| Futuristic Architecture from pinterest.com via Steve Derodar
While we all welcome the new year with all the bang, some of us always find ourselves needing to revisit the times of the past before we can get excited about the future. Futurists may predict advancements in all possible ways, albeit complex and uncertain. In real estate, time travel can be an exciting introspection as to what worked in the past and what may be foreseeable trends and norms for the future.
What about we try parallelism with real estate investment and the concept of going back to the future in offering creative observations and metaphorical discussion?
Investing is a bit like time travel In the world of real estate – a journey where decisions made today have the power to shape your future. Just as Marty McFly navigated the challenges of the past, present, and future, real estate investors must navigate the dynamics of the market, adapting to changing landscapes. For example, the Adaptation of real estate to accommodate the growing trend of remote work led to changes in office space design and increased demand for home offices. Did anybody see it coming from years back?
The ‘DeLorean’ of real estate is your investment portfolio – a vehicle that can transport you to different financial destinations when well-maintained and strategically driven. Just as Doc Brown meticulously fine-tuned his time-traveling machine, investors must carefully manage and diversify their assets, ensuring they are prepared for the twists and turns of the market. One thing is sure, relative to time, is that real estate is often considered a hedge against inflation. As the cost of living increases, so can the value of real estate and rental income. Real assets like property may retain value in times of inflation.
The ‘flux capacitor’ of real estate might be likened to key factors like location, economic indicators, and market trends – the elements that, when aligned, create the potential for exponential returns. Just as Doc sought the right conditions for time travel, investors must seek the right conditions for their investments to thrive.
Agreeably, real estate developments may have shifted for the better, such as integrating technology to create intelligent cities with advanced infrastructure, energy efficiency, and sustainable practices. Continued emphasis on mixed-use developments that combine residential, commercial, and recreational spaces to create vibrant, walkable communities. Not to be missed is the repurposing of existing structures for new uses, such as converting industrial spaces into residential lofts or shopping malls into mixed-use complexes. Additionally, there has been a transformation of traditional retail spaces to meet the changing demands of consumers, including the rise of experiential retail and the integration of e-commerce and brick-and-mortar stores. Aren’t they all exhillirating?
“Ultimately, the ‘Back to the Future’ of real estate investment is about understanding that each decision has a ripple effect, shaping your financial future. So, strap in, set your destination coordinates wisely, and embark on your real estate investment journey – just like Marty McFly, you can create your own future.”
These are examples of modern conveniences and adaptations we should invest in before time passes. Wherever time comes, please remember that real estate is a tangible asset with intrinsic utility. Unlike some financial assets, real estate has a physical presence and can provide a place to live, work, or conduct business. It can be a long-term wealth-building strategy. Over time, property values may appreciate, mortgage balances decrease, and equity accumulates, contributing to long-term financial stability.
But beware of the ‘Biff Tannen’ of real estate – market risks and economic downturns. Like Biff’s unpredictability, markets can throw surprises. Successful investors like Marty must be agile and ready to pivot their strategies when faced with unforeseen challenges.
In real estate, as in time travel, there are moments when patience is a virtue. Just as Marty waited for the perfect moment to set things right, waiting for the right opportunity can be the key to long-term success.
It is often said that “Patience in real estate is a virtue, but timing is its power. The sweet spot lies in the intersection of diligence and opportunity.
Ultimately, the ‘Back to the Future’ of real estate investment is about understanding that each decision has a ripple effect, shaping your financial future. So, strap in, set your destination coordinates wisely, and embark on your real estate investment journey – just like Marty McFly, you can create your own future.
I couldn’t agree more on the importance of strategic decision-making, patience, and seizing opportunities across the time spectrum.
ABOUT THE AUTHOR: Stevenson’s experience in Philippine Real Estate spans over 15 years. He has been involved in horizontal, vertical, vacation, and commercial properties. He has worked as an International Property Specialist for markets in Asia, Europe, and North America with Ayala Land, Federal Land, and Century Properties. Through PhilHouseHunters, he offers real estate investment opportunities, marketing, and consultancy with a critical focus on Metro Manila and Mega Cebu areas. Visit www.philhousehunters.com. Email at derodarsales@gmail.com.
In New York City, Stevenson is affiliated with Elegran Forbes Global Properties as a Real Estate Advisor and licensed Real Estate Salesperson. Forbes Global Properties is a global network of elite real estate professionals, including brokers, developers, and agents, who specialize in luxury properties. Through Forbes Global Properties, members can connect with affluent buyers and sellers across the globe and showcase their high-end properties on a global stage. Email him at svderodar@elegran.com.)
