Cebu is a prime location in the Philippines were foreigners and locals alike love making real estate investments. The government there and the local authorities have enacted laws that ensure people’s investments are protected. Here are some tips for you to consider when seeking to buy a condominium in Cebu:
Consider the location- Get a location that will work well for you and your family; it should not be far from your place of work or where your kids school. Then again you should consider the ease with which you will get to shopping malls, religious areas and other recreational facilities that you and your family might want to use. Establish the areas you and family would rather avoid being close to; whether be it market places, cemeteries or squatter areas, so you don’t end up regretting after making the purchase at which point you can’t rescind your decision.
Establish the right level for you and your family- You need to come to a consensus as a family on the exact level on which you would prefer your unit to be located at. This is very important as many people often have height phobia and as such it would be torturous to force them to live very high on a building, so probably going for a condominium midrise would be perfect in such a situation so as to satisfy the needs of those who might love to get some view of the city and the horizon beyond. But always remember to find out whether there are buildings and structures that negatively affect your comfort, if you decide to go for a condominium on lower level, low level units often have problems with external noise, proximity to rusted rooftops and security issues. And you decide to go for a condominium on a high level, always check whether you can get a clear view of the city, sea or mountain.
Find out the density of the condo project- Before buying a condo unit, it’s very important that you find out the number of occupants/units per floor. Often people don’t like places where people are crowded and one has to wait for long before taking the elevator. In Cebu, one can find a low density project where each floor has a low convenient number of units for instance 6 units per floor, but there are others that are high density with twenty or more units per floor. It is always important to bear in mind that a condo project may appear so classy and majestic, but when you start living in it you get disgusted by the crowd of people on your floor and by how long you have to wait to take the elevator.
Find out the additional costs- There are usually the following added costs:
*Value Added Tax- You need to confirm whether the quoted value is tax-inclusive, often VAT is charged at 12%
*Registration fees, transfer taxes, documentary stamps, which most developer often require that buyers settle 30 days after reservation.
Consider the location- Get a location that will work well for you and your family; it should not be far from your place of work or where your kids school. Then again you should consider the ease with which you will get to shopping malls, religious areas and other recreational facilities that you and your family might want to use. Establish the areas you and family would rather avoid being close to; whether be it market places, cemeteries or squatter areas, so you don’t end up regretting after making the purchase at which point you can’t rescind your decision.
Establish the right level for you and your family- You need to come to a consensus as a family on the exact level on which you would prefer your unit to be located at. This is very important as many people often have height phobia and as such it would be torturous to force them to live very high on a building, so probably going for a condominium midrise would be perfect in such a situation so as to satisfy the needs of those who might love to get some view of the city and the horizon beyond. But always remember to find out whether there are buildings and structures that negatively affect your comfort, if you decide to go for a condominium on lower level, low level units often have problems with external noise, proximity to rusted rooftops and security issues. And you decide to go for a condominium on a high level, always check whether you can get a clear view of the city, sea or mountain.
Find out the density of the condo project- Before buying a condo unit, it’s very important that you find out the number of occupants/units per floor. Often people don’t like places where people are crowded and one has to wait for long before taking the elevator. In Cebu, one can find a low density project where each floor has a low convenient number of units for instance 6 units per floor, but there are others that are high density with twenty or more units per floor. It is always important to bear in mind that a condo project may appear so classy and majestic, but when you start living in it you get disgusted by the crowd of people on your floor and by how long you have to wait to take the elevator.
Find out the additional costs- There are usually the following added costs:
*Value Added Tax- You need to confirm whether the quoted value is tax-inclusive, often VAT is charged at 12%
*Registration fees, transfer taxes, documentary stamps, which most developer often require that buyers settle 30 days after reservation.
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