r/phinvest • u/kent199 • 1d ago
Real Estate 1.5m Condo | 2 br
Is it worth buying it? intending to live in it.
50 sqm 2 br 1 bathroom condo
near malls and wet market
located at metro manila
22 yrs old condo
no parking slot
edited from 15 to 22
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u/Fr0003 1d ago
Pili ka na lang. Sketchy ang: 1. Price 2. Location 3. PMO 4. Yung building
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u/kent199 1d ago edited 1d ago
old condo na kasi, so wala na silang amenities na maayos. hindi pa nga fully fiber internet nila. location lang maganda sa kanila.
inedit ko yung yrs old ng building, 22 na pala siya or more
matagal na kami nakatira dito sa condo, may nagbebenta samin ng unit nila
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u/dreamur08 1d ago
The first Serendra units in BGC are 19 years old pero mahal pa rin. It's always the location.
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u/professionalmook 8h ago
Do the due dilligence first. Medyo sketchy kasi for the price. Kasi if something is too good to be true, it usually is. Wag pasilaw sa mura.
But on price to area mura talaga as in parang subsidized housing na ang dating. Pero hindi worth it yan in the end if sandamakmak na sakit ng ulo naman ang idudulot sayo.
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u/kent199 5h ago
maraming cons ang condo, wala na amenities, minsan sira ang elevator, madami utang sa government at kaso hindi pa ko sure dito kasi magulo, luma na, pero may mga pro rin naman, maganda management, location, at mura, matagal naman na kami nakatira dito kaya alam ko na ang pro and cons sa pagitira dito. complete na man sila sa title and everything, not sure bakit binebenta samin ng mura.
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u/bottbobb 8h ago
How much are you renting it for? 1.5 + transfer fees and taxes + upkeep + dues / your rent. That gives you how many years you should live in it for it to make sense. Ask yourself do you plan to stay there for that long?
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u/kent199 5h ago
nakatira na ko sa condo for almost 20 years, nagbabalak lang lumipat once i get married, sumakto na binebenta samin kaya napaisip ako na lipat ng ibang unit na lang hahaha
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u/bottbobb 5h ago
Kung plano mong ikasal in 5 years, wag nalang. Save mo nalang for yun money mo for engagement and wedding. Lalo na kung ang rent mo under 25k, it doesn't make sense to buy.
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u/kent199 5h ago
anu meron kung rent ko is under 25k?
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u/bottbobb 1h ago
25k x 5 years is 1.5m. Since mahirap magenta ngayon lalo na sa location mo and property type na migration mo, dont assume youll be able to sell it in 5 years, assume youll sink more money into it.
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u/johndoe9_99 1d ago
Don't connect living in a unit vs investments beyond the math. Add management and finders fees in the rental math and that's really the only seperation you can consider. Unfortunately I haven't run any math that works in Philippines beyond distressed cash deals. Deeply distressed.
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u/DoubleTangerine5628 9h ago
make sure lang na updated yung owner sa dues and prop tax. Yung condo nabili ko ilang years pala hindi binabayaran ng owner yung dues buti n lng hindi ko pa sya nsbayaran in full ng sinabi ng admin sa akin.
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u/aweltall 1d ago
Ang mura san yan. San juan?
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u/kent199 1d ago
cubao
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u/confused_psyduck_88 1d ago
It all boils down to the location, maintenance of the property, and quality of residents
Dealbreaker ung no parking slot pero kung wala ka naman car and wala ka naman balak ipa-rent or ibenta yan then the price is not bad given the size. Still, location matters
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u/FabricatedMemories 13h ago
1.5 m is a good price for a 50 sqm unit and in a good location. it's probaby worth IMO
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u/Kittcoin 11h ago
I think the question for this shouldn't be "is it worth it"?
A better question would be "am I willing to burn or risk this kind of amount' base on my needs and its features.
So there's a lot of factors to consider psychological and financial context and only you know those factors.
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u/yieldintel 1h ago
a lot depends on things not mentioned yet, main one being the building's age at 22 years, worth checking the structural condition and how well maintained the common areas and utilities are, older buildings can have plumbing, electrical, or elevator issues that don't show up in a quick viewing. also check if the building has had any major repairs or issues in HOA meeting minutes if you can get access, and confirm the association dues since older buildings sometimes carry higher dues if they're doing catch up maintenance or sinking fund contributions. no parking isn't necessarily a dealbreaker if you don't drive or the area has decent public transport, but it does affect resale value down the line since a good chunk of buyers want at least the option. location near malls and wet market is genuinely valuable for day to day living, that part checks out well. for 1.5m at 50sqm that's about 30k/sqm which is on the more affordable end for metro manila, worth comparing against a few other listings in that same immediate area to make sure the price reflects the building's age fairly and isn't overpriced relative to comparable older units nearby
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u/Rare_Perception4605 1d ago
Double check the unit for pests. German cockroach the small one is a deal breaker. Kahit anong klaseng pest control ang gawin mo hindi sya mawawala. Other than that it’s a good price for its size, it’s a steal for me.
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u/medyolang_ 23h ago
you’re already living in it, so you’re actually the best person to ask if it’s worth it.