Learning More About Condominiums In The Philippines

Published: 25th May 2010
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Looking to buy some condo philippines? Well before buying a condominium, its important to take note of the things that one could experience in living in a condominium. Condominiums aren't like apartments or houses. Owning a condominium entitles its owner to a modified form of ownership, and are very important to take note of it. So what is a condominium? And what are the things to look out for in buying a condo philippines?

What is a condominium?
Condominiums are a type of multi-unit dwelling in which each unit is individually owned while the rest of the building or compound is jointly owned. Many say that condominiums are a type of apartment which are different in terms of ownership. Apartments are rented or leased to tenants while condominiums are owned individually.

However, its ownership is a modified form of owner occupancy or home ownership, the type of housing tenure that embodies the owning of a house. This is because the residents of a condominium can only have the right to own their units, while the rest of the building or compound are jointly owned by all the owners.

Tips in choosing a condominium
The number of condo philippines have steadily grown throughout the years. This is because of the continues demand for more condominiums by the Filipinos. And because of its growing numbers in the market, choosing a condominium has become a struggle for many. So here are some of the things that one should think about before buying a condominium:

Location
Choose the location that will serve your needs wisely. There are many types of condominiums today, there are those found near or inside major business districts, while some are found in the outskirts and even in provincial areas.

Rules and regulation
This is very important, to learn of their rules and regulations. Like apartments, condominiums are also known for their rules and regulations that residents should follow. Some of these rules may involve simple restrictions such as no pets allowed, to a more extreme restriction from the number of occupants a unit to restricting children entirely from their building.

Monthly fees
Learn of the cost of their monthly fees. Every condominium obligates their residents to pay a fee for the maintenance of their condominium as well as security. According to a lot of Filipinos, the bigger, more luxurious, a condominium is, the larger its monthly fees.
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