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Stef Anub - Lead Broker, Philippine Realty Group
Your choice of home depends on your preferences or your lifestyle. You may be single, living alone, or married with a bunch of kids already. This will be an important factor in your choosing a home. Some would like their homes to be simple and cozy while others want it bigger and more like a mansion or palace.
Still others, if they are city people, want to have an urban living lifestyle, while some would want homes in the countryside, a retirement home in front of a beach, or even at a ranch or at a top of the hill. You may fit into one of these categories of people, but whatever kind of home you choose, you need to make informed choices because you will be investing in a permanent place to call home.
The article below is intended for readers who are interested in buying a home, or more particularly, a Cebu condo.
Cebu City itself is a historical treasure of the country, being the oldest city in the Philippines in the modern sense. It also has numerous tourists spots and destinations for every traveler. Cebu was already a large settlement by the native Filipinos, but the Spaniards turned it into a city and hence, it became an important metropolitan center in Central Philippines.
Cebu City settles at the eastern side of Cebu island. The country's largest domestic shipping port is found in Cebu, and accounts for about 80% of the country's most important shipping companies. This alone means that there are many job opportunities that are present in the city.
Cebu is only second to Manila in terms of the volume of domestic and international flights, which is hosted and operated by Cebu Mactan International Airport. This is an important contributor to the growth of businesses and commerce in the Visayas and Mindanao areas.
Aside from its historical value, Cebu City and the province is very rich in natural scenery, being the home to many of the country's most beautiful beaches, hotels, and resorts. In fact, many foreigners make it a point to visit Cebu to have some fun in their beaches. Locals too, aren't left behind; they also constitute a lot of tourist traffic in the area. Many choose Cebu to be their permanent home, although it is not surprising that many consider the city to be their second home or even their retirement place.
One of the biggest draws for living in a condo unit in Cebu is its convenience and availability. Whether staying for a short time or more of a semi-permanent mode of living, owners of condo units will find less hassles in commuting in and out of the city, and if the condo is strategically located, owners will have the benefit of being near to malls, hospitals, schools, and so on. Condos in Cebu are relatively inexpensive and economical if you count the long-term benefits.
Luxury living is yours when you buy and live in a Cebu condo. Most condominiums in this city are geared towards more luxury and quality; meaning you can experience a clean, quality-laden lifestyle within the heart of the city.
There are a lot of condos to choose from in Cebu City. There are many designs of condos in the city, catering to the different needs and lifestyles of the target market. For example, some condos located in Guadalupe, Cebu are designed to have a Japanese-feel, and so their interior designs are incorporated with modern Zen-like artistry and designs.
Condominiums in Cebu are synonymous with convenience. Condos in this city are strategically located in the most important areas in the metropolis, and especially near the biggest shopping malls in the city. This means you can go to these malls right away and hassle-free, and then enjoy a wide choices of restaurants and dining areas. Having your condo unit near these places makes it convenient for you to eat out in style when the opportunity arises. Aside from these, you also have a wide array of entertainment options at your doorstep, so to speak.
Although Cebu condos are mostly available through bank financing and in-house financing (through the developers themselves), you can also buy them through the Pag-ibig Housing Loan scheme. This arrangement is made available by the government's Home Development Mutual Fund. This housing loan is available to members of Pag-ibig only, who have contributed at least P4,800 pesos, or 24 months' worth of contributions. This means that monthly contributions are at 200 pesos per month. For regular employees, half of that monthly contribution is shouldered by their respective employers, and half of it themselves. Voluntary and self-employed members however, pay their contributions at full per month. This housing loan program is also available for Overseas Filipino Workers (OFW).
There may be others who do not have the opportunity nor the luxury of staying in Cebu for a long time or permanently. In this case, renting a condo unit in Cebu may be the most convenient and economical option. Of course, you should choose to rent those that will meet your personal preferences and lifestyle.
While scouting, negotiating, and buying a Cebu condo may be hard but fun, it would do well for buyers to be more cautious and to take time in deciding their abode where they would live for many years. Buying a condo unit, or any residence for that matter, consumes a lot of financial resources and is easily the biggest financial investment for many people.
It is good not to be impulsive in buying the first condo unit that you see will fit you. This is good to remember especially if you barely have the financial capability to sustain paying the monthly mortgage for a long period of time. Take your time, make lists, compare units to your heart's content, get advice from friends, examine all units carefully, look at the amenities, do not be afraid to refuse a good offer (if it has certain disadvantages you don't like), and mind your budget.
In checking out the condo unit, take time to learn a little bit about construction, architecture, and interior design. Is the condo built with strong materials? Is the overall design of the building functional for you and pleasing to your eye? Is the interior landscape appealing to you? It is always a good idea to ask the developer about the material details of the condominium.
There is a lot of difficulty involved when buying a condo unit, and a lot of those difficulties can come through meeting the monthly mortgage and doling out the downpayments. So there are a lot of considerations that have to be made. Many people are challenged by monthly mortgages, and that is what drives them to slave away at their work everyday. Renting is equally as hard too, since rental fees are, more often than not, as high as regular mortgages. Unless one is a billionaire, there is no workaround against mortgages; they are simply a fact of life.
Some of the tips may be easy for some, while others are truly hard to follow. Yet acquiring a place to call home is not at all easy and is a truly big investment, and purchasing Cebu condos is no exception!