COVID-19 profoundly impacted human history. It taught us to rethink our priorities and prompted those of us who survived to make plans for a more stable and secure future. After the pandemic, even real estate investments, such as a condo in the Philippines, may become a more probable asset to acquire or avoid.
As we carry on living through this global pandemic, discussions on condo investing and the measured risks involved with property prospects are indeed important topics to consider.
After everything that you've spent during the community quarantine time, those of you contemplating investing in a property, particularly one aimed toward security, you've undoubtedly already pondered if it's financially possible and wise to acquire a condo.
What, however, makes investing in a condo wise choice? What are the chances of making money investing in a condo? Why should you invest in a condo this 2022?
Embraces better “new normal” living
The epidemic has prompted a global practice of staying at home and practicing wellness. That's why individuals are making significant changes to their living environments to make them a place where all of their requirements — personal, wellbeing, and work– can thrive.
Given that we're all experiencing the "new normal," finding your future home necessitates a new set of criteria. Investing in a ready-for-occupancy or pre-selling condo is a smart thing to do, especially if you're still saving and planning for a new chapter in your life. When you consider the long run, this will not only serve as a source of income but also a location where you may retire when the time comes.
Lifestyle Perks
Many highly-prized perks in condo living highlight superior and exclusive amenities and facilities. This is what distinguishes a condominium from a regular house. You're purchasing the entire package of conveniences. With special amenities like swimming pools, exercise gyms, private clubs, function halls, and even a retail center, condo projects promise luxurious and healthy condo living. If you're lucky, you might be able to discover condos with green spaces like garden parks and jogging trails, offering a lush atmosphere while living amid the city's bustling streets.
Grows in value while generating consistent cash flow
Mega infrastructures are being created left and right because of the government's Build Build Build program. As a result, investors are focusing their attention on properties in prime locations. Hence, the majority of condo buildings are strategically positioned near the city's heartland. People are often drawn to them for their exceptional accessibility, convenience, and availability- the very reason they were created for. Hence, condo value is sure to increase over time. In fact, as per the 2014 Global Property Guide, the Philippines has the sixth-largest real estate price growth, with condo unit prices increasing by 36.4% from 2010 to 2014.
You can also generate cash flow even after you use your condo. When a condo unit is rented, you are not required to pay the entire contract amount. Renting your condo unit is a great method to earn extra money while paying your monthly condo costs. Renting out condo units on Airbnb can help you save money that you can put toward your mortgage or other living expenses. Rental income is also a fantastic way to supplement your retirement income. Even when you retire from your business or employment, you'll have money pouring in.
Decreasing real estate space
As the demand for condos and related properties grows, the amount of area available for developers to build them decreases. Increased demand also impacts the cost of undeveloped land in Metro Manila's major regions. New condominium construction is being slowed by a lack of land and a rise in the price of available property.
Investing early in a new condo allows you to get the most out of it, whether you intend to live in it or sell it later. Purchasing a condo unit in 2022 will put you ahead of the other potential buyers.
Pre-selling advantage
Condominiums are marketed before the project is completed. Developers provide flexible payment methods, substantial discounts, hassle-free promos, and a cheaper selling price in the process of "preselling." Pre-selling Condos are a good investment because of these perks. For condo purchasers, purchasing a home at a lesser price now will result in big rewards in the future as its value rises. Preselling condos may be a good option if you're searching for a long-term investment with assured profits.
Affordable
Buying a condo is a more affordable option, especially if you're shopping for your first property. Buying a regular single-family house may need a larger downpayment. Condominiums are less costly and simpler to maintain. This is one of the most visible distinctions on condo ownership.
Ideal for retirement
Real estate, like every long-term investment, such as education, is a great way to save for retirement. One of the most ignored yet critical aspects of acquiring a condo in the Philippines is to keep this goal in mind.
Less maintenance and flexible living
In most houses, exterior care makes a substantial contribution to the house's total durability. Ownership of a condominium reduces this expense because the building's management is responsible for it. Owners or renters of condominium units are particularly concerned with interior upkeep, such as interior condo design, utility concerns. In addition, because there are no outside amenities, utility bills are generally lower.
The condo living space is just enough to allow you to arrange your furniture and other fixtures in an efficient manner. Condominiums provide a reasonable space for folks who desire more flexibility and wish to spend more time traveling and relaxing instead of working on home improvements.
Purchasing a condo is a terrific way to get into homeownership without having to deal with the maintenance and expensive initial downpayment that comes with regular single-family homes and townhouses. Condo owners often have access to common amenities and the condo association is responsible for building upkeep. You aren't required to reside in the unit as well. A condo may be an investment that generates constant rental revenue.
People desire to live the life they've always dreamed of: being wealthy, owning a home, security, luxurious lifestyle, and so on. However, dreams are only dreams if they are not carried out; thus, people should seize possibilities that will ensure that their goals become a reality. Condominiums are undoubtedly a wise investment. Condo investors are making a sensible move by purchasing an asset that is increasing in both value and demand. In today's world, condo living guarantees a high quality of life in a city setting—something that would provide excellent value for your money if you choose to buy a condo.
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.
