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It’s a great time for millennials to invest in real estate, with the robust industry getting a boost from government infrastructure initiatives and rising demand in residential and mixed-use properties. Millennials, who are known to think out-of-the-box, may find real estate a perfect opportunity to go beyond their 9-to-5 paychecks and grow their money.
As a source of passive income, investing in properties may help millennials become less tied down to their jobs and more free to do the things they want to do, like creative pursuits or travel.
But before you start exploring for prospects, make sure you have these few things on lock:
Understand the Technicalities
With the Internet usually just a touch of a button away, the Internet is a millennial’s best friend. Research is key for beginning to understand the technicalities of buying real estate. Find out about the kinds of properties you can invest in–is it residential? A condominium, or a house and lot? What legal steps should you take for the transfer of titles? What other documents do you need? What fees are involved? It’s important to be able to get a grasp of the general process so you’re fully prepared.
Find a Partner You Can Trust
Good financing options are imperative for millennials looking to invest. Before you start looking at properties, it is a good idea to talk to your bank so you could be informed of the financing options you could take. Apart from that, trusted and credible real estate agents and brokers could guide you into the process of home-buying as well as lead you to properties with your best interest in mind.
Start as Soon as Possible
Millennials should get started as soon as possible on real estate investments. While the country is poised for an economic boom, properties remain at reach. The sooner you begin, the sooner you can start earning. You’ll soon be able to reap the rewards as values are projected to increase in the coming years.
Always Consider the Risk
Always consider the risks involved. The key to this is understanding how the market works. Assess the market by looking at historical data, comparable property prices, and average rental income. As a tangible asset, real estate gives you a little more security, but to be on the safe side, you should make sure you have a clear understanding of the risks involved before you purchase a property.
Turn it into a Passion Project
Millennials are driven and creative. Turn your real estate investment into something you can be passionate about. For example, you can venture into “flipping” a property. Try not to limit yourself to a black-and-white experience of home-buying. Whatever you explore, ensure that your investment becomes something you can find value.
Lamudi Housing Fair TriNoMa
For millennials already looking for properties to invest in, or for those are interested but still want to know more, the Lamudi Housing Fair will take place at the TriNoMa Activity Center from April 6 to 7, 2019. Millennials who want to invest in real estate can take this opportunity to learn more about the processes involved in home-buying and their financing options. This is also a perfect chance to score deals and freebies from developers, as well as canvas some prospects.
This event promises to be an exciting showcase among the country’s best developers and real estate projects, wherein you can also enjoy great deals on properties and comprehensive insights into home-buying.
Last year’s Housing Fair took place in Cebu, joined by 23 exhibitors from industries such as real estate, banking, and finance. Major developers such as Megaworld and Robinsons Land were also represented in the event.
For this year’s run of the Lamudi Housing Fair, here are some things you can look forward to:
- Free Comprehensive Home Buying Seminar
Attendees will have the perfect opportunity to learn the ins and outs of home-buying at the Housing Fair. Prospective buyers, especially first-time buyers, can enjoy tips and advice on home purchasing from industry professionals–everything from viewing the property, the requirements to be fulfilled, and finally, buying the property.
- Exclusive Property Discounts
As the event will be attended by property developers and representatives from industries such as hotels and resorts, furniture companies, banks and financial companies, and insurance firms, attendees can look forward to exclusive deals and freebies during the fair.
- Live Foreclosure Auction
Foreclosed properties are viable starters for aspiring investors. This year’s Housing Fair will feature a live auction of foreclosed properties, giving attendees the chance to secure properties at the lowest rates possible. Aspiring investors can bid on their prospects with the help of Lamudi’s partner banks and brokerages.
Finally, some of the exhibitors are Amiya Raya, Filinvest HRB, Filinvest MRB, Robinsons Communities, SM Development Corp., Grand Monaco Estate Developers, Inc., Aboitiz Land, Inc., Taft Properties, Phinma Properties, Land Registration Authority, Philippine Daily Inquirer, Food Panda, DMCI Homes, Hausland Development Corp., Land Bank of the Philippines, and UnionBank of the Philippines.
The Lamudi Housing Fair may just be the opportunity you’ve been waiting for. Millennials and non-millennials alike can take advantage of its offerings and may just jumpstart their real estate ventures. Find out more on the website.