So you have your money and your ready to invest in condominiums. Maybe you already viewed several projects and seem to like one of your choice. Now the questions is, should you choose a studio or a bigger unit, or a one bedroom unit? Studios might be very very tempting.
Let’s say you have 10 million pesos to be allocated for condo investments. That amount of money could already buy about 5 or more units. Maybe your right except for one thing, you’re limiting your options. Condo investing is not a one-size-fits-all business. And so is your approach to buying new units. And for that reason, I’d like to share some factors that you might want to consider before buying a condo, specifically, choosing a condo unit size. Here they are:
In some locations like near the schools, studio units is the better option. The reason is simple, studio condo units provide both economy and security. You can tell that to your future tenants.
2. Target Market
Still related to location, your target market could be students(studio) or tourists(1 bedroom or more). Small families can be your target market but based on my personal experience as a condo project specialist, small families that are renting today will soon choose to buy their own unit.
For properties with lower price, your tenants will surely love a bigger space(1 bedroom or bigger). This will also be your main selling point by the time you rent-out your condo. Usually, lower condo price means that the condo is not on a prime location. A bigger space should fill the gap. For more tips about buying condo units, Why Look For a Perfectly Balanced Condo Investment? should help.