Thinking of buying a condo unit? Here are a few tips for beginners

Buying a condominium unit may be the most convenient and easiest way to start building your own home. It is also one of the most stable forms of investment as the value of real estate property has continued to increase in the past few years.

In fact, according to data from the Bangko Sentral ng Pilipinas, Metro Manila condominiums saw a 35.5 percent price increase from 2016 to 2021.

However, like all investments, buying a condominium unit also carries its own risks, especially if the buyer hasn’t done much research. To save you a bit of time, here are a few tips you can follow when buying a condominium unit.

1. Location is key  

Infrastructure and transportation systems are always big factors that help the value of the property increase by twofold, as compared to those that are farther from these developments. Not only that, but they also make it more convenient to travel around the traffic-laden metro. If you are not going to live in the condominium unit yourself, then think of it as a good investment. One, it would be easier to look for renters since most of them are searching for places that are near the central landmarks and train terminals. Two, it would be easier to look for buyers.  

DMCI Homes’ The Oriana, along Aurora Boulevard, is a good example. It is a preselling condo in Quezon City, which was the country’s richest local government unit in 2021 according to the Department of Finance (DOF)’s Bureau of Local Government Finance (DOF-BLGF). From 2020 to 2021 alone, the city’s chief executive said that Quezon City was able to collect as much as P22 billion in taxes, which they will use to augment healthcare, social services, and major infrastructure. Further, the Metro Manila Subway Project is in the works. Part of it is an underground segment that will link the Anonas Station of the Light Rail Transit’s (LRT) Line 2 to the Metro Manila Subway Project’s Camp Aguinaldo Station, a major landmark in Quezon City.

If you’re targeting families, students, or teachers, look for a place near schools (The Oriana is a short ride from The Ateneo and UP Diliman), LRT and MRT train stations and major roads for easy commute, hospitals, government agencies, and grocery stores.

 2. Always check out the amenities.

While many companies have gone back to their offices, most of them are still in a hybrid work format. This means that employees still spend a lot of time at their homes, which prompts them to look for a place that is comfortable, spacious, and one that is less suffocating to work long hours in.

The Oriana, for instance, has a coworking space and community Internet connection, allowing for a seamless integration of work life and lifestyle. And like most DMCI Homes properties, this condo for sale in Quezon City has a lap pool, leisure pool, kiddie pool, children’s play area, picnic area, covered basketball court, urban deck garden, sky promenade, reception lobby, lounge area, entertainment room, game area, fitness gym, sky lounge, sky patio, garden atrium, convenient store, laundry station, and a water refilling station, back-up power, and community mobile app, to name a few.

Additionally, this transit-oriented development will offer a carpool service known as RideShare, giving commuters another convenient transportation option to go around the metro.

3. Don’t wait too long.

The longer it takes for the project to be completed, the bigger the possibilities are for setbacks. And this will all depend on the developer. For you to know that a project will be completed on its planned launch—or even before—the developer must have years of experience and a good track record. 

The construction of The Oriana is in full swing. As of June 2023, The North Tower is 44% complete (structural) and 18% complete overall. The South Tower is 21.5% complete (structural) and 8.8% complete overall. Investors can rest assured that the project will be turned over starting the year 2026.

4. Lastly, envision your life when you start living in your own condominium unit — your own home.

Will it be a community that fosters connections and nurtures your mind, body, and spirit? DMCI Homes properties, for instance, constantly develop their communities through different activities, like yoga, Zumba, community market, pet day, etc. Will it be easy to talk to someone if you have concerns? At DMCI Homes, the Property Management Office will listen to the needs of the community and address the issues and concerns as soon as possible. If you have fur babies, is the community open to having pets? Most DMCI Homes welcome toy dog breeds and cats, so you can bring the entire family with you. Plus, they give discounts and perks to people who pay their dues on time. 

Investing in a property, especially for first-timers, can be tricky. But with the right guide and the right developer, it can be the best decision of your life.   

The Oriana is one of the developments of DMCI Homes, the country’s first Quadruple A real estate developer known for building quality resort-inspired communities in Mega Manila, Baguio City, Boracay, and Davao City. Each of its properties is built with world-standard craftsmanship borne from D.M. Consunji Inc.’s over 60 years of expertise in the construction and development industry. 

To learn more about The Oriana and other DMCI Homes’ pre-selling and ready for occupancy projects, units for lease, and special promos, call (632) 5324-8888. You can also visit leasing.dmcihomes.com to know more about opportunities in leasing and rent-to-own programs of DMCI Homes. News and other updates are also posted on the company’s official website and social media accounts on Facebook, Twitter, Instagram, and YouTube.