Why Should OFWs Invest in Real Estate Properties?

Written by: Mel Gimenez

Repatriated Overseas Filipino Workers or OFWs arrive at an airport after being allowed to go home following weeks of quarantine amid the spread of the coronavirus disease (COVID-19), in Pasay City, Metro Manila, Philippines May 26, 2020.

Filipinos are very hard-working. They are willing to go on the extra mile just to attain the hopes of a better life for their families. Due to poverty, it cannot be denied the fact that a lot of us need to go overseas to seek greener pastures. Being an Overseas Filipino Worker (OFW) means sacrificing their chance of being with their families and missing important occasions, such as holidays, birthdays, and anniversaries.

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.

According to the 2019 Survey on Overseas Filipinos, there were approximately 2.2 million Overseas Filipino Workers (OFWs) who worked abroad from April to September 2019. However, based on Philippine Overseas Employment Administration (POEA), the total OFW deployment dropped to 549,800 in 2020, contracting by 74.5 percent, mainly attributed to the travel restrictions imposed to address the rising number of COVID-19 cases in the country.

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.

Reasons why OFWs should invest in a Real Estate Property back home

Something to call your “own.”

OFW – Filipino Family

Since every OFW works abroad to give a better life for their families, they also want to see tangible things that they can call their own to remind themselves of their sacrifices. Owning a piece of property has remained the top valid reason to spend on something. Buying a real estate property is an excellent choice since it is logical to pay for a property for a certain period of time rather than paying monthly rent in a place that will never be owned in the future.

Buying a property can be a gift to your parents or yourself that you can never lose. Properties for yourself are not something you can only own. You will also have the opportunity to pass them on to your children in the future.

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, may be 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, 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.

You don’t need to be 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.

Real Estate Property has an appreciating value.

Real Estate Value Appreciation

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 has the ability to 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.

You can make money from 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.

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.

That is the reason why Golden Haven, the most beautiful and the largest memorial chain of memorial parks in the Philippines, continues to create developments across the nation to have a beautiful memorial park in every hometown. Golden Haven can be seen in over 30 locations nationwide.

Offering a wide range of products, from lawn lots, garden niches, columbarium vaults, to the grandest of them all; the esteemed family estates and mausoleums, Golden Haven provides plenty of options for its clients to invest in. Whichever the choice may be, all Golden Haven clients are assured that their investment is of top quality. The company carries the promise and philosophy of excellence that Golden Haven has been adhering to, to maintain the title of the premier memorial park developer in the country.

As Robert Allen said, “Don’t wait to buy real estate. Buy real estate and wait.”

So, the question now is: OFWs, what are you waiting for? Invest in Real Estate Properties.

Talk to us now and start fulfilling your dream now by investing at Golden Haven!

Why Should OFWs Invest in Real Estate Properties?
About the Author:
Mel Gimenez is an intern at Golden MV Holdings, a Management student at the University of Asia and the Pacific (UA&P)

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Source: https://www.goldenhaven.com.ph/selling-properties/why-should-ofws-invest-in-real-estate-properties/