Makati is one of the best places in Manila to live in and the city offers the best in Philippine real estate. High-rise buildings, shopping centers, schools, and hospitals are all over the place, especially in the areas surrounding the Makati Central Business District. The construction of various commercial buildings and condominiums is a common sight in the city.
Although the country’s overall economy is still far from ideal, many sectors have fueled the real estate boom during the past years. These sectors include the overseas Filipino workers and government employees.
In the past, Filipinos typically have conservative housing choices. They prefer buying a house than rent an apartment or purchase a condo unit. However, because of changing lifestyle, more Filipinos prefer to buy a Makati condo or rent a Makati apartment instead.
Condo units and apartments are very convenient for people working in this city, but before jumping onto the bandwagon, here are some things to remember before moving in.
- Research on the Makati condo that you want to own or the Makati apartment that you want to rent. Check if it has parking slots already reserved for tenants, as well as its accessibility to major roads for your convenience.
- Visit the property personally if you want to check important things such as flooring, ventilation, and especially, utilities. Check if the electrical wirings and water pipes are in good condition.
- Check for any leaks and other damages which may cost you if it is not repaired before you move in.
- Inquire about the property developer or the apartment owner. Were they involved in any scams in the past? Do they have a good relationship with their tenants?
- Study the price and the lease terms of the Makati apartment that you want to rent carefully. Make sure the fees are reasonable for you. This would apply when buying a condo, too.
- If you do not have enough knowledge or experience in checking a Makati condo, it is better that you hire an expert or bring along a friend to accompany you to the property.
Buying a Makati condo or renting an apartment in this city is certainly worth the money that you will spend. However, it is best to be smart especially when it comes to buying or renting these properties. Philippine real estate buyers can follow these tips to make sure they are not buying a property which will prove to be a waste of money.
