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Tips For Making Your First Property Purchase

Real estate presents a great investment opportunity. Unlike securities and other investment instruments, it is generally impervious to deflationary forces caused by economic crises such as this pandemic.

Because it is tangible and real, its value keeps increasing over time. With a huge housing backlog and a continuously growing demand for rental properties, investing in a condominium now can immediately give you good ROI.

Like most people, you are probably dreaming of owning a home, but taking that first step can feel intimidating and scary. This is one important decision you will have to make with your hard-earned money, after all.

If you want to invest in real estate but do not know where to start, or are unsure about your financial capability or too anxious to even try, here are tips to help you get started.

1. Evaluate yourself

Determine your net worth. Start by enumerating your assets, such as your monthly income, bank savings, car and jewelry. Then, list down all of your monthly expenses for necessities, car loan, credit card debt and personal loan. By subtracting your liabilities from your assets, you now know where you stand financially and if you are financially able to buy your first property.

2. Be financially literate

Listen to podcasts, watch webinars, read articles about real estate investment, or explore other online tools that will help you make wise financial decisions. This will guide you on what to expect when investing in real estate. An interesting and worthwhile read is found in this article.

3. Consult with a professional sales executive

Armed with enough information about your financial capability, it is now time to get in touch with a professional sales executive, who can help you familiarize yourself with the types of units and key features of their products. They will be able to help you find the most suitable properties according to your needs, budget and product preference.

You can get a hold of sales agents by looking at different digital platforms, such as Carousell, Dotproperty, Property24, and Facebook.

Check the websites of properties you are eyeing. SMDC has professional sales specialists on standby to help you with your queries. You may get in touch with them through the official property website, SMDC’s Facebook page.

4. Do your research

Before making a commitment, evaluate the housing situation and the location of the property you are eyeing. Assess potential value of the area. What are the current and future developments around it?

One known developer that offers properties situated in prime locations is SMDC. Its properties offer five-star amenities and commercial establishments within the community. With this make-up, you are assured of continuous increase in property value, which will also mean steady rental growth.

5. Make that investment now!

Take advantage of various promos, discounts and flexible payment terms currently on offer so you can get that dream investment on more affordable terms. Astute buyers take advantage of situations like today to find the best deals.

Purchasing your first real estate investment need not be an intimidating and challenging experience. Take that first step, get informed, and you will be off to a good start.

*Minor edits have been made by the editors.

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