Why do people buy properties today?

Understanding our real estate buyers, their needs, and preference. These are common reasons why clients buy a property today base on our interview with real estate agents and real estate brokers in the Philippines.

According to real estate broker Ms. Michelle Grafe, a majority of her clients are millennials who are looking for investments and not a primary home. Her clients from age 28 to 35 years old and single are looking for investments instead of the main home. According to her, the clients are financially wise, and they see a great potential in real estate investments for generating an income stream for them soon.

Customers aged 35-40 years old clients are looking for a permanent home. They are usually married couples with kids who are renting at the moment. Either one of them is working overseas and the other a stay at home parent. They are seeking for a 3 to 5 bedroom house for their growing family. For singles at this age, they are either looking for a house for their parents to live in or a simple retirement home in the future. Some who are financially capable and are single are looking for units near their workplace. For second home buyers, are usually investors. Those who were able to pay for their first house completely and can afford to invest in a new one for an income stream.

Clients aged 41-60 years old are looking for a retirement home. Majority those who are well planned financially are looking for peace and quiet community. About 20% of them are looking for convenience for old age. Bungalow units or 1-2bedroom condo units with beach access or garden view. They are looking for a place where they can enjoy solemnity and peace and quiet, and a place where they can also accommodate their visiting children and grandchildren.

It is not in the Filipino traditions and culture to put aging parents in a señor home. Filipinos are taught to take care of the aging parents. They usually live with either one of their children. But, señors nowadays also prefer to live on their own. Most especially those who vowed to not live with their children when they get older, those who were able to prepare old age financially. You may be surprised with the number of señors aged 60 and above opting for condominiums than the traditional house and lot in the barrio. Around 50% of them preferred condos near the hospitals and churches. They said it would be easier for them in times of emergency and easier for their early morning Eucharistic activities.

With that, a majority of the clients today have an investment in mind. We have to admit that the young millennials are wiser now compared to their older generations. Although first family homes are still the top priority for married couples with family, you would agree that the younger generations are learning and investing wisely compared to their older generations.

If you wanted to experience or feel how good our economy is today, invest whether in stocks, securities, and properties. Start today, contact our licensed investment endorsers and advisers here in Filipino Homes.