Amid the prevailing coronavirus pandemic, investing their hard-earned money in real estate is among one of the options for overseas Filipino workers.
In a webinar TFT USAPANG OFW: Kaya ko bang mag-invest sa real estate?’, Dr. Karen Remo spoke with Ayala Land International Marketing SRL Country Manager Maribel Curaming and they talked about why OFWs should continue investing on real estate.
Curaming was first asked on where should OFWs invest, in house and lots or condominium units.
“Kung house and lot nga ba or condominium. Dito papasok yung tanong na ano ba yung need mo?,” she said.
Curaming said that buying a house and lot is a better choice for OFWs who choose to stay in a particular area for good.
“Kung ikaw talaga ang gagamit at ito ang end dream mo, then house and lot talaga,” she said.
The Ayala Land official adds that some OFWs choose to buy condo units for ‘passive income’.
“If you want na for rental, I suggest you buy a condo. Less expensive din kasi ang condominium especially pagdating sa maintenance. It’s really a good investment pero depende talaga sa need,” she said.
As a veteran in the real estate market, Curaming cited that some OFWs choose both house and lot and condominiums. She was based in Italy for quite a long time.
“Mas maraming naunang mag invest sa house and lot but we were really happy kasi after nila mag-invest sa house and lot meron na rin silang condomomiums ngayon,” Curaming said.
“They are preparing for retirement so they want passive income,” she added.
Ayala Land also gives some home buying tips for OFWs.
1. Know your purpose. After working abroad for years, an OFW must figure out his of her end goal. “Bakit ka nagpapagod at nagsasakripisyo”.
2. Start with extensive research. Information on different real estate properties can now be found online and information is already available in the palm of your hands.
3. Review your finances. Make an honest assessment of your financial capacity. Investing in real estate is a commitment.
4. Ready your documents. Once you’ve decided to buy a property, government issued documents must be prepared. Proof of income, employment and contract should also be made available too.
5. Assigne a representative. Find someone who will process all the necessary requirements for your housing needs. This can be an optional.
At the end of the day, OFWs invest in real estate because it’s something ‘tangible’.
“Nakikita mo, na-eenjoy mo,” Curaming said. (TDT)