Ah, millennial's. The so-called selfie
generation. They want things fast and they want it now, but they are
also known to be driven and competitive. Aside from that, majority of millennial's also admitted that they don’t want to be “tied down” to a
certain place or job, prompting them to avoid real estate investments
like the plague.
Which is a shame really, because if there was a
generation that could really benefit from real estate, it would be them.
Here are 4 reasons why millennials should take advantage of real estate:
It’s Better Than Renting
Aside from being the selfie
generation, millennial's are also identified as the “renter” generation.
Surveys say that as much as 60% of millennial's don’t plan on buying
properties soon. Majority of them would rather rent. Which begs the
question: where is all that hard-earned money going?
The answer? To your landlord’s pockets.
Wouldn’t you want to come home to a
place that was actually yours? Imagine renting out an apartment for,
say, 5 years. After your fifth year, there is no difference: the
apartment would still belong to your landlord and you’ll have nothing to
call your own. On the other hand, if you spent that money in a real
estate investment, then you can sleep easy knowing that you have a
potential asset in your hands. Whether you’ll live in that property or
turn it into a rental, the important part is it’s yours to do as you
wish.
It’s A Source of Passive Income
Millennials are often known for their
dislike towards 9-5 jobs, but a significant number of them don’t find
ways to create passive streams of income. Ironic, right?
Simply put, passive income is where
you earn money even when you’re not actively working. Real estate is
arguably the best source of passive income out there. Imagine owning a
property that you can rent out for twice or thrice the cost. If you
invest in the right place, with the right location and appreciation
rates, you can practically retire before you’re fifty.
That means less
time in the office, more time doing the things you want. If you’re a
millennial who doesn’t want to be tied to your desk job for the rest of
your life, you better invest in real estate while you’re young and able,
especially since the real estate scene in the country is on the rise.
Now Is A Really Great Time To Invest
The Philippine economy has been
labelled one of the fastest-growing in all of Asia. The Philippines is
entering the so-called Golden Age of Infrastructure. Mega bridges and
other structures are being built. Foreign investors, especially from the
tech and IT industries are showing a lot of interest in the country.
That being said, now is a great time to invest in real estate while
we’re still on the cusp of development. This means that most projects
are still within your budget.
Once these infrastructure projects get
completed, you can expect the value of your investment to appreciate
just like everything else. This means that if you invest on a real
estate property now, its value is only bound to grow. Unless you already
have a lot of money and less responsibilities in the future, securing
an investment in a couple of years rather than now would prove to be
costly at this rate. So take advantage of the affordability and make
your move now.
Developments are Adapting to The Millennial Lifestyle
Developers are keeping up with the
times as well. These days, most properties have amenities that cater to
the millennial lifestyle: jogging paths, yoga areas, WiFi zones,
security services, and retail outlets are just the tip of the iceberg.
They are designed to fit the millennial’s work-life balance philosophy.
When you invest, the millennial investor won’t get a unit made of
concrete; they are also buying a lifestyle. It sure beats living in an
apartment with no security or amenities.
Source: filipinohomes.com
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