Is investing in a condo in Manila a good investment? What are the pros and cons? Condominiums are a great investment if you have some critical factors on your side. There are different areas before you consider a property a good investment.
You can meet people who have become rich from investing in condominiums while others are struggling with debt and unable to sell their units because of a bad investment decision.
So, to answer the question - is investing in a condo in Manila a good investment? Yes, it is possible to make a good investment from real estate but there are factors that you should consider before you dive in.
Let us look at these areas to help you come up with an informed decision.
A long-term vision for the investment
Before you even answer the question of whether investing in a condo in Manila is good or bad, you have to take a look at your long-term vision for this investment. Are you looking to rent this unit for the next couple of years? Are you planning to give this to your children? Do you see this as a retirement place? Do you plan to sell it after a couple of years?
If you have a vision of living in this unit or giving to your children, then an investment in real estate is not a bad decision since you have a second purpose for your investment.
The more purposes you have, the less likely a real estate investment will become a bad investment in an investor’s eyes. It is simply because if you are unable to rent or sell this investment, you still have it available to fulfill your other real estate investment needs.
This is important when asking if a condo in Manila is a good investment.
If your plan involves a long-term approach such as ten years or more, it is even more important to put yourself in the shoes of your future customers.
A lot of buyers nowadays do not want to buy asecond-hand or third-hand condo unit because they are thinking that the longer the condo is built, the more wear and tear issues it has. There are also a lot of options in the market.
If the condo developer is not responsible and fails to carry out checks and fixtures to the amenities, these will also suffer and decrease the appeal of your real estate investment. Thus, you have to consider the developer of the condo you are eyeing as well.
The property location
Location, location, location - this is one of the most important factors to consider in property investment. When you look into your property location, think mainly of your customers. Is there a particular market to serve?
If you are planning to buy a condo unit near business districts and schools, with a few stores nearby, and your ideal clients include young professionals and university students, for instance, then this could be a great location for investment.
Remember that when looking at a property location, try not to think only about whether it is a nice area, try to think more about what the areas would be serving your potential customers better, and what things they would find appealing, which would make them become your long term customers.
When you invest in real estate, you have to think about what city, area, or place to invest in. It is always recommended that you look into local businesses as when business commences in a specific location, this tends to bring in more workers from other areas and increase real estate prices and rental prices which will be great news for you as a real estate owner.
When looking at the advantages and disadvantages of buying a condo in Manila, it is always best to research other factors that may affect the property value such as market value, crime level, business progress, and location news to give you a bigger insight into your potential investment.
Back up plan
Real estate investment offers a lot of benefits when done right but it also has its cons that you should be aware of so you can avoid them as early as possible. Make your investment work by understanding the potential risks.
Before you invest, think about your life plans. Anything could happen to us at any time in our life so it is best to have a backup plan. Have you asked yourself, when are you getting married? Do you have plans of living abroad?
You have to think about this so that you would know what to do if these things come to fruition while you already have property.
With real estate investing, people can make very good money but there are risks too. The more you educate yourself on investments, the better you will make decisions, especially on your finances.
If you are planning on investing your money in real estate, you may want to consider investing in a Vista Residencescondominium property.
Vista Residences is the condominium arm of the country’s largest homebuilder, Vista Land & Lifescapes, Inc., which offers ready for occupancy and pre-selling condominium projects in Manila and Quezon City that is strategically located within inner-city areas, in close proximity to premium universities and developed business districts.
At Vista Residences, unit owners can take advantage of the property’s centrality. The properties of Vista Residences are strategically located near the country’s premium universities and CBDs, making them an attractive investment for both local and foreign investors.
Vista Residences has ready for occupancy condo projects in Manila such as Vista Taft, Vista Heights, Vista GL Taft, 878 Espana, and Crown Tower University Belt. It also has pre selling projects in the said area which include Vista Recto, Plumeria Heights, Tennyson Heights,Bradbury Heights, Sky Arts Manila, and Kizuna Heights.
Meanwhile, its ready for occupancy condo in Quezon City include Wil Tower, the Symphony Towers, Pine Crest, and Vista 309 Katipunan. It also has pre selling condo projects in the said city such as Hawthorne Heights and Vista Pointe.
Living in Vista Residences enables you to enjoy convenience, where everything is pretty much within walking distance or a few minutes away from the property; comfort because the project features and amenities are designed to deliver comfort at all times, which makes condo living a worthy investment; security that is 24/7 and CCTV monitoring, which makes the residents safe and secure within the property.
In line with Vista Residences’ thrust to offerconvenience among its residents, it also features an AllDay Convenience Store and Coffee Project in all its projects.
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