Investing in Real Property
If you have the financial resources and want it to grow and earn some kind of interest, investing in a House and lot, or Condo would be a profitable venture. Investing in Real estate is the safest way to keep your money intact and earn a sizable profit in just a short time. Although, it is the least risky investment, it still has its ups and downs so you should still be very careful when putting money on it. When buying a house and lot or Condominiums, you should always remember real estate’s three most important things which are “location”, “location” and “location”.
For instance, if an individual is a millionaire, he should invest only in properties that falls under the category of high end areas such as Forbes Park in Makati, Magallanes village in Pasay, Ayala Alabang in Muntinlupa, Ayala heights in Quezon City, Global City of Taguig, and other five star subdivisions scattered all over Metro Manila. For the middle class subdivision areas in Quezon City, Makati, and Paranaque will suffice. Real estate will only continue to maintain its value and increase its worth if the location is at a prime area of the metropolis or in other parts of the Philippines.
However, it’s not only the rich and the middle class who can enjoy this kind of investment. Even those who belong to the ‘C’ and ‘D’ family class can also purchase and invest in real estate especially OFW who are earning foreign currencies that has 40 times more value than the Philippine peso. In the Philippines, OFWs or Overseas Foreign Workers are very much capable of purchasing real estate property and their only dilemma is to select whether to buy a condo or house and lot.
When purchasing a property, there is always a choice between buying a traditional house or a condominium unit. Aside from the location, housing type is also an important decision to make. For a house and lot buyer, both the house and the land underneath it is acquired whereas a buying a condo only includes the living space inside the condo unit, and a portion of a common area of the building. Although there are both advantages and disadvantages to buying house and lot or condo unit, lifestyle and the cost will help determine whether a single-family house or a condominium unit is more suitable for your needs.
Buying a Condo Unit
In the real estate business, location of the property may be the only important thing to consider. Real estate is known to be a tangible asset that one can feel and touch making it a good choice to invest your money in.
For the people who reside in the Philippines, a house and lot would be a good option to invest in but for those who work abroad such as an OFW, and other migrant people, it would make more sense to invest on a Condominium unit. If you are an OFW, investing in real estate is more of getting to know when you will get your ROI or return of investment and how long it will take for the property to grow in value.