Generating wealth starts with good money habits. Nevertheless, your savings will not be enough to get you through in life. Instead, let your money do the work for you through investments. Investment property may have crossed your mind as developments continue to rise today. If you are looking at condominiums as a viable investment, that would be a good start. However, what makes condo investment a smart choice? Can it guarantee high returns? Does it differ from owning a regular house instead? Can it be applied through bank financing? Here are 10 reasons why Condominiums are a wise investment.
1. High Demand Due to Urbanization
Thanks to the Governments Build Build Build Program, mega infrastructures are being built left and right. As a result, investors are eyeing on properties with the best location. In line with this, most condo buildings are strategically located at the heart of the city. People are often attracted to its extreme accessibility, convenience, and availability because that is what condo unit are originally designed for! Who would not dream of waking up in a building with the best security, stunning city views, walking distance to business hubs, and everything within reach?
2. Strategic Location
Condo buildings are strategically located within commercial districts of the city to give off that contemporary living that the ever-growing and evolving market demands. The rapid growth of urbanization is no longer an exclusivity in the Metro but also within the outskirts of Manila. Nearby provinces such as Cavite and Laguna have been booming with infrastructure developments, business hubs, industrial zones, and the likes. As a result, the demand for residential units in cities generated by young professionals, families, retirees, and expatriates only continues to rise.
3. Income Generating
You do not need to pay the whole total contract price of a condominium when you have the unit rented. Having your unit rented is an excellent way to generate passive income and pay for your monthly condo fees. Renting out your condominium unit to a transient on Airbnb can give you some extra cash that you can then put towards your mortgage. Such profits from investing in rental properties can help you pay down your housing loan sooner, or save for a down payment if you don’t own a home of your own yet. Rental income is a great source of extra income to add to your retirement plan. You’ll have money coming in even after you retire from your business or job
4. Lifestyle Perks
Superior and exclusive amenities are the top choice of many sought-after perks in condominiums.
This is what separates owning a regular house from owning a condominium. You are buying the whole convenience package. Condominium developments ensure to guarantee a luxurious and healthy lifestyle with exclusive facilities such as swimming pools, fitness gyms, clubhouses, function halls, and even a shopping center. If you are lucky, maybe you will also get to find condominiums providing green spaces such as garden parks and jogging paths, giving that verdant setting despite living in the busy streets of the city.
5. Minimal Upkeep
Living in a standard family house bare the numerous responsibilities of cleaning and maintaining it. As for condominiums, very little maintenance is required. Your household responsibilities are limited to maintaining the interior of your condominium unit. Concerns regarding the exterior, open spaces, and other maintenance are already covered in exchange for condo dues. Hence, you never have to worry about mowing the yard or sweeping the gutter.
6. Flexible Living
The living space within your condominium unit is just enough to provide you with an efficient arrangement of the furniture and other fixtures in your unit. In these modern times, minimalistic styles are the most popular trends. This manageable space in condominiums is perfect for people who seek freedom and want to spend more time traveling rather than working on some house improvements.
7. Tangible Asset
Basically, tangible assets are physical things that hold intrinsic value. Unlike intangible forms of investments such as stocks, a volatile market puts you at higher risks. A market crash could possibly drop the value of your investment to zero. Meanwhile, condo investing is a tangible assets and will always be worth more as their market value increases with time.
8. Preselling Advantage
Luckily, condominiums can be made more affordable since they are marketed before the project completion. The term is called “preselling” wherein developers offer flexible payment schemes, huge discounts, hassle-free promos, and a lower selling price. These incentives make condominiums an attractive investment. For condo buyers, availing a condominium property at a lower price indicates significant returns in the years to come as its value appreciates. If you are looking for a long-term investment with guaranteed returns, you might want to consider preselling condominiums.
9. High Resale Value
The 2014 Global Property Guide confirms that condominium prices in the Philippines have increased up to 36.4% based on their 2010 to 2014 data. This actively demonstrates that you can acquire a preselling condominium property at its lowest price during the pre-selling stage and just watch your investment grow without even lifting a muscle! As a result, condo ownership generally provide a huge opportunity to generate money if you are not planning to keep them for long. Moreover, condos are high in demand due to their location and exclusive perks, selling them would be too easy.
10. Retirement Home
Condominiums are a great place to spend your golden years especially if you want to age in place. Given that old age will inevitably start to kick in, you can still achieve the independent living experience as condos avoid endless maintenance problems and other issues related to owning single family homes. While condo owners get to enjoy the range of activities in an exclusive community your condominium offers, your security is also guaranteed 24/7.
Condominiums are definitely a promising investment. People who plan on investing in condos are choosing a wise decision buying an asset that is both rising in value and demand. In today’s setting, condo living promises quality of life while in an urban setting—something that would truly offer value for your money should you decide to go ahead and invest in a condo. Such development that is sure to deliver on this promise is the Astra Vertical Villages by Bria Homes. Its contemporary low-rise condominium development offers three “stars” as its main features: affordability, accessibility, and independence. It is equipped with elegant and modern architecture for sleek and spacious residential one-bedroom units. With world-class amenities, including a commercial area, Astra Vertical Villages promises to give the optimum experience inconvenience, lifestyle, and condo living.