Buying your first home is an exciting step, but it can also feel confusing and overwhelming. If you’re a first-time buyer looking for a good place to start, preselling condos in Bonifacio Global City (BGC) might be the perfect option. BGC is one of Metro Manila’s fastest-growing neighborhoods, known for its great location, modern lifestyle, and strong potential for property value growth. This article will explain why buying a preselling condo in BGC is a smart move for new buyers.

What Are Preselling Condos?

Buying Before the Building Is Finished

Preselling refers to purchasing a condo unit prior to building completion. Ordinarily, the building will still be under construction when you purchase. Two to four years is the average time for completion of the construction project.

The good news is that you don't have to pay the entire price upfront. Instead, you can make payments in installments during the building phase. Most often, you begin with an initial down payment of around 10% of the entire price. After that, you pay every month or every three months until the building is finished. When the condo is complete, you typically make the balance using a bank loan or cash.

Why Buy Early?

Purchasing ahead has numerous benefits. The most obvious one is the price. Condos being pre-sold typically range from 30% to 50% cheaper than already completed units. This helps first-time buyers easily own a unit in a desirable location such as BGC.

Another advantage is that you can usually select your unit's configuration, floor level, and even finishes such as flooring or paint color. This allows you to make your new house suit your style and needs.

Why Choose BGC?

A Great Location

BGC is one of the most populous suburbs of Metro Manila. It is a business hub where several major corporations have branches. It is also near shopping malls, schools, hospitals, restaurants, and parks.

It's easy to get around since BGC is directly linked to major thoroughfares such as C-5 and EDSA. It is also close to other business districts like Ortigas and Makati. New transport projects are being constructed to make the ride even quicker and more convenient.

Modern Lifestyle and Amenities

Lying in BGC is to have the luxury of living a modern and comfortable life. The condos in this place frequently come with facilities such as swimming pools, gyms, gardens, and shared office spaces. These are placed to accommodate young professionals, families, and even those who work from home.

Financial Benefits of Preselling Condos

Lower Upfront Costs and Flexible Payments

One of the largest hurdles facing first-time homebuyers is finding enough cash to purchase a home. Preselling condos assists with this by allowing you to pay in small increments over a period of time.

For instance, you can make a 10% down payment and then have monthly payments spread over the two or three years it will take to construct the condo. This enables you to avoid setting aside a big amount of money at once. Once the condo is complete, you can use a bank loan to cover the outstanding amount.

Potential to Make a Profit

Buying early usually means paying less. Because BGC is a popular area, property prices tend to go up over time. For example, a condo bought for ₱12 million during the preselling phase might be worth around ₱16 million after a few years. This means you could earn a good profit if you decide to sell later.

What’s Happening in the Market Now?

Real Estate Is Bouncing Back

Even with the challenges caused by COVID-19, the real estate market in Metro Manila is getting stronger. In places like BGC, more people are buying condos again. Developers are offering promos and flexible payment plans to attract buyers.

Living Near Transit Hubs

Another trend is the rise of transit-oriented developments. These are condos built near public transportation like train stations or bus stops. Living near transit makes commuting easier and helps avoid traffic jams.

BGC and nearby areas are seeing new transit projects that will improve access. This makes preselling condos in these locations even more attractive because they offer both convenience and good investment potential.

Things First-Time Buyers Should Keep in Mind

Watch Out for Possible Risks

While preselling condos have many benefits, there are some risks. Construction might take longer than expected, which can delay when you can move in. Not every developer has the same reputation, either. Some might experience delays or quality problems.

Tips for a Smart Purchase

Research the Developer and Project

Look for developers who have successfully finished projects on time and with good quality.  

Understand the Payment Plan

Know how much you need to pay now and later, and what financing options are available.  

Visit Model Units

If possible, see sample units to get a feel of the space and finishes.  

Ask Questions

Don’t hesitate to ask about amenities, security, and the timeline for completion.  

Get Help

Consider working with a trusted real estate agent or lawyer to review contracts and guide you through the process.

Key Takeaway

For first-time buyers, a preselling condo in BGC offers a great way to own a home in a prime location without needing a large amount of money upfront. With flexible payments, modern amenities, and strong chances for price growth, these condos are a smart investment.

However, it’s important to be careful. Do your research, understand the terms, and choose a reliable developer. By taking these steps, you can enjoy the benefits of living in one of Metro Manila’s most exciting neighborhoods while building your future wealth.