Most Filipinos dream of owning a house. Owning one is an emotional and financial investment. Your house is where you can raise your family and retire in it. It can also be a financial investment as the value of real estate properties appreciates over time. Houses can also be considered a forced savings scheme: you buy it, live in it, and sell it for a much higher return.
Other than houses, there are other real estate investments that you can purchase. Condominiums are a good investment too. Many people purchase pre-selling condos and have it rented by other people. This ensures that every month, they are receiving money that helps pay the mortgage.
Purchasing His First Real Estatement Investment
Recently, a Facebook user named Jun Pasion shared his own take on real estate investment. According to him, owning a real estate investment was their family’s dream but he once surrendered achieving it. It took him and his family a long time before they were able to achieve it because of some wrong decisions in life that ended them in debt. Eventually, after a long time of working and saving up, they were able to accumulate the money for the downpayment in buying their very own apartment unit.
Purchasing their first real estate investment made them very happy. Plus, the location is ideal because it’s next to the city hall. The apartment is in heart of the city and near commercial and residential buildings. Due to the location, they are expecting that the property’s value will appreciate over time. From their initial investment of P14 million, they can sell it by P28 million in just a few years.
Reason For Making the Investment
Jun also shared the reason why he decided to purchase his own house. According to him, the difference between paying for the rent and the house is small. However, the money you are using to pay for the rent is going to another person.
The thrifty netizen also said that he is paying for a Unit Investment Trust Fund that also serves as his retirement fund. He is making monthly payments to achieve his goal of P20 million in 15 years. This serves as his money machine that can give him up to 10% or 2 million every year. If he will be able to sell the property in the future for the projected amount of P28 million, he can add it to his UITF to earn more even during his retirement.
All Jun wants is to provide a better future for his family. He is making the investment not only for himself but for his family’s future.
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Do you also agree with Jun’s point of view? How important do you think is saving up for your future retirement?