Buying Your First Condo Unit

23/03/2017

Buying a home can be intimidating, but it is also very exciting.

When it comes to purchasing a property, there are always at least two sides to consider. Finance is the first because it is our reality check and also our purpose of buying.

Condos make good investments because they are very much in demand. Condominium communities are going up all over Manila. Though it means much cash, Condos are pretty easy to sell or to keep as rentals for those times you're not using it. This is what I always say, "Earn While You Pay."

Your condo unit will appreciate in value; you could resell the condo in the future or rent it at a good price. My friend who resides in a condo near Robinsons Place, for example, paid around P2.5 million when he bought the unit last year. Now, the going rate for the same unit is P3.5 million, a 40% increase just after a year.

If you're thinking of buying a condo as an investment, it is best to buy during the pre-construction stage and sell or rent out the condo when it is completed and later on make a profit. Let money work for you.

One of the most common trends in today's real estate industry is the sale and purchase of pre-construction properties. Typically, while in the pre-construction phase, builders offer great deals on soon-to-be homes. The pre-construction process is an innovative real estate investment opportunity in which you buy tomorrow's property at today's price. With house prices booming, this information is incredibly timely!

Condos are a type of housing that has benefited mostly from the sale of pre-construction units, and there are some fantastic deals to be had. There is also the fact that condos appreciate at an alarming rate, even in comparison to single family homes. Whether you plan on living in the house or flipping it upon completion, pre-sale condos offer the opportunity to get a great home at a reduced rate.

Buying now or tomorrow, investing process will be the same except for the price which continuously increasing because the real-estate property is a hard-asset. It can provide a much more stable and reliable investment. The demand for property is always rising, so the values of the prime property are driven up naturally.

Either way is buying now or later. The decision to invest is a significant step in securing your future, whether you want to supplement your income or start to build your dream, always consider the opportunities it may bring.

As an investment, the condominium is one of the best types of investment, because it has (CCT) Condominium Certificate of Title, which can be traded, sale or mortgage thru the bank, and free from inflation. And could also generate income right after the turn-over. The highly skilled property management team is to manage the condominium after turn-over. They will help you in leasing out the condo units.

Let me know what I can do to assist you further in your pursuit of the "perfect" condo. - Connie Melby