Is It Worth It Investing in a Condominium

It is now a trend that agents are in the malls and business centers these days looking for people that they can ask to buy their condominiums, it’s typical that you’ll meet a real estate agent handling out flyers for townhouses, property lots and condominiums units. And everyone is actually telling that this is a good investment, they even have a promotion or a deal of as low as such an amount.

But before buying a condominium you have a lot of things to take into consideration because yes it is a good investment but there’s a certain point and a requirement for it to be beneficial for you in the long run.

What is an investment?

It is something that makes you money. Alternatively, if something’s costing you money then it is called liability. And also if it’s neither giving nor taking cash from you, then it is called idle asset: These are not how it was defined in our schools but they’re close enough for you to fully appreciate the rest of the things that is written here.

First of all a condominium will not be a good or will not be worth it as an investment if you or your gamily will be living there or if you have no plans of selling or having it rented out.

So here are the things that make your condominium an investment, a lot of OFW invest on buying a condominium and what they are doing is they offer it to people for renting, staycation, or transient, in this way there’s a cash that goes back on their pockets and it can be added on their monthly amortization.

It can be a very good investment if your main plan is to sell or have it rented out once it’s ready because condominiums as we know it, it has a lot of beautiful and amazing amenities that can attract people. Also if you plan to leverage it as an asset to get portfolio income.

We can all say that buying a condominium is a very good investment but you have to be smart in a way for you to maximize your hard earned money. Be wise enough to plan and to know when the cash is back period of your investment because in short and in simple terms if there are nothing returning to you then maybe this is not a good investment. So it is your responsibility to do something for your own good.

Here are some of the things that we also notice for your condominiums investment to work;

Your property should be in an area where there will be renters. A very good location like tourist spots, or in the metro like a lot of new developments are located like condo in alabang.

Will your rental fee be more than the monthly mortgage you’re paying? If not you are not making money it will become an investment only after it does.

You need to know how to evict non-payers and troublemakers.

We hope that you were able to pick something and go on and invest on a condominium but be very smart on your planning stage and on what do you really want to achieve and do with your condominium.