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Once again, it’s the season to be jolly! And what better reason to smile is the arrival of the much anticipated 13th-month bonus for many Filipino workers? Luckier ones even receive additional bonuses such as 14th-month pay and beyond. But what do most people do with their extra money?

A new appliance or furniture, trips for the family, luxury gifts, or even a new car? However, these choices can only benefit you in the short term. Cars, appliances, or gadgets lose some of their value once you take them home from the store. So instead of splurging your bonus this year, why not use it to accomplish your goal of financial security? In short, why not use your windfall to invest in properties?

Professionals still living with their parents or renting out must have thought about owning property at some point. For every reason to buy a property, there are probably plenty of reasons not to or at least hold off the decision for the time being. Chief among these reasons are higher interest rates and rising property prices.

Is It A Good Time To Invest in Property Right Now?

The good thing about real estate is that it will always be something people want. Housing will remain in demand in a country with a reported 1.54% population growth rate in 2023. A property investment now can serve as your primary residence for the next few years.

Once you find your home too small to fit your family’s growing needs, you can choose to invest in a bigger property that’s closer to your office or place of business. You can sell your old home for a profit given that property prices tend to rise over time. Or, you can opt to rent out your property to earn passive income without giving up an asset.

Either way, owning property helps you achieve financial security. At the least, you won’t have to worry about a place to go home to when your finances are down. At most, you can generate a handsome profit by selling your property when its value goes high enough.

Interest rates will fluctuate depending on the country’s economic conditions. Thankfully, you have plenty of options with financing, including choosing variable interest rates instead of fixed ones. You can consult with real estate professionals and partner financial institutions for today’s best deals. In addition, home prices tend to increase over time.

To answer the question above, it’s always a good time to invest in property when you have the means to do so. A sizable 13th-month bonus can go toward a property for your family to live in now or as an investment to live off in the future.

Worried About Prices and Budgets? 

Understandably, your 13th-month pay might not be enough to cover a down payment. For those worried about prices, pre-selling properties offer a great deal on soon-to-be-completed projects. Make sure you take a long, good look at your planned purchases and deal only with reputable developers.

Many real estate companies offer installment rates on the down payment during the pre-selling period. When both the project and the downpayment are complete, you can move into your new property and pay your monthly amortization. The experience is virtually the same as renting to own or plain renting. In the end, however, you get the residence (or investment) of your dreams!

Your dream of financial security should always come with a healthy dose of maturity. Invest only in homes that you can realistically afford. More importantly, make sure that your investment won’t take more than what you can spare in your monthly budget. Strike a balance between what you want and what you need. If cutting corners in expenses is necessary, focus your cuts on frivolous things like excessive trips to coffee shops or bars.

Get the Gift That Offers You Financial Security. Ohmyhome Has the Investment Properties That Fit Your Needs

Instead of using your hard-earned bonus money to buy the latest gadgets or blow it all on a trip, think about your future financial security. Renters or those who stay with their parents will eventually need a place of their own.

Why not use your extra money to start planning for your future? At the least, you and your family will have a home no matter what happens in the future. However, your investment can pay off big time if you wait long enough for your property’s value to rise. 

Ohmyhome Philippines can help you find the property of your dreams from the comfort of your room. As the country’s premier property tech platform, we have a considerable listing of available properties from 200 of the country’s top developers. Our simple search tool allows you to filter results based on your location, home type, turnover date, and budget preferences. 

In addition, Ohmyhome’s team of real estate professionals and customer service staff can provide you with valuable property advice, find you the best deals, and assist you with documentary requirements. Why waste time jumping from one developer site to another looking for that elusive property when you can have modern convenience at your fingertips? Sign up for a free account today and get the ultimate homebuying experience with Ohmyhome! 

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