A Missed Opportunity...

Few years ago, an old acquaintance (may his soul rest in peace) mentioned to me that he got a condo unit somewhere in Fort Bonifacio.  He was not a real estate agent (and he didn't need to be one as he was a very well-off man) but he tried to convince me in getting myself a condo there, too.  According to him, it's for investment purposes...

Brilliant idea!  But when I learned that the contract price (at that time!) of units was around a little over one million (as it was on its pre-selling stage then and Fort Bonifacio was not yet as developed as it is now), I backed out!  How could I pay it off with the meager salary I have as a government employee?!  He suggested that I avail of the maximum loan term of say, 20 years, and shorten it eventually when I already have additional means.  The important thing, he pointed out, is I get to own an investment property and start it off with forced savings.  Hard-headed as I always am, I did not heed on to his advise..

Now, I regret that decision.  I heard condo units at Fort Bonifacio cost at around P6 million nowadays.  If only I listened to him.. :(