Investing in Real Estate During the COVID-19 Pandemic
The whole world, not just the Philippines, has been thrown off its course by the COVID-19 pandemic. Many people from all sectors have been left wondering how best to look after their finances, particularly because stock markets have been crashing and the world has entered a global recession. With this in mind, many are wondering where they should invest their money, as the travel, hospitality, gold, and even oil sectors have all been hit hard.
Benefits of buying a house and lot during COVID-19
There’s actually no better time to invest in real estate in the Philippines than during the COVID-19 pandemic.
Increase in demand
With many businesses and schools offering work from home options, many people have left the condos, dorms, or apartments they were previously renting and have moved back into their family homes. They may now be sharing their rooms with their siblings, cousins, nieces, and nephews, and maybe living in much more cramped living conditions than what they were previously used to. That being said, many of these individuals may be looking to move out once again and live on their own to avoid mass gatherings or to better practice social distancing measures, especially as the younger ones head out once again to work.
Lower prices
Right now, house prices are holding steady and financing prices are low, which almost never happens. This makes it a golden opportunity to invest in real estate.
If you buy your house and lot at a pre-selling stage, you can even purchase it at a much lower rate and reap the benefits when the market surely stabilizes in the future.
A Necessity
Unlike things such as a phone or even a car, people will always need a roof over their heads, which is why investing in real estate, no matter the current financial climate, is always a good idea. A good, well-built home will always be a top priority for people, particularly if it’s built-in a community that offers lots of amenities.
A Note on Investing During COVID-19
If you’re looking to invest in a house and lot during COVID-19, whether it’s for personal use or for future reselling, make sure to look out for the following:
- Make sure the development has easy access to daily necessities such as groceries or wet markets, hospitals, schools and universities, and major thoroughfares.
- It is built by a reputable developer who can easily answer any of your questions about the development.
- The development is in a good area, is not prone to floods or earthquakes, and is predicted to see a rise in value in the years to come.
- It is also important that the house is located in a master-planned community that offers 24/7 security to keep you and your family or your future buyer’s family safe at all times.
- Bonus points if the development is fiber internet-ready so you don’t have to worry about your connection especially when working from home.
Investing in a house and lot involves a lot of money and careful decision making, but if you do your research beforehand and invest in the right developer, you’re bound to get an ROI in just a few short years!