New Condos for Sale

New Condos for Sale

New condos for sale are flourishing all around busy Metro Manila. If you are looking into investing into a condo unit in the Philippines chances are that you will stumble upon old and new condo units being offered for sale. You need to be very careful into this since there are differences between them which will indirectly determine if you are to gain or lose in your condo investment in the future.

New condos for sale offers improved or better features than their older counterparts. However, there are issues that you should check and compare against old condos.

The area that I would like to put emphasis on is the “maintenance expense” that will be incurred into your account monthly by the condominium association.

For old condominium units: While older units do not exactly mean higher monthly maintenance expense, you should check upon the overall condition of the old condo before making a decision.

You will need to check on the condition of the common areas. A non-functioning elevator for example would most probably lead to repair expense for the condominium association. This in turn could lead to higher association dues which you will need to pay on a monthly basis.

For new condominium units: New condos for sale really do not give you an assurance of a gain on your investment in the future. One thing I can very well recommend in looking into new condos for sale is….. Check on the developer of the condominium.

Do your research on the background of the developer. Check on previous projects. Check if they have live up to what they have committed based on the portfolio of the project. You may visit a previous project and probably chat with owners/residents if they encounter problems with their condo units.

A problem on the previous project is an indicator of potential higher maintenance cost in the future which will in turn affect the outcome of your investment.

From this, you may very well come to a sound decision whether your investment will be a gain or not. Have a look again into new condos for sale.