The popularity of real estate investments remains intact for Filipinos. With the increasing number of property developers in the country, more investment opportunities become available for Filipinos. This is especially true in Metro Manila, where several residential and commercial properties are built every year. Unfortunately, with the increasing number of options, some people may find it hard to decide where to invest their money specifically.
Is it a great idea to purchase apreselling condo near Julia Vargas? How about in Makati? There are many factors that you need to consider. For one, you need to learn more about the investment process before deciding which property to buy. To make the process easier, build a checklist for your preferences.
Let’s start with one of the key things you need to think about: location. Location can greatly affect the overall value of a property. Here are a few reasons you need to consider location before making a purchase.
Cost of Living
Most people these days invest in real estate properties for additional assets. Some convert them into rental properties so that they can generate passive income. With this in mind, you need to check out the cost of living in the property’s area. Try comparing the prices of food, utility bills, and other basic expenses with those of other locations. Choose a location where the cost of living is affordable.
A studio unit in Pasig is often more affordable than one in Makati. If you want to purchase a property located in a prime location, you can look for preselling units. They cost lesser compared to brand new, ready-for-occupancy (RFO) units. Check the price difference and decide which one suits your budget and preference.
Choose a property that is located near public transportation. If you can, look for a unit near commercial establishments as well, so it will be easier for you to have access to basic needs such as food, medicine, etc. Buying a property near recreational parks is also a plus.
Make sure that the property is located in an area with zero or low crime rate. Keep in mind that people would not want to live in a place where there are reported instances of dangerous activities. Research about the available units in different areas and choose one that you think is the safest and most secured.
Features and Amenities
Residential properties should be located in an area where there are options for indoor and outdoor activities. These include parks, gyms, schools, or chapels. Take note that having access to places where they can spend time relaxing or having fun with family and friends is a big factor for many homebuyers.
Investing in the real estate industry can be challenging. Make sure that you focus on gaining knowledge about the process first before you make the final purchase. You can also talk to professional real estate consultants to assist you with the process. Do not forget to check out different available units in various areas in Metro Manila, so you can have more options and opportunities to choose from.