Welcome to Adulthood! It’s probably everything or nothing you expected it to be. Yet here you are entering the prime of your lives. You have finished school, acquired a stable job and you are healthy as a horse.
The time is ripe for you to start thinking about the “F” word. The Future! Unless you have discovered the fountain of youth, then you have nothing to worry but if not then you should read on.
It’s time to build your wealth. Your parents were right when they said that you should save some for the rainy days. Stop throwing away your money on double shots of espresso on venti cups. In the end, you’ll only drill a hole in your stomach and your pocket.
Be practical and learn to invest your hard-earned cash into assets that may be useful in the long run.
In a recent survey conducted by Real Estate Investment Survey, it revealed that 55 percent of millennials are enthusiastic about home investment, and over half would invest in property other than their primary residence. Nearly 40 percent of home buyers were under 36 years old. So what’s driving the change in millennial home ownership?
1. The magic of technology. The advent of the internet paved the way for a lot of improvements in our daily lives. It holds the same power over investment. It has erased the stigma of ignorance. So if you’re still a bit shaky about the entire investment thing, do your research online. There are a lot of websites that can explain to you the goings on in real estate investment. The digital resource education platform has encouraged millennials to invest in real estate.
2. It’s the next logical step. While most millennials are not racing down the aisle, some are already thinking long-term. Before saying I do, they tend to purchase their homes with their partners to ensure that they have a roof over their heads when they finally decide to take the plunge. While others are having children and growing their careers, moving into their new home is indeed the next best thing.
3. Millennials also realize the potential of earning extra cash by renting out their ready- for- occupancy (RFO) type of condominium. Either you buy it now or sell it later. Or you can have it rented out. If you’ve purchased a RFO, it is considered as a positive cash flow—wherein rents outweigh the holding costs. A key feature of real estate investment is the significant portion of the total return, accumulating from rental income over the long term. The extra money you earn from it may be used to purchase another unit or can assist you in the other facets of your financial needs.
4. Real Estate as a tangible asset. This means that you can physically see and occupy the investment. Unlike in the stock market– which is an intangible asset—, it is quite difficult to quantify. And millennials being the more visually minded or image oriented generation, investing in real estate is highly attractive. Also, the presence of real estate in your portfolio of assets can lower volatility and can provide venues of higher returns.
But through it all, you must remain vigilant. You are young and quite vulnerable. Watch out for the vultures. Do your research and avoid scams. Be wary of the people you transact with. You have to learn to sift through the papers and fully comprehend what the words and figures mean. Make sure that you have a reliable partner as you invest your hard-earned money.
Empire East Land Holdings Inc. is among the developers who made it a personal mission to look out for your financial needs in this maze of real estate investment. The portfolio of Empire East is designed to make every development stand out.
A perfect fit for savvy millennials is Empire East’s Pioneer Woodlands. Located in the midpoint of Edsa which provides access to business districts in Quezon City, Ortigas and Makati. This is Empire East’s first-ever transit-oriented development. Pioneer Woodlands is considered a transport hub which makes the commute more bearable for employees.
Investing in real estate such as in Pioneer Woodland is a sure hit for those who would want to make the right choice of investing for the future.
To know more, you may call 810-3333 or e-mail inquiry@empire-east.com. For other properties by Empire East, visit www.empire-east.com or follow @empireeast on Facebook, Twitter, and Instagram.