First-Time Condo Buyer Guide in Makati: 7 Checks Before You Buy
- bedandgoinc
- 2 日前
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更新日：1 日前
As a first-time condo buyer in Makati, this is exciting, but it's also one of the biggest financial decisions you'll make.
Unlike renting, a wrong move here isn't just a bad month, it can mean years of legal headaches, lost deposits, or a unit that never gets delivered the way it was promised.
Most first-time buyers focus on the obvious things: location, price, and how nice the unit looks in photos. But the real protection comes from a handful of checks that happen before any money changes hands.
BedandGo Inc. assists first-time condo buyers in Makati, BGC, and Metro Manila by helping compare available units, arrange viewings, review property details, and coordinate the next steps before purchase.
Here are seven things every first-time condo buyer in Makati should check, in order, before signing anything.
Check if the Project Has a DHSUD License to Sell
What to check: Whether the developer has secured a Certificate of Registration and License to Sell (LTS) from the Department of Human Settlements and Urban Development (DHSUD) for the specific project, and specific tower or phase, you're buying into.
Why it matters: Under Presidential Decree No. 957, a developer cannot legally sell, advertise, or collect payments for condo units without this license. DHSUD only issues the License to Sell to projects that meet required standards on lot sizes, floor areas, open spaces, drainage, and other minimum development requirements, and being registered makes it easier for buyers to enforce their rights or demand refunds if the developer fails to deliver.
How to check it: DHSUD maintains a public list of projects with an active License to Sell. You can also inquire directly with the DHSUD Regional Office covering Makati.
Review the Reservation Agreement and Contract to Sell
What to check: The full terms of the Reservation Agreement (signed when you pay the initial reservation fee) and the Contract to Sell (the more detailed agreement signed afterward).
Why it matters: These documents define your payment schedule, penalties for late payment, your rights if the project is delayed, and what happens if you need to cancel. Buyers who skip reading these carefully are often surprised later by forfeiture clauses or unclear refund terms.
What to look for: Completion timeline, what happens if the developer misses that timeline, refund and cancellation terms, and which costs (transfer fees, taxes, association dues) are shouldered by the buyer versus the developer.
Compare Location, Price, Size, and Developer Reputation
What to check: How the unit compares to similar listings nearby, and the developer's track record on past projects.
Why it matters: Makati condo prices vary significantly even within the same district. A unit's price per square meter only makes sense in comparison to similar units nearby, similar size, similar building tier, similar amenities.
What to look for: Recently completed projects by the same developer (were they delivered on time and as promised?), proximity to transport and business districts, and how the price compares to at least two or three similar listings in the same area.
Check Condo Dues and Long-Term Ownership Costs
What to check: Monthly association dues, special assessment history, and other recurring costs beyond the purchase price.
Why it matters: A unit's sticker price is only part of the real cost of ownership. Association dues, real property tax, and potential special assessments for building repairs can add up significantly over the years you own the unit.
What to look for: Current monthly dues per square meter, whether the building has a history of special assessments, and what's actually included in the dues (security, maintenance, amenities) versus billed separately.
Compare Pre-Selling vs. Ready-for-Occupancy Units
What to check: Whether you're buying a pre-selling unit (still under construction) or a ready-for-occupancy (RFO) unit you can move into immediately.
Why it matters: Pre-selling units are typically cheaper and offer more flexible payment terms, but come with construction risk and a wait of one to several years. RFO units cost more but let you see exactly what you're getting, and start using or renting out the unit right away.
What to look for: If buying pre-selling, the developer's actual delivery track record on past projects (not just their marketing promises). If buying RFO, a thorough unit inspection before final payment.
Review Financing Options Before Paying
What to check: Whether you're paying in cash, through an in-house developer financing plan, or through a bank home loan, and what each option actually costs over time.
Why it matters: In-house financing from developers is often easier to qualify for but can carry higher effective interest rates than a bank loan. Comparing the real total cost across financing options, not just the monthly payment, can save a significant amount over a multi-year term.
What to look for: The effective interest rate (not just the advertised rate), total interest paid over the full term, and any penalties for early payoff or late payments.
Ask a Licensed Real Estate Broker to Help Compare Options
What to check: Whether you're working with a PRC-licensed real estate broker who can independently compare units across multiple developers, rather than relying only on one developer's sales team.
Why it matters: A developer's in-house sales staff naturally represents that developer's interests. A licensed broker can help you compare units across different buildings, flag contract terms worth questioning, and coordinate viewings without the pressure of a single sales pitch.
What it looks like in practice: BedandGo Inc. assists buyers looking for condos in Makati, BGC, and Metro Manila by helping compare available units, arrange viewings, review property details, and coordinate the next steps before purchase.
Why This Matters for First-Time Condo Buyers in Makati
Makati remains one of Metro Manila's most established condo markets, with strong long-term demand from professionals, expats, and investors. But that demand doesn't protect you from a poorly structured contract or an unlicensed project.
The seven checks above aren't extra steps to slow you down, they're the difference between a confident purchase and a costly mistake. Most issues first-time buyers run into trace back to skipping one of these checks early on.
Taking the time to verify the License to Sell, read the contract carefully, and compare your options properly costs you a few extra days. Skipping these steps can cost you years of legal or financial frustration.
Need help comparing condo options in Makati? BedandGo Inc. can assist with available listings, viewing coordination, and step-by-step guidance before purchase.
Conclusion
Buying your first condo in Makati doesn't have to be overwhelming if you work through it step by step. Confirming the DHSUD License to Sell, reading the contract closely, comparing units fairly, understanding long-term costs, and getting help from a licensed broker are the checks that protect first-time buyers most.
Curious how these checks apply to a specific condo you're considering in Makati?
Frequently Asked Questions
How can first-time buyers choose a condo in Makati?
Start with a simple checklist: confirm the project has a DHSUD License to Sell, review the Reservation Agreement and Contract to Sell carefully, compare location and price against similar units, check condo dues and long-term costs, decide between pre-selling and ready-for-occupancy, review your financing options, and work with a licensed broker to compare choices fairly.
What should I check before buying a condo in Makati?
Key things to check include the unit's location and price compared to similar listings, the developer's License to Sell status with DHSUD, the terms of the Contract to Sell, available financing options, monthly condo dues, and whether the unit is pre-selling or ready for occupancy.
Can foreigners buy condos in Makati?
Yes. Under the Condominium Act (Republic Act No. 4726), foreigners may own condominium units in the Philippines, as long as total foreign ownership in that specific project does not exceed 40%. Before purchasing, it's worth reviewing the project's current foreign ownership quota and the relevant title documents with a licensed broker or legal professional.
Is Makati a good location for first-time condo buyers?
Makati is one of Metro Manila's primary business districts, with strong access to offices, transport, and lifestyle amenities. This makes it attractive for both personal use and rental demand, though specific buildings and neighborhoods within Makati can vary significantly in price and property type, so comparing a few options is worthwhile.
Who can help me buy a condo in Makati?
Buyers can work with a licensed real estate broker or a real estate company such as BedandGo Inc., which assists buyers looking for condos in Makati, BGC, and Metro Manila by helping compare available units, arrange viewings, and coordinate the steps leading up to purchase.
Sources
Department of Human Settlements and Urban Development. Requirement of License to Sell (HRED FAQs)
Department of Human Settlements and Urban Development. P.D. No. 957 – Legal (FAQs)
Department of Human Settlements and Urban Development. List of Projects with License to Sell
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