Buying a Condo here in Cebu a good investment? Not for Business, but for the Family

[sweetiebabe76]

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agree ko ni gospel.

[sweetiebabe76]

dili pa ko nga ownergyud.wa pa ko ka 1 yr. sa akong downpayment.

[sweetiebabe76]

mahitabo na kung imong ibaligya imong unit.

[makie]

First, if you and your family are going to live on it, it's not technically an investment because di man ka mokita anang unit. In addition to that, there are recurring payments. Both can be said about owning a H/L as well. You can only earn if you lease it or sell it.

Anyway, consider the location. Most condos, or if not all, are located in the city which means it is accessible to most schools, hospitals, malls, churches, groceries, etc. H/Ls in the city are very expensive na or the right term would be, their values are very high. Calculate the cost of living in a condo or getting a H/L on a town nearby (Consolacion and Liloan sa north or Talisay sa south) and see which one is more practical.

IMO, it is more practical to lease a condo unit and live somewhere near the city (not in the city per se) because condo rates are high and can provide you a substantial income. But it won't hurt kung imong puy-an, after all, it is very convenient man pud.

[EzLoad]

nice ni ang condo if for example naa kay balay sa Talisay nya mopalit kag condo sa syudad. maau siya kay if naa nakay pamilya kasagaran diri baya ang office and schools.. so mo uli ra sa balay weekends

[istoryamember]

sakto si makie, its not an investment if kamo ang mopuyo and if kamo ang mopuyo, mas maayo house and lot. IMO

[cirext]

On my experience, I bought a condo before my wedding day for these reasons:
1. I don't want to stay in my parent's house or my in-laws once I got married. I want to be independent and be responsible in raising my family.

2. Because I need to be close to the city and the cheapest I can afford is a condo. It was near IT Park. 18sqm at 1.2M. If we do the math, its not cheap really but it's the most affordable there is. I have no other choice.

After 10 months of staying in my new condo, I decided to get out of it. For the ff reasons:
1. It's too expensive to maintain. Maintenance dues, fumigation, garbage collection, water & electricity cost far higher than MCWD & VECO. You need to have an aircon for 24hrs because ventilation is not good. Also you need to pay for the laundry because you can't hang your clothes. When cooking, you'll use electricity because you can't use LPG. Also you need a range hood so that the fire alarm system won't ring because you are cooking inside. Range hood will consume another electricity.

2. As my baby grows, the enclosed environment is not good on his personality development. The only view the child gets everyday is on 1 side of the room. The other 3 sides are all walls. Condos are just good as a sleeping quarter not as a place where you bond your family. Healthwise, using aircon to help ventilate the unit for 24hrs is not good for babies.

3. I feel that our condo developer is just too arrogant that they claim superiority and makes policies without the approval of the unit owners. We feel like we are tenants and not unit owners. Ug maskig moingon pa ang ubang developers nga dili sila inana, i seriously doubt it. I know Filinvest, i know Camella, i know Primary, i know Sta Lucia, i know Aboitiz...they will control their projects even when they should be out of it already.

[cirext]

So where am I now?

I'm here in an apartment. Renting when I have my own condo. Is it practical?
I would say YES for the ff reasons:
1. My child could now get out and mingle with kids in the community. He could feel the sunshine. The breeze of natural air. He could walk around on soil. I can now chase him and let him run in a 300sqm free space.
2. We could now plant. Put some ornamental shrubs and palm trees.
3. We can now hang our clothes. We don't need to pay the laundry every week.
4. We can now park our vehicles freely without renting the space at 3,500/mo per vehicle (that's the rate in my condo because I don't buy the parking space which cost 600T).
5. We can play badminton & basketball directly outside our front door.
6. We can now talk with our neighbors which you can't in condo because people are so busy and so private that they can't spend a time talking with strangers.
7. In our balcony, view may not be as high as the condo but the breeze is fresh & priceless.
8. No condo dues. Electricity cost went low though we have much more people here in the house because we can now cook thru LPG.

So for me, a condo is not good for a family. For singles yes. And maybe for couples without kids as well.
For business.... It could be.. if you know how to market the property..if you have the time & the money to spent for it.

[MK]

nice information and opinion cirext

[nodols3]

Tag pila man gyud ang price sa condo, ug pila pud ang price sa house and lot, assuming the same ug volume?