If you put your mind and heart into it, you will be amazed to see you can afford whatever it is you desire. Yes – even if it was a condo for sale in the Philippines!
Have you been navigating the real “life” and “work” world for years now but sometimes still do not know whether you are doing the right thing? Do you constantly feel like you are working hard to get closer to where you want to be, but at the same time, you can’t find “solid proof” to remind you of your hard work? Have you traveled the world but still feel like nothing beats home in the Philippines? Have you been feeling like this lately? Maybe it is time to re-channel all your jet-setting energy into venturing into the world of real estate investing. After all, there are many options waiting for you, especially if you would like to start back home. With the many condos
for sale in the Philippines, you are sure to find one that suits your taste.
But don’t jump in blind either. To be successful at realty estate investing, you need to be prepared and as well-informed, as you can possibly get. Remember that purchasing your first property is a big step for any “adult” and it really doesn’t go without challenges. Finding the right place to purchase, looking for the perfect home or condominium unit to buy, and securing a deal with friendly payment terms are all big things for someone starting on property investment. While real estate investment can be one of the safest and most rewarding investments, you also can’t expect to be an expert overnight.
Megaworld International has gathered property investment tips to guide you through buying a condo for sale in the Philippines, perhaps your most exciting journey to adulthood.
1. SPECIFY YOUR GOALS
Setting vague goals early on is a mistake beginning investors make. After purchasing a house or condominium unit, not defining goals is a definite way to lose money. So make a list of objectives for your prospective investment property before you start even looking at options. You can use the following questions to help you think through your desired outcomes:
What type of property would I like to purchase? Am I looking for a home that would fit my single lifestyle? Or am I looking for something I can live in when I start a family?
Where would I like to purchase my property? Do I want it to be in the city? Or do I want to settle in the countryside?
Will I live there, or would I like my property to be rented out? If so, what ideal tenants would I want?
2. DO NOT SKIP ON RESEARCH
Be meticulous about the property that you are eyeing to purchase. Make sure you compare it with other properties to check if it is worth your hard-earned money. Regularly check out the local market trends. If you can, do an in-depth inspection of the property’s condition. Of course, you also have to check the location and discover what amenities investors most desire in the area you are considering.
Make asking around and talking to people with previous experience a part of your research also. Do you remember having friends who also looked for condos for sale in the Philippines? If they pushed through with their purchase, they might have learnings to share with you.
3. BE PREPARED FOR FORK OUT MONEY
While you may be abroad and earning currencies likely to be stronger than the Philippines Peso, it is still prudent to anticipate costs related to property acquisition. Banks may require a processing fee, documents may need to be notarized, and taxes may need to be paid.
Make the costs of investing in real properties a part of your research so that you can save up some amount before you commit to that condo for sale in the Philippines that you instantly fell in love with!
Remember that even though you are promised to acquire the best property on the market, you also want to make sure that even after buying a property, you will still have some savings you can access when you need them. The capacity to plan ahead for huge expenses is a skill one should master to swiftly navigate the world of property ownership.
4. CALCULATE YOUR ROI
Especially if you are buying a condo for sale in the Philippines for investment purposes, you need to know what returns you make on your investments and when you expect to break even and start taking in profits.
Make a note of all the monthly costs related to buying and maintaining the property. Then, if you plan to let your unit or home out, check for rental rates in the area. Use your rental income less your monthly expenses to determine the property’s ROI over time and determine whether it is a suitable investment for you.
5. FIND YOUR “SUPPORT GROUP”
Smart investors use all of their resources to learn about real estate investing. This entails creating a network of helpful experts, such as real estate agents, home inspectors, lawyers, and insurance agents. You can avoid purchasing the wrong property investment, those that may be difficult or costly to maintain, those found in lousy locations, or even properties with legal difficulties, by making use of specialists’ experience.
If you think you’re ready for your first property investment, talk to us. Megaworld International is here to guide you and give you the best possible offers you can find. Whether you are looking for a condo for sale in the Philippines or for a house and lot to move your family into, we have the perfect property waiting for you!
CHECK OUT THESE THREE (3) OPTIONS TO START:
1. ArcoVia Palazzo
Get ready to be inspired by Megaworld’s residential development in ArcoVia City, the ArcoVia Palazzo. Located along C-5 Road in Pasig City, ArcoVia Palazzo is a family-centric residential community that is set to transform the skyline of the 12.3-hectare ArcoVia City township.
Within the growing, living and vibrant communities of the 30-hectare Mactan Newtown is one of Megaworld’s prestigious condotels which is Belmont Hotel Mactan. Your dream of a worry-free investment starts here.
Empire East Highland City is the country’s first-ever elevated city, rising six meters from the ground. Megaworld, together with its subsidiary Empire East, envisioned the P20 billion township to be environmentally safe and aesthetically pleasing.