Should you BUY a property now or wait til 2024?
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- Опубліковано 16 лип 2024
- The two factors at play here are we either have to wait for a price correction because of the current high home prices or will wait for loan interest rates to go down because of banks' unfavorable interest rates now. The question is when will it start to happen?
@chris suarez, I appreciate the fact that you think independently and that you're advocating for your viewers and the general public. Hindi gaya ng kapag nanood ako ng ibang "property experts" palaging buy ang recommendation. They treat their viewers as their merchandise.
Kudos sayo sir!
I’m a newbie real estate investor and was just about to bite some overpriced preselling studio at 9m mainly from FOMO brought by other content creators. Thanks to your channel for grounding me a bit, and I’m going thru ur videos now to learn more about what to look out for! Will probably organize my cash flow a bit more and see if I can afford to actually buy a condo next year.
Exactly! A pre-selling condo near my area is being sold at more than double the current listing price of a similar condo in the secondary market (already RFO) from basically the same developer (Avida vs Amaia).
You can’t time the market. Nobody knows where the market is heading in the next years. Cashflow will be your determining factor to buy a property. If you’re buying a condo and rent it out and the numbers makes sense, then buy it , why wait when you have that opportunity in front of you. Why worry about the interest rates when the tenant is paying your mortgage plus you have some cash flow going into your pocket.
Find a property in a nice location where you can rent out, run the numbers . If it cash flows, buy. GoodLuck waiting for the correction.
Thanks for your insight Chris! that's what we plan to do, to save for DP for now then buy when the prices stabilize.
I'm planning to buy condo and I really appreciate your valuable tips and insights will consider it thank you!
Thanks for sharing
Thanks a lot sir ❤❤❤
Thank you po. Nasa equity pa ako. Kakakuha ko lang ng August. Praying po sa 2024 ay ma normalize ang. Enterest rate.
Yup thats true. I buy my house and lot last 2018 worth 3M in marikina 3 floors 50sqm. but now the price is 6 to 7M 50sqm 2 floors.
thank you sir cris
this content make sense, very honest review and realistic pov.
Thank you!
Can you share where you get the info on real estate price historical values?
thank you! I;'ve been in doubt nga about the prices this time, sobrang overpriced na nga, lalo na from 2020 now 2023 they are still selling, pero ang mahal. I would wait for 2024. but sir, please give me an advice, I used to splurge and my monthly credit bills averages 50-55k, bali every cut off, pambayad ko lang ng CC, do you think cutting the cc would help me save? I cut 3 of my other cards, literally. Natatakot lng ako sa convinience ng may card on hand, parang i can buy everything. please advise, sobrang laki ng influence ng videos mo sa akin. :)
Do you think the SMDC condo unit prices are fair ? 😅
What and eye opener please continue to make more videos regarding investment properties so all of us,I mean your viewers will have an idea on how to get a property investment in the Philippines that suits our needs and capabilities in paying our investment. Also if I may suggest please feature some of the properties that your clients bought and and how are they making profit out of
It.
Thank you!
Is it too much risk with the bank exposing themselves with this market condition.
Exactly! Condo owners also owns the bank! SM Residences BDO 😀😀😀😀
Hi. I bought a preselling condo from DMCI for about 5m. It is a preselling and turnover is 2027. Do you think it is reasonable or I made a mistake? I was first planning to live there sometimes if no airbnb customer since Im from province and usually wfh but sometimes I have to go to the office so i need a place to stay. Then the second plan was that since Ive got a new opportunity to work at Canada and Im planning to make my condo available for long term rent. Eitherway, I would probably sell it 30 or more years from now since Im still 23 yrs old. Do you think it is still a good decision that I bought a condo? Thanks. Will not be offended in any opinion since I am planning to buy investment properties for the following years. And always thanks for your videos.
Awesome video as always Chris. Saw your video about wholesaling, I didn't know it can be done here in the Philippines. Was wondering if you can do other creative real estate investing, like a "Subject To". The closest equivalent we have is "Assume Balance", which is more like seller financing. Was wondering if the "Subject To" deal is possible here - taking over amortization, inexchange for a deed. Thank you, appreciate your reply. :)
Yes, assume balance is the closest equivalent. Most pasalo transactions i've encountered are technically subject2 deals.
so maa mabuti kung magrent na lang?
Do you still think it's wise to wait till 2024 if I'm looking at the secondary used market at straight cash? Thoughts on studio units in a decent manila location at around 3.5M. Do you think that's inflated and would go down further moving forward or that's a good deal regardless of the year and current market conditions?
If you won't apply for a loan, and the property is under market value, i'll give it a green light. I think 3.5M studio units in Manila is a reasonable price if the condo is relatively new.
@@ChrisSuarezRealEstate how bout 2016 properties at 3.5M, within the metro (makati, manda,qc)? Not sure if that would classify as relatively new haha
sir Chris ano po ba ung desired interest rate to buy?
Nag mahal nga Ng unit ngayon. 1 bedroom pre selling unit with 29 sqm is 5M and its preselling unit. Not sure if overprice
i think it is overpriced. yan sana ang balak kong bilhin
Does this mean it is better to acquire the RFO units nowadays?
No naman, you still still have to check other aspects
Thank you for giving us an insight. You know, when agents are selling Condo's they should be transparent and knowledgeable kc may age limitations ang pwedeng mg loan at depende rin sa age kung ilang taon i allow ng bank ang lenght of payment, which is paano kung d pla kya ng budget na within 15 yrs to pay lng yung approved ng bank.
Eh d yung pre selling n binabayaran ng 2-3 yrs is bka benta n lng 🤔
Sheesh bought ours 2023.