There are numerous advantages and benefits to living in a condominium. It makes life easier in general. Condos make everyday life easier and more convenient, in addition to being a fantastic investment. Condos are proof that we are entitled to more.
Everyone wants their properties to appreciate in value over time, whether they are owner-occupier or absentee landlords. In reality, the fundamental reason that real estate is favored above other asset types is because of its equity potential and stability. All property assets, including detached houses, townhouses, and condos, can and do appreciate in value.
Various forms of property, on the other hand, confront different problems, with the pace of appreciation influenced by both the property and external factors such as location and market trends. While some condos value more slowly than single-family homes, a good unit in a good location offers incredible growth potential.
FACTORS THAT AFFECT PROPERTY APPRECIATION
A condo’s growth potential is influenced by a variety of internal and external factors. From the property’s condition to the condo building and the neighboring neighborhood. There are numerous factors to consider, ranging from local supply and demand to national and worldwide economic trends.
Property condition
The condition of the property, both the individual unit and the entire building or complex, is critical if you want it to appreciate in value. When purchasing a home, it’s critical to hunt for a decent deal rather than settle for anything shabby. While buying a run-down house and fixing it up can be a viable plan for a detached house, fix and flip projects don’t work for condos because you don’t have control over the outside structure.
Condo community
A condominium community is an ideal neighborhood. It’s quiet, and everyone respects each other’s personal space. The residents of the condos are mostly on the move, but you could sense the kind and welcoming atmosphere, just as you would in any Filipino community. Condo management ensures that events are held for everyone to get to know one another. There are also rules in place for the benefit of everyone.
In terms of long-term popularity and growth potential, the adjacent condo community is critical. Is it likely that the amenities will attract new buyers in the future? Is there a long-term plan in place for the condo board? It’s crucial to remember that when individuals buy condominiums, they’re investing in a way of life, so start thinking like a future buyer.
Neighborhood
The most important aspect in all real estate selections is location, which has the greatest impact on long-term growth potential. It’s always a good idea to start at the center and work your way outwards when analyzing locales, so start with the unit before moving on to the building, the block, the neighborhood, the suburb, the city, and the region. The condos that are most likely to grow the most are those that are in desirable regions with a lot of upside potential.
Supply and demand
Choosing a specific neighborhood might be difficult, as certain areas’ appeal and value are likely to change over time. It’s critical to have a fundamental understanding of supply and demand, as well as how it influences prices. While you want to buy somewhere that is reasonable right now, an oversupply of condominiums in the neighborhood could lead to lower costs in the future. You want to buy when the market is low and sell when it is high, so timing is crucial.
Exclusivity and niche appeal
If location is the most important aspect in real estate, exclusivity comes in second. This is especially true in the case of condos, where really distinctive projects catering to certain markets can be hard to come by. For instance, the last condo project on a popular block before planning regulations change, a condo for pensioners in an aging town, or a condo for students adjacent to a university.
Condominiums can and do appreciate in value significantly; it happens all the time. In many cases, single-family homes appreciate more quickly, although this is not always the case. If you want to buy a condo and develop equity over the course of your mortgage, the best advice is to consider prospective returns from the start and base all of your decisions on future buyer demands.
Viable Business Venture
A condo is the way to go if you want to get the most bang for your buck. They’re simple to obtain, and they quickly double in value. You can also opt to rent out your condo if you want to maximize the return on your investment. The rent paid by the lessee can be applied to your mortgage, and the apartment remains yours. Buying a condo is also easier through banks, and other financial flexible payment terms.
Looking for an affordable condo investment in Butuan?
Camella Manors Soleia is Butuan’s latest real estate player. Last January 2021, Butuan and the whole CARAGA region saw the groundbreaking of its first-ever condominium project. Camella Manors is Vista Land’s newest mid-rise condominium brand located in the regions and nearby provinces of Metro Manila. It promotes all-in lifestyle needs and resort-themed amenities that will cater to young professionals, starting families, investors, and Overseas Filipino Workers (OFWs). Camella Manors Soleia is set to become the tallest residential structure in Butuan City.
Located at Montalban St., Villa Kananga, Butuan City (just across Camella Homes Butuan); the condo project is set to rise four 7-storey buildings with resort-themed condo amenities. The first building Avior has a total of 119 affordable pre-selling units.
The affordable condo in Butuan offers premium amenities; like an adult pool, kiddie pool, fitness gym, function area, playpark, jogging trails, and commercial strips. The condo is also fully equipped with a 2-high speed elevator system, CCTV-security system, and a water sprinkler system. It also adopts a pet-friendly community and promotes smart condo living.
Soleia is strategically located close to the city center, making it accessible to many essential establishments; such as shopping malls, schools and universities, medical centers, and infrastructure developments. From Manila, you can reach Camella Manors Soleia with just a two-hour flight.
Interested buyers can reserve a unit online via PesoPay. For more information, check the Camella Manors website at www.camellamanors.com.
