Why Invest in a Condo Unit?

It seems that more people now consider buying condos rather than getting or building a house of their own. Nowadays, condominiums are springing up everywhere like mushrooms, and yet selling faster than pancakes. And it’s not that difficult to understand why.

You see, as far as investors are concerned, condos are far more favorable than other real estate properties and owning one is a good Philippine real estate investment. Their greatest advantages over regular houses are their versatility and location.

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Location

Condos are typically located near commercial centers – popular workplaces, universities, hospitals, or some other important, crowd-drawing establishment. This placement, such as an for sale condominium in Eastwood, makes them an attractive and strategic choice for people who are looking to cut down on transportation expenses and transportation time. You see, by getting a unit near the school or your work place, you will be able to go back home quickly instead of wasting an hour or more in commute. At the same time, if it really is considerably close, then you could even just walk to work or to school and save up on gas money. The convenience that an excellent location brings gives condos such a huge advantage over properties that are located elsewhere.

Second, since commercial centers are bound to develop further (may not necessarily soon though, but still develop nonetheless), these locations become more urbanized, and eventually more popular. And as they do, the condos around them also become more in-demand and expensive. From an investor’s point of view, this basically translates to an increase in worth and a much faster return of investment. Most condominium buildings push the commercialization of the areas where they are built because of the number of residents that it brings to a particular area.

Versatility

Aside from being strategically placed, condos are also inherently versatile. Being in buildings, condominium units are more or less uniform in size.  They are also easily secured or blocked from being accessed, and are conveniently monitored. These qualities make them ideal for plenty of uses.

If you are not going to use your unit anymore for personal space, you can rent it out as an office or storage space to companies who are sourcing out for additional rooms to expand to. If you don’t want to leave the unit bare, you can just leave all the house stuff inside and then have it rented out occasionally as a temporary home for any visiting relatives from other countries or even for OFW’s vacationing from their workplaces.

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