As you earn money, you want to make sure you make the most from it. The most prolific way to achieve this is to make your money work for you by investing it. There are many forms of investment such as stocks, cryptocurrency, mutual funds, insurance, and real estate.
With a wide range to choose from, there is no one size fits all approach. For busy people who want an investment with promising returns and little involvement, an ideal choice would be real estate, particularly condo units.
Being a tangible investment with stable returns, a popular choice for investors and property hunters are condominium units. This is because of its amenities and optimal locations which give way to an appreciation of its value. Ideally, a golden rule is to invest in a property with a developed and accessible location such as Mandaluyong.
Due to its promising economy and abundance of both residential and commercial establishments, Manila’s “Tiger City” is a good location to hunt for a condo unit.
Just like any other form of investment, purchasing condos as a potential stream of income may come with risks. Here are crucial factors to consider when investing in a condominium in Mandaluyong.
Location
According to real estate experts, there are three important factors when buying a property. Location, location, location. While some people buy a property based also on how much it appeals to them such as the interior architecture design , or whether it can be remodeled or renovated but at the end of the day the location where it stands will still remain the same. This means that strategically choosing the location of your condo is important.
Last year, people born in 1981 – 1996 were the age group who purchased most real estate. This age group favors areas that are conveniently located near transport links, schools, grocery stores, and hospitals. While they make up for most of the homebuyers in 2021 and favor accessible locations, here are some factors to consider that will help determine whether a condo’s location can make it a considerably good buy.
Centrality – Land is a finite commodity. When purchasing a condo for investment purposes, keep away from areas that are highly developed to the point where there is no more room for additional growth as prices here are at their peak compared to areas where development is constant and the surroundings are changing.
Look for areas that have development going on around or locations with a substantial change such as planned expansion or construction of nearby buildings, both residential and commercial. Locations with sweeping changes are ideal when it comes to value appraisal. These changes may also improve an area’s desirability.
Neighborhood – While the ideal neighborhood is relatively subjective , there are determining factors that allow one to identify what a great neighborhood is. Most of the time, its accessibility, appearance, and amenities. The neighborhood also dictates the orientation and sizes of housing in the area.
Proximity to Local Amenities – Another trait of an ideal neighborhood is the distance to essential locations or amenities such as grocery stores, shops, lifestyle centers, and shopping malls as most people frequent these places.
Look for areas near schools, regardless if you already have kids of your own that need them at the moment because the vicinity of school districts, especially those reputable institutions, boosts an area’s home value.
This is a great factor especially when you plan to sell your condo in the future or rent it out to students during the school year. Many veteran real estate investors advise targeting neighborhoods with well-known high schools or colleges.
When looking for a condo pay attention to the local amenities within the area . Look out for salons , laundromats, restaurants, and cafes. Also consider accessibility to trains, roads, and public transportation, such as bus stops, subway stations, and pedestrian-free zones as these increase property value overtime.
When talking about good neighborhoods around the city, Greenfield District in Mandaluyong is definitely one of them. Located within the main thoroughfares of Edsa and Shaw Boulevard, the 15- hectare master-planned development sits at the heart of the city’s Central Business District. It is near key locations which contain essentials and creature comforts for every resident in the neighborhood. Greenfield District houses shopping centers such as The Hub, The Portal, and Pavilion Mall. There are also nearby malls Shangri-la Plaza SM Megamall, The Podium, Ayala Malls the 30th, Estancia, and Robinson’s Galleria, which are all accessible through a short drive.
It is also near schools such as Lourdes School of Mandaluyong, University of Asia and the Pacific, St. Paul College Pasig, St. Pedro Poveda College, La Salle Greenhills, Domuschola International School, Immaculate Conception Academy, and Xavier School. With many notable schools around, investing in a condo unit within Greenfield District will be an ideal investment, considering the demand brought by the students of these institutions.
There are also nearby hospitals such as VRP Medical Center, The Medical City, Cardinal Santos Medical Center, and St Luke’s Medical Center in BGC. In times of emergencies and need, residents around the area may go to these hospitals for treatment and care.
Moreover, Greenfield District is near other Central Business Districts like Ortigas Center, Bonifacio Global City, Eastwood City, Bridgetowne, and Makati Business District. This makes any property located within the area favorable as it is known to be a coveted space.
Within Greenfield District are two of Greenfield Development Corporation’s prized high-rise condos namely Twin Oaks Place and Zitan. Both these properties redefine urban living by exposing their residents to limitless possibilities of connections.
To learn more about how to invest in these conveniently located properties, click on the link below:
https://greenfield.com.ph/
Reference:
- https://www.newamericanfunding.com/blog/pros-and-cons-of-buying-a-condo/#:~:text=There%20are%20many%20reasons%20a,condos%20a%20less%20expensive%20option.
- https://www.activecampaign.com/blog/real-estate-quotes#:~:text=Whether%20you’re%20a%20full,United%20Kingdom’s%20largest%20property%20companies.
- https://www.investopedia.com/articles/personal-finance/060415/importance-millennial-consumers.asp
- https://en.wikipedia.org/wiki/PLVI