Philippine real estate industry is in a steady growth for quite some time now and Filipinos are much more active in investing their money in real estate/properties such as condominium units.
If you are one of these investors, you might wonder how in the world you’ll be able to transform that bare box unit of yours into your dream home. Here are some tips with a quick walk-through on how a condominium renovation typically materializes:
1. Handbook and Guidelines
During the scheduled unit acceptance, the homeowners are issued a handbook/compiled house rules and construction guidelines together with the unit keys. This is the perfect time to clarify any/all vague sections in the handbook, especially but not limited to the renovation procedures.
With established purpose for the unit, renovation budget and timeline, and design style or aesthetic consideration, most homeowners proceed in self-producing their floor plans and other working drawings. However, hiring an expert can be the best option if you are not keen on interior design nor dealing with the plans and permits. Collaboration is key in coming up with a well-designed personal space.
Renovation, work, and other necessary permits and bond payments are processed in the condominium administration office. This stage of the renovation process usually takes up in between a week and a month. Be aware that there is a slight difference in the permit processing of newly-accepted condominium units and of pre-occupied units.
While waiting for the permits to be approved, homeowners or the hired expert shops around to get great deals for furniture, appliances, accessories and other essential items for the condominium unit. Keep in mind that measurements are crucial when it comes to fit-out projects, so always bring with you the produced plans to verify the dimensions.
The action starts upon permit release. This stage can be messy depending on the renovation scope of works. Make sure to hire expert/s to build your space. Any mishap can cause you time, money and energy. It’s a good thing to regularly check on the status of the renovation to address any necessary alterations and adjustments.
After renovation turnover, the unit is inspected by the administration office to ensure that the build is in compliance with the plans and permits. Upon clearance from the administration office, the homeowner and/or builder can apply for bond refund which is usually released after a month.
Disclaimer: Unit turnover procedures vary from one developer to another. This article is written based on the writer’s experience renovating different condominium units for her friends and clients.