Why We Want to Buy the Unit Next To Ours Than Buying a House and Lot #HomeBuddies



I'm imagining this as the future room of my two daughter. Le sigh!


Home update, everyone! We live in a condominium complex and with two kids, we figured that instead of purchasing a new home or building one, we will instead renovate and make our unit larger to accommodate us better. And no, this not prompted because I am a regular lurker on Home Buddies Facebookgroup. 😆



So, we started to look into the units beside ours and we found that we investment in a good real estate. For the past 10 years, our unit costs almost two times the amount we paid for it! That was great news despite the fact we know we will be paying more. Do we look forward to computing our monthly mortgage? Well, that's part of the process. 

You may be wondering - Why not buy a house and lot instead? It would cost the same and you get to own a piece of land. And yes, I do agree, a house and lot seem to be the best choice but not for ours at this time.

1. We do not want the stress!

Especially in the time of the pandemic, we do not have the time and the resources to ensure we will get our money's worth into building or even renovating a new home. Given how limited the current situation has been, the intermittent and unpredictable lockdowns aided in our decision not to buy an actual house and lot or consider building a house.


2. Convenience plays a huge role. 

Our complex is located in a very good area that has almost all essential needs are within our reach. We only realized this since the pandemic happens. We are in the best neighborhood. Our complex is within walking distance from a hospital, dental clinic, health center, barangay hall. We are near 3 major supermarkets, restaurants, fast foods, and so much more. It has been really easy for us to stay safe during the pandemic. And given the current situation of lockdowns, we want to maintain our current disposition.

We also are in a city that is proactive in providing COVID-19 vaccines and health care for those affected by COVID. We truly feel safe here. 

3. Security. 

Not only are we in one of the safest neighborhoods, living in a condominium has its added safety and protection. And not just for burglars and such but in keeping the dreaded COVID-19 away. We have strict safety protocol implementation, weekly cleaning and disinfection of our areas, and our complex admin coordinates with our barangay frequently, especially for contact-tracing.

4. Investing in a condominium right now or choosing to buy one could be the best for hard-earned money!

Real estate has been hit hard because of the pandemic and this is actually a good time for you to look for your ideal home because a lot of developers are leaning towards providing a more reasonable and flexible mortgage agreement. There has been a notable price drop in residential units in the metro and it's high time to take advantage of that especially if you're renting right now. And given how work-from-home life demands a better and livable space, this could be the best time to get your name on a deed.

And these are simply the few reasons why we wanted to expand our home with the unit next to ours. I'm already pinning inspiration on how to renovate the room for my two little girls.


And since we've been down this road before, we know the ins and outs of getting ourselves a good bank to provide us the best interest rate for our amortization. All we need to do is compute for the fixed and variable rate to see the projection of monthly amortization in the coming years and how it will affect our finances. 

Here are some simple tips to move forward in buying a condominium unit.
  1. Check your savings. Any home loans will require a deposit or initial payment. This is usually 20% or depending on the bank that would approve your loan.
  2. Shop for your new unit! - this is the fun parts! There are many virtual tours now!
  3. Contact a bank and get to know their home loans. Preferably one you are in good standing with. Your credit history will help you. 
  4. Ask for the flexibility of their interest rates. You can opt for fixed or variable interest rates depending on your financial capabilities. You can compute it easily using a mortgage calculator which one would suit you best. And always read the fine prints! 
Interest rates may change annually depending on your mortgage contract with the bank. This is where your relationship with your bank comes to play but know that there will be other variable factors and they will consider inflation over the years. It could be cheaper now but it may rise in a few years when the economy starts to recover.



That's it! I know it's going to be a long road ahead to expand our home with another unit but it's not stopping me from enjoying the thought that we will have bigger space to accommodate our #newnormal. We are quite happy with what we have now but feel blessed we are not locked in this. Even in this pandemic, we have room to grow. And that we are truly grateful!




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