Have you ever thought of investing amidst this current outbreak or in the middle of an economic downturn? Most people wouldn’t take the risk of investing during an extraordinary time like this due to instability, but experts in the industry believe that there are still advantages in making an investment today.
Despite all the challenges this pandemic and the current economic downturn had caused the world, it is still the right time to invest and one of the best investments during this extraordinary period is a condominium unit. Here are some of the reasons why.
Location: Most condominiums are built in strategic locations, situated in a business districts in the city. It offers you the the convenience of easy access to and from work or school, thus saving you from the stress of commuting and at the same time saving your precious time and energy. The malls and restaurants are nearby too. In this time of a pandemic, a location that is accessible to hospitals, supermarkets, government offices and other essentials is the best choice.
Amenities: Most condos offer amenities for relaxation and enjoyment such as swimming pool, sports gym, health spa, and café. Having a condo unit with these features is a plus.
Amidst this pandemic, when we are always being reminded to exercise regularly to improve the immunity and stay in shape, a condo where there is the gym or the swimming pool, is a good investment. We can easily achieve active lifestyle daily. When boredom strikes, you need not go too far as you can always choose from the ones that’s already present in area of residence. You are sure to be safer inside the premise of a condominium without having to sacrifice the lifestyle you used to enjoy before the pandemic.
Security: The added layer of security is one absolute advantage of condo-living. Outsiders cannot get in easily and the entry and exit points are heavily guarded. There are CCTV’s installed in common areas, hallways and even parking lots, an extra protection to make occupants feel more secured. This tight security even gives you a peace of mind that even if visitors come and go, you have an effective way for contact tracing if ever there is an incident of virus infection.
Maintenance: Condo living will not require you to get outside electricians and plumbers should you need repairs. They are just a phone call away, which gives a lot of convenience at the owner’s end. Everything is taken-cared of by the housekeeping and building maintenance staff, which is an enticing perk for baby boomers and busy people. Nowadays, it is always safe if you are going to deal with people who are just within the area. Today is not the right time to welcome strangers inside the house but in a condominium, there is an assurance that the people you interact with are the people you know or at least, the building admin is familiar with.
Cheaper prices and lower interest rates for buyers: The pandemic, coupled with the economic instability we are experiencing right now had caused people to struggle in their finances. Due to that situation where many are adjusting their lifestyles, real estate developers are now selling their properties for a much cheaper price so more people can afford to buy or invest.
In UK for instance, government published a guide on home moving during the coronavirus outbreak and announced a new 5% mortgage deposit program for first-time owners. In line with this, the Bank of England cut their interest rate to 0.1%.
If you have enough resources, now more than ever is the time to take advantage of the benefits of these low deal costs and invest in low-risk investments, such as condominium units.
When the interest is low, borrowing money becomes cheap and that enables a stronger buying power of people who are interested in real estate. The easing of loans, give more flexibility in your budget, which means you can easily go for that condominium property you have always dreamed of.