Why Real Estate is a Good Investment for OFWs Right Now

Having a home to call your own is a dream that many Filipinos have. Whether this was your goal when you started your career as an OFW or not, real estate is a worthy goal and sound investment, especially if you have a family in the Philippines.

The best time to invest is now.

Given the state of the economy due to the pandemic, investing in real estate can seem risky. This is hardly the case. Most property prices have been frozen for a long period, which means it’s better to invest now to ensure a better return of investment. Many banks and real estate developers have also adjusted their loans and payment terms to make the process of purchasing real estate easier.

Real estate value appreciates over time.

The value of investments such as stocks or mutual funds can change based on several market factors, and sometimes this value decreases drastically. The value for real estate property tends to be more stable and actually increases over time. The sooner you invest in a home and the longer you own it, the better the value of your investment can be.

A family home is the best gift you can give.

With the pandemic and quarantines keeping everyone stuck at home, providing your family with a comfortable, beautiful home is one of the best gifts you can give them. Beyond being just a place for you to bond and relax, the family home is now also an office space and classroom. Purchasing a well-designed home in a secure, gated subdivision is a great way to show your family that you care about their comfort, well-being, and safety.

What OFWs need to consider when purchasing real estate

With careful consideration and the right advice, buying a house and lot in the Philippines can be a simple process. Here are a few tips to keep in mind:

  1. Consider what you can afford, and how much you’re willing to spend.
  2. Consider the location carefully. Is it a prime location? What’s the neighborhood like?
  3. Find a reputable developer. Research about their previous projects and track records.
  4. Choose a trustworthy representative to help manage the transaction on your behalf.
  5. Be ready for all the paperwork. Take it one step at a time to avoid getting overwhelmed.
  6. Research about the different financing options available to you. Weigh the pros and cons of each so you can choose the one that works best for you.

You can read more about these in one of our previous articles called “How OFWs can prepare for home-buying”.

Narra Park Residences has move-in ready units and open lots available for purchase. For more information, call (082) 227-2152 local 216 or visit www.nurtura.ph. For updates, you may also follow @NarraParkOfficial on Facebook.

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