Every millennial's guide to owning a home before 40

News
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16 May 2022
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When we think of the future, we dream of achieving great things in our career, creating a family, traveling the world, or living a simple and contented life. These are all amazing dreams to have but at the end of the day, we have to ask ourselves, where are we going to settle down? How?

 

Fear not and just read ahead to learn how to own a home before you hit your 40s!

 

The thought of having a space of your own is exciting! But plenty of people feel that this is an unattainable dream and that could not be any more wrong! As early as now you can create the foundation that will secure you a home. Here’s how:

 

Be financially literate

In order to get that dream home, we have to learn about financial literacy.

 

According to Hastings, et al (2013), this is the knowledge of financial products (stocks and bonds), financial concepts (inflation, compounding, credit scores), mathematical skills applied to making financial decisions, and being engaged in financial planning. 

 

Studying and gaining knowledge in this field allows you to have an idea of how the market moves! Make the best financial decisions by being financially literate and understand how your money can grow for you!

 

Create a business or a side hustle

As you are saving up from your day job’s salary, remember that there are multiple ways to generate more income-- even passive ones.

 

Capitalize your skills and interests to find the right side hustle for you! If you’re good with numbers and balancing your books then consider a franchise! If you’re in the arts such as photography or graphic design, consider doing commissions! 

 

You’ll be surprised at the many possible side hustles out there that you can learn or are already aligned with your skill sets so, don’t be afraid to branch out!

 

Do your research

When the bank account is looking secure, it’s time for one of the most important parts: research. 

 

With every big investment such as a car or a condo, we don’t just pick one that fits our budget. We do all the necessary research in order to get the best bang for our buck. 

 

In the case of real estate, take time to research the developer, their available Ready For Occupancy units or pre-selling options, the payment options, and most importantly, the location.

 

Always choose a place that sustains the lifestyle that is convenient for you-- one that is accessible to plenty of transit options located near schools, hospitals, and places of leisure such as malls. 

 

And always remember, the area that any development is in will inevitably increase in value over time on top of its current value which opens up more possibilities for income such as renting it out or as an Airbnb when things get back to normal.

 

Snag a pre-selling unit

This was briefly suggested in the point above but we just want to give you a nudge in this direction if you would like to learn more!

 

As you now know, pre-selling properties cost less than an RFO unit and the value appreciates over time, especially by the time that it is ready for occupancy. Pre-selling units offer more options in layout and floor level. 

 

When you get to this point in your journey of buying a home, know that you can only go up from there!

 

We hope that this has been helpful in giving you an idea of what you need to know and do in order to own a home in your 40s. Even if you’re just in your 20s or 30s, it’s never too early or too late!

 

Take advantage of promos

And just in case you feel that you’re ready to take the next step and have prepared enough, grab limited opportunities that will help you attain your goal of owning a home at an affordable price such as Empire East’s ongoing Fuel Up, Gear Up Promo until May 31, 2022!

 

Under this promo, you can get an Executive Studio unit for as low as 6,000 pesos per month or a 1-bedroom suite at Empire East Highland City for only 9,000 pesos monthly*! You can live in an upscale, elevated community that is conveniently located within Felix Avenue in Pasig-Cainta. This is the best location that will guarantee you to be close to central business districts such as Ortigas, Makati, and BGC. 

 

 

Empire East Highland City is a 22-hectare development that features an 8,000-square meter Highland Park, hosting retail areas, a 500-seater church, and a luxurious Highland Mall. Aside from its ample space, you can also enjoy exclusive perks when you become a member of the 6,700-sqm Chartered Club. 

 

If you are interested in investing through our ongoing promo and want to view other Empire East projects, INQUIRE NOW by calling 0917-8EMPIRE/ 0999- 88EELHI or sending an e-mail to inquiry@empire-east.com.

 

You may also follow @empireeast on Facebook, Instagram, Twitter, and YouTube for promos and updates.

 

Feel free to pay us a visit at our showroom located at 5/F SM Megamall. See you!

 

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