Investing for your kid’s comfort

You’re finally sending off your kids to college and you want nothing but the best for them as they hurdle through this last stretch in their schooling.

However, their choice of school is quite far from where you live, a distance seemingly made even longer with the metro’s mad, infernal traffic. Now, living near these universities and colleges doesn’t seem such a bad idea after all, right?

Some may choose to rent an apartment or stay in a dorm since your kid will be staying in college for just fours year anyway.

But you have another choice: you can opt to invest in a student-friendly residential condominium unit. And fortunately, doing so has been made easier not only by the property developers themselves, but also by financial institutions such as local banking giant Metrobank, which offers flexible home loan facilities for those wanting to invest in a second home.

In the case of Metrobank, one can enjoy a maximum loan amount of up to 80 percent of the property’s selling price and pay for it for as long as 25 years. If you’re looking at fixing interest rates, Metrobank offers up to 15 years, with rates ranging from 5.5 percent to 10.5 percent.

There’s an upside in investing in a condo unit for your kids. For one, you’ll have full control of the unit where they will live so you can customize it however you want to suit their needs.

You can get to know your neighbors there too, befriend those working there, and best of all, you can also lease it out and earn from it, once your kid finishes college and moves out. It’s definitely a win-win for you.

Once you’ve decided to go for it, and after choosing a reliable bank like Metrobank as a partner, it’s now time for you to do your research. What kind condominium or apartment will be best suited for a student?

Here are the factors you should consider.

1 Location

It’s a given: your kid’s new residence should be near the school. In fact, it will be much better if it’s a mere walking distance between home and school as this will save on time and effort on the part of the student.

Let’s face it: the pile of homework they get to face once they’re in college can be daunting and overwhelming. So it’s a plus if they don’t have to get tired commuting or traveling to and fro school. They can instead use that extra energy to study.

2 Security

Unlike before, you won’t get to keep watch of your kid every single day. If you want to be appeased and keep that peace of mind, make sure to invest in a condo that puts the security of their residents at the front and center of their concerns.

Make sure they have 24/7 security, CCTVs and other security measures. In fact, one premium student residential condo is equipped with a security system that offers radio-frequency identification (RFID) for every resident. Once a student-resident taps his or her RFID access card to enter the premises, a text message will be sent to his or her parents informing them of the arrival their child.

There are student residences where parents can dictate how many visitors their child can have in their rooms. Talk about utmost security.

3 Student facilities

A priority for those looking for the ideal student residences should be the availability of facilities that create a highly conducive area for learning.

Better if the condo has quiet study areas, maybe even a library, or just small holding rooms where the student-resident and the classmates can meet up for a group work. Having such facilities will provide the student a most suitable environment for studying.

4 Amenities and recreational facilities

As the cliche goes: all work and no play makes Jack a dull boy. Your kids will need a break from school work too, and so it’s most ideal to choose a residential condo that offers a myriad of amenities that can provide a well-balanced, holistic lifestyle.

That may include a swimming pool, basketball and/or tennis courts, lush open spaces where they can take a breather, and gym facilities to tick off those fitness goals. Better too, if the condo has a small retail and commercial area at the lower floors to allow the students to unwind before they hit the books once more.

Of course, as with any major decision, you will need to weigh the pros and cons of investing in a second home, most especially if you have other existing obligations. Always, always do your research and thoroughly check your financial capacity before making that big move.

You may also consult a home loan expert from Metrobank to get you through the process. At the very least, with a trusted banking partner like Metrobank, you’ll be assured of being in good hands.