Young professionals or small families planning to have a home, be it in the form of a quaint condo unit or a spacious Cebu loft condo, need to keep in mind that purchasing a property is an arduous process, one that will take a lot of time, money, and patience. 

Many factors come into view when buying a property. There is the matter of location, pricing, security, and whether the homeowner is financially prepared for the kind of responsibility that owning a home entails. 

But it doesn’t have to be complicated. With BLOQ Residences, you won’t have to worry about dealing with intricate payment schemes. 

How much does a BLOQ Residences unit cost?

True to its mission in supporting the progressively stylish lifestyle for young professionals, a BLOQ Residences unit (a unit in BLOQ Residences) can be availed for as low as PHP 2.1 million to just a little over 4.0 million. The cost depends on few factors including: 1). Location-  since BLOQ Residences is located in various locations within Cebu City, 2) Unit Type- BLOQ offers 3 models a. studio unit with an area of 22 sqm, b. loft unit starts at 38 sqm, and  c. 2 Bedroom unit which has an area of at least 42 sqm. 3) Unit Orientation- the bearings, angles and emplacement of the unit, if it is a corner one or a garden view, city view, sea view has a lot to say on BLOQ’s pricing.

To give you an idea, a studio unit which costs PHP 2,100,000.00 will have an equity of only PHP 10,000.00 per month. The loft unit which costs PHP 3,800,000.00 will have PHP 15,000.00 monthly equity. A 2-bedroom unit at  PHP 4,200,000.00 will have a monthly equity of PHP 20,000.00.

Take into account that purchasing during the pre-selling period is cheaper than getting a ready-for-occupancy (RFO) unit.

What are the payment options and how long do I need to pay?

Payment options could slightly vary from one project type to another.  For instance, the pre-selling projects located in Sikatuna and Lahug, wherein the straight monthly equity scheme is the only payment option available. The equity amount will depend on the time frame before the estimated turnover period and will vary on the factors mentioned earlier. 

The BLOQ Residences Sikatuna 2 is targeted to have its turnover by 2022 with an equity period of thirty months and BLOQ Residences’ 25-story building in Lahug is projected to have a turnover in 2024 with a sixty-month equity period. As for how long you need to pay after the equity, it would depend on the loan term that you have acquired for the amortization. Options may include paying the loan in a span of five years or up to thirty years.

What fees and expenses should I prepare for?

Like in many other home purchases, the things that you need to keep in mind when scoring your BLOQ unit may include the reservation fee, down payment/equity payable in months, and then the monthly amortization payable in years. 

Note that you need to provide PDCs to cover the monthly equity payments. As well, upon turnover, a move-in fee is required. 

How can I cover the monthly amortization?

When buying a property in the Philippines, homebuyers looking for ways to finance the monthly amortization to buy a condo or house and lot may consider applying for an SSS,  Pag-IBIG, or bank loan. 

  • Pag-IBIG 

loans now have a lower interest rate compared to previous years. Loans from Pag-IBIG act as a helping hand when financing different types of properties. 

  • Bank Loans 

Owning a BLOQ unit is also possible with the help of a housing loan borrowed from a bank, which is vastly different from those provided by government organizations. A bank loan is highly versatile and may allow you to finance upto 90% of the purchase price of a residential condominium unit.. However, requirements & rates can vary depending on the bank, employment and credit score of the person.   If you are ready to own your dream BLOQ Residences unit, simply get in touch with us and we’ll be happy to guide you every step of the way!