Category: Condominium

As someone who lives down south of Metro Manila (think 1.5 hours stuck in the van or car when traffic is bad, and 3 hours when it”s just horrible), I”ve often found myself thinking of renting out a condominium unit in Makati, since the biggest and probably busiest business district in Manila today is Makati (although Bonifacio Global City is giving Makati a run for its money).

Often, to get to a decision I would write down the pros and cons of making such a move, so before I do jump the bandwagon and live out on my own, let”s list down the WHYs and WHY Nots of such decision shall we?

Why Not?
Because living alone in a big city is scary. And you”ve never tried living alone
Counter: but this will teach me independence which in the long run will build character.

Why Not?
May be expensive “” especially with the rental rate of most condominium units in Makati

Counter: renting out is not an option really, it”s better to buy or rent to own “” and there are a lot of condominium units and/or real estate properties in Makati allowing such terms.

Why Not?
Because you”d be living alone and security cannot always be relied upon
Counter: but Ayala Land, one of the biggest developers in the Philippines, promises and follows through on its promise of safe & secure living in its abodes. Should you ever doubt that? Hmm, don”t think so.

Now, for the WHYs…

Why?
Because living in Makati will make it easier for you to go to work, especially if you work in Makati. In fact, even if you do work somewhere up north, you”ll always be opposite the traffic rush during the morning. Most people go to Makati “” while you, if you work in Ortigas, will have an easier time since you”ll be going out of the city.

Also, remember, it takes you a while to get up in the morning, and since you”re not a morning person, living in Makati will give you more time to spend on yourself. Maybe now you can eat breakfast. Maybe now you won”t always be late for work!

Why?
Because investing NOW is better than later. You won”t be asking or scolding yourself why you didn”t invest now. What to invest in? How about a condominium unit? If you don”t want to live anymore in Makati you can always sell it or rent it out.

Why?
Proximity to most cities in the Metro. You are just a 15-30 minutes away from other business districts. And night spots. And malls. And what girl doesn”t love to go to the mall (whether it”s for buying or just window shopping). The metropolis is your oyster and it”s just a few steps away from your condominium!

I know there are various reasons to buy and not to buy a condominium unit in Makati. In fact, I can think of a few more but the ones above are the most salient points.

For many persons buying a house is next to accomplishing their needs and desires. People see so many benefits when it comes to buying a house or renting one. Whereas a few find a condominium worth buying, while others feel that a house is the best option for them. Whereas the truth is that, just like no two people in the world have all features matching likewise the case with the house and condo is no different. While choosing a home to buy is an essential decision, similarly finding which out of the two actually meets ones requirement is worth consideration too.

Everything in the world has its pros and cons. Advantages and disadvantages go hand in hand. The truth is the price of the house depends on the location and the area, apart from a few other factors like the count of levels in the building, the kind of fitting and furnishings it has got etc. Everybody admires a beautiful thing a beautiful smile, a beautiful dress and a beautiful house too. Everyone dreams of buying a house in the finest location. The central area of a city is considered the best, as it is said to have access to all basic amenities. But the truth is that the price at which anyone buys a 2BHK/3BHK house in such a location, he could actually buy a home three times the space, at 10-20 minutes commute away from the site.

The benefits of having a house are just so many; more space ,an independent ownership and ability to remodel it as per individuals desire, are a few. The kind of restricted environment one has in condominiums is not there in a house. Therefore owning a house on any day is a better option. Also, anyone who prefers secrecy and is a taciturn, for him living in a condominium, going in meetings and other social gatherings is not so agreeable. Hence, owning or renting a condominium is not his cup of tea. Many people buy a condominium thinking that it would cost less and will be easily manageable but they later on realize that this is actually not what matches their nature and interests.

There are many-a-times complaints like, My neighbors are night people and when its my time to sleep, its their time to wake up. Such things can lead to loss of mental peace and can spoil the pleasure of living in a new house. Whereas others feel that living in a condominium gives shape and brings discipline to ones life. Almost everyone, who likes being surrounded with people, likes talking and discussing things is the one who should actually buy a condominium house. So, its not the kind of house but an individuals nature that defines which house is best for them.

Generally saying, condominiums are a fine choice for retires, small families or busy professionals, who want to be in a good location that ensures of safety but do not want a big house.

Evaluating Condo Siding Repairs

When trying to estimate the expenses involved when buying a Condominium, Condo siding repairs are certainly one of the things that you should look at. Many people overlook this possible expensive part of condominium expenditure, and end up being surprised at the cost. Often, poor siding does not cost that much to restore or even redo – the real costs comes from the possible damage that could lie below the siding.

Condo siding repairs are mostly dependent upon the type of siding you wish to repair. As a rule, vinyl, aluminum and metal siding are less costly repairs than on cedar or wood based sidings. The labor and materials for this are not incredibly pricey. Keep in mind that most siding can be easily removed and replaced with a new form or siding that is less costly, so you are not necessarily stuck with the existing siding. If the current siding on the Condominium is in good condition, however, you may be better off just repairing the parts that are needing repairs.

When observing possible Condo siding repairs, it is critical to check out any areas that are not properly sealed. These areas can easily have taken in water and moisture, so they are especially susceptible to destruction. If water or moisture has seeped into the wood under, then the damage could have extended to all of the structures in the building. Water quickly turns to mold or mildew, which in turn can literally eat away at the structure. Suddenly your Condominium siding repairs can turn into building structure repairs. Do not underestimate a little bit of water in your review of the condominium. Check it out completely.

Most condo siding repairs are less significant, however, and can be easily managed by Seattle Siding Specialist without considerable expense to the owner. Many condo owners elect to install all new siding anyway to upgrade the Condominium value and have a fresh appearance. Whichever way you decide to go, it is vital that you are thorough and conscientious. You do not want to have a condominium that has structural damage masking itself behind minor Condo siding repairs. It happens, and it could happen to you if you are not careful. The best way that you can be sure is to have a siding specialist come out and inspect the condo. This is one way you can be sure about costs, and make an informed Condominium buying decision.

If you are interested in more information on this matter – or getting a quote for installing new seattle siding, windows, roofs, decks, fences or painting – please visit http://www.siding-seattle.com

Condominium Purchase in Thailand

Purchasing a condominium in a tropical paradise is a dream for many foreigners who wish to escape the cold winters and the high cost of living in their home country. Thailand offers the foreigner many benefits including beautiful beaches, tasty food, friendly people, world class health care and inexpensive property. Many foreigners come to Thailand to purchase a condo for various reasons: for their retirement, as a second residence or for investment purposes. For those who desire to stay longer in Thailand, the ability to acquire property is an important issue. Many foreigners prefer to reside in a condominium since there is less maintenance involved for the owner. You can simply close and lock the door until your next stay. Projects in Thailand offer 24 hour security so you can feel safe that everything will be as it was when you left. From the perspective of a Legal Advisor, I would like to share with you the process so you’ll feel secure of your purchase of a condominium in Thailand.

Legal Structure

In Thailand, a foreigner may own a condominium 100 percent in his/her own name. Freehold title for the condominium purchase is the most secure method of ownership for the foreigner. If the project is over the 49 percent quota for foreigners, you may need to draft a lease contract for your transaction. In Hua Hin we do not find this problem since Thai owners are the majority in most condominium projects.

Legal & Financial Planning

Before you sign any deposit agreement or contract, you should sit down with a lawyer or solicitor to discuss the legal process. You need to know the correct legal process in Thailand for the foreigner to purchase a condominium. Remember that you are spending part of your life savings to acquire this property and you must carefully plan your steps in the process. Some banks will offer up to 70 percent financing to foreigners for purchasing a condominium. The repayment term can be as high as 20 years. Siam Legal offers free legal consultation to potential property buyers. You should get the legal facts of the property and contract laws in Thailand before you deposit any money.

Title Investigation

A comprehensive examination of title deed recorded at the Land Department should be done. You need to verify that the Seller has clear and legal title of the land before you enter into a contractual agreement. The title search will trace the land to its first possession. Don’t take the word of anyone who tells you it has been checked before. The lawyer conducting the title investigation will provide you a full report and a copy of the title deed in English language.

Due Diligence

Every financial transaction requires some sort of due diligence on behalf of the purchaser to verify that it is a sound investment. When you purchase shares of a company listed in stock market or a mutual fund you will generally research the profile and performance of the company or fund. The same is true when you purchase a property from a developer. You should check with the previous buyers to see if they are satisfied with the quality and time frame of construction. If you don’t have the time to spend on checking the history of the developer, a local lawyer near the development will know or can check the project, its directors and their reputation.

Deposit

When you feel satisfied with the property and it meets your expectations, you will be asked to make a deposit to show your good faith to continue the process. In return, the Seller will reserve the unit for you and start the process by drafting the contracts for purchase. Unless you write specifically a “get-out” clause in the deposit agreement, for example “subject to clear title” or “subject to agreement on the contract terms,” the money deposited is non-refundable.

Construction Contract

There are some fundamental elements which should be included in every contract. These are, among others:

1.Time frame

An agreement should have a time frame which stipulates clearly the starting date for construction as well as its completion date. Check for any extension clauses which normally give the developer a few extra months to complete without incurring any penalties.

2.Payment Penalties

Check that the penalties for default of payment are not too burdensome on you. Terms such as immediate rescission of contract and retaining the money you have already paid are not uncommon but there should be a period given to you to remedy this default.

3.Developer’s Default

Ensure that you have some recourse to a full refund in the event that the developer does not complete the construction due to insolvency or for any other reason.

4.Late Completion

Penalties should be given to you if the completion is late. This is normally deducted from the final payment due upon completion. Penalty rates vary greatly in Thailand although for condominiums there is a daily minimum penalty of 0.01 of the property’s value was made available to foreigners who did not qualify for a local loan. This gave many foreigners access to finance for their dream homes even if they did not reside in Thailand. Up until this time, there were only a handful of private offshore firms offering lines of credit of this kind and often at rather stringent and unattractive terms.

Bangkok Bank in Singapore still offers such loans to foreigners and the demand for this is increasing. They are able to tender loans in several currencies including US and Singapore Dollars (SGD). Currently, the interest rate for SGD loan stands at 6.00 for USD and 6.00% for SGD. However, it appears their processing fee may be slightly higher but offers the advantage of applying for the loan locally in Thailand without having to set foot in Singapore. UOB’s entrance into this niche market is a welcoming sign to the area of financing to foreigners in Thailand.

“Flipping”

Many investors target a condo project when the development first launches. They are keen to purchase the plum units in the project as an investment. Later, the investor will resale or “flip” the unit typically before the legal interest is registered at the Land Department. The value of the unit increases prior to the completion or title transfer. These investors will capture their profits without their names ever appearing on the title deeds. Care and caution should be exercised if you are “flipping” the unit since some developers will not allow assignment of the unit to another person. Some developers will allow this option but they will charge a very high administrative fee or even a percentage penalty.

Summary

Living in Thailand should be an enjoyable and relaxing experience. If you plan and prepare in advance for the acquisition of your property, you will be rewarded for your efforts. Those who take short cuts in the recommended process above will save some money but in the end it will not be worth it if something goes wrong. Property is a solid investment in Thailand as well as a great place to live while enjoying life in paradise.
Thailand Property & Real Estate Legal Services – Attorneys – Solicitors

The Summit at Copper Square is located in the hub of downtown Phoenix. Located on the corner of Fourth and Jackson, the property is a stunning landmark, its intense yellow and blue faade immediately striking . The twenty-two story high rise building is composed of premium, loft-style condominiums. When initially developed, The Summit at Copper Square was the highest residential tower in the Valley of the Sun.

The Summit at Copper Square boasts one hundred sixty-five condominiums, with floor plans ranging from one bedroom, one and a half bath, to two bedroom, three bath homes. The square footage varies by design, varying between 898 and 1,500 square feet. Because it is a high rise, The Summit offers unparalleled vistas of the city center. Dependant on on where the condo is positioned inside the community, residents have a view of Phoenixs wonderful urban and natural skyline during the day, and a fancifully illuminated metropolitan view in the evening. The fifth story of the building features an infinity pool, fully up-to-date gym and fitness center, a terrace lounge, and a convention/meeting room that residents will enjoy. The Summit at Copper Square has its own self-contained parking garage. Every condominium is designated its own space, and a parking lift may be installed to enable two cars!

The high rise downtown condominiums at The Summit at Copper Square feature a faintly industrial aesthetic, mitigated by luxury. The condos have hard wood flooring in the center living areas, chrome hardware, stainless appliances, and exposed ductwork, providing a contemporary feel. Furthermore, you’ll notice the commonly opulent characteristics, such as marble floors in the master bathroom, maple cabinetry, and granite kitchen countertops. The Summit at Copper Square in truth is a amalgamation of the best of both worlds, effectively marrying progressive trends with conventionally premium finishes.

In terms of environment, The Summit at Copper Square presents several possibilities for fun and culture. The site is ideal for sports fans, as it is within walking distance of Chase Field and U.S. Airways Center. The high rise is also near to the countless additional points of interest downtown Phoenix presents, including CityScape, the Phoenix Symphony, the Dodge Theater, the Arizona Center and the Herberger Theater. Moreover, the condos are adjacent to the art district. The first Friday of every month Artlink Phoenix hosts the country’s bigest self-guided art walk. There actually is something for everybody!

The solitary previous downside to The Summit at Copper Square was the developers fiscal problems. However, just lately, the bankruptcy court approved a Chapter 11 Reorganization Plan, subject to financing. This possible solution to the fiscal difficulties will probably mollify doubts regarding the strength of both the Home Owner Association, as well as the builder.

Presently, ten condos are available on the market in The Summit at Copper Square, ranging from one bedroom, one and a half bath units of 966 square feet for $125,000 to two bedroom, two and a half bath condos of 1,520 square feet priced at $390,000.

High Rise Condominiums (HRCs) can be defined here in Center City Philadelphia as buildings between ten and thirty stories tall. There are a number of options for that buyer here in town- from the existing buildings, to a slew of new construction projects already under way. The primary benefit of an HRC that most buyers will hone in on is security. Generally speaking, a twenty-four hour front door man is on premises to insure some type of buffer between residents and the street. A doorman also helps to take delivery of packages, and someone to make sure that guests are announced prior to arriving at your doorstep. So HRCs with their sense of security are certainly a selling point for many buyers in town. Also, many buyers choose high rises because on the higher floors views can be very nice. For those who travel a great deal, HRC living can be just the ticket as the building does maintain itself regardless of one’s presence. In addition, many HRC buyers see their living situation as being one that is fully managed: from hallway cleaning, to building maintenance, these buyers prefer to have it all done for them. For a price higher condo fee, they see this trade off as a positive benefit.

HRCs tend to have higher condo fees because they have more services. They tend to have the doorman, the elevator, the elevator man, the parking garage, the parking garage attendant, and some even return your videos and walk your dogs. Most of the time, HRCs are -full amenity buildings,- meaning parking, swimming pools, community rooms, ATMs, restaurants, barbershops, drugstores, etc. So the convenience of a high rise certainly makes it attractive for a lot of buyers. A lot of buyers aren’t interested in paying these high condo fees however warranted or justified they may be for the services that the building provides. A number of other buyers may not like the individuality, or the architectural elements or details, in some of the newer high rise buildings. Additionally, sometimes pet policies can keep people out of HRCs, as in most of the big high rises do not allow dogs. High condo fees, lack of individuality, and pet restrictions could be considered drawbacks to HRCs.

Examples of high rises in Center City can be found in two popular squares – Rittenhouse Square and Washington Square – and lately we’ve seen a lot pop up in Old City and the Art Museum area as well. The -newness- is another appeal for buyers in Philadelphia for two reasons: the newness itself, and also because the newer buildings benefit from the ten-year tax abatement. And the newer buildings all seem to be offering available parking with the units (usually at an extra cost). Some high rise buildings are exclusive in nature. Marked by a majority of larger sized units, some of the HRC’s have no studio units and a severely numbered amount of one bedroom units. These buildings have a tendency to be higher priced in nature, and generally in very strong perceived locations. Other HRC’s have a general mix of studio, one and two bedroom units. It should be no surprise that these buildings are generally lower in dollar per square foot prices, and cater to the -masses- as far as unit availability is concerned.

High rise living is very popular with a fair number of condo buyers. And will continue to be attractive as some of our lives become more complicated, mobile, are shared between (for some of us) more than one place where we call -home-.

Nowadays, people are choosing to rent or buy Makati condominiums versus buying or renting a house & lot in nearby cities.

This can be attributed to the fact that most people prefer to live in residential spaces requiring less maintenance, and they favor the proximity of Makati to key establishments in business such as work, popular lifestyle spots, schools and medical facilities. Add to this the ease of transportations routes and quick accessibility to most cities in the Metro.

Pricing is a concern with everyone whos ever bought a property in Makati. However a lot of developers have managed to meet the expectations of everyone from the different sectors of society from the young couple starting a family, a working student whose only got enough to pay for his or her rental/amortization, or an ofw who worked hard for years on end and is about to make his very first real estate investment. Theres a variety of Makati condominiums on the market catering to the purchasing power of the Filipino people. Not only that, banks have made it easier for the simple Juan to make a loan without selling his soul to the devil to make his down payment & monthly amortization.

Material wise, one has to be discriminating with the materials, design and finish as said on the brochure or contract given to you by the developer. Unfortunately, there are still some Makati condominiums who promise this and produce that whatever happened to following through with your claims. That is the reason when you are buying a Makati condominium, you must settle with a reliable developer who wont run out on you when the first signs of problem in your property strikes.

Now whether you make buy your Makati condominium for investment or residential purposes is up to you. Mind you, rental per square meter in Makati is pretty high as compared to other cities in the Metro. If you aim to sell it after a few years, you might also be surprised at the market value of your property as Makati land values have risen a thousand-fold over the past 50 years.

To live a luxurious and safe life is the want and need of each individual. For this, the main point that he considers is to look out for the luxurious stay and accommodation. If the stay will be top-notch then automatically the living also becomes rich. People have now started investing in condominium and look for the new condo launch in Singapore. Some of the new condominiums that are launched include Thomson View, Daisy Suites, Yishun, Duo Residences, among several others. In this fast moving world, investing in a condominium has lot of benefits, which one should know that why to investment in this apartment is effective:

You get luxurious lifestyle
The amenities that this unit has stored in for you are vast in number, specially the maintenance part. When you buy an ordinary house, you have to think over for the electricity, furniture, interiors, car parking, house upkeep, etc., but in the condo house you do not need to have the concern about all these aspects. These are under the association and maintained by them and if there is something that you want to get changed or something that you want to add on then you can ask the association members and that will be done accordingly.

Operating Costs are low
In most condos, the insurance, apartment maintenance, water bill, etc. are included in the cost of the apartment. If something is not happening right in the unit, then it will not cost you much. The expenses in the condominium are inexpensive and can easily be met by the people, who stay there.

Healthy and neat environment
The life in the condominium is healthy and neat life. The life at this place has to be experienced once, as you see in the pictures, the same scenario is seen practically as well. If you look at the houses, then you will see that along with the maintenance, people have to look for the healthy and neatness by their own, as an owner, you only have to take care of the every single thing. But on the other hand, you will first find the location of the condominium in the superior place and full of healthy ambience.

Safe and Secure place
The next reason for investing in the condo is security. Living at this place is known to be safe and secured. People, who are staying in the condo, are under the full and tight security. When people want to go for the vacation time, then also there is no need to worry, as there is special arrangement for the cameras around the apartment that takes care of your place in nice manner.

Condominium First Management Services Ltd is the best condominium management in Calgary

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Condominiums are considered as some of the most popular types of residential Philippine real estate today. Part of what made these types of housings popular is its many benefits that can cater to the needs of many Filipinos, from their needs for accessibility, to family-oriented housing and affordability.

However, these benefits are divided into two different types of condominiums; these are condominiums and condominium complexes. Each type of condominium is known for its different advantages, as well as disadvantages. So what are the advantages and disadvantages of condominiums and condominium complexes?

Modern Housings: Condominiums The typical condominium is most found in business and commercial districts. And it was because of these locations that condominiums became popular and in-demand in the Philippines. This is because of the luxury it offers to its residents, allowing them to live within walking distance or mass transit distance from their workplaces.

However, what made condominiums even more popular according to many Philippine real estate experts is its collection of amenities that residents can freely and exclusively enjoy such as their own indoor swimming pools, gyms, as well as a full-size sports complex.

Because of these amenities, Filipinos can enjoy a relaxing life even in the heart of some of the busiest districts in the Philippines. However, the disadvantage of these types of housings is that these are usually inappropriate for a growing Filipino family, especially for a growing child. This is because of its lack of necessary environment for children to run and play freely and safely.

This is the reason why condominium complexes were established, to provide a type of condominium that can accommodate the needs of many Filipinos in today’s modern lifestyles.

Modern Housings for the Family: Condominium Complexes Unlike condominiums, condominium complexes are mostly found in the outskirts of Metro Manila, or even in the provinces. Because of its location, these types of condominiums can offer a more family-oriented housing compared to other types of housings in the city.

Because of its wide open spaces and quiet environment, Filipinos can rest assure that their children will grow safely and freely. However, what made these types of condominiums even more popular is with their collection of amenities that not only grown Filipinos can enjoy, but also children.

Like condominiums, these types of residential Philippine real estate can also offer the same amenities but with the addition of recreational parks and playgrounds. The disadvantage of these types of housings is its location, which is too far from the city.

New Terms of Payment There are a few condominiums in the Philippines today that can offer Filipinos the chance to own a condominium without having to worry about the cost. This is because these new condominiums can now be bought and paid in installment, allowing more Filipinos to own a condominium rather than to rent an apartment unit.