Reply #213 on: Feb 18, 2019, 09:27 PM
^

Mahirap ba ang pag assume? Yan kasi ang binabalak ko if ever na umalis kami sa Cebu in the near future. Mejo matagal pa naman kasi kami sa Cebu. Mga five years or so


Sa tingin ko ok lang na house outside Metro Manila for you, yun nga lang kung work from home ka, consider mo rin kung maganda internet sa lugar na yun or kung meron bang available talaga. Kahit kasi yung fiber nagkakaroon pa rin ng interruption sa City. Onli in da pilipayns

more of not working na ako and nothing to do with life, no friends too kaya iniisip ko mapapakinabangan ko ba ang bahay kung nagiisa lang ako doon araw araw at wala rin bibisita.   kasi kahit ngayon not once may bumisita sa akin at asa centro ako ng metro manila.


firstandlast

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Reply #214 on: Feb 19, 2019, 02:21 AM
Kung retired na po kayo at nag-iisa na lang po, my suggestion po ay mag rent na lang po kayo sa condo. Why condo?
More safe and convenient po. Mas less expenses din po.
Advantages po ng condo over townhouse or house & lot:
1. Mas relax or cool po in terms of atmosphere. Unlike, ang house po, mainit pag di naka-ON po ang air-con during humid at hot season. Unless, na lang po kung mapuno at mahangin yung lugar ng house.
2. Mas safe po kasi may mga security guards at CCTV.
3. Mas convenient po kasi malapit po sa mga malls and supermarket.
4. Mas makakatipid po kayo since hindi niyo kailangan ng malaking space since mag-isa lang kayo.
5. Magkakaroon po kayo ng mga friends sa condo. Your neighbors will become your friends po.
6. Yung matitipid niyo pong pera, pwede niyo pong gamitin sa iba like travel, etc. Once, in a while, travel kayo sa provinces.
7. May mga condos po na may mga magagandang amenities like gardens.
8. May swimming pool.
9. May mga lounges.
10. May gym.

Maganda po yung style ng mga DMCI na condos. May opening po yung labas ng unit. Hindi kulong yung hangin na parang sa mga hotel. Lumivent technology daw ang tawag doon. Rent lang po, don't buy. Hindi po ako agent ng DMCI pala. Honest suggestion lang po. Pero kung meron pong ibang condo na katulad ng design ng labas ng unit ang DMCI, pwede din po yun.

Mahirap din naman po na mag-isa sa house sa probinsiya. Hindi po safe. Kahit sa loob pa po ng subdivision.


nightwatch

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Reply #215 on: Feb 19, 2019, 01:39 PM
For the same amount of money, I will still prefer a house and lot.  Lot of subdivisions are having the same amenities of the condos like swimming pools, club house, basketball, tennis court, and beautiful gardens.  Roving security guards, CCTV on the house and streets.  Convenience in terms of being near to hospitals, malls, churches, is also there.  Difference is that, for say a 20k one bedroom 24 sq mtr condo, you can rent a 20k, 100++ sq m fully furnished house and lot.  Plus you don't need to pay the very expensive association dues.  For a 24 sqm condo, you'll already be paying almost 3k association dues.

Sa condo dikit dikit kayo, pag nagluto ung kapit unit mo ng tuyo amoy na sa buong floor.  Tapos pag labas mo, me mga etchas ng aso.
Ganyan po ung condo ko na DMCI :D


firstandlast

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Reply #216 on: Feb 19, 2019, 05:42 PM
^ Don't generalized po dahil lang po sa experience niyo.
Hindo po lahat ng DMCI condos ay pare-pareho. I-research niyo na lang po. Check also high-end condos of DMCI.


Yung rent po na 30K a month sa condo, ay 2BR at 55sqm. 2BR para in case you have a visitor. 
Kasama na dues sa rent na 30K.
Tsaka, kung mag-isa nga lang ikaw, di mo na kailangan ng buong bahay.
Daming lilinisin at maluluma lang pag walang gumagamit sa mga empty space, kung buong bahay.
It's not practical.


May kaibigan ako, madalas ako sa kanila at ni isa, wala akong naamoy na tuyo or nakita na poop ng dog.
Kasi nga mahigpit yung condo management nila. They impose penalty sa mga violators.
Tsaka po, yung hallway po ng DMCI condos, hindi kulog, at mahangin at presko po siya, especially sa higher floors.
Kaya hindi po niyo basta-basta maaamoy yung niluluto ng kapit-bahay niyo.
Kung maaamoy niyo naman po, close niyo lang po yung doors ng 2 bedrooms para po hindi pumasok sa loob.


Pero, nasa preference naman po ng buyer yan kung ano ang gusto niya.
If I don't care about the expenses, like what I already enumerated above, I will buy, even a mansion.
Kumbaga, kung saan ka masaya.
But as for me, I rather spend my extra money in travelling, aside from supporting the less fortunate ones.





firstandlast

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Reply #217 on: Feb 19, 2019, 05:59 PM
1st - 10th year: 30k/month * 12 months * 10 years = 3.6M
11th - 20th year (+10%): 30k * 1.1 * 12 months * 10 years = 3.96M
Total rent for 20 years = 7.56M



IGX

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Reply #218 on: Feb 20, 2019, 03:08 PM
1st - 10th year: 30k/month * 12 months * 10 years = 3.6M
11th - 20th year (+10%): 30k * 1.1 * 12 months * 10 years = 3.96M
Total rent for 20 years = 7.56M



Eto ang reason bakit napapaisip ako bumili ng house and lot, as 8 to 15M ko bahay ko na sya for 20 years, pag namatay ako un lang problema ko sayang ung property.  Walang pupuntahan.

Pero pag nagrent naman ako ung yumaman lang ay ung nagpaupa.

Nakatira ako now sa high end condo ng DMCI, I pay almost 9K monthly association dues.  Lagi may tae sa daan, sa elevator ihi ng aso, amoy aso ang elevator.  Madumi ang corridors, maingay dahil mga bata whole day ginagawang playground ang lugar.  Strict lang ang PMO sa mga small people and mga nagrerent, but pag ang owner ay malaking tao o alam nilang mayaman o sa gobyerno nagtratrabaho (madami ako kapitbahay na DOJ / General / Police) hindi nila kaya sitahin.



jenofstructures

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Reply #219 on: Feb 21, 2019, 02:08 PM
^^^^ Try mo kaya maghotel na lang kung ganyan din naman yung style of living mo?

Nakita ko lang kasi sa Jessica Soho dati na meron gumagawa nang ganyan sa mga hotels. Tapos may special arrangement sila


firstandlast

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Reply #220 on: Feb 21, 2019, 04:19 PM
Ang pagkakaalam ko po ay may mga policy ang mga bagong condos ng DMCI na hindi pwedeng sumakay ang mga pets sa the same na elevator ng mga tenants. They should use the service elevator. Not sure sa inyong condo. Maybe, hindi na nga mahigpit ang PMO sa lahat sa condo niyo at wala na ding nagrereklamo. Also, dapat naka-diaper pa nga dapat mga pets na dogs. Kaya mas maganda kung sa mga bagong DMCI condo kasi at least mahigpit ang policy. Pa-Tulfo niyo na lang po yung PMO ng DMCI condo niyo kung biased talaga sila. Or lipat na lang kayo sa ibang condo na bawal ang pets.



nightwatch

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Reply #221 on: Feb 21, 2019, 05:46 PM
^Once na inallow mo ung Pets, expect the poops.  D naman kayang bantayan lahat yan ng PMO.  Check how many cameras does DMCI condos have, covered ba lahat?  Even if cover nila, mag aksaya ba ng time yan para i review sino nag poop na aso? E yung pagkahol na maingay ng aso, ano gagawin? Worst, pag nakagat ng bata ung aso. Walang kasalanan ung aso but mahirap i disiplina ung mga nag aalaga. Maraming tigasin sa condo. So pag inallow ung ganyan, expect the worst.

« Last Edit: Feb 21, 2019, 06:16 PM by nightwatch »


firstandlast

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Reply #222 on: Feb 21, 2019, 08:23 PM
^ Kaya nga may diaper na ni-rerequire sa mga pets. Siguro, naman madaling makita kung may diaper or wala ang pet. Pero kung walang ganyang policy dyan sa condo mo, ibig sabihin, magka-iba ang policy ng mga condos.
Kung ayaw niyo talaga sa condo na may aso, marami namang condo which don't allow pets. Kaya nga I advise na wag basta-basta bibili ng property or condo. Try to rent muna para kung later ay nalipat ng workplace, or di mo gusto ang neighbors, madaling bitawan. But if you are willing to gamble, then buy it.

Buying a condo is either a good or bad investment.


IGX

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Reply #223 on: Feb 22, 2019, 08:17 AM
Ang pagkakaalam ko po ay may mga policy ang mga bagong condos ng DMCI na hindi pwedeng sumakay ang mga pets sa the same na elevator ng mga tenants. They should use the service elevator. Not sure sa inyong condo. Maybe, hindi na nga mahigpit ang PMO sa lahat sa condo niyo at wala na ding nagrereklamo. Also, dapat naka-diaper pa nga dapat mga pets na dogs. Kaya mas maganda kung sa mga bagong DMCI condo kasi at least mahigpit ang policy. Pa-Tulfo niyo na lang po yung PMO ng DMCI condo niyo kung biased talaga sila. Or lipat na lang kayo sa ibang condo na bawal ang pets.



In my case useless ang PMO sa condo, noong binebenta nila ito sabi nila High End DMCI condo since low rise sya etc etc.  Pero walang ganyang mga pinapatupad, madami nagrereklamo pero ang laging sagot ng mga taga PMO "sige po sir titignan po"


IGX

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Reply #224 on: Feb 22, 2019, 08:18 AM
^Once na inallow mo ung Pets, expect the poops.  D naman kayang bantayan lahat yan ng PMO.  Check how many cameras does DMCI condos have, covered ba lahat?  Even if cover nila, mag aksaya ba ng time yan para i review sino nag poop na aso? E yung pagkahol na maingay ng aso, ano gagawin? Worst, pag nakagat ng bata ung aso. Walang kasalanan ung aso but mahirap i disiplina ung mga nag aalaga. Maraming tigasin sa condo. So pag inallow ung ganyan, expect the worst.



Agree here, dapat kasi may breeding din mga unit owners.  If gusto nila mag pet they should be mindful na hindi lahat gusto at mabaho ang pets so they should be courteous enough na hindi mag elevator.  Minsan sa corridors pa paiihiin o patataihin.  Hay.  Sinabihan mo na wala parin pake


 


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