Luxury housing is a massive financial asset. These investment developments have traditionally been dominated by wealthy foreigners, but many Filipinos have become millionaires in recent decades. It’s a real estate investment in the Philippines that most Overseas Filipino Workers (OFWs) and migrant Filipino families aspire to have.
Today, they are also open to a new generation of savvy Filipino investors. Possession of luxury homes in Manila and Cebu has become the ultimate status symbol for rich, middle-class, and even some lower-class Filipinos who want to show off their newfound wealth.
This hot trend has had a major impact on both property sectors and local economies. Healthcare, education services, hotels, airline services—all these sectors are positively impacted by the influx of immigrant Filipino workers buying up expensive properties.
However, the market for luxury real estate in the Philippines is definitely not for everybody. These premium real estate investments are for the supervisory, executive, and administrative workers. As these properties’ prices are no joke, investing in expensive assets should always be carefully researched.
Top house and lot developers in the Philippines such as Brittany Corporation and Crown Asia are the luxury brands of Vista Land and Lifescapes that offer extraordinary properties that are worth its shiny, glittering price tag.
In this article we’ll discuss why investing in prestigious estates has historically been a good idea, how the Philippine real estate market is getting stronger in Manila and Cebu, what you should know about expensive properties, and how you can profit from this trend as a Filipino looking to make millions of pesos.
Let’s begin!
Luxury real estate is a unique asset class that’s rarely associated with low-cost, high-growth sectors in the Philippines. It’s often found in uptown district locations where wealthy buyers want to show off their success by living close to other well-off neighbors.
When investing in real estate, remember this: the rarer the location, the higher the price.
So if you happen to pass by an expensive-looking condo or housing development in a famous tourist destination, chances are, the prices of these properties are ten times the price of an average sized house in the city.
Also Read: Things You Should Know About Condo Living in a Tourist Destination
Location is the key to live a lush life that you’ve always dreamed of. Think of big townships with vast shopping malls and expensive entertainment hubs. This is where you will most likely see high-end properties for sale.
This isn’t an accident. Historically, people with money have preferred to buy up high-end properties in exclusive neighborhoods, carefully designed to protect their investments.
Here’s list of a few reasons why:
Luxury real estate has historically appreciated faster than average real estate investments because it attracts wealthy buyers who can afford more expensive homes. The Manila Luxury Property Index (LPI), for instance, grew by 34% from 2003 to 2006, compared to the average house price growth of 16%.
It’s less risky when you buy a premium real estate asset versus other types of homes or stock market investments because you’re more insulated against negative economic trends and unpredictable currency exchange rates (like the Philippine strong peso).
The exclusiveness and security that comes from living in a neighborhood of other wealthy buyers comes at a price. Part of the glittering price tag of luxury projects is the top-level security system around the neighborhood.
When you choose to make your fortune in real estate, you’ll often have the opportunity to leverage its value with a complementary business or service as well. Allowing you to turn your luxury property into wealth through more than just its investment value.
Access to additional investment opportunities through VIP services to wealthy clientele seeking to invest in luxury estates. For example, if you want to use your real estate projects as a way of meeting other companies or launching a related service, it’s possible to offer VIP services to wealthy buyers who also want exclusive deals on luxury homes.
Are luxury homes worth it? Here’s what you should know.
Before you jump in with both feet, there are a few things you should know about expensive properties. Especially if you are an investor looking to break into the affluent market. Here’s a list of things that you should know about before paying for the property:
Real estate prices have been rising because of population growth and that’s expected to continue.
Expensive properties are more than just a big house in a Los Angeles-inspired community with an expensive price tag. It takes a concept so unique and superior to regular developments in order to belong in the luxury tier of property developers.
These expensive house and lots for sale in the Philippines are nestled in metropolitan areas with rich economies such as Makati City, Quezon City, Pasig, Cebu City, Mandaue City, Taguig City, Caloocan, Pasay, Davao, and Cagayan de Oro.
Return on real estate investments in these highly-urbanized cities are significantly high mainly because of the progressive growth of industrial, commercial, residential, and transportation sectors.
Naturally, when you acquire real estate as luxury homes, you can expect tight security in the area. Aside from the exquisite design of the houses, the lush greenery, maybe even an olympic-sized pool within the clubhouse, privacy and security are one of the most essential facilities in the themed community.
Brittany Corporation and Crown Asia, for example, two luxury real estate developers in the Philippines that ultimately checks out all the boxes of everything you’d expect and more from an exclusive community.
If you buy a real estate property and plan to sell it within a few years, there’s no guarantee that you’ll get back your initial investment. The property could lose value if the area declines or if money flees the real estate market in general.
Long-term investments are much more fruitful since cities with growing populations are typically great markets for premium properties. It’s much more likely that over time, your property will increase in value and you’ll better be able to leverage its returns with complementary services or businesses to boost its profitability.
Here are some tips for making the most of luxury properties:
Flipping, in real estate, is to buy a property, renovate the interior and exterior of the house, and sell it at a higher price in the future. You want to buy low, preferably during the pre-selling stage. And sell high, when the house or condominium building is constructed and amenities are fully functioning.
You might think it’s impossible to flip luxury homes, but there are certain strategies to play in the market to close the sale.
Look for houses and condos with open floor plans, this gives you more space to customize the interior of the house. For outdoor flipping, you can plant flowers to give color and emphasis. There’s also the option to put up a gazebo, make tree sculptures, build perimeter fences, and outdoor grilling areas. Country homes are also hot commodities since they offer even more space to flip.
Well-off OFWs and real estate-savvy individuals are drawn to luxury real estate that have been revamped because of the modernized furniture and fixtures.
Also Related: Ways to Maximize Property Investment Returns for OFWs
High-end vacation rentals near tourist attractions are hot commodities in the Philippine real estate business and tourism industry. Luxury homes or condos often have a positive appeal to foreign tourists who want the best place to stay in. Consider condos located in tourist destinations such as Tagaytay, Baguio, and Palawan.
You can even acquire condos for sale in the bustling cities of Metro Manila where all the social and entertainment happens. This way, you can yield high returns since tourists want to be near places where the adventure takes place.
OFWs and Filipino travel buffs have the upper hand since they can rent out their property to their foreign work colleagues or friends when they visit the Philippines.
Also Related: How To Rent Out Your House While Working Abroad
There are several advantages in buying residential land for sale and building a custom house. A handful of OFWs prefer to acquire a lot for sale because it’s low-maintenance and an opportunity to build a house according to your preference, style, and budget. Building a house from the ground up in a community deemed fit for the affluent market also has its privileges.
Affluent families lean into residential lots for sale mainly because of the greater customization it offers. These families envision big things. We’re talking about 3-storey mansions, a backyard swimming pool, spacious parking space for their cars, and a basketball court within their land area.
Also Related: Are Lot Only Properties a Good Investment for OFWs?
Now that you know what you’re getting into, there are several real estate companies in the Philippines that offer premium homes and condos located in top cities in Metro Manila. OFWs and real estate investors in the market
Brittany Corporation and Crown Asia, two real estate companies in the Philippines, are Vista Land’s high-end real estate luxury home-builder known for its themed communities and exquisitely designed houses.
Also Read: 3 Golden Rules for OFWs Acquiring A Property
If you are searching for premium houses for sale, Brittany offers quality selection of houses and condos in prime locations such as: Alpine Villas, The Grand Quartier, and Lausanne that make up The Crosswinds in Tagaytay, La Posada in Lakefront Sucat, Portofino Heights, Portofino South, and Amore at Portofino in Vista Alabang, Promenade, Agusta, Belle Reve, and Georgia Club in Sta. Rosa, Laguna.
Brittany is one of the top real estate companies in the Philippines that’s been around for years. It’s the first to conceptualize elegant living in massive sprawling estates. Taking inspiration from the world’s greatest tourist destinations, Brittany brings you scenic views right at your door.
Crown Asia is also one of Vista Land’s high-end real estate developers in the Philippines. The premier property developer has several luxury developments in highly-urbanized areas like Laguna, Cavite, Makati, Mandaluyong, Las Pinas, Ortigas, and Cebu.
With 25 years of redefining residential communities, Crown Asia is committed to build house-and-lots and condominiums within world-class themed developments. You get to experience what it’s like living in Italy, Spain, California, and even the Caribbean Islands as Crown Asia’s housing developments are inspired by these places.
With all the given information, a question still lingers: should OFWs invest in high-end properties? If the financial capacity allows, then go ahead and diversify your investment portfolio. At the end of the day, it’s your choice to invest. Since these properties are not your ordinary house and lot for sale, some Philippine luxury real estate developers are strict when it comes to financial standing and document requirements.
Like in any other investment endeavors, carefully research your options before putting a hefty amount of downpayment. Partnering with a real estate broker who has experience in dealing with luxury homes is also beneficial.
When investing in luxury real estate homes, you need a reliable real estate broker with a good reputation. Vistaland International, the international marketing division of Vista Land and Lifescapes, provides quality service to investors.
The group’s sole mission is simple: to provide a home for every Filipino around the world.
No matter where you are working, trust that Vistaland International can help you find a timelessly elegant property fitted to your lifestyle. You have a diverse selection of affordable to luxury real estate properties to choose from.
And as for OFWs looking for high-end properties either for your family or investment purposes, Vistaland International has official offices in Italy, United Kingdom, Qatar, Saudi Arabia, United Arab Emirates, Kuwait, and the United States of America and real estate brokers and agents in various countries as well.
Vistaland International Marketing, Inc. (VIMI) is the international marketing division of Vista Land. Aiming to provide OFWs and migrant Filipinos a home in the Philippines, VIMI has established long-lasting relationships with brokers and clients around the world.
Get started with your property investments! Contact us today and follow our social media accounts: Facebook, YouTube, Twitter, Instagram, and LinkedIn.
A common misconception people make when they start looking into buying a condominium is they hear a condominium’s life only lasts 50 years.
That is not true. There is more to condo living than that. After all, you invest millions of pesos into owning a condominium unit and all that for 50 years? It does not make any business sense in the real estate industry. And if it did, no one would risk spending that much money for a temporary living space for only up to 50 years.
That is why clearing up this myth is important before you decide on whether or not you should buy a condo unit. Owning a condo in the Philippines has its ups and downs. There are several factors and details to consider before buying one. Ultimately, the best thing for Philippine real estate investors is to be fully informed before making a decision.
It is a common misunderstanding for first-time Philippine real estate investors to think that a condominium project only has a lifespan of 50 years and after that, it gets demolished. This is a myth and one main reason why OFWs and migrant workers are hesitant to buy condo for sale in the Philippines.
Nevertheless, this concern is indeed justifiable. As a future condo homeowner, understanding what happens after 50 years is essential. Does the building get demolished? Do you no longer have any ownership rights after 50 years? What about the property itself?
This article can help you understand what happens to your condominium unit after 50 years. For more information, scroll down.
Upon the final process of purchasing a condo unit, the buyer earns exclusive ownership of the space inside the condo unit. This means they have exclusive rights inside the walls of their condominium units alone. Unfortunately, the land title is not included. The land title is considered as property of the condominium corporation. A single unit owner does not hold the land title on where the condo building is built nor do they have the exclusive ownership of the condo’s common areas.
They only have ownership of the space inside the condo unit. Everything else, such as the common areas, parking spaces, elevators, etc are all shared and owned by the condominium corporation.
To understand Philippine condominium properties, you can take a closer look at the Republic Act 4726. It is a Philippine law that protects the interests of the unit owners of a condominium project.
It states that the condominium property and its unit is considered a corporation and each unit owner is a shareholder of said corporation. Each unit owner holds 1 percent of the corporation.
RA 4726 does not say that a condominium’s lifespan is 50 years. The law is vague about the condo building’s lifespan. But it does heavily imply a 50-year mark.
Under certain circumstances, if the condominium building has existed for more than 50 years and has turned obsolete with a decrease of economic opportunities, then the corporation can vote to demolish the building and rebuild a new building.
Since the condominium is treated as a corporation, each unit homeowner acts as a shareholder, holding a percentage of the total corporation. It acts like a normal corporation.
All unit owners have a voice regarding any changes made to the building. For this, they have to gather around and discuss how to approach any building changes, etc. Whether it is small changes such as repainting the building, or re-tiling floors to major changes such as renovating the gardens, pool area, or installing a new feature into the building.
All changes within the building must be decided on votes. Since all homeowners have a voice and are considered 1% of the entire corporation, they naturally have a right to decide what should be done to the condominium building. This includes building renovations, repairs, and modernizing the building or common areas.
If at the end of its 50-year life span, the condominium building deteriorates to the point beyond any hope of salvation, shareholders can discuss whether or not they should demolish the building.
This is a crucial decision for all condo owners. They can either have the option to sell the building and each homeowner earns a small profit, or they negotiate with the original land developer or another developer to build a new condominium to replace the old one.
If they do decide to replace the old building with a new one, they have to consider the building costs and fees as well.
Like many things we own, buildings also depreciate over time. Building materials can deteriorate. Constant exposure to hot weather and stormy seasons can decrease the building’s overall project quality.
Sometimes a building can last more than 50 years, but the government considers 50 years to be the estimate of when building foundations may deteriorate. But it depends on the quality of the building materials and how the structure was built.
These changes make the building more prone to accidents or less attractive for residents to live in. This leads to people moving out of the building, searching for better quality buildings to live in. At some point, the wear and tear of the building cannot be repaired anymore and the only sensible decision left is to demolish the building and build something new again.
Nowadays, most condominium buildings are built to last longer than 50 years. Engineers and quality real estate developers make sure the building foundation is built with high-quality materials to ensure safety and security against natural disasters. A solid building foundation can prolong a building’s life span to more than 50 years.
But as a precaution, always do your research. Many factors can hasten the depreciation value of a building, such as the building materials, the building foundation and building’s system maintenance, the fire exits, and overall building quality. Take note if the area is prone to floods, earthquakes, or near fire hazard settlements.
If at some point after 50 years the building becomes obsolete and is in decline, then all of the condominium owners can decide whether or not they wish to have the building demolished. They can choose to build a new condominium building or sell the property to a new real estate developer.
This is a crucial point that all condominium owners are required to vote on. If the vote is unanimous and the building is demolished or sold, you as one of the shareholders of the corporation earns the appropriate share of the sale.
If the majority of the shareholders decide to keep the state of the building, then they still retain ownership of their units past the 50-year mark. This means they can continue to live or rent out their units. Their ownership renews for another 50 years which is not bad at all.
To determine the value of a condo, it is important to keep in mind the extra costs included during the ownership period. This includes furniture, appliances, extra home renovations, repairs, and maintenance fees. There are monthly membership fees you need to pay which can accumulate over time.
Other factors can decrease a condo unit’s value. These can be the deterioration of building materials, health and safety hazards, and quality of lifestyle. After 5 decades, the physical appearance of the unit themselves is also prone to wear and tear.
A critical fact you should consider is that owning a condo means you only own the space within your condominium unit. That’s it. As a condo owner, you do not have exclusive ownership rights of the land nor the building amenities. These are all shared and maintained by all condo owners in the building.
But this does not mean the condo value drops to a low point. It just means you cannot sell the land the building is built on. There are still substantial benefits to selling a condominium unit without the inclusion of the land property.
If you want to put up your condo for sale, there are mandatory costs such as the capital gains tax. This is tax the seller is required to pay before transferring ownership to the buyer. If you do find a buyer – after 50 years, then take care to calculate your returns. Depending on several factors, the returns may be minimal.
Price also varies depending on where the condo for sale is located. Time is important since real estate value increases over time. A condo for sale in Metro Manila or in any highly urbanized location may be in high demand compared to condos for sale in areas worn out by urban decay.
Of course not. There are several benefits to buying a condo in the Philippines. Depending on your lifestyle and business goals, a condo property is a perfect Philippine real estate investment.
Compared to landed property, condo units are flexible and are closely located in commercial areas. It is a convenient living space close to work and attracts a high city lifestyle. You or your potential tenants will not have to worry about long commutes to work. Some condo units are also filled with great amenities such as a gym, pool, gardens, gazebo hut, etc.
You can also rent your condominium unit out as a way to make passive income thereby, giving you long-term returns within 50 years.
Another benefit to owning condos is the ability for your children and grandchildren to inherit your properties. You will be able to secure for them a financial source of passive income while they work.
If the condo building and the land get sold to another property developer, you and your heirs will receive a profit from the sale. Like any real estate investment, your condo property can last for a long time, earning you profits even after you retire.
There you have it. This hopefully dispels the negative myths of what happens to a condominiums after 50 years. Ultimately, condominiums are great real estate investments for anyone looking to get into the real estate business, including OFWs and migrant workers.
Even after 50 years, the condominium can generate passive income for you and your family. Just keep in mind the details and lawful processes when the building passes the 50-year mark.
If you are still hesitating or have more concerns regarding condominium units past their 50-year mark, then feel free to contact our Vistaland International real estate agents. You can contact them here or visit our social media accounts, and one of our agents will be happy to address your concerns.
Discover more OFW investments. Connect with Vistaland International today!
For OFWs and migrant Filipinos who are looking for a house and lot or condo for sale in the Philippines, Vistaland International Marketing, Inc. (VIMI) has a diverse portfolio of OFW property investments for you.
Vistaland International Marketing, Inc. (VIMI) is the international marketing division of Vista Land. Aiming to provide OFWs and migrant Filipinos a home in the Philippines, VIMI has established long-lasting relationships with brokers and clients around the world.
Get started with your property investments! Contact us today and follow our social media accounts: Facebook, YouTube, Twitter, Instagram, and LinkedIn.
Applying for overseas work for the first time? As a future Overseas Filipino Worker (OFW), you might want to prepare yourself when you encounter a whole new set of cultures and bouts of homesickness while working abroad.
Working abroad is not all glitz and glamour. Most OFWs know that when you’re working abroad, you need to make certain sacrifices such as giving up buying expensive things in order to send money back home in the Philippines. The money is usually spent on monthly utility bills at home, the children’s tuition fees or projects at school, or monthly amortization if they have bought a house and lot in the Philippines.
Culture shock, as defined by Investopedia, is a sense of anxiety, depression, or confusion that results from being cut off from your familiar culture, environment, norms when living in a foreign country or society. Migrant Filipinos experiencing culture shock may go through four different stages of honeymoon, discomfort, adjustment, and acceptance.
Most people would downplay it as a simple feeling of being surprised when you discover a new culture. But it is actually something deeper that when not handled properly, can lead to serious mental health problems.
Along the way, as you begin your journey as an independent OFW, you would start to feel homesick. But before you would even begin to feel this, there would be cultural differences that would come as a shock. You would be surprised as to how other countries behave and go about their daily life.
According to Participate Learning, culture shock impacts travelers even after they have settled in the country and become comfortable in new cultures. There are four stages of culture shock that OFWs may experience: honeymoon or euphoria, frustration or discomfort, adjustment, and acceptance.
During this phase, OFWs feel as though living abroad is the best decision they have ever made. The honeymoon phase is when migrant Filipinos experience infatuation with the ambience of the country, language, food, and people.
OFWs should always keep an open mind and try to avoid comparing the country you’re living in to the Philippines.
This particular phase is said to be the hardest stage to overcome. Once the excitement fades away, the frustration of not understanding their language or social norms will take a toll. OFWs may feel irritated at the smallest things such as forgetting a certain task at work or waking up late.
It might take a few months to a year to finally adjust to the new living environment. Your frustrations would go away as soon as you finally get the hang of the daily commute, speaking their language, gaining friends, and familiarizing with the streets and neighborhoods.
The final and last stage of cultural shock is the acceptance phase. This is where you finally come into terms with the living conditions. It is at this stage that migrant Filipinos gather their resources to feel more at ease in their new home.
There can also be a fifth stage of the culture shock process. Reverse culture shock happens when OFWs return home after living abroad for a year or so. You will quickly realize that the place and people are different from when you left.
Your children may have grown taller and developed a whole new attitude. Your home may either feel too big or too small for your preference. The shopping mall that you used to go to every weekend may look smaller compared to the supermalls abroad.
You would have a hard time re-adjusting or going back to normal because you have also changed your personality abroad.
Culture shock is one of the most difficult parts in traveling and living away from your home in the Philippines. Recognizing your feelings and creating healthy habits to cope can help migrant Filipinos avoid spiraling downwards in their career.
What is normal in the traditional home in the Philippines, can be considered as a shock to other countries’ culture. As OFWs, it’s important to learn the etiquettes, customs, beliefs, and traditions in the host country you are staying in. When you are going to live in a country where English is not the primary language spoken, it is also best to learn the language of the locals. Even the basic phrases or words such as “good morning”, “good evening”, “thank you”, “you are welcome”, “what”, “when”, “where”, “who”, “how much”, “yes”, “no”, and “how are you?” can come a long way.
Learning the language is also a sign of respect towards the people that you are going to spend time with. It will also help you socialize, gain friends, and avoid being scammed abroad. On top of learning and embracing new traditions, you should always take time to actually learn these things and not rush it.
OFWs will learn even more norms about the host country when you go out and make friends with your co-workers. When you voluntarily immerse yourself with their culture, you will begin to understand why they behave the way they do or how certain mannerisms came about. You will begin to appreciate and respect their culture when you learn their history.
Cultural appreciation is a conscious effort to broaden your horizons and establish a deeper connection with the locals cross-culturally.
If you feel as though you’re starting to miss your loved ones back home in the Philippines, you can always call them up and leave them a message when they are busy. Your feelings are valid, you shouldn’t pretend otherwise. It’s a healthy habit to have someone to talk to when you are going through the four stages of culture shock.
OFWs who have already spent so many years working abroad know how the feeling of going through such a mix of emotions and having no family nearby to talk to.
As migrant Filipinos living in a new country, it’s natural to adapt to the eating habits of the country you are based in. You might eat more pork than usual or you might completely switch to a vegetarian lifestyle. During your stay, you will long for the food in a traditional Filipino home setting such as Adobo, Lechon, Sinigang, and Tinola.
You might find yourself either eating too much or eating too little because of the heavy workload. Obesity, high blood pressure, and heart problems are just among the common health problems OFWs face abroad. You might also find yourself drinking and smoking more than usual because of social peers.
It’s important to get your daily exercise, eat healthy food, and drink your vitamins to maintain great physical and mental health.
Not only are you adapting to a new home environment, you are also learning how to cope with a different behavior. Putting a limit to your expectations will reduce anxiety and feeling down when some things don’t align with what you had in mind.Talk to your agency about the things you should expect especially if you are a first-time OFW.
In line with Tip #1, thoroughly research about the country you will be living in beforehand. Learn about their crime rates, how they respond to new people such as tourists or immigrants, their transportation system, etc. Conducting good research will help you speed up the process of moving in and adapting to a foreign land.
A new set of traditions to follow and remember while at the same time not forgetting your own set of beliefs can be quite stressful. Open-mindedness is a crucial trait that every OFW and migrant Filipino should possess. You should be able to grasp the full understanding of their culture, how it came to be and why people do it, without judging them or feeling as though you are superior towards them.
If a fellow co-worker reacts differently when you make a joke, they might have a different perspective on it because of their beliefs or how they grew up. As you open your mind, it will be easier to recognize the differences and put yourself in their shoes.
Bonding with your fellow kababayans is easy because you share the same feelings and hardships. You go through the same experience of finding a place where you can belong in a foreign country. As you interact with your co-workers, they might know an OFW that you can make friends with. It is in our intrinsic nature to be friendly and welcoming. So having a Filipino friend can ease the pain of homesickness. You can freely express yourself in your native tongue all day. You now have someone who can relate to your struggles and accomplishments abroad.
It’s great to have a healthy distraction when you start to feel homesick. There are several activities OFWs can try out at home. Cooking Philippine dishes, trying out yoga, meditation, and starting a mini vegetable garden, are some of the things you can easily start as a hobby that can have a positive impact on your physical and mental health.
Having a worthwhile hobby helps with the loneliness and anxiety brought by homesickness. It can distract yourself from stress at work as well. Hobbies can also be a way to vent out all the stress and pressure from a long day at work.
For most OFWs embarking on a new journey in life, having an end goal in mind can get you through the deepest lows in life. A goal can be anything, to save money, to buy a car, or to buy a house and lot for sale in the Philippines.
Take for example you want to buy a house and lot in the Philippines. You can set objectives and money-saving strategies to achieve your goal. For OFW investors, buying a house and lot in the Philippines while working in another country is not as easy as you think. Talking to various real estate agents in the Philippines when you’re in a different timezone can be overwhelming. To arrive at this goal, you must be disciplined in saving enough money to pay the bills at home while setting aside money for the monthly amortization of your house and lot in the Philippines.
The same principle is applied to any kind of personal goal. Whether it’s a big milestone to achieve or a simple objective, self-discipline is the key to achieve any kind of goal.
Lastly, accepting that you are going to be away from your family for quite some time is an essential step to successfully adapt to a foreign land. Recognize the signs and symptoms of homesickness and culture shock. All OFWs and migrant Filipinos go through a period of culture shock and homesickness. It’s important to have a healthy coping mechanism to avoid potential burnouts and mental health problems.
Life as an OFW is not all travel goals and more money. It’s challenging and most of the time it’s an emotional rollercoaster. But with all the hardships in between successes, it’s definitely a journey worth taking. Once you feel at home, you’ll treasure the new found friends and memories you have made.
Connect with Vista Land International!
To every Overseas Filipino Worker (OFW) and migrant Filipino who are looking for a house and lot or condo for sale in the Philippines, Vistaland International Marketing, Inc. (VIMI) has a diverse portfolio of OFW property investments for you. From socialized housing developments to condominiums for sale in the Philippines, VIMI can satisfy the dream of every OFW investor to provide a worthy home to live in. Send us a message today!
Vistaland International Marketing, Inc. (VIMI) is the international marketing division of Vista Land. Aiming to provide OFWs and migrant Filipinos a home in the Philippines, VIMI has established long-lasting relationships with brokers and clients around the world.
Get started with your property investments! Contact us today and follow our social media accounts: Facebook, YouTube, Twitter, Instagram, and LinkedIn.
Mabuhay Philippines!
This coming Saturday, June 12, 2021, marks the 123rd anniversary of the Philippine Independence Day. This is an important event in Philippine history when our Filipino ancestors successfully freed themselves from under Spanish rule.
This is considered one of our country’s greatest achievements. Therefore, it holds a special place in every Filipino’s heart, including OFWs and migrant Filipinos from abroad.
Filipinos celebrate this anniversary by holding local festivals and colorful parades. Families gather under one roof to eat traditional Filipino dishes such as Adobo and Sinigang. Some even buy Lechon to celebrate. Philippine malls and Filipino businesses also hold events and exhibits to celebrate Filipino tradition and culture. At night, there are fireworks.
Philippine Independence day is also one of our national holidays. It is a common sight to see street vendors selling Philippine flags. Flags are taped over cars, businesses, houses, and even on T-Shirts. Government buildings are closed for the day and Philippine Flags are raised at full mast. Kids at school also dress up in traditional Fililipino clothes such as the “Barong Tagalog” and the “Maria Clara”.
For OFWs and migrant Filipinos working abroad, encountering fellow Filipinos can brighten their day. They take great pleasure in sharing camaraderie with fellow Filipinos abroad. And when it comes to Independence day, they celebrate by gathering together and eating traditional Filipino food such as “Pancit Canton”, “Fried Lumpia”, “Kare-Kare”, and many more.
Migrant Filipinos across the globe also created their Filipino communities. They welcome any OFWs or visiting Filipinos and create for them a haven where they can mingle and share their own experiences without feeling out of place.
The Philippine Independence Day did not happen overnight. There were several people and events which led to the revolution. All of which are recorded in our Philippine history books. However, there are some facts which may not be officially recorded.
In the past, there was some confusion on the actual date of Independence. Andres Bonifacio declared it on April 12, 1895, and Emilio Aguinaldo declared it on October 31, 1896.
During the early 19 century, Japan granted the Philippine Independence on October 14, 1943.
The United States of America also granted the Philippine Independence on July 4, 1946
On May 12, 1962, President Diosdado Macapagal proclaimed for Independence Day to be on June 12, 1898.
Kawit, Cavite is the place where Emilio Aguinaldo gave the independence day speech, declared independence day for the Philippines, and raised the Philippine flag. Kawit, Cavite was also where the Philippine National Anthem was first heard.
Recorded in Philippine history, the revolution started in 1896. This led to several attempts of fighting against Spanish rule and failing. Eventually, a truce was established in 1897 between the Spanish colonial government and the Filipino revolutionaries.
As part of the agreement, the Filipino revolutionaries were sent into exile in Hongkong.
It was during the outbreak of the Spanish-American war that America became allies with Filipino revolutionaries. With the Filipino revolutionaries’ help, the United States of America won the war and Emilio Aguinaldo declared Philippine Independence on June 12, 1898.
The design of the Philippine National Flag is represented by white, blue, and red colors, yellow sun with eight beams, and 3 yellow stars. The blue color represents peace, truth, and justice. While the red color represents patriotism and valor.
The eight sunbeams symbolize the eight provinces that were held under martial law during the revolution. And the three stars surrounding the sun represent Luzon, Mindanao, and Panay, now changed to the Visayas.
The first flag was sewn by Marcela Marino Agoncillo and first displayed in the Battle of Alapan, on May 28, 1898.
Following the official newspaper of the Philippine Revolution, La Independencia cited that the first anniversary of the Philippine Independence was held in Angeles, Pampanga.
More specifically, the anniversary and reenactment were held in the “Pamintuan mansion”. The anniversary begins with a marching band playing the national anthem before parading on the main streets of Angeles, followed by the ritual unfurling of the National flag.
Celebrating Philippine Independence Day is always a happy event. With cheerful music, good beer, and delicious food, Filipinos love to party and are around the company of friends and loved ones. Because for Filipinos, food is an important way to bond with family and relatives. During holidays, there is always a delicious spread ready with many Filipino food favorites.
What’s more, OFWs and migrant Filipinos are also not shy to invite their acquaintances and co-workers over to share the celebration. Many foreigners who experienced the warmth of Filipino hospitality and tasting Filipino food were filled with nothing but praises.
Even countries with heavily injected OFWs and migrant workers joined in on the celebration. With parades, picnics, charity causes, contests, and beauty pageants, countries show their gratitude and appreciation by hosting these events.
A tradition that started in 1990, the Philippine Independence Day Parade takes place on the first Sunday in June. The Philippine Independence Day Parade takes place in Madison Avenue, New York.
It is considered the biggest Philippine Independence Day celebration outside the Philippines. Every year, the parade draws a large crowd, especially OFWs and American Filipinos born from earlier generations of Filipino migrants.
The cultural parade is filled with colorful floats representing the best of Filipino culture, its history, and most importantly, the Philippine Flag. Aside from the parade, there are other events as well.
There is a Street Fair and a Cultural Show which showcases Filipino heritage. It reminds migrant Filipinos of their heritage roots and allows them to participate in their culture.
There are also pageant contests such as the Diwa ng Kalayaan. Filipino celebrities also make an appearance.
The Philippine Embassy in Japan organizes exciting events to host the Philippine Independence Day. Sometimes commercial companies cooperate with the event by offering promotions and discounts. Hotels also celebrate the event by hosting food exhibits and cultural shows.
This year, the Philippine Embassy in Japan is happy to celebrate the 123rd anniversary of Philippine Independence Day. To promote Filipino culture, the “Eats More Fun in the Philippines” campaign was held this April. It has met with success. To celebrate Philippine Independence Day, Hard Rock cafe branches are offering their Filipino menu for the whole month of June.
There are no physical events due to Covid this year. Instead, the Philippine Embassy in Japan will host an online program on the Philippine Embassy’s Facebook Page.
About 750,000 OFWs are living in the UAE. That means OFWs make up to 25% of the entire Dubai population. Organizing the Philippine Independence Day event is the Bayanihan Council.
Because of the Covid Pandemic, celebrating Philippine Independence Day at a location is put on hold. Instead, the Philippine Embassy is hosting a virtual Independence Day Concert which can be accessed on youtube or the Philippine Embassy in UAE Facebook page.
Last year, to commemorate the Philippine Independence Day, the UAE leaders lit up their tallest building, the Burj Khalifa with the image of the Philippine Flag. Filipino communities also live-streamed the events with appearances from Filipino celebrities, hosting contests and events, and even playing local Filipino bands. Philippine Government officials also made live speeches to honor OFWs living abroad.
Canada is no stranger to celebrating Philippine Independence Day. There are thousands of migrant Filipinos in Canada. Most of them already have families, raising second and third-generation Filipino-Canadian migrants.
Every year, the Metro Vancouver Philippine Arts and Culture Exposition Society hosts the Philippine Independence Day on the second week of June. The celebration takes place at a landmark venue, the Waterfront Park of North Vancouver, British Columbia.
The event marks the commemoration of the Philippine Independence Day on June 12, 1898. The celebration is formed in the style of a “Barrio Festival” where there are song and dance performances, field parades, and a showcase exhibit of Filipino culture and heritage.
There are food booths readily available to try out native Filipino dishes and delicacies. Visitors may even find the infamous “Balut” or sample some Filipino alcohol. Merchandise booths are also available, displaying local Filipino products at affordable prices.
Thousands of Filipinos, people of multi-ethnic origins, and curious visitors join the event to experience traditional Filipino culture. It is always a vibrant celebration where everyone is invited to join in. The event is held for 2 days for lots of fun and activities.
If local Filipinos from the Philippines travel to Canada during Independence day, they should give this place a visit.
However, because of the COVID-19 pandemic, there may not be any physical events held this year.
The Philippine Independence Day is a reminder to all Filipinos about their struggle and country’s fight for freedom. The sacrifices our Filipino ancestors made and their courage to stand up for their rights and freedom.
The spark that set off the revolution was the execution of 3 Filipino Catholic priests, aptly referred to as the Gomburzas. They were beheaded for speaking out for equal rights among Filipino priests against the Spanish friars. Their execution brought a great realization of social inequality to many Filipinos, including Jose Rizal who later wrote his novels, Noli Me Tangere and El Filibusterismo.
His novels inspired a propaganda movement for lobbying political reforms in the Philippines. Spain reacted badly and suppressed any Filipinos suspected of rebellion. It backfired, creating fear and dissent among the Filipino community.
This encouraged many Filipinos to join a secret group known as the “Katipunan”, led by Andres Bonifacio. The Katipunan represented opposition to Spanish rule. It continued to grow until they were eventually discovered by political Spanish enforcers.
This led to several bloody battles across the country. It set in motion a series of politically historical events. Patriotic men and women rose in arms to fight against Spanish oppression that lasted for 300 years. At the end of the conflict, they are celebrated as heroes and become symbols of patriotism.
And we as Filipinos, celebrate the freedom they gave us, by hosting fiestas, and participating in parades that proudly show our Filipino heritage and culture.
Every Filipino from all over the world has a reason to celebrate Philippine Independence Day. Gathering together with fellow kababayans, eating delicious Filipino foods, and drinking Filipino beer is just one way for Filipinos to celebrate their independence from Spanish rule for over 300 years.
It is also to honor the sacrifices of our Filipino ancestors who lost their lives during the bloody revolutions. Because without their courage and strength, Philippine history might be different today.
This is a reminder that Filipinos are a strong and resilient race. Despite having been colonized by different countries, Filipinos never lost sight of what is important: preserving Filipino culture, tradition, and having a strong family community. Their ability to adapt to any situation is admirable. And their hospitable nature is second to none.
However, because of the global pandemic, outdoor celebrations are not yet encouraged. They are banned for the time being. Other options are virtual celebrations or just hosting your private get-together with close family and friends.
To all the OFWs and migrant Filipinos out there celebrating Independence Day, Mabuhay Philippines!
Here in Vistaland International, you can get started on your property investments in the Philippines anywhere in the world. We have international offices based in Italy, United Kingdom, Qatar, United Arab Emirates, Kingdom of Saudi Arabia, United States of America, and Kuwait.
Send us a message today! You can always read through our blogs for more info and updates and search for a property for sale in the Philippines here.
Vistaland International Marketing, Inc. (VIMI) is the international marketing division of Vista Land. Aiming to provide OFWs and migrant Filipinos a home in the Philippines, VIMI has established long-lasting relationships with brokers and clients around the world.
Get started with your property investments! Contact us today and follow our social media accounts: Facebook, YouTube, Twitter, Instagram, and LinkedIn.
If you ask any Filipino what their biggest goal is or what they are wishing for, their answer would consist of: a car, a stable job, financial growth, and a modern house and lot. On the other hand, ask any migrant Filipino worker the reason why they work so hard abroad and you have one answer: to buy a house and lot (some may say build their own custom home.)
Undoubtedly, a modern house and lot for sale in the Philippines is high up the wishlist for every Overseas Filipino Worker (OFW). Most OFW home buyers spend time delicately planning their finances in order to afford a home of their own. OFWs would set aside a huge portion of their salary in order to finally buy a home.
They would also spend countless days talking to various real estate developers just so they could get a good overview of the Philippines real estate industry. Migrant Filipinos would even go the extra mile such as buying cheap meals abroad so that they could save more money.
The homebuying process could be overwhelming, especially for first time homebuyers. That’s why it is essential to decide if you want to buy or build your dream home.
In this article, we have lined up the benefits of buying and building your home.
Before buying a home in the Philippines, it’s best to create a criteria of how your dream home should be like. Ask yourself these questions:
Also related: OFWs’ Investment Guide to Buying a Property While Abroad
When you opt to buy a modern house and lot in the Philippines, make sure that you also consider if you want a ready for occupancy home or a pre-selling home. Your choice between the two will determine how much money you should save and how long you have to wait for the house to finish the construction.
But whether you settle for an RFO home or a pre-selling house and lot, there are three benefits that come with purchasing a home.
Most OFWs and local Filipino citizens often prefer to buy a modern house and lot for sale in the Philippines. For obvious reasons, buying a house and lot package is an easier and conventional option for most people.
Compared to buying a residential lot for sale, having a house constructed from the ground up takes a lot of paperwork. You are also saving a lot of time, money, and effort in finding the right professionals responsible for your home construction. Think about it, you would not have to worry about securing various permits, paying more money for the house construction, and hiring workers, contractors, and designers.
Buying a modern house and lot package is cheaper compared to buying a residential lot for sale and building a home. Especially if the home is still at a pre-selling stage when prices are affordable and financial options are flexible.
OFWs usually settle for a house and lot package because it’s basically buying two things with one payment. You would not have to worry about the cost of construction materials and skilled laborers since the developer is responsible for procuring the needed materials.
Needless to say, a modern house and lot unit for sale brings convenience to families who do not have the time and resources for house construction. Purchasing a ready home is also a more convenient option for families who wish to move in as soon as possible since there are RFO house units available.
Interested in buying a house and lot for sale in the Philippines?
For modern house and lots in the Philippines, there are developers such as Bria Homes, Lumina Homes, and Lessandra that offer affordable packages in multiple regions and Camella Homes that offer homes with more space.
Bria Homes is a socialized housing developer in the Philippines with projects located in cities and municipalities. Bria has a one-bedroom rowhouse, one-bedroom bungalow, two-bedroom townhouse, and the newly released three-bedroom bungalow house unit. You can opt to buy a Bria house unit under the Pag-IBIG financing option in select Bria communities.
For their available homes for sale, click here.
Lumina Homes is a real estate developer in the Philippines that offers affordable homes. Although a bit pricey compared to Bria Homes, Lumina offers townhouses and single firewall homes. There are also row houses available in select Lumina communities nationwide.
Check out Lumina’s available house units here.
Needing no introduction, Camella is well-known to provide quality homes in the Philippines. Camella Homes communities are located nationwide with master-planned communities in certain highly-urbanized cities. Camella has eight house models to choose from, available under bank financing.
Check out Camella’s spacious homes for sale here.
Also related: Which Vista Land Home is The Best for OFWs?
Purchasing a residential lot isn’t a first choice in buying a home for most Filipinos. What’s customary, however, is to buy a modern house and lot package in a secure neighborhood within the city.
It can be quite a challenge to find a perfect home in the market. If that’s the case, there is always the option to buy residential land and build a custom home that fits your preference. While it is practical to buy a house and lot package, there are also several benefits of buying a lot and building your custom home.
As a tangible and long-term real estate asset, land doesn’t depreciate and nothing could be stolen from it. It’s a relatively hands-off type of real estate investment.
Building your house from the ground up allows maximum control of how you want your house to look like. It offers flexibility. Many OFWs have a lot of interior ideas and themes in mind, but sometimes it won’t align with an ordinary developer’s modern house and lot package.
Maybe you want a bigger space for your kitchen or you want enough space for your cars. Or maybe you want to go all out and build a four-storey house unit with an underground basement with a 360 degree balcony. Whatever the reason may be that a pre-designed home unit can’t satisfy you, custom build homes could be the best option for you.
People usually opt to invest in a plot of land when they want to secure a property investment. Since it is a piece of land, nothing could be broken and or stolen from it.
Your land’s condition will remain the same after a few years. So it’s very easy to maintain making it fitting for OFW investors who spend most of their days away from the Philippines. As long as you do your due diligence in checking up on your property, you wouldn’t have any problems.
You’re basically the boss once the land title has been transferred to your name. So you have full control on how you want the house construction process to go about. Since OFWs spend most of their days abroad, they don’t have to worry about when to start their house construction.
Before diving head first into land investments, there are a few things you should know about.
The most important factor to take into consideration is location. Choosing the right location for your dream home should be the first thing you should think about. If you wish to stay within the city, there are communities that offer lot only properties at the side-skirts of the city. And if you choose to settle down beyond the metro, there are also several master-planned communities that offer quality homes.
Location also plays a great factor in determining the value appreciation rate of your investment. If it’s close to the city, then there’s a higher rate of appreciation because your land is near business establishments and has a lot of foot traffic. On the other hand, land value appreciation of those properties outside of the city isn’t as high as those within the city.
Investing in land comes with a great responsibility. Just because it is a relatively low-maintenance investment doesn’t mean you can disregard your property. Remember that since you are the boss of your own house construction schedule, you also shoulder the responsibility of obtaining permits, documents, and utility applications for your Wi-Fi connection, water, and electricity.
Real estate developers often have themed communities where you have to implement their desired theme to your home. They also require you to see your floor plan and house layout to see if it fits their standard.
It is also very important to note about the property setbacks. Setbacks are rules that determine how far your home must be set from the road or from the neighboring lot units. You also need to think about how big your home will be in comparison to your lot size so that it won’t be a problem to your neighbor in the future.
Also related: Advantages of Buying Residential Lot and Building a Home From Scratch
As for most OFWs, buying a modern house and lot would be the most practical way in acquiring a home but some also choose custom build homes, including the designing. Do your thorough research and create a financial plan to finally secure a home for your family. At the end of the day, it’s all in the matter of what you prioritize the most.
If you prioritize convenience, buying a house and lot package is the best choice because you wouldn’t have to stress about hiring a contractor, securing building permits, and buying construction materials.
However, if you are willing to wait and want to be creative, then custom build homes rightly fits your standards. Building a custom home takes a lot of time and physical effort. Remember that you have to be patient and trust the process.
Team up with a professional real estate salesperson that will help you find the right home that you want and fits your budget.
For over a decade, Vistaland International Marketing Inc. (VIMI) has provided homes, condos, and investment opportunities to OFWs and migrant Filipinos. With the primary goal to help a simple OFW’s dream, Vistaland International has international offices where you can talk about what kind of home you are looking for. Trust that our real estate broker will find you a property that is suited for you.
So to OFW home buyers looking for a modern house and lot for sale in the Philippines, Vistaland International Marketing, Inc. (VIMI) has a wide roster of property investments for you. Send us a message today to know which home best suits your needs.
Are you an OFW or a migrant Filipino looking for ways to expand your income? Kick start your career with us. Join Vistaland International by filling out the form here.
Vistaland International Marketing, Inc. (VIMI) is the international marketing division of Vista Land. Aiming to provide OFWs and migrant Filipinos a home in the Philippines, VIMI has established long-lasting relationships with brokers and clients around the world.
Get started with your property investments! Contact us today and follow our social media accounts: Facebook, YouTube, Twitter, Instagram, and LinkedIn.
Overseas Filipino Workers (OFWs) and migrant Filipinos are known for their serious work ethics and money saving tactics. With so many years spent working abroad alone, the thought of coming home to their family and indulging them with gifts made them live in frugality and simplicity. For that, they deserve a quality house and lot package built to last for future generations.
There are several real estate developers marketing their house and lot properties as the better investment option to OFWs. And while Vista Land may be one of those developers, here is what makes Vista Land stand out from the rest.
Being a Vista Land homeowner has numerous returns of investment. You get to see a continuous development of shopping malls, churches, schools, transportation services, and even an in-house telecommunication company within your community. Having amenities built gradually when you already reside in a certain Vista Land house and lot project is one of the reasons why these housing projects have high value appreciation rates.
Value appreciation aside, Vista Land communities are thoroughly planned right from the get-go.
For OFWs and migrant Filipinos, you are assured that your families in the Philippines live in a safe and well-developed subdivision. Before a community is developed, amenities that improve the standard of living of future homeowners are measured out. Even the smallest returns of investment are meticulously considered – from swimming pools and jogging paths down to shopping malls and its loyalty programs for regular shoppers.
Because OFWs and local Filipino buyers spend millions of pesos just to acquire a house and lot in the Philippines, you instantly get special rewards from AllRewards when you move into a Vista Land property. AllRewards is a customer loyalty program by AllValue Holdings Corp essentially designed to encourage shoppers to earn points from respective retail stores at Vista Mall or StarMall nationwide.
All new homeowners of Vista Land get a free AllRewards Card where you can benefit from discounts, promos, and vouchers whenever you shop at the following stores: All Home, All Day, AllAmerican, AllToys, AllSports, Coffee Project, Bake My Day, Finds Finds, Vista Cinemas, KinderCity, Rufo’s, Chicken Deli, Market Liberty, and My Mother’s Cupboard.
For every PHP400 purchase at any of these stores, you get one (1) point. You also earn a fraction of a point when you make a purchase below the PHP400 minimum requirement.
Since most Vista Land house and lot and condo projects are situated near AllHome and AllDay stores, you can shop and dine conveniently without worrying about traffic and commute.
Fun fact: You would never have to worry about having your AllRewards membership card renewed because it will remain functional as long as you keep using it!
You might think of the AllRewards Card as merely a token of gratitude compared to the enormous savings you have invested away in a house and lot. But just like the little things in life, these small points go a long way. As you continue to use your membership card, your accumulated points can be used to pay for your purchases.
For select Vista Land communities, your AllRewards Card will be given on your move-in day.
Here is an exclusive preview of privileges you get from simply having an AllRewards card!
When you have just moved into your new home and you need groceries or a few house essentials, you can shop online at All Day and All Home’s website stores and get PHP250 off your purchase. Also, you also get additional mobile app vouchers when you download their mobile apps.
For Brittany and Crown Asia homebuyers, you get a gift card of PHP3,000, PHP5,000, and PHP10,000 for purchases at PHP100,000, PHP150,000, and PHP200,000 at All Home respectively. (Note: This promo runs until March 31, 2021.)
While there are also a few developers in Vista Land that give away All Home Gift Cards when you reserve a house and lot unit, these giveaways are offered for a limited time only.
Appliance offers vary from developer to developer. Each developer has its own appliance package offer and usually, these packages are offered at a limited timeline. These types of offers are what you, as a homebuyer, should keep an eye on because these are essentially discounted items when you buy a home. You would not have to worry about buying new home appliances when moving in because the developer already has an exclusive offer for you.
Homebuyers can freely reach out to AllHome’s Interior Design Department to help them in designing their house and lot unit. A free interior design consultation is given to homebuyers who have not yet purchased products from the AllHome store.
Having assistance in regards to your home’s interior design can ease the burden of finding the right home aesthetic on top of the process of moving in. You would not have to worry too much in finding the right curtains or the perfect couch for your living room since AllHome’s Interior Design team has got you covered.
Pro tip: Partner up with AllHome’s Interior Design Department before buying furniture and appliances at AllHome. This way, you are assured that you bought the right home furniture and appliances that go along with what you want your house and lot unit to look like!
By investing in a house and lot, you also get to enjoy countless discounts, freebies, and limited edition brand merchandise from your specific Vista Land community. Truly, Vista Land is at a whole new level when it comes to the standard of living in their communities. Imagine you just bought your first home investment and immediately upon reservation, you get exclusive giveaways that can help when you finally reside in one of the best communities in the Philippines.
These promos from AllRewards are beneficial for OFWs and migrant Filipinos who have spent a huge chunk of savings on your new home. You would not have to worry about spending more money on new home furniture and fixtures because Vista Land has move-in packages ready for you. Even when you are working abroad, your family can live a rewarding life that you have always dreamed of giving them.
To every Overseas Filipino Worker (OFW) and migrant Filipino who are looking for a house and lot or condo for sale in the Philippines, Vistaland International Marketing, Inc. (VIMI) has a diverse portfolio of OFW property investments for you. From socialized housing developments to condominiums in the Philippines, VIMI can satisfy the dream of every OFW investor to provide a worthy home to live in.
As the international marketing division of Vista Land, we provide several financial growth opportunities for OFWs’ real estate investment in the Philippines. Become an OFW investor and grow your real estate asset with VIMI! Connect to us via our live messenger button or contact us here.
Most municipalities in the Philippines with business districts are fast-developing zones. OFWs and migrant Filipinos should also know that prices of house and lots for sale and condominiums are double in figures. Even house and lots for sale around other municipalities are the same. With this, would you rather invest your hard-earned money in stocks or mutual funds or will you consider scouting in locations where you can find a better investment such as an affordable house and lot for sale in the Philippines?
Highly urbanized cities have expensive rates for real estate as land is scarce compared to rural areas. If an urban area is not right in your budget, the suburbs or the side skirts of urban areas are the next best choice as a rule of thumb in real estate. If Metro Manila is your target, why not look for locations where travel time is in close proximity to places of work and essential hubs?
Here are your options to find an affordable house and lot for sale in the Philippines.
Cavite is now minutes away from Manila. With numerous highways and bypass roads now in place such as the Cavitex, Callax, and Diversion Roads. When LRT line 1 Cavite Extension is finished, you can reach Manila from Bacoor in only 15 minutes. Developments are now booming in these areas of Luzon where you can find developments with different prices and schemes. Consider the north of Bacoor which is beside Alabang or the south side beside Las Pinas.
Another area of interest in Cavite is Tanza, Trece Martirez, and Naic which are all near the industrial hub of the South and the soon to operate Sangley Point Airport. Imus, General Trias, San Ildefonso, and Silang Cavite are now a tolerable travel destination from Manila. Especially during -ber months where the climate is cooler. Other locals use their properties as their weekend and family homes in these areas. For OFWs and migrant Filipinos looking for an affordable house and lot for sale in the Philippines that is located in Cavite, these are the areas of your choice.
There are also options for OFWs looking for affordable house and lots for sale in the Philippines in Laguna. San Pedro Laguna was the first exit going south of the South Luzon Expressway when MCEX exits were not established yet.
This gives OFW property investors the chance to look for development in Laguna province which is near Manila to have provincial surroundings and yet in proximity to Makati, Alabang and Paranaque. San Pedro and Calamba are great choices with historical places and cultural heritage haven attractions.
An access road going to Tagaytay like the Carmona and Sta Rosa Exits are also good places to invest in. This is also a place for job opportunities because of the number of industrial parks and manufacturing firms in the South. Golf courses and tourist attractions such as the famous Taal Volcano view are also located here.
Valenzuela is one of the industrial capitals of the North. In this city of Metro Manila, hundreds of manufacturing and warehouses for essential goods are stored for distribution. The north of Valenzuela connects its industrial zone to the north of Caloocan which leads to the provinces of Bulacan and Quezon City. Areas of development here are Bignay and Deparo. You need to travel for 20 minutes if you are going to Novaliches and Fairview, Quezon City where Commonwealth Avenue, the biggest road connection to Metro Manila via EDSA, from the north is located.
Caloocan has 2 development areas: the south where Monumento and NLEX are connected and the north area where the industrial area and most subdivisions are located. This part of Caloocan also besides Meycauayan and the City of San Jose Del Monte Bulacan. With the upcoming operations of MRT 7, these areas will surely boost the value of properties in the next 5 years.
Bulacan is home to many of the country’s great artists. There are historical sites and fascinating ecological attractions, and indigenous arts and crafts in this province. The nearest municipality of Bulacan to Metro Manila is the City of San Jose Del Monte where the last station of MRT 4 is being constructed. Besides this municipality are Norzagaray, Meycauayan, and Sta Maria. If you take the North Expressway, Sta Maria, Hagonoy, and Malolos are 30 minutes away from the transportation hubs of EDSA. You can find large community developments of affordable house and lots for sale in the Philippines in this province. This area is also the favorite destination of local workers in the north of metro manila.
Aside from being the pilgrimage capital of the Philippines, Antipolo is known for its cool climate and high land development growth. Ortigas and Quezon City are just a few minutes’ drives away from this area after crossing Cainta. MRT line 3 is an option to travel to get you connected to Manila and EDSA. One of your many choices of affordable house and lot for sale in the Philippines in this area is the highlands of Antipolo. It connects other municipalities like Angono, the home for local artists and cave of hieroglyphics, and Baras which is known for the Sikaran martial arts.
In these areas are also Binangonan, the newest part of Manila’s conurbation, and Pililia where the wind-mill attraction of the east is located. People who love to see the mountains and enjoy cooler temperatures towards the end of the year are suggested to look at these locations for affordable house and lots for sale in the Philippines.
The mountain ranges of Rizal are located in Antipolo and Rodriguez Montalban. With the same climate and atmosphere, you can find different types of development for an affordable house and lots for sale in the Philippines in this location with direct access to Quezon City. You can take the Payatas road going straight to Litex of Commonwealth avenue or you can take San Mateo Road to connect to Sandigan bayan using the San Mateo-Batasan Road. This area is also near Marikina City which leads to Katipunan Avenue, where top universities are located such as the University of the Philippines and Ateneo De Manila.
The suburban area is the next big thing after urban areas that are fully saturated. These locations will offer great potential opportunities for OFW investors and will make sure that your investment funds will gain a lot in affordable house and lots for sale in the Philippines.
As the international marketing division of Vista Land, we provide several financial growth opportunities for an OFW’s real estate investment in the Philippines.
Become an OFW investor and grow your real estate asset with VIMI! Connect to us via our live messenger button or send us a message here.
Etched in history, the Philippines has extensive literature of Filipinos being nomadic creatures – characterized by being in one place to another. Purposely these primitive people are in search of a vista that will suffice to meet their need for a shelter and access to primary commodities. The resumption of this primitive behavior may be inferred to as shift cultivators exemplified best by our Overseas Filipino Workers (OFWs) and migrant Filipinos.
According to the Philippine Statistics Authority, even amidst the pandemic there are more than 2 million immigrant workers, also known as Overseas Filipino Workers (OFWs) across the globe. Often hailed as the Modern-Day Heroes or ‘Bagong Bayani’, migrant Filipinos are succinct to say the desirable pedigree of the international labor market.
In terms of fundamental variety of skills, Philippines holds the basin of overflowing manpower including medical practitioners, factory and manufacturing workers, teachers, administrative workers, clerks, seamans, and IT professionals hounded by affluent countries like Saudi Arabia, Qatar, Kuwait, United Arab Emirates, Australia, Oman, United Kingdom, Bahrain, Angola, Brunei, and other neighboring countries in Asia.
Admit it or not, the notion of having better career opportunities outside of the country attributed to OFWs and migrant Filipinos’ decision to work or live abroad. One of the feats – better compensation, often three times higher than the average wage received locally. Imagine being able to afford a house, purchase a condo, buy hectares of land, or even venture into new investments in the Philippines.
As appealing as it may sound, the hunting process of the job you wish to acquire won’t take place within just a flick of your hand. You will shuffle in between searching for the job you would like, processing credentials, it is imperative to attend to all obligations here in the Philippines before leaving, and lastly, set up your living accommodation. As these predicaments arise, you will need all the assistance you can muster, and that includes the aid of government-owned agencies you should know.
Photo: Manilla Bulletin
Multiple cases of aspiring Overseas Filipino Workers defrauded by illegal recruiters with ghost job offers, soliciting placement fees, and other ways to dupe the applicants were reported. The abatement of this nuisance proved to be quite challenging as the scammers use facile methods to deceive Filipinos.
Unfortunately, there are still individuals who prefer taking the shorter route and with the absence of proper knowledge on how to prevent succumbing to this falsehood, also relies on how the government addressed these drawbacks from the roots in the first place.
Established in 1982, Philippine Overseas Employment Administration or POEA is mandated to promote and monitor overseas employment of Filipino workers by considering the need for maximum employment opportunities, protecting OFWs from recurring incidents of abuse, and while adhering to egalitarian principles on employment practices.
Conforming to the list of Modus Operandi of illegal recruiters released in an article by the former, the public should take account to wit:
On the other hand, POEA regulates the participation of the private sector in the recruitment and overseas placement of workers through a systematized licensing and registration process alongside the private institutions involved. They manage a vast network of licensed recruitment and manning agencies, foreign principals, employers, or project arrangements to meet the international demand for the Filipino workforce.
Photo: OWWA Website
In pursuant the passage of the Republic Act 8042 or the Migrant Workers and Overseas Filipinos Act of 1995, Overseas Workers Welfare Administration decreed to strengthen the implementation to wit:
Amidst the continuing onslaught of coronavirus disease 2019(COVID-19), latest figures from OWWA Covid-19 Related Assistance to OFWs, more than 500,000 Filipinos successfully returned to their home regions. Upon their return, the OFWs and migrant Filipinos were accorded with airport assistance and received sufficient accommodation and quarantine facilities. On the other hand, despite the brewing tension in Israel, there are no active repatriation efforts yet. Nonetheless, should the situation call for it, the Philippine government guarantees that they will charter flights for the OFWs.
For the complete list of requirements to avail each trainings and programs, showcased by the Overseas Workers Welfare Administration (OWWA) simply visit click here:
Pre-Departure Education Program
a. Country-Specific Pre-Departure Orientation Seminar (PDOS)– A one-day compulsory orientation to OFWs consisting of modules on employment contract, country of destination, stages of the OFWs’ life abroad, health and safety, financial literacy, travel tips and airport procedures, and government programs and services. This is attended by all workers (all skills) prior to their deployment abroad.
b. Comprehensive Pre-Departure Education Program (CPDEP) – A four or six-day orientation seminar attended by Domestic Workers (DWs) consisting of language training, culture familiarization, and stress management.
Training Programs for Filipino Seafarers
a. Seafarer’s Upgrading Program (SUP) – Job-related training assistance for upgrading courses of up to P7,500.00
*Succeeding availments every after three (3) recorded membership contributions.
Requirements:
b. Mariner’s Dugtong Aral (Bridging) Program – A scholarship grant for prospective seafarers who are graduates of BS Mechanical Engineering (BSME) and BS Electrical Engineering (BSEE) who wish to pursue BS Marine Engineering (BSMarE) course, in the following order of priority:
Reintegration Preparedness (on-site) consists of value formation training, financial literacy, entrepreneurial development training, techno-skills, and capacity building.
Reintegration (in-country) includes job referrals, business counseling, community organizing, financial literacy seminar, Networking with support institutions and social preparation implemented by OWWA Regional Welfare Offices (RWOs).
Balik Pinas! Balik Hanapbuhay! Program – A package of livelihood support/assistance intended to provide immediate relief to returning member-OFWs (distressed/displaced) amounting to a maximum Php 20,000.00 as start-up or additional capital for the livelihood project.
Overseas Filipino Workers – Enterprise Development and Loan Program (OFW-EDLP). Formerly known as OFW-Reintegration Program (ORP), is an enterprise development intervention and loan facility of OWWA, in partnership with Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP), intended to support enterprise development among OFWs and their families.
Tulong Pangkabuhayan sa Pag-unlad ng Samahang OFWs (Tulong PUSO) – A one-time grant assistance in the form of raw materials, equipment, tools, and jigs. and other support services, that aim to support the formation, enhancement, or restoration of livelihood projects/undertakings of OFW organizations. The amount of grant shall be based on the project requirement up to a maximum of P 1 million for OFW organizations with more than 51 members.
Here is the runner up for government agencies OFW’s should know about:
Photo: Philippine Information Agency
Otherwise called as PAG-IBIG Fund, was established on June 11, 1978 pursuant to the Presidential Decree No. 1530. The main functions of this office are to manage the national savings program of the country while providing affordable shelter financing for the Filipino people.
With the signing of the Republic Act of 9679, under the PAGIBIG Overseas program, migrant Filipinos are now mandated to register in HDMF as a member, regardless if employed by a foreign company. In partnership with POEA, accessible remittance facilities are available to collect PAG-IBIG membership contributions from OFW’s.
The minimum contribution amounts to Php 100.00 without charging fees, they are welcome to increase their contributions. The result of the monthly contribution earns an annual dividend accredited to the member’s account, respectively.
As for the PAG-IBIG housing loan, it is only eligible to members with following qualifications:
1.) at least 24 months savings,
2.) Not more than 65 years old (at the date of loan application and is not more than 70 years old at the date of loan maturity),
3.) Legal capacity to acquire and encumber real property,
4.) No Pag-IBIG housing loan foreclosed, cancelled, bought back, or voluntarily surrendered,
5.) If with existing Pag-IBIG Housing account or Short-Term Loan (STL), payments must be updated
One of the comical facts and perhaps known to Filipinos is that returning OFWs and migrant Filipinos went home with a substantial sum from years of working abroad. Unfortunate ones, if not abused or maltreated, they came back home with nothing. Understandably, a huge percentage of the OFW’s and migrant Filipinos may raise their eyebrows or turn skittish to sound investments.
They might even counter, why bother? We can save it in a bank where it is kept safe. Yes, you have access to it anytime you would want to make a quick rendezvous to a store. Yes, that amount you worked for will be there – untouched and with a minuscule annual return.
You see, keeping it in the bank only stagnates the alternative option of growing that hard-earned money into a long-term wealth? Who knows, it may be the reason for you not to go back to work overseas anymore. Knowing the best cash flow businesses to venture into is the trickiest part. Acquiring a property of your own seems plausible and a hot trend nowadays. Apart from the fact that prices of properties appreciate monthly, staying in a newly turnover house and watching a movie with your loved one’s sounds appealing to you? Or basking in the sun, overlooking the panoramic view from your condominium seems exhilarating too, right?
As you build your real estate assets, the market value of your properties increases as well. Therefore, you may be able to utilize what we can refer to as asset management. It is a way of cultivating the market value of the property or among other types of assets; hence there is increase in returns.
You may subject the portfolio of assets like: 1.) Residential properties, 2.) Commercial properties, 3.) Mixed-use properties, for both business and residential, 4.) retail properties such as storefronts, and 5.) Vacation properties for seasonal residence, as an investment asset by selling it to investors according to its current market value for profit or perhaps, you can have it leased out which may serve as your passive and additional income since it doesn’t require you to materially participate.
Just bear this in mind, investing goes hand in hand with saving. All we need to do is to take a risk and believe in our own judgement.
Invest at Vistaland International and become an OFW investor!
To every Overseas Filipino Worker (OFW) and migrant Filipino who are looking for a house and lot or condo for sale in the Philippines, Vistaland International Marketing, Inc. (VIMI) has a diverse portfolio of OFW property investments for you.
Vistaland International Marketing, Inc. (VIMI) is the international marketing division of Vista Land. Aiming to provide OFWs and migrant Filipinos a home in the Philippines, VIMI has established long-lasting relationships with brokers and clients around the world.
Get started with your property investments! Contact us today and follow our social media accounts: Facebook, YouTube, Twitter, Instagram, and LinkedIn.
Many OFWs and migrant Filipinos have searched and took a chance to pursue their dreams outside the country with all hopes in mind to provide a better opportunity for their families here. OFWs became the modern-day heroes giving everything for their loved ones to the extent of leaving their homeland and going to a foreign land where cultures are too different from their own.
With all the efforts and sweat they worked hard for, OFWs make sure to invest their hard-earned money in lifelong opportunities that will sustain their families. Because not all the time, they are away striving. They also want to rest and be with their families back home.
Some OFWs have invested their money in businesses intending to sustain them in the future. But who would have thought that a pandemic will come and will primarily affect the whole world’s economy? No one. Thankfully, the pandemic has taught everyone, especially the OFWs, to put up pandemic-proof businesses. If there’s a good thing that came about from this pandemic is establishing new ways of earning in the comfort of our homes.
The pandemic has caused businesses to shut down, resulting in bankruptcy. Some other companies continue with their business operations and retain a strong position in the market with the right strategy, introducing new, creative, and in-demand products and services using the internet to promote, gain and engage with customers. That’s what it needs to have a pandemic proof business. A pandemic proof business can withstand the rise and fall of a pandemic crisis.
Do you have a pandemic-proof business? If yes, may it continue to thrive more and secure a branded business. If none, continue reading, and we’ll give you ideas of what pandemic proof business you can start.
Many challenges rose when the pandemic hit the entire world, but it also motivated the people to strive more. Below are some ideas of which businesses are in demand now that you can start.
The market is changing, and you can now use social media for advertising your products and services. We listed down below some of the products and services you can provide.
Online stores or markets are highly in demand right now because they provide easy access to goods and services. With a simple browse on the phone, your customer can choose different varieties of needs they have. It saves them time and energy. Customers don’t need to go out and risk their lives contracting the virus. Many vendors already shifted to online stores and started selling their products because most of them have easy access to the internet. Some don’t even need the things they purchase online; they just got curious about the product, so they decided to purchase one.
One factor online store owners should also take into consideration is how they advertise their products. Their market strategy should be appealing to their market audience. The pandemic also caused a large volume of emerging online stores not only in the Philippines but worldwide.
It is a pandemic proof business because you will be selling essential products and services that people will always buy. It is easy to create an online store in the comfort of your home. You can start with yourself or gather a small team within your family or friends to start right away.
Some of the products and services you can offer are listed below:
Essential goods are always in demand. Food, home maintenance, or even products that will help one drive away boredom offered online.
Many have discovered baking and creating a new variety of dishes that are sold online. Whether it is home-baked cookies, freshly baked bread to blueberry cheesecakes, milk tea, a recipe you have to learn during a pandemic, or your family recipe, start selling it. Advertise with a good strategy, and you are good to go.
Fast-food chains and restaurants are restricted to maintain a certain number of customers. From being fully loaded with customers, restaurants are now limiting the customers they entertain. A surge in food and beverage delivery resulted. Even at home, Filipinos can enjoy their favorite food and beverages.
Many are taking the time to use their free time to declutter things and sell them online. Second-hand items that still look new can be helpful to other people. You can engage or advertise it through live selling.
People are now staying home, unable to go outside and shop. Online shopping became a one-stop shop for everyone. With that, an increase in parcel deliveries emerged. Transactions nowadays are mostly done online, and deliveries are essential services. Transport and delivery is also a necessary service during this pandemic.
Money transfer, remittance centers, and bills payment are essential to consumers and our country’s economy. Filipinos who need funds and receive money are imperative consumers. In a month, no person doesn’t accept and sends funds.
OFWs worldwide sacrificed seeing their loved ones grow by preparing a greener pasture for their family. They choose to secure their money on long-term investment like in the industry of real estate investment. Not only that, OFWs have helped our economy as they send their dollar remittances to their families, they help keep the Philippine economy afloat. Records show that in about 11 months, OFWs managed to send 30 billion dollars. With this, they become OFW investors investing in Philippine real estate.
Many of the OFWs and migrant Filipinos have decided to invest their hard-earned money. Some became OFW investors investing in Philippine real estate. Time has proved that real estate proved to be a solid investment. When it comes to Philippine real estate, OFW investors don’t have any regrets in choosing to buy a house and lot in the Philippines because property values appreciate in time.
Doors have opened for real estate investment because of the pandemic. Due to the pandemic, property prices have frozen for a significant amount of time. It opens an opportunity to invest in real estate now as it promises a return of investment in the coming years.
The first thing OFW investors come to mind is how they would want their savings secure and last long. OFW investors should also consider what type of property they are going to do. They can buy a house and lot in the Philippines or a condo unit in the Philippines and rent them for monthly income or wait for some time and sell it to the desired amount. It is what Philippine real estate guarantees OFW investors, and they will not just acquire a property in their name but also reap a return on investment they have made.
Some OFW investors also consider buying a house and lot in the Philippines to have and make it their home. Filipinos are known to be family-oriented. They want to acquire a property of their own to build memories and relationships. Philippine real estate guarantees long and profitable years that can sustain their families. Indeed, Philippine real estate is securing OFW investors’ money-tied and crisis-proof. During a pandemic, their money is kept secure and doubles in a significant period.
A good investment in Philippine real estate requires patience and trust until it reaps. An OFW investor’s house and lot or a condo in the Philippines will reward them through passive income, as mentioned above. Whether you’re an active or retired OFW residing in one of the properties acquired, your OFW property investment will be the source of income of your family. Your property investment can become the property that will provide for your family’s needs.
If your house and lot or condo are in nearby schools or offices, you can have it rented. Condos in the Philippines with complete amenities near a tourism spot would be an excellent hit for travelers.
If you have an old property in a strategic location, have it renovated to become a newly structured building for a commercial cause. It would be perfect for cafés with a good ambiance and interior.
Besides investing, OFW investors decide to acquire a house and lot or a condo unit in the Philippines because they want to own a primary home Something they can see as tangible proof of their hard work and efforts for decades. Acquiring personal properties is the top reason why OFWs and migrant Filipinos invest in Philippine real estate. Why choose to rent for an extended period when you can have one under your name? OFWs and migrant Filipinos don’t work for an extended period away from their families to see their money on a temporary investment.
OFWs and migrant Filipinos’ primary goal is to settle down with their own families back home. A place where they can freely renovate while they enjoy doing things they like while relaxing with a sense of security with their loved ones, OFWs only come home for a short period and spend most of their time sacrificing another occasion to provide. As the famous phrase says, “there is no place like home” OFWs want to come home with a place they can proudly say they earn it with their sweat and blood.
The Philippines has a lot to offer, whether in real estate or other industries. In the middle of a pandemic, how do you pandemic proof your business? Your future? How do you deal with the crisis without prior notice? Having the attitude to adapt and be flexible in an economic crisis quickly is very important. The need to respond urgently to your consumer’s needs is one factor in building your branding.
Making the most of the available opportunities in front of you will secure your position in the marketplace. Make use of the internet. Discover how the internet is slowly monopolizing consumers. Investing in your skills will also add to your target investment.
Pandemic-proof businesses also invest in branding strategy. They acquire knowledge that will help them sustain a strong position in the marketplace with the proper process and creative advertisement. Thriving to be at the top of success could be slow and draining but knowing what to attract your consumers is a good start.
Learning what type of business is the first thing an OFW and migrant Filipino should be their priority. It knows where they could buy a house, and a lot in the Philippines could either be a home to build to settle down with your family or property to lease on a commercial basis. Choosing the next decision and strategy to do would take a lot of research do’s and don’ts. But what’s important is having a goal or a plan that should give your investment a return of value.
Nothing is easy. If you must do things over and over again, then do it. If you must acquire new skills, then study. Investing in our self and development first should be our top priority. It will be the foundation of our future ventures.
Still don’t know what type of business to put up and invest in? Go and find yourself a mentor in which field you want to pursue. Never stop learning. Never stop dreaming.
In the middle of a pandemic? Filipinos are resilient, and we can withstand even the strongest storm ever landed.
The prevailing pandemic didn’t just destroy dreams and ambitions, but it also motivated everyone to create new and bigger dreams.
What are you waiting for? Secure your money’s value and invest in long-term and profitable investment!
Become an OFW investor today! Invest at Vistaland International
Vistaland International offers different kinds of real estate assets to ordinary Filipinos as well. Having one of the largest real estate companies in the Philippines as part of their selection of real estate investments, VIMI aims to provide quality homes that are built to last for future generations.
Vistaland International Marketing, Inc. (VIMI) is the international marketing division of Vista Land. Aiming to provide OFWs and migrant Filipinos a home in the Philippines, VIMI has established long-lasting relationships with brokers and clients around the world.
Get started with your property investments! Contact us today and follow our social media accounts: Facebook, YouTube, Twitter, Instagram, and LinkedIn.
It is not a secret Overseas Filipino Workers (OFWs) are the strong majority of real estate growth in the Philippines. Majority of OFWs and migrant Filipinos dream of saving enough money from working abroad to build their dream house and settle on a better life. And to build family roots that can last several generations.
For this dream, they endure the loneliness of being away from their families while working abroad for many years. They would only return to the Philippines for vacations and important family occasions. Reuniting with their families is always a sweet event because they rarely get together as a whole.
With the money they saved up, they can finally have the house of their dreams. But the home buying process is not easy unless they already know someone who has experienced the same thing. Fortunately, the real estate market in the Philippines has seen significant growth and stability even during the pandemic. There are several buying opportunities for OFWs and migrant Filipinos to choose from.
There are several helpful tips in this article to help provide OFWs and migrant Filipinos an idea of what it is like buying a residential lot and building a home from scratch.
To read more about the pros and cons of buying a residential lot and building a home from scratch, scroll down below.
To build their dream house, overseas Filipino workers need to understand there are several things to consider:
Buying a residential lot or land can be daunting. After all, there are several options to choose from. There is so much paperwork and government fees to be considered before thinking about buying a residential lot for sale.
Finding a good location to build a home is important. Some prefer to have their house in the mountains, others by the sea or even within the city center. It depends on the buyer’s preferences. Keep in mind property prices within the city are more expensive compared to the countryside.
Residential city properties are getting more expensive since the Philippines has seen a rising boom in telecommunication companies and many younger Filipinos prefer to stay within the city to avoid the traffic rush. Residential city properties are scarcer therefore, prices naturally increase due to high demand.
One important thing to consider when purchasing a residential lot is safety. The Philippines has its fair share of thefts, criminal activities and acts of terrorism. Learning to protect against these things is important. It may be safer to live within gated communities that have a roving and stationary security guard at the entrance gates. Do research first and see which areas have low crime rates. Choose a safe area and install a high fence with CCTV security cameras around your home.
Finding a licensed real estate agent or broker to act as the middleman between the buyer and the seller can ease a lot of headaches. Especially if the buyer is still new to the real estate industry. A real estate broker is vital in making sure all the papers and requirements for land purchase are ready and accounted for. They can also instruct the buyer on what to do during the purchase process, what to do next, etc.
Usually, when looking at online residential lot listings, the real estate broker will post their contact information along with the property listing. It is important to find a reliable agent the buyer can trust. If the buyer wants to verify the real estate broker’s license, they can visit the Philippine PRC website and check if their name is in the database.
More importantly, the real estate broker may have more access to property information that the buyer is not aware of. Real estate brokers also have more property investment options for the buyer to choose from. It is always a good thing to find a real estate broker that is looking out for the buyer’s interest.
Buyers need to be aware of the taxes that must be paid during real estate transactions. It always involves more than one fee such as:
There are two ways to purchase a residential property. The buyer can either pay for the residential property in full or get a loan from the bank or apply for a housing loan from Pag-IBIG. Unfortunately, not many Filipinos can afford to pay the full price so they can opt for loans instead.
Housing loans from Pag-IBIG are a popular choice for overseas Filipino workers. Pag-IBIG is a Philippine program owned by the government. It is designed to help Filipinos buy affordable homes through loans and programs. Pag-IBIG is a trusted source for housing loans.
To be eligible for a Pag-IBIG housing loan, the Pag-IBIG member must be:
For the requirements, the Pag-IBIG member must present:
For more information, you can visit the Pag-IBIG website here.
There are several benefits from deciding to build a home however, the process can be complex and may take quite some time to complete. The buyer must be committed to the project from start to finish.
Especially when problems pop up, which they will, the buyer must keep a calm head and find a solution. They must be willing to put long hours into building a home from scratch. However, there are a few easy routes to building a home from scratch such as hiring a licensed contractor.
There are a few important things to consider:
Building materials are the key foundation of building a great long-lasting home. Buyers must not overlook the material quality when building a new house. But they also need to stay within the budget so this can sometimes be tricky. For example, there is a difference between good quality cement mix and cheap quality cement mix. People can tell at a glance if the house is made with cheap or quality materials.
For one thing, cheap materials will not last for a long time. They may last for one year and then after that, it starts to wear down. Cracks may appear on the cement walls. The paint starts to peel off due to the heat. Or worse, the house may end up being infested by termites because of poor lumber quality.
Instead of saving money, the buyer ends up spending more on repairs and renovations. Not to mention the costs of hiring laborers to fix the house isn’t cheap. Maintenance fees will also rise if the repairs are not fixed immediately.
For some, being your contractor or hiring local contractors can have some benefits. Hiring local laborers is cheaper compared to hiring a licensed contractor from a land development company. But the downside is, the buyer has more responsibilities and must have a tight grasp of everything, from instructing the laborers to overseeing the entire process to ensuring all building materials are accounted for.
If they prefer to let someone else handle overseeing the building process, they can hire a licensed contractor with their manual laborers. This is much easier since they already come with experience and they have a rapport with the crew of manual laborers under their employment.
Fortunately, with the rise of land real estate development, there are several licensed contractors and land development companies available to help build new homes for OFW investors.
Construction costs on a residential lot depend on the total area, location, and type. The buyer must also write down a list of materials needed and their cost, the service fee of the builder and workers that will be hired, and other additional fees. And this is just a rough estimate.
For a more detailed budget, the buyer must list down every item of work, construction equipment fees, labor hours, and number of construction workers. It is important to prepare a detailed budget to have an easier cost estimation.
If the buyer hires a licensed contractor or land development company, then they can ask for a document that lists the details of the construction cost.
Designing a house is always a fun and creative process. Buyers can design a house depending on their preferences. This allows them the freedom to design a house they can live in comfortably and with ease.
Some buyers may prefer seeking a professional architect to help design and customize their house. An architect’s role is to listen to the buyer’s goals for their new home and draft a layout blueprint. They can also assist the buyer in brainstorming solutions to any problems that might pop up and answer the buyer’s questions about the design process.
However, professional architect fees are not cheap. Buyers can have the option to forgo hiring one if it is out of their budget. On the other hand, they can hire licensed contractors instead. Some licensed contractors or real estate land development companies offer several ready-made blueprints of different house designs. Buyers can simply choose which house design they want and the contractor will build it on top of their land property.
There are also Philippine websites that sell house designs. They have several house design themes available such as modern, contemporary, Asian modern, Mediterranean, etc. You can check Philippines House Designs’ official website for more info.
Pros and cons of buying a residential lot and building a home from scratch
Pro:
Con:
Overall, buying a residential lot or land is a great investment. Real estate land will never lose value. Instead, its value will rise over some time. It has sustained smart investors for years. And can be used as an extra source of income.
But no one can say whether it is better to buy a residential lot and build a house from scratch. This is up to the buyer’s personal preference. It might be cheaper to buy a house from a contractor and let them build it on the buyer’s property. That is why it is important to research first before making a final choice.
Make sure to gather all the important information, especially estimate costs, and property location. It is also important to do some background research on the people who will be involved in the house project such as the real estate broker, licensed contractors, or land development companies. It is important to learn about their previous clients or projects to make sure they are reliable and can be trusted.
Ultimately, the journey of buying a residential lot and building a house from scratch is always a daunting yet exciting adventure.
Talk to us!
At Vista Land International, we can help you find the right lot property where you can finally build the home of your dreams. You can look through our different properties and read our blogs for timely news and trendy topics. Send us a message today!
Vista Land International Marketing, Inc. (VIMI) is the international marketing division of Vista Land. Aiming to provide OFWs and migrant Filipinos a home in the Philippines, VIMI has established long-lasting relationships with brokers and clients around the world.
Get started with your property investments! Contact us today and follow our social media accounts: Facebook, YouTube, Twitter, Instagram, and LinkedIn.
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