Like many Filipinos, I often dreamt of owning my own house or condo—a space I could truly call my own. Back in 2018, that dream became a reality when I bought a tiny preselling studio unit in Cainta, Rizal. At the time, our little family of three—my husband, our then-two-year-old daughter, and me—didn’t need much space, so the studio felt like a milestone, a little slice of independence.
Photo: Unsplash
Fast forward to 2025, and our family has grown to five. With three growing girls, space has become a real priority. As a mom, I want them to live in a home that not only gives them room to grow but also provides proper amenities and a comfortable lifestyle.
That’s what led me to reserve a two-bedroom condo in Pasig City, upgrading for our next chapter.
But as I shared my plans with friends while signing the reservation papers this October and starting the monthly down payment in November, a question kept coming up in our conversations: “Is it really worth buying property in Metro Manila right now?”
My condo buying experience
The process went surprisingly smoothly. Having worked with this developer when they were a client in my advertising days gave me a bit of insider knowledge that definitely helped.
Choosing the unit
I chose a two-bedroom reopened unit that had never been lived in. Reopened units are usually endorsed to agents when a buyer backs out. These units are often priced lower than pre-selling rates, especially in sold-out developments. I found it through a property advisor’s ad, but buyers need to do their own due diligence. For my family, this move wasn’t about flipping the property for profit—it was about end-use comfort and convenience.
Financing your condo: banks, in-house, and Pag-IBIG
When it comes to paying for a condo, buyers have a few options: bank loans, in-house financing from the developer, or Pag-IBIG. Each comes with different payment terms and conditions:
-
Bank loans – Typically offer shorter repayment periods, often up to 20 years, depending on your eligibility and the property.
-
In-house financing – Some developers allow you to pay them directly over a few years. Terms are usually shorter than bank loans, but the process can be simpler.
-
Pag-IBIG financing – Can offer repayment terms of up to 30 years, which helps lower monthly payments. However, not all condos or housing projects qualify for Pag-IBIG financing, so it’s important to check before planning your budget.
Photo: Freepik
In most cases, you’ll first need to complete an equity or down payment period, which can range from 10% to 20% of the total unit price, spread over several months or years. This is followed by your bank or Pag-IBIG loan, which covers the remaining balance and is paid off in smaller monthly installments.
Understanding your options early can help you choose the right plan for your family’s finances and avoid surprises later.
Extra costs to budget for
I’ll be financing the unit with a bank loan, a common option for buyers who want to spread payments over time. Even though the process felt familiar to me, there are a few things many buyers don’t anticipate:
-
Association fees – Monthly dues paid to maintain the building’s common areas, amenities, and security. This ensures everything from the lobby to the pool stays in good shape.
-
Real property taxes – Annual taxes imposed by the local government based on your property’s assessed value.
-
Closing fees – One-time costs that cover things like title transfer, documentary stamps, notarial fees, and other administrative charges when the property officially becomes yours.
These extra costs can add up quickly, so my main tip is simple: do your due diligence before signing anything. Knowing what to expect can save a lot of stress (and surprise bills) down the road.
Observations about the market
Buying property today feels different from a few years ago. Prices have been steadily rising, but so has rent. For many families, buying a condo can be more cost-effective than renting, especially if you plan to stay for several years. Pre-selling units are still available, but reopened or brand-new resale units can offer a balance of affordability and convenience as long as you’re prepared to move fast and have your financing lined up.
The market is nuanced: what works for singles or couples may not work for growing families, and vice versa.
So is it worth it?
For me, the decision comes down to lifestyle and priorities. Owning a home provides stability and security; no more rent hikes or uncertain renewals. Every monthly payment goes toward something I actually own, and I can customize the space to fit my family’s needs.
Ownership, however, ties you down. Unlike renting, you can’t easily relocate if your job or lifestyle changes. Association dues, property taxes, and maintenance are ongoing responsibilities. And while property generally appreciates, there are no guarantees in the market.
Photo: Unsplash
Families like mine benefit from upgrading to a functional two-bedroom—the space, amenities, and long-term stability make it worthwhile. But single people or couples without children may prefer the flexibility of renting. There’s nothing wrong with renting; it’s simply a different lifestyle choice.
Lessons for prospective buyers
Do your homework, think long-term, consider your lifestyle needs, and be ready for the responsibilities of ownership. The reward is having a comfortable, stable space where your family can grow. That peace of mind alone makes the move worth it.
My take on buying property
Buying property in Metro Manila today isn’t a one-size-fits-all decision. The key is aligning your purchase with your goals, lifestyle, and readiness.
For my family, upgrading from a cramped studio to a two-bedroom condo in Pasig was worth it. For others, renting may still be the smarter choice.
At the end of the day, owning a condo isn’t just about square meters or amenities. It’s about building a home that truly works for your life—and that, for me, is priceless.
ALSO READ: 33rd National Developers Convention to Tackle Housing Solutions for Filipino Families
What are your thoughts on this? Let us know in the comments.
Do you have a story for the WhenInManila.com Team? Email us at wheninmanila@gmail.com or send us a direct message at WhenInManila.com’s Facebook Page. Interact with the team and join the WhenInManila.com community at WIM Squad, and join our Viber group to stay updated with the latest around the Philippines and beyond!
