Katong nag puyo ug Condo, need help regarding sa mga Expenses

[jinkazama92]

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Mga peeps, pa tabang ko.

I am planning to make a purchase a Condo based on Lapu Lapu, but just to be more cautious, I managed to digg some hidden charges that is not included in their flyers and advertisements. I hope kani nga thread maka tabang pud sa uban.

Mao ni ang ako na break down sa expenses:

1. Reservation Fee
2. Equity/Downpayment
3. Monthly Amortization
4. Transfer/Move in charges
5. Condo dues
6. Parking rental
7. Water bills
8. Electric bills


One time payments:
1. Water Installation
2. Electric Installation


I need to know how much is your average water and electric bills, ug pila pud ning Water ug Electric Installation guys?

[Alexander L. Gelacio Jr.]

I don't own a condo but I'm into real estate. No there are no hidden charges, your agent just did not educate you well enough for you to understand.

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Mga peeps, pa tabang ko.

I am planning to make a purchase a Condo based on Lapu Lapu, but just to be more cautious, I managed to digg some hidden charges that is not included in their flyers and advertisements. I hope kani nga thread maka tabang pud sa uban.

Mao ni ang ako na break down sa expenses:

1. Reservation Fee
(Will be deducted to the total selling price)
2. Equity/Down payment
(30% of Total Selling Price can be pain in full or if unit is at preselling stage can be divided to the number of months before turn over i.e. 36months, 24 months 12 months.
3. Monthly Amortization
(Amount remainder of the Total Selling Price which can be loaned to a financial institution i.e. Bank, PAG-IBIG or in-house financing)
4. Transfer/Move in charges
(Document Processing paid to the Government)
5. Condo dues
(Monthly upkeep for maintenance, garbage disposal, security, facilities)
6. Parking rental
(Parking Lots are sold separately, if you don't buy one, you're lucky you could rent one)

- Did you expect to get these for free?
7. Water bills
8. Electric bills

- And these are for the Utilities companies
One time payments:
1. Water Installation
2. Electric Installation


I need to know how much is your average water and electric bills, ug pila pud ning Water ug Electric Installation guys?

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I hope that clears it up, .

[AggreXor]

If you are getting a loan from the bank, expect to pay more. I paid almost 90k to get my bank loan processed at unionbank.

EDIT: Added mine so that it might be of help.

The condo I bought has a list price of 2.9m, so I thought it was okay. But the TCP(Total Contract Price) was 3.23m mao medjo na shock ko gamay but still proceeded with the transaction.

The said amount includes gov't taxes and processing fees ata to. So kung wala pa ka nakakuha ug unit, please ask for the TCP and not the listed price para d sad ka makulbaan. Note that the higher your floor is, the more expensive your unit will be.

My condo has a 10% equity, so around 323k payed in a span of 2 years less 20k which is for the reservation fee.

Paghapit na turnover, you will process the loan for the remaining amount sa condo. Mine was 90% and bawal sila PAGIBIG, so please ask your developer if pwede sila pagibig or dli, pagibig is way cheaper man gud.

Usual options are: Inhouse financing(Super overpriced), bank loan(overpriced) and pagibig loan(madala ra ang price).

For bank loans which is the one I have, you will pay for a processing fee, I paid almost 90k on mine. This includes Fire insurance and what not.

Pag turnover na, you need to pay turnover fees, I paid 50k for mine.

Pag naturnover na, you'll pay for the appliances kung bare imo unit, so I spent almost 75k on mine.

Aside sa monthly sa bangko or whatever institution youll be paying, naa monthly dues ang condo to maintain common areas. Ask for the price per sqm sa katong mo maintain sa inyo condo.

And then real estate tax every year pa diay.

[cebu.opportunities]

please clarify bahin sa water and electric line installation kay murag apil nana siya.
better ma check sad if cable ready and landline ready napud pra in case magpataod, dali ra installation.

your monthly condo dues will depend on your unit's floor area and if unsa ang property type. ny uban na belong sa commercial area which is mas mahal ang rate.

bahin sa financing for the remaining balance after equity payment, ny uban banks nga competitive rapud og interest rate.
if you opt for bank financing, ask nlng daan if unsa affiliated banks pra mas dali.

monthly water and electric bill will depend on your usage ranging from P1k to P8k. depende pud sa kaon sa kuryente sa imong appliances.

[OgieAko]

nindot sad ni da basin pa diay puhon makapuyo tag condo

[lloyd_joy]

Mao ni akoang na bayaran sa condo. Unit is at Bamboo Bay.

* Equity paid for 2 yrs.
* Loanable amount sa bank kay 1.4KK.
* Payed 115K php during the turn over.
* Nag loan ko's BPI. Then 70% ra sa loanable amount ang gi release. Naa pa'y bayranan in cash na 167K php.
* Interest is fixed for 3 yrs. Loaned amount is payable w/in 10 yrs

My unit is bare ni sya. Gasto napud para pa nindot sa sulod... Ka gasto... Hehehehehe...

Wala ko mo palit ug parking space kay pwerteng mahala. More than 600k php for a single car. Nag palit lang ko'g another residential lot in one of the subdivision na 200 sqm lot size sa amount na akoa unta'ng ipalit sa parking space aa Bamboo Bay...