The Grand Hamptons is a project by G & W Architects which introduced a system called Build-to-Own where homeowners can directly engage their blueprint-to-building services, cutting the middleman developer.

Now that you have received your bonus and 13th month pay, you tinker with the idea of finally putting down the initial payment for a condo unit. You are, after all, financially liquid and feel that you deserve to have a space you can call your own. You imagine yourself perched on the 20th floor, wine on hand, surveying the glittering lights of the city and tapping yourself on the shoulder for a job well done. This is life, you say, and then you take a sip.

But before you indulge with an all’s-well-scenario with your forthcoming purchase, it is important to have some fact straights: “target date of unit turnover” is a proposition, not a promise; model units are not the effortless spaces that they seem to be; and guess what, your dog will not be allowed into your condo. Just with other big-ticket items, you should do your due diligence, talk to other condo unit owners about the advantages and disadvantages of living in a high-rise, and keep in mind the following pointers that can guide on how to secure a good purchase and whether condo living is really right up your alley.

Go beyond sales pitch and marketing brochures. Something in you responds to how the condo in the block is marketed for “hip, upwardly mobile individuals” or how the real estate company is taking pains to use only ecologically sound products. Thing is, all condo units even out in the end and what will define them are their locations. Be sure that your condo’s location services your needs, such as proximity to your working place. If the condo hasn’t been built yet, what you really need to see are not glossy brochures but bulldozers and other heavy machineries cracking the ground open.

Don’t count out less popular real estate companies. Certainly, there is peace of mind that comes from buying a unit from established real estate companies. But the relatively new players, which feel that they have something to prove and are compelled to surpass expectations, may offer better deals. 878 Residencia along Libis, which I covered a couple of years back, was up in no time. An architectural company, G & W Architects, on other hand, cut the middleman developer and worked directly with homeowners through their Build-to-Own scheme. The certainty that the project will be delivered on time is more important than the glow of a big-name company.

Don’t be too crazy over amenities. Yes, the cascade on the roofdeck is cool, as well as the concierge and the sprawling landscaped garden but after some time, you will stop paying attention to them. What you should be mindful of are the security features, the support service in case the pipes or the wires get busted, the number of elevators, and other things that will make your day-to-day life so much easier.

Get to know restrictions. Now that you know what they’re offering, it’s about time that you should know what they won’t allow. Most condominiums have restrictions on letting animals of all kinds in or on modifications that you can do to the space. Asking questions about these issues will save you a lot of grief especially when you smuggle your cat inside your own studio.

Save money on furnishings. The model unit looks good and in fact even “achievable” but the unit that will be turned over is a gray box with exposed wire and plumbing, meant to dishearten any earnest condo owner. Earmark a budget for fittings and furnishings. Consult an interior designer on the best ways to maximize the space. Some developers offer fully-fitted, fully-furnished units, a concept pioneered by Century Properties. All you need to bring are your clothes.

Be financially prepared. After the downpayment, be sure you have a savings equivalent to six months of amortization to cushion you from unexpected events, such as getting hospitalized or fired from your job. This will assure you of continuous payment until you get your bearings back and that the real estate company will not have a reason to evict you from or not turn over your unit.

Think five years from now. A condo unit is generally suited for people living solo, newlywed couples, and retirees. If you’re planning to have a big family, a wife with interior design inclinations and a garage with your collection of cars, a condo unit will not service your needs. Keep in mind that after five years, the value of a condo unit invariably dips and you should ask yourself whether it makes more sense holding on to your money to save for a bungalow which has been your dream house in the first place.