The condo thread

it will probably depend on the dmci condo, if they provide guest parking. for flair towers in mandaluyong, they provide the following overnight parking fees, last time my sister stayed. guest parking is at basement 5 but not sure how many slots:

- park before 11 pm: rate is 40 php for the first 2 hours, 15 php for the succeeding hours until 6 am
- park within 11 pm to 6am: flat rate of 150 php until 6 am

 

Hi folks. New DMCI Lumiere condo owner. Any suggestions on where to get the best deals in household appliances ( Ref, washing machine, gas stove, aircon, microwave,TV, etc. ) ? TIA.

 

Our studio unit in Three Central (Megaworld, back of RCBC) is just about ready for turnover. Signed the loan docs with the bank already, and we're just waiting for the actual turnover from the developer.

Problem is, we don't know exactly what to do with the unit. Do we sell it outright? Do we rent it out long term (how to find a renter?), or via airbnb (we need a guy to maintain/service the unit. Know anybody in Makati area who does this?)

Yeah you can say, we really didnt think this trough.

 

You can have it rented to take care of the monthly amort., Typically, the developers will offer leasing services to take care of finding you a tenant and ensuring that they pay the rental. They usually do credit checks and tenants are required to submit PDCs to ensure that they pay the monthly rental. Not sure about the fees though. You can also look a for property agent. They also offer the same services. Their fees are usually equivalent to 1 month of the agreed the monthly rental.

 

You can check sights and sounds for tv and aircon (https://www.facebook.com/sightsandsoundsav/) , or if you want to visit a shop, the cheapest i found for aircon deals is welcome home appliances which is located in wilson street, bought an aircon 2.0hp (panasonic) for 43k (ansons quoted me for 47.5k, western appliance quoted me for 44.5k)

 

Hi I have some concerns on the new 12% vat law for all condo units (regardless of the price) which will be implemented next year.. currently condo units below 3.2M are vat exempt..

As per the sales agent, we are exempted from this since we have already started on our payment several months ago. She said the new vat law will apply only for those who will buy after it was implemented.

My concern is that our contract to sell is still under process and we are paying for our unit thru installments for 42 months... should we be worried?

 

No, as long as you keep proof that you committed to purchasing the unit before TRAIN law is passed.

In your case, that's the monthly amortization.

 

Anyone with experience with SMDC condos?

I usually walk away from their offers, but they’re supposedly planning something very near Rockwell. Just giving it a thought just because of the location...

 

From what i've heard, some banks don't take SMDC condo's as loan collateral.

 

Really? Thanks for the info. I wonder if BDO won't accept it, them being "sister" companies?

 

I have a condo with SMDC. Their turnover was on schedule. The issue I have with their condo is the sizes (studio type, 1 bedroom, etc). I think they are smaller compare to other condos, especially the high rise ones. Also, if you are buying from them, make sure you keep all the receipts and other transaction documents. During the turn over of my unit, SMDC informed me that my I have not remitted my reservation fee and was charging me for it. Good thing I have all the proof of copies for the payment. It seems the sales agent who took care of my purchase did not file or remitted my payment properly.

 

yeah i had bad experience with their agent considering that the agent is a friend of ours.

i'm waiting for the turn over for an SMDC unit over here in Mandaluyong, wondering if they will deliver on time, i believe they mentioned that it is delayed by 6 months, should have been a wonderful gift for the wife, but i guess it will be turned over before the year's end (literally a week before 2020).

 

Speaking of, SMDC+Federal Land finally launched The Estates near Rockwell which beat ALP's pricing per sqm. Designed by Foster + Partners, the same designer commissioned to build some of the iconic Apple stores.

I'm quite impressed with the overall project tbh, that vacant lot across Rustans Makati is finally being developed after the standoff between two families (whose fathers jointly purchased the lot).

 

^Welcome to Condominium Nightmares, where sizes surprise you, agents scam you, and fees overwhelm you.

Been renovating our condo for the past three months already and still more to do even if it’s RFO. The kitchen sink is unaligned to the granite counter, the faucets are inferior, the flooring has pockmarks already, the bedrooms lack cabinets (or none at all), the lights are grossly disproportionate to the size of the area, etc. etc. etc. After spending an inordinate amount of money to buy one, even on pre-selling prices, in cash or credit, and still spend more for renovating (not to mention the exorbitant parking fees and use of common areas), it’s a wonder why the condo business though is booming. At any rate, as empty nesters, the condo is a more viable place to live in among ourselves without the hassle of a large and mostly unoccupied house, especially one with placements near malls, conveniences, and public transport.

Welcome to Condo Living.

 

Mm....booming?.......foreigners (from SG, HK and China) are driving up the prices plus the usual speculators. Then there’s the booming POGO industry (Phil online gaming operators a.k.a. promoters of gambling in China where it is illegal). I hope the DOF follows through their vow to collect the correct taxes since employment benefits for Filipinos are negligible.

 

Speaking of foreigners taking up condo space, a couple of them (possibly Chinese or Korean) are my neighbors right now and come home middays from their work (possibly that booming POGO industry) and sleep until the night before leaving again past 10-11pm. Luckily, they’re quiet and keep to themselves, don’t look at you in the eye, and occasionally asks if you have spare 3-in-1 coffee around. I don’t, but I offer them espresso which they oblige. Being a good neighbor I am.

 

Do you already information about this project of SMDC? I'm curious!

 

Mm...if we go by rockwell price of around 375,000 per sqm., that smdc condo project will probably cost close to that so a studio size of 30 sqm will probablly start at 11.2 M plus plus.

The record right now is 1.2 M per sqm. for a handful of AAA-class condo in Makati and BGC, close to prices in first-world cities like L.A.

Crazy.