{"id":4415,"date":"2015-05-12T13:48:30","date_gmt":"2015-05-12T05:48:30","guid":{"rendered":"http:\/\/leasing.dmcihomes.com\/?p=4415"},"modified":"2023-09-05T11:12:28","modified_gmt":"2023-09-05T03:12:28","slug":"ready-for-occupancy-condo","status":"publish","type":"post","link":"https:\/\/leasing.dmcihomes.com\/blog\/ready-for-occupancy-condo\/","title":{"rendered":"What to Look for in a Ready for Occupancy Condo"},"content":{"rendered":"

If you\u2019re looking for a place to stay in the area of your choice and you don\u2019t have the time or the patience to wait for a condo building to be finished, consider checking out the numerous ready for occupancy condo<\/a> units available in the city. These are units that are already ready for turnover and you can easily move in once you have signed the contract and made the necessary payments. Developers have capitalized on the high demand for convenient and affordable homes, which explains the seemingly non-stop construction of condo buildings all around the metro.<\/p>\n

Why Choose a Ready for Occupancy Unit?<\/h2>\n

Although pre-selling units has its own pros and cons<\/a> (they are cheaper than RFO units), it does not suit those buyers who would rather see the finished product before investing a considerable amount of money. This is an understandable concern since there are developers who fell short of the expectations. There are also real estate agents who tend to overpromise just to close a deal. This results to buyers ending up disappointed because the units that they got do not look exactly like the renditions shown to them during negotiations. Thus the conflict of what\u2019s best \u2014 preselling vs. RFO unit<\/a>. If you want to see exactly what you\u2019re going to get before making commitments, an RFO unit is the best option for you.<\/p>\n

With so many condos for sale in Manila, it can be difficult to select the one that will fit your needs and preferences. Here are some of the factors you have to consider when looking for the perfect RFO condo.<\/p>\n

1. General appearance and condition of the unit<\/h3>\n

Checking out an RFO condo lets you see the actual unit which will help greatly in your decision to make that down payment. You will see the condo’s design, architecture, electrical wiring and other factors that contribute to the unit’s appearance and condition. This sure beats looking at architect\u2019s renditions for pre-selling<\/a> units.<\/p>\n

Just because you\u2019re getting the unit brand new doesn\u2019t mean there\u2019s no need to check if everything is in working condition. During viewing, you should examine the RFO unit from top to bottom to ensure that there\u2019s little or no need for costly repairs and additions.<\/p>\n

Check the lights, faucets, bathroom flush, and locks if they\u2019re all working. If you plan to bring in old furniture, check the dimensions of the unit to see if it can accommodate your non-negotiable stuff. If you\u2019re looking at a fully-furnished unit, check if everything\u2019s complete and made according to the quality that is promised.<\/p>\n

2. \u201cLocation, location, location.\u201d<\/h3>\n

This real estate adage will never be obsolete because really, location is the prime factor<\/a> when determining the value of a property. A state-of-the-art condo building in an out-of-the-way location may attract fewer buyers compared to a standard building located in the middle of the city. See, convenience is usually the reason why people would consider buying a condo unit; they want a residence that is near all the places of interest such as schools, malls, restaurants, and offices.<\/p>\n

If you\u2019re looking for an RFO condo<\/a>, you need to look at units located near your workplace or school in order to eliminate the need for long commutes and transportation. Keep in mind though that the more convenient the location is, the more expensive the unit is going to be.<\/p>\n

3. Value for money<\/h3>\n

A condo unit with the right looks and the perfect location is still not the best option for you if you don\u2019t have the means to invest<\/a> in it. After deciding where you want to live, you have to find the unit that you can actually afford to pay for the years to come. You have to consider who\u2019s footing the bill, whether you have to finance it alone or with a spouse or family member.<\/p>\n

What happens if one of you fails to come up with the money due to unforeseeable events such as unemployment and sickness? Make sure not to stretch the budget too thin<\/a> and always leave room for emergency expenses. It\u2019s not wise to blow all your cash on condo rentals and barely have enough left for other necessities.<\/p>\n

4. Building maintenance<\/h3>\n

Association dues will be part of your monthly expenses for the RFO unit<\/a> so make sure you will be getting your money\u2019s worth when it comes to building maintenance. Make sure to look for a reputable developer who ensures that the facilities are well-maintained and the security and maintenance personnel are always on call. If there are already tenants in the building, you may want to interview some of them to get their feedback on building maintenance.<\/p>\n

5. Clear Contract<\/h3>\n

Once you find the unit suitable for your needs, you should proceed to the tricky business of reading and understanding the contract<\/a>. Always remember to read the fine print so you can save yourself from trouble in the future. If you\u2019re not confident of your abilities to foolproof an agreement, it\u2019s best to consult a reputable real estate lawyer who can guide you through the legal jargon and iron out the details with the contractor before you sign the paperwork.<\/p>\n

6. Utilities<\/h3>\n

These little things may seem trivial at first but it will matter in the long run if you plan to live in the condo you plan to buy. Among the concerns that belong to this category include network signal and utilities provider. There are condo buildings that receive poor signals for mobile phones and internet use, which can be a major hassle for you as a resident. Make sure to clarify these first with your agent\/developer before you make a decision.<\/p>\n

7. Reputation of the developer<\/h3>\n

Do your homework and check out the developer\u2019s reputation and previous properties. The condition of the buildings years after it was built will pretty much tell you how the developer maintains its properties. If the buildings are in dire need of repair and renovation and has been left in that condition for a long time, it\u2019s a sign that you should look for another developer. It\u2019s better to pay a little more money for your RFO unit \u00a0if it means living in a condo building that is built to last and maintained according to what\u2019s promised.<\/p>\n

Judging from the number of condos in the Philippines that you can put on your list of considerations, you will never run out of options when it comes to finding the perfect condo unit. Remember that buying a condo is a long-term investment<\/a> so make sure that you cover all your bases.<\/p>\n","protected":false},"excerpt":{"rendered":"

If you\u2019re looking for a place to stay in the area of your choice and you don\u2019t have the time or the patience to wait for a condo building to be finished, consider checking out the numerous ready for occupancy condo units available in the city. These are units that are already ready for turnover […]<\/p>\n","protected":false},"author":1,"featured_media":4416,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,7],"tags":[553,21,34,554,555,556,557],"class_list":["post-4415","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-advice-and-tips","category-renting","tag-condo-building","tag-condo-living","tag-condo-tips","tag-ready-occupancy-condo","tag-rfo-condo","tag-things-to-look-for-rfo","tag-tips-for-renters"],"_links":{"self":[{"href":"https:\/\/leasing.dmcihomes.com\/blog\/wp-json\/wp\/v2\/posts\/4415","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/leasing.dmcihomes.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/leasing.dmcihomes.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/leasing.dmcihomes.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/leasing.dmcihomes.com\/blog\/wp-json\/wp\/v2\/comments?post=4415"}],"version-history":[{"count":6,"href":"https:\/\/leasing.dmcihomes.com\/blog\/wp-json\/wp\/v2\/posts\/4415\/revisions"}],"predecessor-version":[{"id":15311,"href":"https:\/\/leasing.dmcihomes.com\/blog\/wp-json\/wp\/v2\/posts\/4415\/revisions\/15311"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/leasing.dmcihomes.com\/blog\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/leasing.dmcihomes.com\/blog\/wp-json\/wp\/v2\/media?parent=4415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/leasing.dmcihomes.com\/blog\/wp-json\/wp\/v2\/categories?post=4415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/leasing.dmcihomes.com\/blog\/wp-json\/wp\/v2\/tags?post=4415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}