Great tips for buying a house and lot in Makati - M

Introduction


So you have decided to target getting a house and lot for sale or a vacant lot for sale in South or North Forbes Park, San Lorenzo Village, Dasmarinas Village or one of the uber exclusive villages or subdivisions in Makati. Ensuring your requirements are clear will save you time and effort in the process of finding a place.  What are the typical or top things to take into consideration? Read on my collated list based on numerous viewings heheheh.


Video



Top things to consider when getting and house and lot in an private subdivision


  1. Intent - having a clear intent will help make sure the rest of the requirements are clear. Some items to consider are:
    1. Are you the end user? live on the property? how many are you? what do you need?
    2. Are you are you an investor? you will lease it out,? what type of clients are you targeting?
    3. Do you intend to build from the ground up or get something that is already made, or get an old property tear down and rebuild?
  2. Make sure to identify your needs versus the wants. Needs are all the non-negotiable items. Wants - are the nice to have items that you can forego if push comes to shove.
  3. Location
    1. Specific Location - a lot of people come up to me and say i want something in Makati, but Makati is very big so please be specific, which are the preferred areas like Salcedo Village, Forbes Park, Makati CBD etc. There are various barangays/districts in Makati alone. Consider the regular things you do day to day and how you would do it given the location you have in mind. e.g. for food, clothing, entertainment, health etc.
    2. Perimeter - is the property located in the perimeter of the subdivision? While it has easy access to get out of the subdivision, you may have to consider if you are ok with noise level, safety and security.
    3. Flood - is the property in a typical flood zone during rainy season? While property will tend to be a little cheaper, you will have to consider the risk of floods.
    4. Creek - some subdivisions have open creeks running through certain sections such as San Lorenzo Village. So you will have consider if you are ok with a house that has a creek at the back or side. Typically depending on the Deed of Restrictions of the subdivision you may increase the height of the wall separating the house from the creek. 
    5. Tumbok - lots of people again don't like houses that are at the ends of streets
    6. Phases - some subdivisions like Forbes Park and Bel Air Village have phases e.g. North and South Forbes Park and Bel-air 1, 2, 3, 4. Best to use Google maps to decide whch ones you are really considering.
    7. Lot type 
      1. Corner lots as the name implies are lots that are at the corner if two streets - you can consider easy access to both streets and typically land value is higher for these corner lots which have the so called corner influence in the appraiser world usually for Commercial Lots.
    8. Direction - if you are into feng shui then do consider also facing direction of the door, or if you are on the practical side then note that setting sun side (facing west) is hot so more AC needed.
  4. Age of House and Lot or Vacant Lot -  consider the following
    1. You are willing to build so you want vacant lots
    2. You need  place that is already built and still livable cause it was well maintained, 
    3. You are ok with an old house for tearing down and you will rebuild
    4. You want a brand new house and lot
  5. Type of house and lot - consider type of houses you are willing to consider.
    1. Duplexes - consider a single wall that divides you from the neighbors, sound level and privacy.
    2. Bungalow - from Google "a low house, with a broad front porch, having either no upper floor or upper rooms set in the roof, typically with dormer windows.". Consider not needing additional space such as a full second floor
    3. Single Detached - a home which is free standing, Consider that this type maybe more expensive than the other types of property as you will have full ownership rights to do what you want with the improvement/house subject of course to the limitations set in the Deed of Restrictions of the subdivision. These houses may have more than 1 storey.
  6. Size - consider the following
    1. Lot Area - the size of the land/lot within you can build. Maybe advantageous to build in an area where the neighbors have already build houses since you don't have to build a wall anymore and can maximize the lot area.
    2. Floor Area - sum of the house's floor area inside each of the spaces in the house plan. There maybe differences as to what is included in floor area such as livable space vs. non-livable like a porch that is outside or cleaning area at the back. So good to clarify what is included 
  7. Shape - again if you are into feng shui typically you want a wide frontage versus back, usually people like regular shaped lots so easy for planning development
  8. Rest of details - of course provide the rest of the details.  Some of which are below. 
    1. Number of bed rooms
    2. Number of toilet and bath
    3. Number of  car garage
    4. Pool
    5. Garden
    6. Maids room
    7. Drivers room
  9. Timing - if your need is urgent you wont consider something that has a tenant in it yet unless you are an investor.
  10. Budget and total cost of ownership - provide your maximum budget so we can filter out items that are extremely outside of budget. If you rather work on a per sqm basis do specify budget per sqm. Also it is good to note the total cost of ownership cause buying a house is one thing which depending on the listing has terms and conditions on who pays the taxes and expenses and another thing is to maintain the house and ownership which includes paying monthly dues, taxes, insurance, maintenance costs to name a few.