I have an excellent guest blogger and this post was written by Euru Hojilla from NUVO CITY. He is one of the best Real Property consultant and passionate when it comes to educating everyone in regards to investing your hard earned money in the world of real property.
Being a young professional on this generation, having an investment is such a big thing. Nowadays, you won’t be able to sustain a family or even start having a family if only depending on your monthly salary. Having a business, investment or a little side kick would be much helpful.
As a young professional, we need to be fully educated of all the options that is best for us. At this point in time, there’s a lot to consider like stock market, a traditional business maybe for example a canteen, convenient store, coffee shop etc. Others even consider doing multilevel marketing, others do online marketing, some do selling at work or even at home but little that they know, they could do more bigger like investing in a real estate. Most people easily ignore this idea because they always assume that there’s a need for a big capital so instead of learning more about the process, they just say no and let go of this wonderful opportunity.
Real estate investment is worth more than a million, even millions but that doesn’t mean that you need to produce millions instantly. There are a lot of amazing offers real estate developers do. One of those are our chances of investing to our first property for NO DOWNPAYMENT payment schemes. Property Consultants will usually ask for your requirements regarding preferences of location, size of space, number of bedrooms, which floor or even orientation of views and most importantly, the budget. Property consultants will assess our capabilities and will surely tailor fit what’s best for us. A good sales man will not push a product on his advantage but rather what’s best for his/her client.
The next question is: WHY REAL ESTATE? WHY A CONDO?
First, real estate is at its boom and has been predicted by our socioeconomic professionals that it will continue grow bigger and bigger for the years to come. Why real estate, its because of its potential of having a multiple growth or appreciation of the value of your investment. And why condo, because most developers are now creating or building high rise towers in prime locations provided that they are given full equipments to enjoy and maintain a high value of life.
A condo is best to buy during its pre-selling. You will be able to get it or start paying for it in a cheaper or most affordable price. Then through the time, the value of your property is increasing and will keep on increasing. Quarterly, most developers release new prices of their developments and noticeably increased about 2-5%.
What condo offers are accessibility to schools, churches, hospitals, malls, business districts, main roads, restaurants, convenience stores and a peaceful environment.
What we usually pay is the location. The price of the property differs to its location. For example here in Libis, Quezon City. The usual price per sqm to nearby developments are at 120-130,000 per sqm while on this particular project, it only cost 102-110,000 per sqm but the quality of the materials, the finishings and all the deliverables are incomparable. Here, you will be able to save more and gain more. Not only that, you will be more than satisfied with your property and a confirmation of your wisest decision.
What to consider in investing to a condo?
Number one of course is the location, second is the reputation or the credibility of the developers and lastly and most importantly, is the benefit you’ll get once you decided to buy a property on this development. A wise investment is choosing a property which not only offers residencies but with spaces for commercials, offices, businesses, malls and even hotels. In that, you are sure to yourself that the value of your property will greatly increase in 50% or even more.
Some young professionals and even the pro’s do condo investment for rental purposes (either residential or office purpose) or for resale. Rental – unit owner will look for tenants to rent their spaces from 15-50,000 pesos. That depends on how you furnish and how big your unit is. Most tenants are from BPO offices or if not, families. Resale – for example, an investor was able to buy his unit at 2.3M pesos during pre-selling and after few years once the tower is fully turned over, the buyer will now find another investor to buy it on its current price like for example, the property bought from 2.3M is now at 3.8M. The buyer turned seller is able to earn a net of approximately 1.5M pesos and again will venture to another pre-selling properties.
What’s good when you invest to condo is that, this is a property and a tangible form of ownership, an asset and its money generating. You just have to be keen in scouting to condo properties and find the best investment for you.
Step to do: Find a property consultant, relay the requirements you’re looking and provide him/her the opportunity to offer you the project appropriate to your needs and wants. Requirements are basically, 2 valid government issued id’s, tin number, signed forms from the developer and a reservation fee which can be paid thru cash, cheque or thru credit card. Then next thing to do, get your payment schedule and never missed paying your monthly amortizations. If you maintain having a good payment history then you’ll have a better chance to be approved for bank loans.
I think, I need not to say more because your fortune will always depend on your options. Just stop saying No’s and start saying Yes for yourself.
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