This are the fees to consider when buying a Condominiums in Davao, Philippines.
1.) Move-in Fee.
Covers initial costs for utilities setup, move-in inspection, and other services. Paid before you take possession of the unit.
2.) Transfer Fees.
Check if transfer charges are already included in the price computation presented to you.
If not, factor them into your budget to avoid unexpected costs.
3.) Association Dues.
Monthly fees for the maintenance of common areas, security, and shared amenities. Usually calculated based on the size of your unit (per square meter).
4.) Real Property Tax.
Annual tax based on the property’s assessed value, payable to the local government.
5.) Insurance Fees.
This is optional but recommended for unit protection against fire, calamities, and liability risks.
If your condo is under a mortgage, this is usually included in your loan payments.
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