When it comes to real estate investing, you should be “in the know”. If you’re wondering why it’s good to buy a condominium here in Cebu, then here are the top 6 reasons why you’d like to.
1. Accessiblity. Convenient Location
For most of us living in a city, specially here in Cebu, a good location is top priority. Condo’s are built for the purpose of maximizing the use of land on a prime location. This greatly benefits the unit owners, especially those that are coming from outside Cebu.
What makes the condo desirable is what comes a long with it. Most of the condo units are of minimal space, however, this can be supplemented by an ample amount of ameneties. Having a swimming pool, a clubhouse, fitness facility or some recreational area would come affordable when shared by a group of owners, rather than an individual property owner.
Most of the condominium projects offer unit owners a strong sense of community. Especially in developments that provide a variety of planned social events for owners. It’s also good to ask the type of owners around your unit, whether they are investors(of rental units) or owner-occupied.
4. Stress Free Maintenance
Another great advantage of owning a condominium is that the you are not directly responsible for doing maintenance of the building, and other common areas. This will greatly free you up from all hassles of maintaining. For those who have owned a house already, this will give them a break from many years of home maintenance. Condominiums have monthly condo fees that is used to cover all expenses for central services, like security, gardening, repairs and some general services. You pay a small amount for all these services.
5. A Good Investment
You’ll find it interesting to purchase a condominium unit as an investment, either to anticipate the price of the unit to go up over time or because you want the unit rented out. The latter is a smart way to do it. Since condominium units tend to appreciate more slowly than single-family homes, you’ll probably be want to choose to capitalize on its rental potential rather than wait for the unit to go up in value. This would give a good monthly cash flow.
6. Affordability. Price
For most of us, price will be the deciding factor in purchasing a condo over a house & lot. In comparison, condo tend to be affordable. House and Lots are priced higher, since you are paying for the lot and the construction cost of the house.
The rising developments in Cebu is an indication that real estate is a booming business today. It’s wise to invest now and reap the returns later.
If you’re looking for a good condo to invest in, you’re in the right place. We’ve picked up some of the best condominiums here in Cebu.
You may also check these good source of information for details - Condo-Buying Walkthrough: Reasons To Buy A Condo