Northpoint tops 4 features of profitable investment property-A A +A
Wednesday, September 18, 2013
WHEN investing in real estate, there is a lot of research and decision-making involved. If you're shopping around for a condo as a rental property, consider four major items that can potentially make or break your investment, and pit these against the benchmark for the most attractive real estate investment in the region -- Northpoint, the landmark condo development of Vista Residences in Davao.
1. Homeowners Association. There are a lot of benefits from having a homeowners association. It takes away the worry over property maintenance from unit owners. They don't have to worry about landscaping, roof repairs or exterior painting. They only have to expend their time, energy, and budget on the interior of their own condo unit.
Association fees cover the exterior of the property, which normally requires more extensive work and cost. It also covers upkeep of the clubhouse, fitness gym, driveways, parking, basement, laundry area, and other common areas in the property. The guarantee of consistent care and proper maintenance translates to a much higher resale value for the condo property.
2. Progressive Neighborhood. The look and reputation of the immediate environs of a rental property count. No investor will want to buy real estate in an area with a bad name or, worse, is known as a hot spot for criminal activity. The surrounding vicinity with a progressive look and signs of growth are indications that the neighborhood is a good place to invest in real estate.
Located at the junction of Buhangin Road and J.P. Laurel Ave., Bajada, Northpoint is at the center of the growth area of north Davao. As such, it is situated in the progressive part of the city where real estate is booming, with new hotels, malls, BPO parks, modern office buildings, and commercial centers on the rise.
The neighborhood inside Northpoint itself is a diverse mix of professionals, successful businessmen, urbanites, expats, corporate executives, as well as the well-heeled and the sophisticated set—certainly pleasant to have as neighbors and friends.
3. Flood-proof. With flooding occurring in Davao City after a heavy downpour, it pays to locate your real estate investment on elevated land. Northpoint is nestled on undulating land that stretches toward Buhangin, an area higher than most parts of the city. The condo property is also filled with preserved olden Acacia trees, profuse shrubbery, and hundreds of imported Caribbean pine trees that can withstand the hardest of downpours and absorb and control surface runoffs.
4. Value-added Services. A condo development that gives post-sale, value-added services to unit owners is an ideal property to invest in. While other developers may leave the homeowners to their devices after the condo purchase has been made, there are those that continue to maintain their presence by continually providing services to make life more enjoyable and convenient to unit owners.
Northpoint does exactly that with amenities such as the shuttle service for its residents around the condo property and to the gates. To ensure the community is clean and safe, it has instituted a waste management system that ensures segregation and proper waste disposal.
Northpoint condo investors will find all these as bonus points for their rental condo, making it more attractive to prospective renters. But what they can appreciate most is the tenant selection and rental collection that can be done for them, taking away the effort and stress of trying to find takers for their condo units.
Published in the Sun.Star Davao newspaper on September 18, 2013.