Investing in real estate is a big and wise decision Overseas Filipino Workers (OFWs) make to secure their financial future and support their families back home. Among the myriad investment options available today, condo ownership is doubtless a smart investment choice for OFWs.
Why is this so and how can our modern-day heroes benefit from the practical living and investment that comes with condo living, let’s talk about why vertical homes are the real deal this 2024 for OFWs.
Let Asterra, the latest local condo brand to enter the real estate market offering value-packed condominiums with thoughtfully designed spaces, guide you through your condo investment journey in this blog post.
Are Condominium Units a Good Investment?
To help you make a smart investment decision, let us first quickly address the lingering question as to whether condo units are a good property investment option.
Without any shred of doubt, investing in a condo community is a smart choice not only for overseas Filipino workers but also for locals who fancy the perks that come with being condo dwellers.
One of the best things about condo living is the sense of safety and security it ensures condo residents. After all, these developments are nestled within neighborhoods with little to no records of alarming criminal activities that would pose a significant threat in the collective safety of its unit owners.
Condominium buildings come equipped with guards at both entry and exit points, and feature round-the-clock security in the presence of surveillance cameras in strategic parts within and outside the condo premises.
OFW Smart Investment: Benefits of Owning Condominium for Overseas Filipinos
But there is more to condo unit living (and investing) than meets the eye. Let’s get to the heart of it all and talk about condominium ownership as a smart investment decision for overseas Filipinos. Here, we provided six benefits of owning condo, as well as reasons why a condo investment is absolutely worth your money and time.
1. Home for your family
One of the main reasons Filipinos work abroad is give their families a more comfortable life. And one of these is giving them a home they can rightfully call their own. Purchasing a condominium gives your small family a permanent place to live in the Philippines. It’s more secure and comfortable than renting because you own it. Your family can customize the space and make it their very own.
What is more, they can create a place where they feel genuinely at home. Condos, after all, come with extra facilities such as a community lounge, sports court, and a swimming pool where the entire family can relax without leaving the community. With condo living, you give your loved ones a better and undeniably more comfortable life.
2. Rental income source
If not as the starter home for your family, you can turn your condo unit into a rental property for passive income generation. You also have the option to have your family live there while renting out part of the condo to someone else. This can help partially cover the costs of condo ownership.
Take advantage of the fact that lots of people look for strategic places to rent, especially in emerging locations in Greater Manila Area (GMA) and regional areas nationwide, where city life meets peace and comfort. Having said that, investing in condominium units, especially in areas posed for growth, allows for a steady income source for aspiring investors.
3. Capital appreciation
One of the benefits of owning a condo is how its value appreciates over time. The condo market in the Philippines is growing steadily, so condo units are a great investment for people who want to have a brighter financial future. This means that should you decide to sell your condo building later, it could earn you a sizeable profit.
If you worry about your condo property wearing out and losing their appeal over time, you can make minor to major renovations and routine improvements to maintain their market value.
4. Portfolio diversification
For financially-savvy OFWs, investing in condo buildings offers a worthwhile opportunity to diversify their investment portfolio. There are stocks, bonds, and mutual funds as the most common options, but it’s the real estate market that provides a tangible asset which can act as a hedge versus market volatility.
Diversifying their investments across different asset classes, including condo investment, overseas Filipinos can spread risk and potentially increase their overall financial returns. Besides, investing in condo communities entail relatively lower risks compared to more volatile assets such as stocks. This creates a more balanced investment strategy for long-term financial stability for hardworking OFWs.
5. Retirement planning
Migrant workers can hugely benefit from the peace of mind that comes with being condominium owners back in the Philippines. While abroad, you can rent out your property in the meantime for passive income. If you have plans on returning to your beloved home country after seeking greener pastures in a foreign land, you can then have your unit and settle here for good.
During your retirement years, you deserve nothing less than the comfort and peace that comes with compact living in an accessible community with the perfect balance of open greens and growing cityscape. Indeed, it’s a practical investment option that will tremendously support your retirement goals and financial aspirations.
6. Cost-effective investment
In comparison with other forms of property investments, such as single-family houses, condominiums provide the best value for money as ultimately the cost-effective and practical solution. After all, it’s cheaper compared to a single-family home with a higher purchase price.
And if you want to save more money and earn profit from your investment, you have the option to take advantage of foreclosed properties and pre-selling units, which are even cheaper without sacrificing quality. With its exclusive amenities such as a swimming pool and a fitness center, it’s not difficult to attract interested tenants who prioritize comfort, safety, and convenience for their personal sanctuary.
If you’re actively on the lookout for a property investment in a strategically located condo community, you cannot go wrong with Asterra’s compact spaces alongside its beloved amenities such as a gym, community lounge, sports court, tranquil landscapes, and pool area.
Whether it’s for retirement, passive income, or first home after you fly back to the country and reunite with your entire family, Asterra properties were built with the prospect of condo owners’ full satisfaction in mind. Live the good condo life in a community that values nothing else other than your comfort and peace of mind. Get in touch with an Asterra representative and be a condo owner this 2024!
