OFW INVESTMENT GUIDE: What OFWs are Looking for in a Condo Property

Filipino culture is often characterized by having close-knit family ties. However, some of our countrymen are left with no choice but to endure the pain of separation from their loved ones by trying their luck abroad with the hope of giving their family a comfortable life and a better future.

In search of greener pastures, Filipino migrant workers—nurses, domestic helpers, construction workers, teachers, engineers, waiters, etc.—leave their homeland and serve foreign employers so they can earn enough money to send their kids or siblings to school and provide the needs of their family. Overseas Filipino Workers (OFWs) also help boost the Philippine economy through their remittances. No wonder, they are hailed as the country’s modern-day heroes.

According to the Philippine Statistics Authority, an estimated number of 2.2 million OFWs worked abroad from April to September 2019. In the same year, personal remittances from overseas Filipinos hit a record high of $33.5 billion, based on the data from Bangko Sentral ng Pilipinas. The COVID-19 pandemic, however, may have affected their jobs, forcing some of them to return home and lose their source of income.

After braving years of homesickness, and for some, racial discrimination as well as poor working conditions, our modern-day heroes wouldn’t want their sacrifices and hard-earned money to go to waste. So aside from sending a huge part of their earnings for the daily expenses of their loved ones at home, many of them work on their long-term financial goals early on by investing in real estate, stocks and businesses.

If you’re an OFW who’s currently looking for options in terms of property investment in the Philippines, purchasing a premium condo is something that is worth considering. It can be your own dream home, a beautiful place that you can enjoy after retirement with its lovely amenities and safe space. Or you can rent out your unit to tenants and generate passive income. In this list, we’ll tackle what OFWs are looking for in a condo property:

STRATEGIC LOCATION AND ACCESSIBILITY TO KEY INFRASTRUCTURES

Whether you’re searching for a condominium unit that will serve as a family home, a stream of passive income or something to resell in the future, location is one of the most significant things to consider. It is also a big determining factor for the value of the asset. Real estate investments with a strategic location may offer potential capital appreciation over the long run especially if the property is within striking distance to new infrastructure developments. Buyers usually select properties that are accessible to major roads, highways and areas that can be reached through public transport. The condo’s proximity to schools, hospitals, offices, banks, churches, commercial establishments, leisure centers and business districts is also vital for a more convenient and comfortable lifestyle.

Since condo properties are often situated near educational institutions and workplaces, condo living is an excellent choice for OFWs and other investors. For instance, members of their family who are staying in the condo can save time and energy by avoiding long commutes and traffic jams. It can make their sons and daughters less stressed and more productive in their studies or jobs and more importantly, they can have more bonding time with them—something OFWs had been missing when they were still working abroad. Also, the great demand for these strategically located units can make it easier for the owner to lease them out for cash flow.

PERMANENT RESIDENCE

Many OFWs aspire to have their own dream home where they can happily retire and make up for the lost time with their family after several years of hard work. Buying a condo property as a permanent residence is a tangible validation of the Filipino migrant workers’ blood, sweat and tears. Therefore, it must be a comfortable and safe space that is fitting to their lifestyle with a 24/7 security for their peace of mind. Having access to nearby commercial strips and leisure hubs for their convenience and essential needs is also an advantage. Not to mention, there are shared spaces and recreational facilities in the condo village where they can socialize with people from their home country, that’s why a condo is also a great retirement home for an OFW.

Holistic health and wellness is also something that OFWs must consider in finding a new home so they can take care of their mind, body and spirit. An exquisite pine estate condo in Tagaytay is worth checking out for those who want a rejuvenation from the bustling city and a community surrounded by fresh pine trees that gives a refreshing suburban air.

LOVELY VACATION HOME

Imagine enjoying a glass of wine in your family’s dreamy holiday home near a beautiful beach or owning a piece of paradise outside the hustle and bustle of the metro where you can retreat whenever you need to take a break. Breathtaking views and tourism hotspots are also within reach from the condo property so our dear OFWs can experience being a tourist in their own country during their vacation or retirement, exploring panoramic sights with their loved ones. Perhaps the thought of paying rental fees to expensive hotels and Airbnbs makes you cringe or you don’t want to be stressed out by last-minute reservations during peak seasons. If this is the case, you may want to consider buying a condo property that can serve as your second home after weighing its pros and cons.

A resort-style condo is an ideal vacation property for OFWs who are longing for respite and relaxation. They can reconnect with nature while enjoying a nice blend of city and suburban living in a safe and secured community. Their family will also be amused with the luxurious amenities of the property like those in posh hotels. For example, this pre-selling condo in Bacoor has an infinity pool, meditation garden, clubhouse lounge, picnic hubs and al fresco fitness park among other condo perks. Aside from your personal stays and family vacations, you may also choose to rent out your holiday property to aid in paying the expenses when you’re away.

SUSTAINABLE SOURCE OF PASSIVE INCOME

In general, the value of real estate tends to increase over time particularly when the demand for it rises, making it an attractive investment for OFWs aiming to attain financial security. Condominiums can also serve as a passive income-generating property especially if they’re located in key areas of the city. OFWs like you who wish to have a steady cash flow and additional retirement fund can rent out your condo unit to tenants like young professionals, travelers, businessmen, students and starting families. That way, you can make money work for you instead of you working for money after you retire.

Consider buying a condo near tourist destinations, universities, workplaces and central business districts to make it more profitable. Advertise your unit to tenants looking for long-term lease—those who need a place close to their school or office. Another way to earn passive income is by listing your condo unit on Airbnb and taking advantage of the booming tourism industry of the Philippines. You can also ask if the developer offers leasing services so you can use it to earn rental profit even if you’re miles away.

TOP-NOTCH AND VALUE FOR MONEY

Every penny counts for OFWs who sacrificed many years of their lives to seek better employment overseas. That’s why they have to be wise and meticulous in choosing an investment based on their budget. Considering your other financial obligations, which property are you capable of purchasing without falling into too much debt? For more convenient transactions, you can also look for the ones offering flexible payment schemes.

Aside from considering the cost, you also have to pay attention to the quality of the real estate property you are buying and research about its trusted developer. It’s not just about going for the one with the cheapest price—make sure you’re really getting more of what you paid for. Condos are basically more affordable than a house and lot even if they’re most likely to be situated in a prime location like central business districts. They occupy a smaller space than houses yet condominiums include many attractive lifestyle perks and amenities like swimming pools, clubhouses and gyms. You’ll also have access to standard facilities and utilities, lower maintenance cost and secured neighborhood.

Enjoy a Nature View at Pine Suites

Does a premium condo in the Philippines with green spaces, beautiful landscape and luscious pine trees sound appealing to you? Pine Suites can be your next home!

Tagaytay is the most prominent tourism destination in the Philippines. In fact, it is known as the country’s second summer capital. Coming home at Pine Suites will give you a one-of-a-kind condo living because it is lavished with pine trees. These pine trees will not only give a panoramic landscape, but it will also provide you with a fresh scent of suburban air.

EXCLUSIVE CONDO HOME FOR OFW INVESTORS

If you are an OFW, the first thing that you should consider is investing your money right. Hence, you need to invest your money in a trustworthy source such as COHO by Vista Land.

As it is the newest brand for premium and exclusive condo, COHO by Vista Land promises a fruitful condo living because of its top-notch resort-inspired amenities.

Experience a Beautiful Lifestyle at The Hermosa

Bearing its Spanish name that translates into beauty, The Hermosa is true to its nature. Apart from giving the best condo living experience for OFWs, this exclusive abode offers a premium convenience and accessibility to NAIA and MOA. Besides, it is also located within the largest master-planned Vista Global South.

At Hermosa, the possibilities are endless because you got all the best!

Thrive in Urban Transition at The Meridian

If you are looking for a premium abode that caters not only comfort, but also a premium appreciation value, then The Meridian is perfect for you.

The Meridian is nestled at the heart of the thriving city in Bacoor. In here, you will get to appreciate certainly because of the city’s continuous infrastructure and business developments.

COHO’s Resort-Inspired Amenities

In all of its projects in Metro Manila and Metro Cavite, COHO offers the premium resort-inspired amenities. Hence, you can always enjoy the beautiful landscape in the community. In addition, you can splash your way under the sun with its swimming pool amenity.

On the other hand, if you have fitness plans, then you can have it achieved in its fitness gym. There are also function halls available for you in the clubhouse. Once the pandemic is over, you can have some fun with your loved ones and friends there.

If you have children, then they may enjoy the playparks wherein they can have some fun and make friends. There are also basketball courts for those dads and brothers who would like a good match.

Do you also have fur babies with you? Well, good thing about COHO is fur parents and their babies are welcome here! COHO believes that our little furry friends are also part of the family, so they can run around freely in the community. Indeed, living at COHO offers a condo living experience that will truly elevate your lifestyle.

COHO in a Master-Planned Community

When you live in COHO, you get to experience what convenience is really all about. All of its projects are in proximity with all the leisure, business, commercial, educational, worship hubs that gives you a prime access to the finest living.

About COHO by Vista Land

COHO is Vista Land’s newest brand for beautiful and premium condo for sale developments in the most coveted business addresses of Metro Manila. Its modern developments are replete with resort-inspired amenities and exclusive spaces that are perfect for urban dwellers, young professionals, and discerning investors who are ready for what premium city-living entails. Click here to explore more on our website to know more about COHO’s premium condominium for sale development in Bacoor

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Source: https://www.coho.com.ph/ofw-investment-guide/