When it comes to investing in real estate, one usually thinks of investing in a condominium unit. Condos are often bought as a secondary home, especially because of their strategic location and the amenities and facilities that you and your family can enjoy.
But because of the ongoing pandemic, you might wonder if this is the right time to be buying condos. Well, the answer is YES. Let’s take a deeper look at how buying condos might be one of the wisest investment decisions you’ll make.
You Make the Most of Your Money
With the world suffering from COVID-19, many businesses have experienced a decline in their sales and profit, including the real estate market. However, real estate experts say that the market is one of the most resilient markets out there. In other words, putting your money in real estate is a safe and wise investment.
While buying a condo right now may seem risky, you don’t have to worry about breaking social distancing or running the risk of getting infected. You can take virtual tours of the condo from your screen, and complete transactions and signing of documents through online platforms and applications.
Another great reason to buy condos at this time is that developers offer promo discounts for their ready-for-occupancy properties, such as SMDC’s Grass Residences in North EDSA, Quezon City. These promo discounts give you more bang for your buck as condos are often located close to business districts and offer amenities perfect for you and your family.
Overall, investing in a condo now means you pay for premier units and facilities for a more affordable price while being close to strategic locations all over the metro.
Condos have Stricter Sanitation and Safety Measures
Because condos are more densely populated and offer limited space between unit owners compared to houses and lots, developers have heightened their sanitation measures to ensure the safety of their residents and future buyers.
If you are still worried about the safety and health of your family, opt for lower-density condos, which means fewer neighbors and lower risks of getting infected with COVID-19 or other illnesses. If you still want a high-rise condominium that is complete with amenities, search for a condominium development that strictly implements sanitation measures when going in and out of the building.
For example, SMDC said in an interview for CNN that they have been gearing towards the new normal when it comes to their developments. They highlighted that their developments facilitate natural lighting and ventilation, which are ideal for their open-air lounges and co-working areas. Likewise, their spaces are perfect for work-from-home setups.
Condos Retain their Value
Along with getting the bang for your buck, investing in condos means you get a long-term investment. It is best to aim for a condo that is located in business districts or townships, as their relatively hefty prices are justified through their location.
If you plan to buy a condo but not as your primary residence, you may rent it out to earn passive income. Thanks to your condo’s strategic location, you will most likely get interested renters who need a place to stay near their workplace.
In other words, buying a condo in prime locations means your unit appreciates in value over time and will be a long-term investment. Investing in a condo nowadays is a smart move, with condominium developments offering discounts and heightened safety measures. You get more benefits in the long run. Make sure you choose one that is close to financial and lifestyle districts to get the most out of your investment.