A Guide to the Whys and Hows of Condo Renovation
Gazing through the moonshine tinted casement windows of your condominium situated at the heart of the ever busy and bustling city of Makati, you heave a placid sigh of relief after a day’s hard work. As the luminescent shadows of the moon cascade against your sheer cream curtains, you are bewitched to stare at this sublime astronomical body; but as you are opening your creaky windows, the hinges got stuck and all the frustrations and stress from work came rushing back. Perhaps more than staring at the night sky, condo renovation is what your subconscious-self craves for. Investing in bedroom and kitchen remodeling is actually a therapeutic activity to release the toxic thoughts and negative energy.
WHY INVEST IN CONDO RENOVATION?
Venturing into the property market is also a wise investment as local condominium sales continue to rise along with the bullish performance of the country’s overall economy. According to Philippine Statistics Authority (PSA), the Philippine economy grew by 6 percent during the second quarter of 2018 and Construction emerges as one of the main drivers of this data with 13.5 percent. On the one hand, Real Estate and Renting contributed around 3.7 percent headed by Ownership of Dwellings accelerating from 2.9 percent in the same quarter of previous year to 3.2 percent this year.
"Philippine economy grew by 6 percent during the second quarter of 2018... Real Estate and Renting contributed around 3.7 percent."
Since residential properties in the Philippines are relatively cheaper than the ones abroad, investor demands in the residential condominium sector is expanding at a faster pace and prices have risen with luxury residential posting the highest at 28 percent year-on-year, real estate consulting firm Santos Knight Frank (SKF) reports. From the 22 units stated in the previous quarter, overall monthly take-up in Metro Manila mounted to 27 units this quarter.
Central business districts (CBDs) in Taguig City and Makati City headed the Residential Condominium Sales Market with 94.1 percent and 94.7 percent units sold respectively during the first quarter of this year as issued by KSF. On top of that, before the end of 2018, an astounding 52,000 residential units are slated for turnover.
"Condo renovation also posted an increase during the second half of this year... a total of 40,182 are submitted this 2018 reflecting an increase of 11.7 percent. "
Condo renovation also posted an increase during the second half of this year based on the construction statistics from approved building permits released by PSA. From the 35,983 constructions recorded by the same quarter in 2017, a total of 40,182 are submitted this 2018 reflecting an increase of 11.7 percent. This year’s data on residential building constructions which encompasses: condo renovation (40%), apartment (53%) and single-type houses (4%) attained 29,060 or an 8.3 percent increment from the 26,827 projects covered last year.
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HOW CONDO RENOVATION WORKS
Revamping your place either for the purpose of increasing its property value for future investments or mainly for your own comfort and preference nevertheless can be an overwhelming journey. Tokyo Grand Renovation, a Japanese build and design firm in Makati, has prepared a list to alleviate the hassle and struggles of remodeling your condominium.
"Revamping your place can be an overwhelming journey."
Ask permission from the admin
Before contacting interior designers or contractors for appointments in refurbishing your condominium, requesting for the approval of the building administration should be your initial step in condo renovation. Discussing with the building authorities concerning your desire for a bedroom and kitchen remodeling is a crucial step in determining certain limitations which shall be implemented in the final floor plan. Restrictions include but not limited to: allowable electrical load per unit, authorized hours for carpenters and contractors on your unit, and the materials that can be transported via elevator or building premises.
Obtain and submit the necessary documents
Chapter 3 Section 301 of the National Building Code of the Philippines declares that any form of alteration, repair and the like on any structure requires a building permit to be obtained from the Building Official assigned in the place. Apart from this building permit, condo renovation also demands a construction bond to be deposited to the building administrator which shall be returned upon completion of the project. If you intend to maximize your space and perform a major bedroom and kitchen remodeling, submitting architectural and engineering drawings with signatures of the licensed professionals will also be subjected for review and approval by the building admin.
Consult with contractors and seek professional assistance
Although the idea of a do-it-yourself condo renovation sounds appealing and liberating from the restrictions of hiring interior designers, architects and contractors to guide you in picking the right interior style and materials for your bedroom and kitchen remodeling; seeking the assistance of these professionals will reduce the pressure of juggling the tedious tasks of producing designs and locating superior materials. This also minimizes the possibility of committing grave repercussions to the output since you preemptively measures the scope of the project which also benefits you by meeting your intended average cost.
Interior renovation tips to inspire you
If you envision your condo renovation to be extravagant, perhaps you should also consider the bits and pieces of your place that needs a little revamping or enhancing. Instead of tearing down walls, you may apply high-end wallpapers or alter the color scheme your home decors based on some interior trends of this year. Improving the lighting of your dining area or installing smart home technology such as a Japanese toilet seat for the sake of functionality over aesthetics are also sleek bedroom and kitchen remodeling ideas. Adding ample storage to maximize the limited space of your unit is also an edge to attract possible clients of your condominium.
Thinking of refurbishing your condominium but the inconvenience of the process puts you off?
Tokyo Grand Renovation (TGR) is eager to help you discuss your interior design ideas. Conveniently located in the leading business district in Metro Manila, TGR’s headquarters is at 9110 La Campana St. cor. Trabajo St., Brgy. Olympia, Makati City, 1207.
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