Saturday, October 2, 2021

Why is investing in a good home the best option for OFWs?

As an OFW, you want the best and everything good for your loved ones, and that is also the main reason why you go out of the Philippines and work overseas. But do you know that having an investment like a house and lot property is the best option that you can have, especially if you want your money to grow once you retired? 

We all know that OFWs experience different types of hardships. They are suffering in terms of physical, mental, social, and emotional. On several grounds, OFWs are actually considered our modern-day heroes because of their sacrifices that help their families as well as their contributions to the Philippine economy.

And because of the uncertainties brought about by the global pandemic, every OFWs should know how to properly allocate hard-earned money to ensure that none of those goes to waste. Of course, every OFWs want every cent of their money to be well-spent. Nevertheless, using the money only to address the needs of the family must be fleeting, so OFWs should also seek stable investment options to make their money work for them as well. Sure, stocks, mutual funds, businesses, insurance plans, and even cryptocurrency can be options. But an investment that is really ideal for OFWs is a REAL ESTATE PROPERTY INVESTMENT.

Here's why: 

1. Real estate properties are hard to steal. 

Buying different tangible assets as investments may be risky. Risky, not because the value could go up and down, but because of how it can easily be stolen from you. Investing in jewelry, for example, maybe an option, but if you do not place it in a safe place, it can be taken away from you anytime. 

This is not the same as investing in real estate. In this kind of investment, for example, if you have a property in the Visayas, or a house in Lumina Sagay, or having an affordable Condo in Cavite, no one will attempt to steal it because, in the first place, you can’t really steal it. And if one attempts to steal it, they should exert much effort to process the documents first. In doing that, one needs to get all the papers first from the real owner. One needs to fulfill the tax declaration from the city, and then one needs to go to the land registration authority, secure BIR clearance, and many others.

Aside from that, real estate property will always remain even in times of calamities. No one can take that away from you.

2. You don't need to become an expert.

Buying real estate property is no small endeavor. Doing it as an OFW who works abroad possesses many challenges, especially now that there is a pandemic affecting everything. However, there is no reason why you should not buy properties if you have your resources, such as time, effort, and money.

In buying real estate properties, you just need to know and ask yourself the three preliminary questions: how much you will spend, will you be able to pay for the costs, and where is the location. Other people may support further details for you. It’s just a matter of deciding the best for yourself.

3. Real estate has a value that goes up in the long run.

The best investment in the market is Real Estate Property. It is the best because there is property value appreciation. Over time, real estate property changes value, and it usually changes for the better. While other tangible things such as cars and luxury items depreciate quickly, real estate can grow its worth even while you are sleeping.

Buying real estate while still working abroad is something that an OFW should consider. Over time, you will just be surprised how much the land would cost when you go back home for good. Basically, the amount of money you will be investing in property now would be a lot higher in the future. It will just differ when and where you will invest.

4. You can make money out of it.

Since real estate has an appreciating value, it will be a win-win situation for you because you will make money from it. One way to make money easily from real estate is to sell it, of course, at a much higher price.

Considering one can make money from their acquired real estate property, this can give a sense of financial security for the OFWs. They can have something to pull back in case of an emergency.

5. It can diversify your investment portfolio.

If you have some investments in the market, experts suggest diversifying your portfolio. By this, you will not lose everything when the market happens to become unfavorable. Investing in real estate property can save you for that. It is the best place to park some of your money. It is also safer than some of the investments available in the market.

While investing in real estate property is the best idea for OFWs, they should also consider WHERE THEY WILL INVEST.

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