Property of the Week: The Importance of Location
Location can make or break your choice for a dream home
Ever heard of the Three Ls? Location is one of the most important factors that you need to consider when looking for your dream home.
Read the original article ("X Marks the Spot”) in the May 2013 issue of Real Living Magazine. Download your digital copy of Real Living App now! Log on to summitnewsstand.com.ph/real-living for more details.
A Green Residences Bedroom
Q: I’ve been shuttling from Caloocan to Makati for years, but now that I’m settling down, I’m torn between getting a simple condo right next to my office or a fancier condo with pool and jogging path (at the same price) in the outskirts of Pasig. Which should I choose? — Carole, Caloocan City
A: Like you, a majority of us struggle with our daily commute. That alone can get really stressful! In your case, if you’ve dealt with your long commute for years, then accessibility should be the first thing to consider in choosing your own place, rather than the lure of a pool and other luxuries. “Before anything else, it is essential for prospective buyers to diligently check the area before buying into the development,” says Ana Ilagan, a licensed real estate broker. Even if the property has top-of-the-line amenities but is not as accessible as other developments offering the same features, it won’t be as attractive. “Ideally, it should be close to a supermarket or a mall, to schools, to hospitals, or a church,” Ana adds.
A Pine Crest condominium unit
Ana also shares that the more popular choice for residential condominiums are those located in Makati, Taguig, Ortigas, and Eastwood. Major business districts are in these areas, making it easily accessible and convenient for a prospective unit owner. “People are more conscious of the value of time, so they flock to places that are close enough to offices, schools, and commercial establishments.” A development with a major mall nearby makes it more saleable, since the time and money saved may be worth the price paid for the house or condo unit.
But even if the development is at a good location, you still have to make sure that the developer puts a premium on the safety of their tenants. If you think there are not enough safety standards in place—for instance, fire safety measures are lacking, or the place is situated in a crime-ridden area, then you’re better off looking elsewhere. “A smart buyer takes into consideration the building’s safety standards for fire, flood, and earthquake in order to avoid problems in the future,” says Ana.
The stunning view and convenient location make high-rise living sweeter.
- Does the developer have a good record of turning over on time?
- Is there 24-hour security?
- Is there ample parking space?
- Are pets allowed (if you’re a pet lover)?
- What are the available amenities?
- What housing loan options are being offered by the developer?
Aside from Green Residences, Pine Crest is also a commute-friendly condo. Why is the location good? It is located in one of the busiest parts of QC and is a stone’s throw away from San Juan’s commercial Greenhills area, New Manila, and St. Luke’s Hospital on E. Rodriguez Sr. Ave. It is also a jeepney ride away from both LRT-2’s Gilmore and Betty Go Belmonte stations. Studio units start at P1.8M; 2BR at P3.7M. Visit www.vistaresidences.com.ph for more information.