Are you debating whether to purchase a condo as an investment? If so, keep reading because I will go through the advantages of buying a condo as an investment.
But before that, what exactly is a real estate investment? Real estate is one of the five fundamental asset types that every investor should consider including in their portfolios. It provides exceptional cash flow, liquidity, profitability, diversity, and even tax benefits. Real estate investment encompasses a wide range of operational, investing, and financial operations based on profiting from property or cash flows connected to a real asset.
There are several ways to make money in real estate, but some require time to pay off. However, keep in mind that investing in real estate may be an excellent strategy to increase your wealth if done carefully and with knowledge of the risks and benefits. That is why some experts recommend that you start learning about and investing in real estate when you are young, or as early as now because properties tend to appreciate in value, often as a result of a change in the market that increases demand for property in its area, or as a result of the effects of inflation.
So, here are five advantages of buying a condominium. Each exemplifies how ownership may provide a substantial advantage.
5 Advantages of Condo Ownership
Nowadays, most condos are strategically positioned in the heart of the city or support the “urban living” lifestyle. It’s because millennials and Generation Z enjoy fast-paced metropolitan living. They desire to live near or within walking distance to malls, shopping, and restaurants. They also desire convenient access to their employment, schools, hospitals, and other places of business.
Most condominiums have a security guard on duty 24 hours a day, seven days a week, to deter intruders. They enforce strict home rules and restrictions for visitors. Visitors, for example, must present identity cards; otherwise, the unit owner will notify the security staff about the guest/s to guarantee the safety of the unit owner and the community.
Aside from that, roving guards and CCTV cameras are installed in the halls of every level of the building and amenities to monitor the entire building 24/7.
With all of these security measures in place, you can rest assured that you and your loved ones are safe and secure.
Do you want a swimming pool? What about a fitness facility? Friday night games at the community clubhouse? A playground for you and your children to enjoy?
Living in a condo puts all of these wonderful facilities right at your fingertips, and they are available 24/7.
Many condo buildings provide residents with amenities that are beyond the reach of the average homeowner. That is why foreigners and investors sought out condo buildings with excellent amenities, since who doesn’t want to live a “stay-cation” lifestyle every day?
Aside from that, these amenities may make it much easier for you to get to know your neighbors. This might be a great benefit if you live alone or love socializing.
One of the most significant advantages of living in a condo is that the upkeep is handled by someone else. They mow the lawn, manage the gardens, and repair the roof, so you don’t have to worry about getting someone to repair the unit’s exterior and interior. This is a significant benefit, whether you are a first-time homeowner, busy with work, enjoy traveling, or simply do not want to cope with all those responsibilities.
A common use service area fee, sometimes known as condo dues, is charged by most condos. These are shared costs for the maintenance of the building, amenities, and general community beautification. Furthermore, your condo dues include charges for security and primary care of the corridors, shared spaces, and your unit.
Furthermore, condominiums are an excellent choice for people who want to age in place since they have close neighbors, experienced maintenance personnel to manage urgent repairs, and various events to keep you active in your community.
Profitable Asset: High Rental Yield and Property Appreciation
A condominium is a versatile and profitable asset. Some people acquire condos as an investment, and they forecast future appreciation. They invest in a unit and then watch its value grow. You can also profit from the condo’s sale. But in the correct economic situation, this is feasible.
You could also buy a new condo and pay off your old one by renting it out to new tenants. During a certain period, specific sites have significant value. For instance, during the summer, beachfront condominiums have a high rental value.
Furthermore, condominium ownership allows you to take advantage of tax deductions. In terms of money, owning a space is preferable to renting it. This is especially noticeable when rental payments are equivalent to mortgage payments.
Conclusion: Condo is a growing real estate trend
To conclude, lifetime condo ownership is an increasing trend; nonetheless, condos were formerly far more common among couples without children. This is no longer true. For families, condo ownership is becoming more popular. The advantages of condo ownership listed above serve to explain why.
Condominiums are a good investment since they may be mortgaged for the exact cost as a rental. Its market value rises with time. It has a substantial rental profit. Its location is convenient and easy access to major establishments. It provides enriching amenities such as a parking lot, a swimming pool, a fitness gym, a function hall, a play area, and a clubhouse. Furthermore, condominiums need less maintenance and provide improved security and a sense of community.
Are you thinking of buying a condo?
Then there are a variety of options. The best units, on the other hand, can be found at www.camellamanors.com.Camella Manors Frontera provides top-tier frontier living in a resort-inspired community with a spectacular view of nature. It is conveniently located on Tigatto Road, Brgy. Buhangin in Davao City, where some of the city’s promising infrastructures will soon develop and where a harmonious combination of sub-urban and well-preserved environment awaits you in the King City of the South.
Furthermore, Camella Manors’ utmost priority is the well-being of its residents. At the same time, with high-level security measures like 24/7 security and an electric perimeter fence, residents will be secure and safe, and at the same time, this will help residents to keep leisure and peace of mind at their best. This dedication extends to the functional and lifestyle amenities, which provide activities to improve the well-being of all residents. Unit owners searching for spaces to connect with nature will find pocket parks for meditation and picnic gardens. To supplement the indoor gym, an alfresco fitness park and running paths provide an alternate workout choice while connecting with nature and enjoying the benefits of fresh air and sunlight.
Moreover, Camella Manors Frontera is an excellent investment that retains and grows in value over time. Because Camella Manors Frontera condo units are in high demand, you may lease or rent them out. Purchasing a Camella Manors condo apartment will be the best choice you’ve ever made. With all of the above qualities of Camella Manors Frontera, I am confident that you will discover your ideal location and house in no time. Prepare to get all of the benefits while also improving your financial status!
Written by Jealie Dacanay / Intern