To be able to accumulate income is so important these days,
but to be able to grow the resources you already own is better.
Everyone who works today feels so blessed to be able to find a job that they don’t just like, but can also provide the finances they need for their family. As the pandemic take over the world and many companies were shut down, there became a scarcity of jobs. This made a lot of people try to grind extra through all the ways they may ever think. Some tried to start their own small businesses such as food, apparel, shoes, bags, and many more. Some tried to study trading stocks and cryptocurrencies which are very famous these days. Some tried a lot of different ventures and investments.
A lot of us have already been awakened by the pandemic and maybe by our own journeys in our careers that it is very important that every one of us will be taught how investments and businesses can truly help us in our everyday living. Even if you are currently working and have a stable job, we cannot change the fact that sometimes, there are miscellaneous expenses that are out of our budget. And this can really give us sleepless nights and anxieties. On the other hand, if you have something on your other plates that may be gaining income passively, you can have another room for your emergency funds and savings.
Millennials, as we know, are known to be the generation who has a lot of energy, is driven with so much passion, has a lot of time to explore, and most of the time has the most courage to take risks. That being said, we can name a lot of different millennials that in their young age can flaunt the successes that they have gained in a very short period.
But what not many of us know, is that one of the greatest ventures where we can invest is in real estate like buying properties that will surely appreciate over time.
You may think that being very young without too many savings, how one young person can even have the savings to acquire an asset as expensive as real estate properties.
It is true that real estate is one of the most expensive investments before, but not today because investing in real estate doesn’t always have to be grand like owning a hectare of land, or a high-class condominium unit in Manila or Tagaytay. It can always start small just like starting a new plate for another savings.
Investing in real estate has become a lot easier than ever to do because a lot of developers offer a financing program for people who wish to have their own place and stop renting. For some residential area investments, developers buy a very large parcel of land with plans of developing it. They will offer pre-selling options for their first set of clients that will be paying monthly downpayment or equity. The amount to be paid for this equity isn’t much most of the time because it is used for developers' marketing strategy where you can have what they are offering you for a very low price.
After paying for the equity for pre-selling options, you may have choices on how to pay the balance. Some opt to finance it with banks, while others through the country’s Home Development Mutual Fund or better known as PAG IBIG Fund. This is great news for the Millenials. These mutual funds offer 5 years as the shortest to 30 years as the longest paying period. The longer the paying period of course has higher the interest rate but their differences in rates don’t vary materially. Usually, people attempt to apply for longer years of paying such as 30 years because this offers a very low amount of monthly amortization.
If you are thinking, 30 years is too long of paying and paying, you can also consider how our money our currency works. Every year, we are experiencing inflation. Inflation is the rate of increase in prices over a given period of time. Inflation is typically a broad measure, such as the overall increase in prices or the increase in the cost of living in a country. Inflation makes your money worthless, so you'll have to spend more on the same goods and services. In short, when inflation increases, your purchasing power decreases. The rate of inflation here in our country is ranging from 3.6% to 4.2 % and could even get higher today because of the sudden price hikes that the world is experiencing. Thus, the power of our peso became lower and lower but this won’t change the contract you’ve signed as you were already paying for your monthly amortization. Your income will adjust because surely it will adjust with the inflation, but your monthly dues in your investment will stay the same. This is one of the really great points and the reason why a lot of young people are getting interested in investing in pre-selling units.
Also, if you have no plan of living in the property you are asked to invest in, you can always have the option to rent it out, especially if the place is highly commercially accessible. By renting it out, your monthly amortization dues can already be solved by the rent you can collect from your tenant. Also, you will have lesser problems in maintaining the property since there will be occupants who will maintain it for you as they live there.
Lastly, all real estate properties appreciate. With this investment, you can secure a future by passively growing your investment even while working the stable job that you currently have.
There are a lot of options and good offers you may find if you are now interested in investing in real estate. This option also applies to condominium units are commercial units. You only need to look for it a click away with your devices and look for the specifications that best suit your interest.
If you are thinking of moving into a new condominium, check out Vista Residences!
Vista Residences is the condominium arm of the country’s largest homebuilder, Vista Land & Lifescapes, Inc. that offers ready for occupancy and pre-selling condominium projects in Manila, Makati, Mandaluyong, Quezon City, Ortigas, Baguio, Cebu, and CDO that are strategically located within major cities, in close proximity to premium universities, transit-oriented locations, and developed business districts.
For more information on Vista Residences, email [email protected], follow @VistaResidencesOfficial on Facebook, Twitter, Instagram, and YouTube, or call the Marketing Office at 0999 886 4262 / 0917 582 5167.