For Filipinos who are working abroad, returning home is a cherished thought. It is the one goal that fuels them to work harder. The money they send home not only helps their loved ones but also keeps the Philippine economy afloat. Our modern day heroes risk life and limb to help secure a better future for their families back home. A recent survey by the Bangko Sentral ng Pilipinas says that more households are setting aside money as savings. The percentage of households with savings rose to 35.8 percent.
Filipinos save more for the rainy days as well as for education, retirement, health, hospitalization, business capital and investment, and purchase of real estate. Saving enough cash to buy their own home among the reasons why most of our overseas Filipino workers (OFWs) do not go on a shopping spree but instead, go to the nearest remittance centers to send money back home.
But saving enough cash is not the only option to help grow their money. There are other avenues to make their money earn. Among these options is investing in real estate. Real estate investment is a preferred option for OFWs because it is more tangible and concrete compared to stocks and mutual bonds.
According to moneymax.ph, “Real estate is a good investment because your property has the potential to provide you great returns. Also, if you end up selling your property, you will have a large cash reserve in the millions.”
But deciding to go into real estate has its own risk. OFWs must think long and hard before they dip their toes into investing. The first thing you should ask yourself is “why are you doing this?” You have to set a goal. Are you doing this because you want to avail of an early retirement? Whatever your goal is, below are some of the reasons why you should consider real estate as a viable investment:
1. Consider bare lots. Although buying a condominium or house for sale is also a good idea, OFWs should consider properties that are still vacant. The downside of purchasing a condo is that if you are not going to occupy it immediately, the empty condo will only lead to mounting maintenance fees. But if your purchase a bare lot, you have no upkeeps to worry about. You can just choose to let the value of the lot appreciate then sell it off in the future. Or when you finally decide to retire in the Philippines, you can have your house constructed on your own vacant lot. Another point to consider is if the area becomes feasible for commercial use, the higher the appreciation of your vacant lot. You can resell it for a better price
2. Location, location, location. Try not to fixate your eyes on a single location alone. Consider other areas where property prices are much lower such as those in the provinces. This is ideal for those people who are looking for their retirement nest. You can purchase a bigger land area that can be used for a small farm or rest house. Since prices are lower, you have the option to expand your use for the vacant lot.
3. Look at real estate as something you can build on. Having a home where your family can make memories in is the best form of “pamana.” You will have something concrete and useful to leave behind for your loved ones.
4. It’s always a good idea. Investment in real estate will always sound better as long as you invest with the right company and the right people. In fact, there is a preference shift for emerging markets such as the Philippines due to substantially cheaper compared to developed countries. More investors are turning to real estate to be able to set up shops and residential areas in the Philippines.
But the bottomline is OFWs must find a true partner with a name that has been trusted over the years. Property developer Sta. Lucia Inc. has been built on solid foundation and sound practices. Its early beginnings in 1972 as a developer of subdivisions in Pasig, Taytay, Morong and Rizal has now paved the way to even bigger creations for the real estate company.
Now, Sta. Lucia Inc. is expanding its footprint in Visayas through its thriving communities in Bacolod, Cebu and Iloilo. Part of its ever growing family lies in Mindanao: Davao and Cagayan de Oro. With Sta. Lucia, each development is handpicked with well-thought of designs around human and natural elements. Sta. Lucia Realty believes that growth can only be achieved if it is pursued through sustainable means.
Sta. Lucia Inc. shares the dream of every OFW to create a legacy of a lasting home for every Filipino where they can turn their dreams into a reality.