LOCATION
When buying real estate,condo units included, a major factor to consider is location, location, and, well, location. This is because where a property is situated greatly affects, for one, the potential for price appreciation.
DEVELOPER
Determined if the Developer has a good track record in finishing the project on time.
BROKER / AGENT
Is the broker / agent license with the PRC, HLURB ?
PROJECT SPECIFICS
Clarify if the lot has a title in case of residential lots. Furnished, semi furnished, or just plain finish in case of condominium units.
SITE VIEWING / TRIPPING
Be sure to visit the project before deciding to push through with investing.
RESERVATION FEE
Ask the broker / agent if the reservation fee is refundable.
FINANCING OF THE LOAN
Can it be finance through bank, Pag-ibig, or in-house.
ARE YOU QUALIFIED
Ask yourself if you are qualified to invest, since most broker / agent are hesitant to ask your salary as not to offend you, bear in mind that most banks required a monthly salary of 40k / month for the buyer to qualify for a loan.
NET DISPOSABLE INCOME
Divide your monthly amortization by 33% to determined the NDI.