Overview
- Becoming a homeowner in BGC offers a lifestyle that blends luxury, convenience, and community, with Aurelia Residences providing sophisticated elegance and comfort.
- Before purchasing a premium condo in BGC, it is important to define your preferences and lifestyle needs, secure a pre-qualification letter from your bank, and research reputable developers and properties.
Over the years, BGC has become a home to various restaurants, cafes, commercial centers, top academic institutions, and healthcare facilities — this has made the condominium market in the area surge in demand, driven by the city’s dynamic growth and stability of the property market.
Living in this district means that you get to experience all these and more, however, the whole process of purchasing can be very complex. That’s why, in this article, we will guide you on purchasing a premium condominium in BGC. We’ll walk you through everything from considering your needs to navigating the legalities and securing your perfect unit.
Before diving headfirst into your condo-hunting journey, take a step back and figure out your preferences and lifestyle needs first. There is no such thing as a one-size-fits-all unit, so whether you want a three-bedroom, four-bedroom, or a penthouse, defining these will help you narrow down your search and find the perfect condo that fits you.
You can also consider factors such as location, amenities, size, and layout to create a clear picture of what you’re looking for. By defining your preferences and lifestyle needs, you’ll not only save time and energy but also increase the chances of finding a condo that truly feels like home.
Once you’re set on what you want your condo to have, the next step is to secure a pre-qualification letter from your bank. Think of this letter as your financial roadmap. It assesses your income, credit score, and overall financial health to estimate the maximum loan amount you’d be eligible for.
With this document, you’ll be able to confidently search for condos and negotiate with developers, knowing exactly what loan terms you can realistically expect. Additionally, a pre-qualification letter demonstrates to sellers that you’re a serious buyer and strengthens your offer. It’s a win-win for a smoother and more successful condo purchase.
With your pre-qualification letter in hand, you can now start researching reputable developers and their available condo properties in BGC. When it comes to this, why not start your search with one of the most reputable high-rise condominiums in the country — Aurelia Residences?
Here at Aurelia, we invite you to secure your place in a world of sophisticated elegance nestled in the heart of BGC. As a pre-selling opportunity, our limited collection of expansive residences offers a range of sizes, each featuring premium finishes and private lift lobbies for ultimate comfort and privacy. Don’t miss your chance to invest in one of these exclusive homes before they are gone.
Once you’ve identified the perfect unit that ticks all your boxes, it’s time to make a reservation. This usually involves paying a reservation fee, which acts as a deposit that takes the condo off the market and holds it for you.
The reservation fee can range from a few thousand pesos to a percentage of the total purchase price, varying per developer’s policy. At Aurelia, you can check our FAQ page for specific details on reservation fees per unit. While this secures your chosen unit and demonstrates your serious intent, it’s important to remember that it doesn’t finalize the purchase.
The reservation period typically gives you a few weeks to finalize paperwork and secure financing, ensuring a smooth transition into the next stage of becoming a homeowner.
This next step is the signing of the Sales and Purchase Agreement or SPA — the legal document that binds you and the developer in this exciting transaction. This outlines all the details of the purchase, including the agreed-upon price, payment terms, completion date, and warranties. It’s crucial to carefully review these papers, possibly with the help of a lawyer, to ensure you understand all the terms and conditions before signing.
Following the SPA signing comes the downpayment. This is typically around 20-30% of the total purchase price and signifies your firm commitment to buying the condo. Think of it as a substantial step towards making your dream a reality.
Once these papers are signed and the downpayment is made, the developer will take the condo off the market completely, and you can move forward with finalizing the purchase process with greater peace of mind.
After the SPA and the downpayment are secured, the next step is submitting a formal loan application to your bank. This is a critical part of the financing process, and it’s the route most homebuyers choose to secure their new home.
The application process typically requires you to provide various documents for verification, including your income tax returns, payslips, and bank statements. Your bank will meticulously assess your financial health and creditworthiness to determine the loan amount you qualify for and the corresponding interest rate.
Remember, the pre-qualification letter you obtained earlier serves as a valuable estimate, but the final loan amount and terms might differ slightly based on the bank’s assessment. Ensure you have all the necessary documents prepared and carefully review the final loan agreement before signing on the dotted line.
With the loan approval and finalized purchase, you’re well on your way to becoming a BGC homeowner. This stage marks the successful conclusion of your journey towards acquiring your premium condo.
At this point, you’ll receive the title deed and other documents officially recognizing you as the owner. This crucial paperwork serves as legal proof of ownership and is essential for future decisions regarding your condo, whether renting it out or eventually selling it. With the title deed and ownership documents in hand, you can finally unlock the door to your dream BGC lifestyle.
BGC is undeniably one of the best districts in Taguig City with its vibrant energy, top-tier amenities, and strategic location. Purchasing a premium condominium in BGC will put you at the forefront of urban sophistication, offering a lifestyle that blends luxury, convenience, and community.
Experience the epitome of BGC living at Aurelia Residences. Our limited collection of residences boasts premium finishes and private lift lobbies, ensuring ultimate comfort and privacy. Contact us today to get started!
