If you have long been thinking about real estate investments, you probably know that location is everything. But so is timing.
Similar to other business ventures, timing is everything when it comes to real estate investing. So if there’s currently a health crisis, should you buy a property? Also, is a condo unit a good investment option?
The answer is yes and yes. If you have the financial capacity, it’s wise to consider making a property investment. There’s never a wrong time to buy a property, especially one with an enduring value like a condo unit.
Need more convincing? Here are four reasons why a condo property is among the most timely investment options today.
Its value almost always appreciates
Generally speaking, the value of condo properties increases over time. Condominiums are often found in areas with easy access to transportation networks, commercial spaces, and essential services. In short, these vertical communities are in desirable locations where housing demand will likely be high, which, in turn, brings the condo unit’s value up.
There are also condo developments located in popular tourist destinations, like the Kasa Luntian in Tagaytay City. Properties in tourism hotspots benefit from nearby facilities and infrastructures that are constantly being improved. This positively affects not just the accessibility of the properties but also their real estate prices.
It’s flexible and improvable
A condo property is more than just a home, especially when the unit is in a resort-inspired community. While you can buy a unit for personal use, you also have the liberty to turn it into a source of passive income. It’s flexible in such a way that you can lease it out for short-term or long-term renters. You can improve it—have it interior designed or add a dedicated workspace- for tenants looking to experience workcations.
It appeals to different market segments
Another great thing about condo investments is they never go out of style. Millennials could be the face of condo living, but the vertical lifestyle suits the downsizers and retirees too. Condo living is easy and convenient as there’s less space to maintain, no stairs to go up and down to, and lots of amenities are available.
A few years from now, Gen Z may also start exploring condo investments. This makes sense as this younger generation is money-savvy, making them an ideal market to tap if you plan to resell a condo unit in the future.
It allows you to diversify your investments
Finally, with a condo unit, you can diversify your investment portfolio, which can happen in two ways. First, if you don’t own a condo property yet, it would be a valuable addition to your assets because of its long-term income-generating potential. Second, a condo unit can be acquired through flexible payment terms, which means you don’t have to pay in full cash. There’s a down payment that needs to be settled for sure, but the rest of your investment money can be used to acquire other properties.
Considering all these reasons, the condo investment strategy is a timely and smart one at that. When you’re ready to put some money down, look out for promising options such as Kasa Luntian in Tagaytay.
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