7 Reasons To Invest in a Condo

Annika — Sun, 23 Aug 2020 03:40:57 +0000

You’re probably looking for a good opportunity to make the most out of your investment. Perhaps, some of you are planning to put up a small business, while others are thinking about investing in a condominium. Either way, it’s a good start. But when you talk about making a wise decision, buying a condo is on the advantage side. Real estate in the Philippines is a solid growing investment in recent years. With its steady growth, more and more homebuyers are into the investment.

Although homebuyers may go through a lot of work to make sure they get the best they can have, buying a condo is worth your time, effort and most especially your money. Moreover, condominiums nowadays are highly practical and can be your safest bet when it comes to investments. To give you an idea, we list down some advantages and reasons as to why you should invest in a condo and grab this opportunity.

Reason #1: A Condo is an Investment

Did you know that buying a condo alone is already an investment to make? It does not matter if you plan to rent it out or live in it, condo buying is one of the most popular and successful investment one can make. Of course, you do not have to think hard about the things you need to do to achieve your goal. As the years passes, the value of the condo unit or property increases. That only means, whatever you do with your condo unit, it is still your gain.

Reason #2: Condos Do Not Require Upkeep

This is also one of the reasons as to why many homebuyers want to invest in a condo unit – they do not require maintenance. That means, for those homeowners who are not a fan of mowing their yard, pulling weeds, repainting the house, or doing hassle chores, especially when you do not have enough time to do all these things, then buying a condo is suitable for you.

Reason #3: You Can Take Advantage of the Amenities

Apart from the fact that condos do not require upkeep, homeowners are also able to enjoy the amenities. The moment you buy a condo, you also get to buy the rights to some amenities to condo have. Homeowners do not need to go far just to go to the gym or swimming pool since you already have access to the pool, an on-ground gym, and more.

Reason #4: You Have More Space

Condominiums like Amara offer bigger spaces than any other properties. Condos are also best especially when you have a big family to live with you. That means you get to have your own private space without worrying about the traffic flow in your home. In fact, homebuyers get to choose a particular size for their home. Moreover, if you want more, then condos can have some pretty good deals for you to avail.

Reason #5: There is a Sense of Community

Buying a condo unit does not just end up with your new home, you can also gain a lot of friends through socializing with your neighbors. Perhaps, you can make some good friends through participating in the community’s Homeowners Association (HOA). With this, you can get to appreciate being a part of a group making the community even better while getting to know your neighbors.

Reason #6: Condos in Key Cities Have High Resale Value

If you have plans to go for a buy and sell a property, then invest in a condo. Condos especially that are located in the major cities have higher resale value than any other types of properties. As time passes, the value of a condo unit rises with inflation, the improvements of the building, and the overall appeal of the condo. All these advantages of owning a property make it more valuable than the others. Moreover, condominiums have a competitive market. That means, it is not hard to find a buyer whenever you want to sell the unit.

Reason #7: Condo Units are Easily Transferable

Investing in a condo unit is one of the most particular ways to transfer wealth. For most parents, they find it hassle free and practical for their children. Since most condos are located in a prime location, it would be easier for them to go to school or workplace. Moreover, parents find condos convenient and safe than any other apartments.

Whether you realize it or not, there are many reasons as to why condos are one of the best investments you can make for your future. Although some of you might not realize it yet, eventually, you will realize how condo investment makes a great impact on your life. Do not waste your time thinking too hard whether buying a condo is worth it or not, because it is worth it!

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Investment 101: 4 Ways in Getting Your Money’s Worth in Philippine Real Estate Investment

Annika — Wed, 24 Jun 2020 08:13:36 +0000

“Real estate investing even on a very small scale, remains a tried and true means of building an individual’s cash flow and wealth.” –Robert Kiyosaki

As it has been famously said, the best investment on earth is earth and landlords are the only investors capable of growing wealth in their sleep. With this in consideration, it is no surprise that real estate remains to be one of those investments in life which would guarantee you a semblance of security. However, novices would find the prospect of home investment daunting most especially if they do not know what to expect.

When you are shelling out your life’s savings or years and years’ worth of income, a modicum of fear is normal—expected even. But, this little frisson of fear should not deter you from making a useful investment. What you can do instead is to arm yourself with knowledge as to how to truly get your money’s worth when you are investing. Here are a few practical tips to assist you with that.

1. Do plan your financial goals

Have a realistic view of your expectations on your prospective investments. What kind of pecuniary goals do you have? Have a good understanding of what your goals are and make sure each of your investments is a step towards achieving them. Once you have a clear picture of what you do want, then you may proceed.

2. Do look at a lot of properties

When you are spending quite a fraction of your life’s savings, it is imperative that you have a myriad of options to choose from. Do not simply settle on the first property you see, venture out and do not buy properties simply for their aesthetic appeal. Be thorough in your scrutiny and make sure you do want the property to save yourself from buyer’s remorse later on.

3. Do not procrastinate in commencing an investment program just because you are waiting for a unicorn deal.

Ideally, before buying real estate, most of us would already know what we are looking for. But regardless of whether this may be a house and lot in Angeles or a condominium unit in Amaialand, one should not keep on waiting around the bush for that best (albeit, nonexistent in most cases) deal. Do not let your choices be dictated by the belief that you might just find a better deal right around the corner if you wait. This can backfire because you might just let a great deal slip in your efforts of finding an “even better” deal. Execute on a realistic deal that meets most of your criteria than hold out for a nonexistent one.

4. Do a thorough financial analysis

Before signing a deal, it is important to have a lot of alternatives in order to determine which one is the most financially sound. Never buy property which at a higher price than offered or on less attractive terms than what your analysis yielded. Do your research and ask the assistance of an expert and lastly, be wary of sellers that try to overestimate the value of their properties through an estimated data.

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Five Tips for Condo Buying Success in the Philippines

Annika — Wed, 28 Sep 2016 03:32:03 +0000

There are a few perks to being enjoyed when one is living in the Philippines. The warm tropical climate, the friendly locals and most notably, the low cost of living—these are just some of the things one can enjoy when one chooses to reside in the country. In fact, these are just some of the things that anyone who wishes to own a condo in the Philippines can enjoy.

Real estate in the Philippines has experienced considerable growth in the recent years, and this may be attributed to the perks listed above. Admittedly, there is a wide range of real estate properties to choose from in the Philippines—from the lush and towering condos of Metro Manila to the affordable condos in Bacolod. Considering there is a multitude of choices to choose from, Filipinos and foreigners alike are getting into the trend of buying a condo.

However, before jumping on the bandwagon, it is imperative to be aware of factors that would ultimately contribute to the success of your investment. More often than not, your choice should invariably depend on your lifestyle and selection preferences, but apart from these, there are many other various factors that would need your careful consideration in order to aid you in making the best decision.

1. Checking in for a home loan

Indulging in condo living would mean you have to be prepared for an incoming stream of imminent expenses you would soon be facing. Admittedly, one of the things you should look out for when purchasing a condo is the affordability but should your savings not be enough to cover the costs; you should not negate the possibility of owning one. Check if you are eligible to get a home loan from PAG-IBIG or a bank. If you are, then apply for it and start the process of owning the condo of your dreams.

2. See if you fit in

In a sense, living in a condo is akin to communal living. More often than not, the only thing separating you from your neighbors is a wall, so it is imperative that you get along. Before deciding on a condo unit, survey your surroundings first and observe the inhabitants. Do you see yourself potentially connecting with these people? Do you think you would fit in nicely? Consider these questions first as it would save you from the hassle of feeling like an outsider once you have settled into the neighborhood.

3. An excellent service

An imperative characteristic a condominium must have is an excellent service. Before deciding, you should be aware of your potential condo administration’s reputation. Talk to the residents and listen to what they have to say. Alternatively, you may want to pay close attention to the message board and see what the majority of the feedback is like. Weigh your options and see if the condo has a good admin. After all, you would not want to live in a condo with bad admin services.

4. Reasonable maintenance and association fees

If you had to apply for a housing loan in buying your condo, chances are you would not want to contend with exorbitant maintenance and membership fees. These fees should be reasonable, and you should be wary of condo developers who wish to charge you higher than those you can reasonably expect.

5. A space for your car

One erroneous belief most prospective condo buyers would have is that the unit and the parking space is a package deal. Unfortunately, this is not the case. The parking lot itself is another cost on top of what you pay for the unit, and if you do own a car, this can be a hassle. If you can afford to the parking lot, then, by all means, get it (Note: every condo has a limited number of parking spaces.), if the price is too steep, then a good alternative is to rent it. A simple inquiry to the office would give you the information you need as regards who is renting out their unused parking lots or if the condominium offers some parking lot spaces for rent to be paid for every month.

Source: affordable condos in Bacolod

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