The real estate industry has proven to be unshaken in terms of growth despite the recent world economic crunch. The steady and consistent growth since 2001 has seen the handsome development of commercial properties as well as residential properties. The dynamics of the industry saw the increase of investors in the sector all over the world. It is amazing to note that despite the sublime growth in the past decade, financial experts have poised the industry to advance to greater heights since the economy has now taken an upside turn.
The real estate revelation has seen the growth of condo investment. Stakeholders have realized the enormous potential financial benefits of condo investment. Financial advisors strongly advocate for condo investment and cite it as one of the safest bets in investments. It is noteworthy that young buyers can tap into the opportunities because of the flexible terms that are offered. The financial benefits are immense, and it is, therefore, necessary to highlight and discuss the top ones.
Lower down payment
As aforementioned, condo investment has been viewed as an investment that is accommodative of different classes of people including young and first time buyers. A down payment is usually an arduous task for a person that has no property to sell in order to come up with substantive capital. However, the down payment rates in condo investment are relatively low and thus affordable to potential investors.
Cheap access to first-rate amenities
This is arguably among the best features of a condo investment. Most of the time we spend a lot of money on amenities like swimming pools and gyms that don’t necessarily offer the best services. However, with a condo investment, you are guaranteed of exclusive amenities that are equipped with world class and modern facilities. These amenities are conveniently availed to you at unbelievably low costs that you pay as part of the maintenance fee.
Condos are easily rented out
The rental market is on the upsurge, especially in urban centers. The infinite number of employees and students are some of the clientele that you would capitalize on when you decide to rent out your condo. Rental of property is an opportunity when you don’t want to sell your condo or live in it either. You can thereby capitalize on the ready market and maximize on the profits that accrue.
High resale value
Real estate is a competitive market, and such vibrancy dictates that the property sales value is equally high. Also, the location and general appeal of your condo would ensure that the returns from a sale are worth every penny that you invested initially.