Overview
- Buying a unit in Pasig offers a vibrant lifestyle with dining and entertainment, while preselling condominiums provides lower prices and personalization options for homebuyers and investors.
- Some of the steps in buying a preselling condo include researching the developer, visiting model units and open houses, evaluating payment schemes, requesting the preselling price list and other costs, reserving your unit, and monitoring project updates.
- Buying a condominium can be straightforward with these steps, leading you to your dream home in no time.
Buying a unit in a bustling city like Pasig can be an exciting and rewarding journey. With access to diverse spaces, developments like Laya by Shang can provide a lifestyle filled with dining, entertainment, and cultural experiences right at your doorstep.
Opting for a preselling condominium offers unique benefits for homebuyers and investors alike. Securing a unit early can mean a more affordable price, making it a smart choice for first-time buyers. Plus, you’ll have the opportunity to add your personal touch, making your new home truly special.
So, if you’re thinking about buying a preselling condominium in Pasig, here’s a step-by-step guide to help you through the process of purchasing your first unit.
A Step-by-step Guide to Buying a Preselling Condominium
Condominium shopping can feel like a daunting task, especially if you’re looking for a preselling unit. However, with a few simple steps, you can ensure that the condominium you choose is not only a good investment but also a place you can call home.
Research Developers and Projects
Buying real estate requires doing due diligence, especially when it comes to preselling condominiums. One important step in this process is researching developers and their past or ongoing projects.
Understanding the developer’s track record is essential. A developer with a history of successfully completing high-profile projects in the Philippines such as Laya’s developer, Shang Properties, instills a sense of confidence in their ability to deliver quality developments.
Good developers typically finish projects on time and within budget, ensuring that the properties meet solid quality standards. This can help you avoid the risks of delays and poor construction that sometimes come with less reliable developers.
Visit Model Units and Attend Open Houses
Buying a preselling condo in Pasig involves touring showrooms and model units to ensure that the unit you’re interested in meets your size requirements and lifestyle needs.
Model units allow you to experience the layout firsthand, helping you visualize how your furniture will fit—something that’s often challenging to gauge from photos or floor plans alone. For instance, visiting model units is a great way to see which of Laya’s options suits you best, whether it’s a studio, one-bedroom, two-bedroom, or three-bedroom layout. Each unit is designed to maximize space and comfort, enabling residents to create their ideal living environment.
Open houses also provide the chance to evaluate the quality of materials and finishes used in the unit. This inspection can reveal craftsmanship details that might not be obvious in marketing materials.
Evaluate Payment Schemes
Once you’ve decided on what you want and where you want to be, it’s time to think about the “how much”—taking a closer look at the payment options available for your chosen condominium.
Exploring different payment schemes helps you find what best suits your budget. Flexible plans can make the process less stressful by spreading out the costs, so managing monthly payments becomes a bit easier.
Many developers offer financing options such as monthly installment plans for the down payment, allowing you to spread the costs over several months. This added flexibility can make it simpler to handle your finances while the project is being completed.
Request the Preselling Price List and Other Costs
Now that you’ve settled on your budget, the next step is to request the preselling price list and other related costs from your chosen developer.
A preselling price list offers a clear breakdown of the total cost, including the base price, additional fees, and any potential discounts. This information helps you budget effectively and prevents any surprises down the road.
During this stage, it is also a good tip to make sure to factor in all associated costs, like maintenance fees, property taxes, and any potential changes due to inflation or market trends, leaving you more prepared.
Reserve Your Unit
Now that you’ve checked out almost all of the necessary steps, you are now ready to reserve your unit. Reserving early gives you a better chance to pick from a wider range of available units—whether it’s a specific floor, layout, or a view you prefer. This can be especially helpful since the more popular options tend to get snapped up quickly.
By the time the project is finished, your unit’s market value might have gone up, turning your reservation into a potential investment. It’s not just about buying a home; it’s about making a smart choice for the future.
Monitor Project Updates
With most of the steps behind you, it’s time to relax and keep an eye on the project’s progress. Staying updated on development can help you manage your finances and set clear goals. Knowing when the project is set to finish is especially helpful if you’re planning to rent out the space or make it your new home.
Following market trends during this time can also give you a chance to take advantage of any property value increases before you move in. This could lead to a nice profit if you decide to sell later on.
What is Turnover and How Do You Prepare for It?
A turnover is essentially the point where you are handed the completed unit. his phase involves a few important steps and preparations to ensure a smooth and hassle-free transition.
Before the turnover, thoroughly review your purchase contract. This document outlines your rights, responsibilities, and any specific conditions related to the turnover process, including timelines and warranty details.
Next, conduct a final walkthrough. During this stage, pay attention to the quality of construction, and the included features, and make sure all appliances and fixtures are in working order.
It’s also the time to prepare for any final payments, such as the remaining balance and any additional fees.
Key Takeaway
Buying real estate, such as a condominium, doesn’t have to be a daunting prospect. With these simple steps, you’ll be sure to find and purchase the condo of your dreams in no time.
Find the perfect unit here at Laya by Shang Properties. Get started on your journey to luxury living, and let us help you discover a space that truly feels like home. Don’t miss out on this opportunity—reach out now!
