Bonifacio Global City, also known as BGC, is a place where the night is as vibrant and full as the day, especially The Fort. While visiting BGC or The Fort may be fun and exciting, it’s a totally different story when you are thinking of living there.
To put it bluntly, living in a place like The Fort, or on your own in general, is expensive. Though the latest condo up for sale at The Fort is enough to entice you to buy or rent it, you may want to consider other living options.
Suppose the time has come for you to move out of your parents’ house and you are more than ready to do it, but then you ask yourself: “Where is a good place to live?” or “How affordable is this area?” When it comes to living on your own and buying a condominium for the first time, there are a lot of things to consider. As a matter of fact, even the thought of purchasing a condominium for the first time needs a careful and precise planning.
Here are some of the things you should prepare when buying your first condominium unit no matter which area you choose to live in:
Determine Your Budget for Affordability
Like most things, a condominium unit isn’t cheap, though it depends on how much you can afford for one. When determining whether to buy or rent a condominium for yourself, one of the things you should consider is your income. When you have a concrete grasp of how much your overall income is, then you will be able to easily set a budget for your ideal place.
Aside from being able to afford your own place, you must also consider other expenses such as electricity, water, maintenance, and your daily expenses such as food, transportation, and other amenities. Either way, a careful consideration is always the key to a successful budget planning.
Determine Your Location for Convenience
Another important consideration that you should take into account is where you’ll want to stay. The overall location of your condominium can determine the proximities of nearby places you will be going for other purposes and how long would it take you to get to work from your condominium. The closer your condominium is to work and other important places, the better it is for your finances since you will learn to manage your savings that way.
In addition, it is also best that you deeply delve into the crime rate of your location to ensure that it is the best place for you to purchase your condominium. Moreover, make sure that your condominium’s location has a police station and hospital nearby. This should make you feel safe and protected if ever you find yourself in dangerous situations.
Prepare Any Required Documents
When thinking of buying a condominium, prepare the essential documents needed to seal the deal. These documents are needed in order to ensure the condominium’s broker or any person of authority that what you are about to purchase is through legal means and you are serious with your intent to purchase the unit.
These are some of the documents that you need to prepare if you purchase a condominium unit:
- Proof of Employment
- Proof of Income
- Letter of Intent (Offer to Purchase)
- Reservation Agreement
However, there will be other documents that you will encounter upon purchasing your condominium. This is why preparing the essential documents will ensure that you will be on your way to living on your first condominium.
Bonus: Always Have a Contingency Plan
You may have your eyes set on that condominium unit in The Fort, Makati, or wherever and you are determined to get it. The bad news is, other people may have their sights set on it too, which decreases your chances of getting the unit. For this reason, make sure that you always have an alternative plan if ever your first condominium choice is already unavailable.
Don’t worry if ever you don’t land the deal. Remember that there are other suitable cities in the Metro to own a condominium unit. When you have a contingency plan, you are assured that, no matter what, you will be able to seal the deal and purchase your very first condominium.