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So You Want To Invest in a Condo? Here’s What You Should Do!
August 17, 2018
“ Take our word on it, these condos are profitable ventures. ”
Here’s the thing: Nothing’s wrong with keeping your money tucked away, but have you ever thought of the benefits if you invested it instead? Make your money move! One great investment option you can explore is a condominium.
Since more and more people are shifting to condo-living now, luxury condos are on the rise. Name a key area across Manila, and there’s an SMDC Condo there for you to invest in. Take our word on it, these condos are profitable ventures.
Do condos make sound investments? Absolutely! High-rise living in a condo is an extremely attractive offer. Condos are typically located in prime locations, allowing residents easy access to business districts, schools, restaurants, and retail establishments. Value-adding amenities like pools, gyms, gardens, and common areas are also a plus for people because they get to enjoy resort-like living without having to leave the city.
Looking into investing in a condo now? Here are some things to keep in mind:
1. First thing’s first: Check your finances.
Before anything else, make sure you have a steady flow of income, or at least a solid source of finances to secure the down payment and other fees for the property you are thinking of investing in.
2. Invest Time and Effort
If you’re going to profit from renting a condo out, treat it like a business. This means you have to spend time and effort to really know your property and its features. If you have little or no clue at all about what you’re investing in, how do you expect potential buyers to jump into your offer?
3. Have a Buyer in Mind
Taking your cue from #2, you also have to identifying who you want to sell to. Location is a key determinant for when you’re classifying your market; if your target property is near a school then your potential buyers would be students. If it’s in the business district, your prospects would ideally be yuppies and businessmen. More things to consider, aside from location, are the amenities and other perks.
4. Be prepared to market your property.
By determining who you’re selling to and pinning them down, it will be easier to actually rent out your property, making it worth the investment. Which leads us here; you will need to get the word out on your unit for rent. You can do this through the good old classified ads or by word-of-mouth. But these days, that’s just not enough. We highly recommend maximizing social media and other digital platforms — but of course with everything considered including your target market’s preferred source of information, and behaviour offline and online.
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