Ever since the Covid pandemic occurred back in 2019, businesses have shifted online. That includes the real estate business. With the number of property listings posted online increasing day by day, the online exposure of real estate in the Philippines has doubled and even tripled since then. There are a handful of benefits with this and it can be seen as a win-win situation for everyone.
Communication and access to information have become more convenient. All you need is a device with internet capabilities. If you want to look up houses for sale in the Philippines, then a quick Google search can pull up results in seconds. Easy access to information also cuts down interactions between buyer and property owner, removing unnecessary chit-chat and diving straight to the point.
There are several online platforms that post real estate listings. This allows interested buyers to easily scroll through hundreds of available real estate posts. They can view the information and even contact the person who posted the property within minutes. Online property listings can be like online shopping where you simply scroll across several property posts and click on the post that catches your eye.
However, some property listings seem too good to be true. The price is cheap compared to other properties around the same area. Or the uploaded pictures look great. But at a closer look, they can be deceiving. As a buyer, you also need to protect yourself against fraud or falling victim to regretful decisions.
This article can help you learn how to tell genuine online property listings from fraudulent ones.
Short and simple, here are the three Ps you need to keep in mind when looking at online property listings:
Price is one of the keystones in the decision-buying process. Once you figure out your budget, you can start searching for available online property listings.
The real estate price is estimated per square meter. Add that on top of building material costs, labor costs, installment of electric and water amenities and etc make up the sum total of the real estate price. Naturally, the larger the lot size, the higher the price gets.
Take note that what is listed on the post may not be the final price. You still have to consider paying the taxes and transfer of ownership fees. And if the property is old and bought as is, then it might need some renovation works. You would have to calculate the costs of that as well.
The best way to figure out the real price is to talk directly to the property seller. It is more convenient to have a direct conversation with the property seller in order to figure out the real price, what costs the buyer will shoulder, and additional tax fees as well.
But there are prices that may seem too good to be true. A good way to tell if the price is unrealistic is to compare prices with other properties around that area. If the price is consistent with the current real estate market prices, then most likely it is a legitimate post.
If not, then trust your instincts. Do further research. Talk to the seller and listen to what they have to say. They may come up with vague excuses or even try to reassure you it’s the price while giving vague details.
A red flag is usually when the seller rushes you to put down money before you are ready to buy. A professional real estate broker will not force you to put money down until you are sure you have all the information you need. Be a smart shopper and learn to spot the signs before putting down any money.
Also Read: Why Financial Literacy For OFWs and Migrant Filipinos is Important
Camella Homes – Cara House Unit
Take note of the photos posted with the property listing. Are they real and genuinely taken on the site? Or are they photo-shopped and looked like they were made poorly? Or maybe the post does not even have pictures at all.
One red flag when looking up online property listings is if the property seller does not post pictures of the property. Any sensible buyer won’t spare a single glance at a real estate post that had no pictures.
Other red flags are low-quality photos or photos that look like they have been hastily taken. This could mean a scammer is trying to mislead buyers with a picture that could have been taken anywhere.
There is also the possibility of property posts with duplicate photos. Since it is easy to copy pictures from other property websites, bogus sellers use them to lure in interested buyers. What is even more frustrating is if they pretend to be real estate brokers from the land developer company.
To check if the property post is taken with duplicate photos, you can use Google’s reverse image engine and see what pops up. If the information is consistent with the ones displayed in the listing, then you can rest assured, the property post is legitimate.
Real estate brokers will usually upload authentic and real images of the property, including all the rooms and its surrounding area. The quality is usually good. The picture is clear, has good lighting, and presents highlighted features of the property. They might also post where the site is located and how to get there.
In some instances where the house or condo is still in the development phase, real estate brokers take the pictures from the land developer website so buyers can see what the final product will look like.
Also Read: Which Vistaland Home is The Best for OFWs?
Property sellers are the first person you come into contact with when you ask about the online property listings. Usually, you can find their name and profile pictures alongside the property listing.
The common type of property sellers you see online are professional real estate brokers. You will know they are legitimate because their profile picture is presented in a clean and professional manner.
They also include the logo of the real estate broker company they work for. More importantly, you can tell if the real estate broker is legit if they include their PRC license number. A quick look-up on the PRC’s main website will tell you if they are genuine or not.
On certain websites such as Lamudi, their agent profile has the Verified badge to let buyers know they can be trusted.
Real estate brokers usually know a lot more about property listing. They can tell you anything you need to know regarding the property listing and address any concerns you have about the location. You can set up an appointment with them to visit the site and see the property in real life. What’s more, they can also assist you in making the purchase, and handling the paperwork process for a small fee.
In some instances, the real owners post their own property ad online without the help of the middleman. If you happen to encounter this kind of situation, then that is a good thing. This means you will have direct communication with the actual owner and not a middleman. If you manage to build a good rapport with the property owner, you can try politely haggling for a lower price. It is worth a try.
The only con with interacting with property owners is they may not have much sales experience so sometimes communication can get bumpy. And when that happens, it can feel frustrating to follow through with the buying process if one party is uncooperative or unresponsive.
The best bet is to communicate and follow through with real estate brokers. They are trained to sell real estate and have gone through various experiences handling client’s concerns and questions. They are also familiar with what types of documents are required, the necessary steps in the buying process, and they certainly have a great personality and attitude when it comes to being the middleman between the buyer and the property owner.
Also Related: Buying a House for the First Time as an OFW
Learning the condition of the land title is also one of the buyer’s responsibilities. Is it clean? Is it currently tied up with legal proceedings? If the land title has several owners, then it might make things complicated. Or what if the seller keeps changing the topic whenever you bring up the condition of the land title?
It is important to learn to walk away when the seller is not upfront with certain details especially when it concerns the authenticity of the land title. There have been many cases where people were scammed into buying false land titles and this caused many people to lose their money. It is heartbreaking for breadwinners to have fallen for this kind of scam. They spent much of their hard-earned money in the hopes of building a home for their family, only to learn the land title was false and the seller was a fraud.
Naturally, people are more guarded and hesitant when a real estate opportunity comes by. This is also why buyers prefer to interact with people they know or trust. And also why licensed real estate brokers are more reliable and trustworthy representatives.
To protect yourself against fraud, you would need to verify the true owner of the land title. There are so many fraudulent sales of lands in the Philippines that it can traumatize anyone who becomes a victim of this horrible experience.
To verify the authenticity of a land title, you can visit the Registry of Deeds where the land is located. Each province or city has one. Owners of registered lands are given an owner’s duplicate certificate which is a copy of the original title on file with the Registry of Deeds.
The buyer can easily verify the title’s authenticity by comparing it with the one original title on file with the Registry of Deeds.
Fortunately, if you buy housing properties or condominiums from land developers, then it releases you from the stressful experience of transferring land ownership over to you. The title is guaranteed to be clean since you will be the first owner of the property. It saves you the stressful interaction of calling the buyer and inquiring about any updates regarding the land title.
Also Read: Important Tips Every OFW Property Investor Should Know About
It is surprising to learn how fast real estate marketing has changed. From posting about it through the traditional newspaper to passing it on through verbal communication, and then to post about it on the internet, it is impressive how fast real estate marketing has evolved through the years.
While easy access to the Internet saves people time and convenience, there are also downsides and risks that come with it. For one thing, it is easier to scam people with fake advertisements, and fake posts. Keeping an eye out using the 3Ps can help you steer clear away from scammers.
As always, do your research. Inspect the property listing thoroughly. Talk to the property seller. Ask about the condition of the title. Arrange a site appointment. Listen to your intuition. There might be some details you missed during the site visitation. So always do your research.
If you are interested in Vistaland’s available houses and condo property listings, you can visit their property listing search page here.
Or if you have any questions or concerns about real estate, feel free to contact our Vistaland International real estate brokers. You can contact them here or visit our social media accounts, and one of our agents will be happy to address your concerns.
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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. 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.
The Philippines is a country rich in culture and natural resources. As such, local Filipino citizens and Overseas Filipino Workers (OFWs) have so much to offer to the world. It’s no secret that there’s a great ingress of foreign venture capitalists looking for business opportunities that they could invest in or properties they could acquire and gain rental income.
OFWs have braved the great unknown and lived in a different country just to make ends meet. They’re dubbed as the Philippine’s modern day heroes because of the money remittances they send back that keeps the economy afloat. And with all their hard work, it’s fulfilling to come home to your family and enjoy your well-deserved vacation.
In line with that, have you ever gone to a local or international travel destination and wondered what it would be like to live there?
If you’re thinking about moving to a touristy area, read ahead to find out the pros and cons of buying a house or condominiums in a tourist destination here in the Philippines.
Quite the obvious factor, the main vantage point of living in tourist areas is you never run out of things to do. Like most tourist destinations, there’s always going to be an occasion and you get to experience different kinds of events ranging from concerts and trade shows, to sports cup and social events. Additionally, there’s also going to be an influx of business such as new restaurants, cafes, shopping malls, tourist amenities, and recreational parks. Having continuous growth in the economy brings us to the next point.
The rise of tourists in the area means a huge booster for the city’s economy. The number of tourists per year greatly affects different business industries like the tourism industry, the Philippine housing industry and the commercial sector. Foreign visitors, local Filipinos, and OFW investors play an important role by visiting tourism areas because these target markets might acquire properties that could generate rental income.
Just like the growth of the local economy, tourism also affects transportation and road infrastructure. Local government units (LGUs) of those cities and municipalities in the Philippines with tourism areas prioritize having safe, wider roads to better accommodate the rising guests in the community.
If you live in a house and lot in the Philippines with a lot of famous tourist spots, then surely your friends and family would want to visit you often. You can take them to the famous tourist spots and hidden gems in the city as well as giving them a personal tour of your master planned community. They wouldn’t have to look for available tour guides because they have you to give them a tour of your home.
While it’s great that you wake up to scenic views and fresh air, a downside of purchasing a home in a tourist area is the amount of large crowds everyday. You’ll see crowded spaces in between shopping malls and famous spots because naturally, travel goers would want to have the vacation experience and take a few pictures.
One on the biggest disadvanatges of living in a place rich in tourism is the expensive prices of everyday items. Although this doesn’t apply to every tourist setting, you should expect a higher cost of living when you live in a city bustling with tourists everyday. The closer you live to the main tourist area in the city, the higher your daily expenses will be.
A big disadvantage of living in a famous tourism area is you get to see firsthand how tourists disrupt the natural beauty of the area by pollution. Take the great Boracay for example. The world-class resort island had to be closed off to tourists for 6 months in order for the island’s rehabilitation and clean-up drive to take place.
One of the important things to consider when looking for a home investment in the Philippines is whether you’d like to settle down in a touristy area or a place seldom visited by tourists. In the Philippines, there are several condo developers located in cities with high tourism growth. Their condo developments are either just a short drive away from travel destinations or right at your front door.
The City of Baguio is known as the “Summer Capital of the Philippines” because of its generally cool climate owing to its higher ground elevation. Baguio is abundant in tropical pine trees, so it’s naturally nicknamed as The City of Pines. Because of its cool climate and pine trees around the city, Baguio is a well-known tourist attraction for local Filipino citizens, returning OFWs, and foreign visitors who wish to escape the scorching heat of the metro.
The cozy pine city has so much to offer to tourists. From their Strawberry Taho delicacy and Strawberry farms, to their iconic tourist spots such as Burnham Park, Camp John Hay, and the Baguio Cathedral, OFWs and foreign visitors would surely have a fun-filled adventure.
Baguio City has a lot of accessible hotels and transient rooms for all kinds of budgets. But seeing as it is a famous tourist destination, there are local Filipinos and OFWs who opt to settle down in a condo in Baguio City.
Brenthill is Vista Residences’ luxury condo development in Baguio that offers a laid-back condo lifestyle. Nestled between nature’s foliage and Baguio’s busy streets, Brenthill takes your condo living close to popular attractions such as the Baguio Cathedral, Teacher’s Camp, the Public Market, the Pink Sisters, and the Botanical Gardens.
Project Address: 9 Yangco Road, Upper Pacdal, Baguio, Benguet, Philippines
Starting Price: PHP 5,900,000
Units Offered: Studio unit, 1 bedroom unit, 2 bedroom unit with balcony
Designed to be one with the ambience of the surrounding pine forest, Pinehill is a 12-storey vertical village tucked away into the mountainside of Baguio. Pinehill’s available condos in Baguio offers a stunning panoramic view of lush green pine forests and vast valleys.
Project Address: Outlook Drive, Baguio City, Philippines
Starting Price: PHP 5,300,000
Units Offered: Studio unit, 1 bedroom unit
Wake up to the breathtaking views of the Cordillera Mountains and the fresh pine-scented air that Baguio City is known and loved for. Canyon Hill Baguio is a 9-storey vertical development engulfed in a dense green forest. In Canyon Hill, you are not just close to the top tourist area but you’re also near excellent academic institutions.
Project Address: Pacdal Road, Baguio City
Starting Price: PHP 5,000,000
Units Offered: Studio unit, 1 bedroom unit
Tagaytay is well-known for a lot of things such as Sky Ranch, People’s Park in the Sky, Picnic Grove, and the famous view of Taal Volcano and Lake. Having similar environment qualities to Baguio City, Tagaytay is dubbed as the Second Summer Capital of the Philippines. The city’s charming characteristics attracts both local and foreign investors, even OFW investors to buy a condo for sale in Tagaytay, Cavite and have it rented out via Airbnb.
Pine Suites boasts its luxury condo development in Tagaytay with its lush, tree-lined entrance and cozy cabin feel inside its condo developments. Enjoy the exclusive views of the misty pine forest in your own suite in Tagaytay. Condo living has never been this luxurious!
Project Address: Bonifacio Drive, Silang Crossing West, Tagaytay, Cavite
Starting Price: PHP 5,000,000
Units Offered: Studio Unit, 1 bedroom unit, 2 bedroom unit
Alpine Villas by Brittany Corporation is a mid-rise condo development in Tagaytay that consists of six to eight-storeys. Alpine Villas is located away from the bustling Tagaytay City which makes it a safe option for OFWs who wish to settle down in a vacation getaway place but without the noise and large crowds.
Project Address: Crosswinds Drive, Tagaytay, Cavite
Starting Price: PHP 5,000,000
Units Offered: Studio Unit with Balcony, 1 bedroom unit
Located just a few minutes away from Metro Manila, you can explore the hillside areas of Tagaytay at The Grand Quartier. It’s a luxury condo development in Tagaytay within the vicinity of Crosswinds Swiss Luxury Resort. The Swiss-themed condo in Tagaytay is a perfect choice for foreign and OFW investors. The Grand Quartier also offers condotel units where you have the option to use your own condo unit as a vacation home or have it rented out to foreign and local guests.
Project Address: Crosswinds Drive, Tagaytay, Cavite
Starting Price: PHP 5,000,000
Units Offered: Studio Unit with Balcony, 1 bedroom unit
Batangas is a safe haven of pristine landscapes, scenic lakes, rolling hills and mountain views, farm lands, and the home of a world-famous volcan, the Taal Volcano and Lake. If you loved the overlooking view of the Taal Volcano from Tagaytay City, imagine the breathtaking view up close! The best part of living in Batangas is its proximity to Metro Manila making it a natural choice for weekend getaway from the city. Aside from its culture and verdant landscapes, Batangas is a perfect blend of the suburban and city living.
Camella Manors Lipa is the biggest condo development in Batangas. Offering affordable condo sale in Batangas, you’ll get to enjoy a quality lifestyle as well since this condo development is accessible to the city’s lifestyle centers and social hubs.
Project Address: Brgy. Tibig, Lipa City, Batangas
Starting Price: PHP 3,360,000
Units Offered: 1 bedroom unit, 2 bedrooms unit
Hailed as the World’s Most Beautiful Island in 2020 by Travel+Leisure Magazine, the majestic island of Palawan faced a great influx of investors and home buyers on top of their usual tourist visitors. Also hailed as the country’s Last Ecological Frontier, Palawan is home to marine biodiversity, clear waters, and underground rivers. As Palawan is known for its beaches, rainforests, green foliage, and heritage sites, it’s an island that most foreign and OFW investors would want to acquire a property as a residential home or rental investment for visiting tourists.
Located in Brgy. Bancao-Bancao, Camella Manors Verdant is a resort-inspired condo development in Palawan. Camella Manors Verdant is ideal for independent professionals and OFW investors who look forward to living in a fresh and flourishing paradise of a city.
Project Address: Brgy. Bancao-Bancao, Puerto Princesa, Palawan
Starting Price: PHP 4,500,000
Units Offered: Studio unit, 2 bedrooms with balcony
Cebu City or otherwise popularly known as “The Queen City of the South” is located in Central Visayas, Philippines. The historical city is said to be the birthplace of Catholicism in Asia. Another thing Cebu is famous for is its Lechon, a roasted young pig stuffed with a mix of herbs and spices. Locals often visit Cebu for a number of tourist areas such as Oslob Cebu, Sirao Flower Garden, Temple of Leah, Fort San Pedro, Cebu Taoist Temple, Magellan’s Cross, Kawasan Falls, and Bantayan Island. A mix of historical sites and scenic escapades, Cebu has a lot of wonders to see for yourself.
Suarez Residences is a 29-storey condo development conveniently located in metro Cebu. The remarkable L-shaped architecture of the condo development makes it hard to miss when you’re walking around the city. The mixed-use luxury condo in Cebu comes with a shopping center, hotel, and residential hub all in one building. Let Suarez Residences redefine your way of condo living!
Project Address: 116 Gorordo Ave, Cebu City, Cebu
Starting Price: PHP 4,500,000
Units Offered: Studio Unit, 1 bedroom unit
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.
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.
Emergency funds are funds set aside for unplanned expenses, such as medical bills, home repairs, or loss of income. It’s better to use emergency savings to cover unexpected expenses than to use a credit card or high-interest loan.
Emergency funds create a financial buffer that allows you to make ends meet when you need it, instead of relying on credit cards or high-interest loans. If you are heavily in debt, having an emergency fund is especially important because it can help you avoid borrowing more. If you are in a financial crisis, especially for OFWs and migrant Filipinos who lost their job due to the pandemic, emergency savings will provide a safety net until you recover.
However, without any emergency savings, you will most likely end up borrowing money from family or loaning in the bank, ignoring your existing payment obligations, or buying high-interest credit cards, all of which will put you in debt. Depleting your resources to pay the remaining debt.
The emergency fund is a separate savings account, dedicated to unexpected cash outflows due to uncertain factors, such as sudden loss of income, illness, accidents, or any unforeseen expenses.
Experts do recommend keeping three to six months of expenses in the emergency fund, but in some cases more is needed. Some experts recommend using a smaller emergency fund when paying off your debts. If your job is insured and you don’t have many expenses, you may be able to save less money. However, a large fund is needed when it comes to housing or car loans, business debts and long-term unemployment.
Bank ATM savings accounts and high-interest savings accounts are two good places to store emergency funds. You need safe and smart options so you can use your funds when you need them. These options make it harder for you to get involved to use your funds in important matters only and you will get some money in return.
Having an emergency fund is a must. Think of it as a buffer from the ups and downs of your life and prevent you from increasing the debt burden you may already have. The outbreak of the coronavirus has drawn people’s attention to the difference in having an emergency fund during a crisis. You may be infected with a disease that causes expensive medical expenses. We cannot always be prepared for the physical or emotional challenges that life brings to us, but we can be prepared to pay the bills.
Establishing an emergency fund takes discipline, time, and some sacrifices, but it can be done. If you’re not sure how to save for an emergency, here are the steps on how to start and cultivate an emergency fund.
If you have already read the expense tracking software, just check your list to see what your monthly expenses are. Otherwise, you can use the tracking expenses worksheet or take a piece of paper to record your monthly income and expenses. Be sure to include recurring expenses, such as your rent or mortgage, utilities, and childcare, as well as estimates of other out-of-pocket expenses you can purchase, such as movie tickets, dinner, and clothes wear.
Many Overseas Filipino Workers (OFW) try to save money. This is a sad reality because becoming an OFW is not easy at all. Being one means endless sacrifices, including being away from loved ones and living in a strange environment. But OFWs and migrant Filipinos are prudence and good at saving money. They prefer living in condos and apartments to save money.
The emergency fund must pay three to six months of actual living expenses. If you think your income is stable, or if you can get home equity or other forms of credit when you need it, you can plan for a lesser amount. If your credit is close to your limit and your income prospects are uncertain, you may want to save more.
OFWs and migrant Filipinos do their best to save money for their loved ones by “ipon” or saving a little percentage of their weekly or monthly salary. OFWs and migrant Filipinos always dream to move to a better place or house where they can enjoy their life.
It takes a long process to generate savings, so it is important to start small and build from there. Some people set a big goal for their emergency fund early on, only to find that it takes longer than expected. Along the way, they will start to feel discouraged and eventually give up completely. It is not going to be easy at first. The important thing is that you take action and start saving, no matter how small, just be consistent. You will reap what you sow.
An emergency fund should be easily accessible and liquid, the recommended tool is usually a savings account. Savings accounts cannot even keep up with inflation and are intended for buying something, which means that in the long run, the emergency fund is a money-losing proposal and for important matters.
The purpose of the emergency fund is to provide enough funds to cover large and unexpected expenses or to prepare you for major financial changes. The purpose of the emergency fund is to eliminate the need to borrow money or maximize the use of credit cards when life becomes financially difficult.
When you have extra money, think of ways to invest it. Real estate properties such as affordable houses and condos for sale in the Philippines is a great way to start with your investment portfolio. Investing your money will give you more opportunities to increase what you have. However, real estate investment always involves risk, so don’t put all your eggs in one basket. Before you start investing, have an emergency savings fund that can last for several months. This will prevent you from losing everything you have. In addition, please pay attention to your investment. Before investing in a house for sale in the Philippines, be sure to conduct research.
Also Read: Philippine Real Estate Investments as Income Replacement for OFWs
Vices come in various shapes and sizes, and most of them are unhealthy for your body and wallet. Unfortunately, many OFWs fall into the trap of vices, perhaps smoking, drinking, gambling, or excessive shopping, as a way to cope with loneliness. The good news is that there are other leisure activities: exercising, playing sports, or meeting other Filipinos are some of the activities that can help you. When you take the time to nurture your body and your social life, you will also steer clear of the big costs of illness.
If you already have debts, pay them back first. Generally, extending the debt will cause you to pay higher interest rates. You want to live a debt-free lifestyle as quickly as possible, so find ways to achieve this goal. Discipline yourself and do not focus on things you want but on things you need.
How do you consistently add to your emergency fund if you still have debts to pay? It’s like you’re saving money, not for emergency use but just to pay your remaining debts. Do not assume to reap at the end of the day if you have this kind of attitude. Know your priorities for you to have direction.
This may seem opposite to your goal, but it’s okay to invest for yourself now and then. Just know what expenses will add value to you. Learn new skills. Participate in seminars and conferences whenever you have the opportunity. Although some may ask you to pay for it, you will get your money back with the skills you have acquired.
Hardworking OFWs are known to be the best in their field of work. Many Filipinos are known to be flexible and skillful. That is why many companies prefer Filipinos to work in their company.
It is normal for OFW to send money to family members back home in the Philippines. Most OFWs do this. However, whether this is an act of generosity or responsibility, it should not prevent you from saving. The most important thing is to help them gain financial knowledge. You will not always be there to guide your spending. Over time, they should learn to budget for the money they receive. Talk to your family until they understand your financial goals. Since you are building an emergency fund for their good and the future.
Making a budget is essential to any financial plan, and it is also important to review the budget regularly to ensure that your savings and spending needs are in line with your current financial situation. When you check your budget, ask yourself if you can save more.
If you usually allocate 20,000 pesos every month for dining out, see if you can reduce 15,000 pesos and put your saved money into emergency savings. The same is true for other discretionary items, such as allowances for clothing, entertainment, and personal care. All this will help, even if you only cut your budget by 10,000 pesos a month.
The first important benefit of having an emergency fund is that when the remaining money is used to do your things, it can generate valuable interest. The more money you have in your account, the more interest you earn, but the type of account type will also determine the amount of interest you earn. It’s not bad to earn little by little while doing nothing. Placing your money in security and earning.
It avoids spending money on vices and leisure
Vices like smoking and drinking will tempt you and make you off guard of your fund. Find leisure that can satisfy yourself and uncontrolled spending of your money. You might fall into large debts. If you do not have an emergency fund when you arrive at your destination, you will have to resort to credit, which will only increase the cost of such expenses even more. One of the biggest advantages of an emergency fund is that it allows you to pay these expenses without the need for a loan.
It is said that money cannot buy happiness, but it depends on your definition of happiness. If happiness means tranquility, money is, of course, a factor. Having a strong emergency fund can give you peace of mind that you can manage unforeseen expenses, so you can rest easy. By minimizing financial stress, you can even improve other aspects of your life; the actual value of the emergency fund far exceeds the rand of your account. Not thinking too much of the future whatever problem or calamity you may encounter. You cannot predict when it is going to happen but at least you can prepare.
Having an emergency fund is an important part of having flexible finances. Although they can be excruciating, there are many things you can do to protect yourself and your loved ones from an unexpected financial and economic crisis.
People tend to pay close attention to their credit scores when they start buying a home. OFW investors who wish to buy a home in the Philippines should keep their credit scores in check. While your credit score is one of the most important factors in getting approved for a home loan, it is important to understand that when you apply for a home loan, the lender will generally fully understand your financial situation before deciding whether or not to approve the home loan.
Liquid assets, such as savings, can help you be sure that even if you experience financial setbacks (such as unemployment), you can still repay them. This can lower your risk profile and the interest rate on the loan. Your savings history can also be seen as a sign of good financial management habits.
It may not be known to everyone, but there’s also a downside in saving up for an emergency fund. Here are a few drawbacks for OFW investors saving up for an emergency fund.
As you spend more money on your savings, less money will be available for other financial goals. Creating emergency savings may prevent you from paying off debt or saving for a new home. But it still depends on your financial state on how many funds you can handle and the plan you have set.
The return of investment does not come to you instantly. To earn in the investment you should save money on your chosen bank or process. Consistency is the key for you to reach your target earnings while investing or building an emergency fund.
Overall, it’s still a great idea to save up in case of emergencies. OFWs know how crucial it is to save money because at any moment, their contract might end or they might be laid-off at work.
Talk to the experts in building an emergency fund. Vistaland International, Marketing Inc. is willing to sit down and listen to your needs. Talk to us now!
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.
How do OFW investors know if it is suitable for them to move from a house to an apartment or condo? First of all, if you find yourself using your home too much and making many expenses, this event may suggest that moving into a condo can make your life easier. Which then leads us to the question, “Is Living in a Condo Worth It?”
Downsizing and moving to a condo for sale in the Philippines is not going to be easy. Moving to condos will change our way of life. Or at least, change the way we want to live, but the bottom line is that we should live better. That is why we choose a condo investment over our high-maintenance houses.
There are many disadvantages and considerations in living in a condo or apartment. Older people, empty nesters, and world travelers should learn more about the pros and cons of apartment living before changing their lifestyles.
Location is the primary consideration. Condos for sale in the Philippines are usually the best OFW property investment typically situated in the middle of a busy business district, so that you can save on fuel and transportation costs. Because space is limited, you also tend to limit your furniture to minimize clutter.
Family is the most important asset of Filipinos. This is wealth they can never exchange for anything else. They are willing to invest any amount of money just to put their family in good condition. So why not consider getting a condo in the Philippines? First, let us identify the factors that you should consider before moving into a condominium.
According to Republic Act 4726, known as the condominium act of the Philippines, a condominium is “participation in real estate, including the individual participation in a unit in a residential, industrial or commercial building. As well as the land in which it is directly or indivisible together—located in other public areas of the building.”
According to the Philippine Condominium Law, OFW and migrant Filipinos, Filipino citizens and businesses can own condos in the Philippines. However, foreigners cannot own more than 40% of the company’s total share capital and working capital, and the company must be owned and controlled by a Filipino. In addition to this restriction, foreigners and foreign companies are prohibited by law from owning land.
The client or OFW investor completes the reservation form and pays for the reservation. The client will comply with all other requirements, such as valid identification and proof of invoices, and deliver them within the agreed period. In addition to your signature on the reservation agreement, preferred payment plan, and payment of the reservation fee, OFW investors may also need to submit and fulfill some documents.
Related Article: Where To Buy a Condo For Sale In The Philippines
Depending on the market, buying a condo unit in the Philippines may be more expensive or cheaper per square foot than single-family homes. The appreciation of your property will also depend on the market. In rural areas, the appreciation rate of single-family houses with land tends to be higher than apartments of similar size. However, apartments in cities can appreciate faster than single-family houses.
Less maintenance is one of the primary reasons why OFW investors choose a living in a condo over having a house. Most of your money and time is spent on house maintenance, from the maintenance of house structure and resources to beautification and cleanliness of the entire home. Unluckily if you have a high tower house, it is like burning money for nothing.
Having a condo unit in the Philippines is a wise choice though the space is limited. You are maximizing your space and making and placing resources the best out of it. If you value the convenience and accessibility of larger areas and quiet communities, apartments are a perfect choice. If you want to buy real estate in the business district of any developed city, it makes economic sense to buy an apartment or condo unit.
Many OFW and migrant Filipinos are finding a place where they can stay. Buying a condo unit in the Philippines is a good investment because you can sell your unit, which is not prohibited in condominium law. However, when you sell your unit, you sell the unit itself and your interest in the public area and your membership and equity in the condo business.
Medium-sized condominiums are perfect for buyers who want to downsize a larger home or don’t want to spend a lot of time maintaining the home. In addition, the smaller space provides more freedom for residents who wish to spend time traveling or enjoying the city rather than always working on home décor.
Each condominium community is slightly different, but you will most likely find a variety of amenities. These facilities include swimming pools, tennis courts, gyms, and community rooms. You have free access to condominium resources and enjoy life away from hustle obligations in houses from cities. As the unit owner, you are essentially the co-owner of the apartment, and you are entitled to such privileges and subject to the restrictions that may arise from ownership.
One of the main advantages of living in a condo is that condominium buildings are usually located in the city center or surrounding areas, so residents can easily travel to nearby commercial and entertainment areas. Living in a condo means within walking distance of restaurants and bars, public transportation, major attractions, and many activities.
Many OFW investors invest in condo units in the Philippines living to experience the safest and most secure accommodation. Before entering the premises, CCTV cameras, well-trained security personnel, and detailed security inspection procedures are installed.
But the security threat is not limited to thieves or criminals. They appear in different forms of unforeseen circumstances, such as earthquakes and other natural disasters, and even simple careless accidents at home. So that your whole family is always safe, we have provided you with all possible security measures and precautions. You must take the following steps in each space and corner of the apartment.
Living in a condo brings you closer to people, creating a sense of community that is different from what you would find in a typical neighborhood. As a result, many apartment dwellers are proud of their community, and their neighbors can become close friends.
Filipinos are always friendly with strangers or newcomers. This is because they want newcomers to feel at home or be part of a team. Moreover, knowing where strangers are coming from helps Filipinos get into a relationship because it’s their way of finding out if they know other people from the same place.
With the perks of living in a condo also comes some disadvantages. Check them out below so you can come up with a sound decision before switching abodes.
If you are moving from a house to a condo, there is no doubt that limited space is difficult to accommodate at first. If you have many hobbies and projects that you don’t want to give up, living in a condo will be a challenge.
Below are the tips on how you can maximize your space in your condo unit.
If you’re going to scale down a sprawling suburban community, moving into an apartment can be a very different noise experience. You will share the walls and the floor/ceiling with your neighbors. Some apartment complexes also limit the number of visitors and pets you can have. You may also have restrictions on specific aspects of the home, such as paint colors, solar panels, and landscaping, affecting your sense of control.
Tips on How to Make your Condo Unit Sound Proof
Like apartments, condos share walls. You may hear neighbors passing by your apartments or throwing parties. You may listen to television or noisy animals. But, unfortunately, they can also hear your voice. For people who are used to living in apartments, this may not be a problem. But for those who want to switch from a house to living in a condo, are looking for peace, and life in an apartment may not be ideal.
Here are some security hacks that might help in improving privacy in your condo unit
Typical apartment costs generally always include contributions to building maintenance and upkeep. Still, in some cases, they can also have heat, water, sewer, garbage collection, and even electricity and cable TV. Consider how much these order lines cost if you live at home.
The price per square foot for a condo unit can be higher than for a single-family home. Generally, what you pay for a condo are the convenience and location. After considering all the factors, your mortgage payment may go up.
If you are an OFW investor, a newly married couple planning to start a family, or a young professional, living in an apartment can save you expenses on visits to parks, resorts, gyms, recreational areas, and sometimes even money for Internet connections or Wi-Fi. Of course, you must pay what they call association fees or homeowner’s fees to enjoy these apartment privileges.
However, you never have to worry about security, non-working facilities, or even garbage collection.
For residents who need to store items, the absence of additional basements, garages, attics, or closets can be a disadvantage. Some apartments may include small storage units assigned to each apartment, but this is not always guaranteed, which means you may need to downsize or move out for more space. Of course, you can rent a storage unit at any time, which is cheaper than moving to a larger condo unit.
Whether you have views of a quiet and peaceful mansion, lush greenery, a vibrant city skyline, or tranquil ocean and pool views, high-quality landscapes typically include unobstructed views. But, unfortunately, they are also priced high, so you have to decide whether it is a possession or a necessity.
If the landscape is not necessary to you, you can save some money here. I have a friend who does not mind buying a house across the block because his life habit is mainly to close the curtains and minimum vision requirements. This saves them a lot of money. They invest in interior design and make the most of it.
Condos for sale on the upper floors are generally brighter and better ventilated than those on the lower floors; they are more exposed to sunlight and less blocked by the surrounding environment. However, the units on the lower floors are more convenient because there is no need to wait for the elevator or struggle with bulky furniture.
If you enjoy the scenery, you have to pick a high floor unit. This is because you see the sky, trees, and other buildings while enjoying light coming from the sun.
If you don’t want to feel physically tired from climbing stairs or waiting for elevators, then the first three floors are a perfect choice. In addition, since no one lives under your unit, you don’t have to worry about making too much noise. If you want to avoid the extreme situation of the upper and lower mid floors, buying one of the units is the ideal option. You can still use the stairs easily and can tolerate traffic noise at this level.
On the upper floors, you won’t have to deal with street noise. Besides, you can also enjoy the beautiful scenery. You will also get financial benefits because the apartments on the upper floors tend to have a higher resale value. After all, the beauty there is astonishing.
Choose a condominium near the entrance block for you to have easy access to parking and driveway. Most high-rise condominiums place their parking lot on the basement, while medium-size condominiums place their parking lot on the rooftops.
One of the most important things to protect yourself when buying a condo for sale is researching the Homeowners Association and participating in the Homeowners Association meetings. You may also want to talk to your neighbors to see if they are satisfied with how the apartment is managed. Check the letter to determine what the HOA covers. You can also request the minutes of recent board and member meetings and determine how much the Homeowners Association membership dues have increased in recent years.
Another area that needs to be investigated is the board’s litigation history, including taxation and other general issues. If you make a purchase, you may find pending lawsuits that you may not want to participate in. Due to non-payment of homeowners’ association dues, some apartment associations were forced to file for bankruptcy. If you delay receiving the installment payment, the lender may also stop financing these units, affecting the resale value.
Since most condo units are close to each other, the community association will establish rules and regulations. Because of this, many associations will have many different rules and regulations to “keep the peace” in the community.
It is essential to understand that, unlike single-family homes, you cannot set your own rules and do whatever you want. In many cases, buyers don’t mind reviewing the association’s rules but let their attorneys review them on their behalf. Many communities restrict the types of pets or whether pets are allowed. The last thing you want to know is that your animals cannot enter the community.
Other standard rules in many apartment communities have to do with whether the unit can be rented or whether there is quiet time. If you have dealt with bad neighbors in the past, you will understand why these rules are an essential part of the condo complex.
Buying a condo unit in the Philippines is a lot easier if you consider talking to the experts in the real estate industry. Vistaland International Marketing, Inc. (VIMI) offers a wide variety of condos for sale in the Philippines that will surely help you in choosing what real estate property to invest in. Educate yourself and land the dream of living in a condo with VIMI. Send us a message here for any concern or inquiries.
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.
For OFWs and migrant Filipinos, buying your first condo in the Philippines can be exciting. You did your research, talked to various real estate experts, calculated the costs, and finally decided to sign the papers. So now what?
You can either decide to use your condo in the Philippines as a vacation home or use it as an investment property. For other OFWs and migrant Filipinos, they prefer renting out their unit to fully utilize their resources to generate passive income through rental properties (at the right rental price, of course!).
If you decide to do the same, then congratulations! You’ve set yourself on a path towards financial freedom. Buying and renting out condominium units is a common OFW investment. Next to businessmen, OFWs and migrant Filipinos are the trending majority of condominium owners.
Imagine this scenario: After you sign the papers, you patiently wait and keep investing. Finally, some time has passed and your new condo unit is ready for occupancy. A feeling of giddiness washes over you as you receive your unit key. You step into your brand new unit with sparkling clean surfaces and a great view of the city. A sense of pride and accomplishment swells up in your chest. Your investment choice has finally set in motion.
This is the feeling every OFW investor feels for the first time as they embark on their journey towards financial freedom. But who says you can only have one unit at a time?
If you would like to invest in more condominium units at affordable prices, then head over to Camella Manors and Vista Residences. You might find their condominium projects interesting. They have several condos for sale in the Philippines available for you to choose from. Located in several provinces, each condominium project is unique and caters to different types of lifestyles.
Now that you have your brand new condo unit, you are presented with a series of new challenges. You need to decide whether you want to furnish your condo. You also have to go out there and promote your condo unit for rent via social media platforms. And you also have to consider the rental price.
But with so much competition in the real estate market, how much should you charge for rent while still making a profit?
For rookie rental property owners, it can be tricky maneuvering into the real estate business. After all, this industry has been around for years yet there is different information floating around. It can be confusing on which source to trust. That is why Vistaland International wants to provide you and other OFWs and migrant Filipinos an easy guide on rental prices for condominiums in the Philippines.
This guide can help you, OFWs and migrant Filipinos make an informed decision based on several factors.
Here are some of them:
Finding a good location is a golden rule. When it comes to buying Philippine real estate properties, you always hear the phrase “Location, location, location.” Because let’s face it, owning a property in a great location just makes great business sense. The most sought-after condominium units are located in the heart of the city, and commercial districts. Buildings with access to malls, shopping areas, restaurants, and social venues are generally well-received by many tenants. The high foot traffic is great for business.
The floor level of the unit can also influence the price. The higher the floor of the condo unit, the more expensive it can be.
Corner units are also expensive compared to units along the hallway. They offer better benefits despite being on the same floor with similar units. The reason is corner units are designed with extra space, additional windows, and fewer distractions from loud neighbors. They also have a unique view of the city.
To determine the base monthly rental price, you need to consider the condo’s value and purchase price. By covering these fees into the monthly rent, you can slowly earn your profit margin.
Keep in mind that different condominium units have different prices. The bigger the unit, the more expensive the monthly rent can be. The layout of the unit also factors into the final rental price.
How many bedrooms and toilets does it have? Is there more than one window? Does it have an amazing view of the city during sunrise?
For example, the monthly rent of a studio unit is cheaper compared to the monthly rent of a 3-bedroom unit.
Aside from considering the condo’s value, you also need to check for any additional costs. This can include the move-in fees, property tax, amortization rate, condominium insurance, maintenance costs, and even association fees.
Make it clear to potential tenants what the monthly fee will cover. This allows them to know exactly where their payments are going.
A rookie mistake is charging your condominium unit with monthly rent at a higher price without doing any research. Not only does a high monthly fee make potential tenants lose interest. It can cost you a room viewing opportunity too. To them, it gives the impression that all you care about is earning a profit.
A good strategy is to look for similar-looking condominium units around your area. There are several real estate platforms online you can look up and compare rental prices with such as Lamudi, or myproperty.ph. Tenants also do their research since they want to get the best deal. And they are more likely to contact you if your monthly rent and available amenities match their budget and lifestyle.
If the units in your condominium building range around 25,000php to 30,000php per month, then most likely you should consider those ranges for your rental prices as well.
Looking into what amenities your building can provide is an excellent way to attract potential tenants. Everyone loves having access to a swimming pool, a gym that is open 24/7, an indoor cafe, a beautiful landscape garden for taking pictures, or even a venue to hold parties and events. There are also basic amenities such as Internet availability, air conditioning, elevators, and a parking space.
Take note of what appliances you will be included with the unit. Some condominium owners include a refrigerator, kitchen appliances, and even cable TV to attract more potential tenants while others lease the unit as is, giving potential tenants the freedom to buy their furniture and appliances.
Keep a checklist for all the available amenities and appliances you have. This helps you track your costs and add them to your rental price. It is also up to you if you include the electric and water bill into the monthly rent. However, tenants commonly pay for those utility bills themselves.
Checking what kind of buildings around your condo can influence your rental price. If your condo in the Philippines is near schools, business establishments, or offices then it is likely rental prices can go higher. However, if property developers build more condominiums around your area, then most likely rental prices are lower since there is a wide saturation in the market.
Most foreign ex-pats like to live within the heart of the city since it is easy for them to travel around and at the same time, explore entertainment venues like malls, or shopping districts.
Some condominium buildings are even built on top of malls which makes them highly desirable. These condominium units offer the best human comforts money can buy. You can buy groceries, go to the movies, and even shop around. All of it just within minutes from your condo.
So take note of any future property developments around your condo in the Philippines.
If you are open to negotiating, you can discuss with your potential tenant whether they plan to lease your unit for the long or short term. A standard lease is good for one year. However, if your potential tenant does not plan to stay in the area for a year, then it is possible to negotiate new terms and adjust the rental prices accordingly.
A great advantage of a long-term lease is lower monthly rates. But a great advantage of a short- term lease is their convenience and flexibility.
Related Article: Things to Consider Before Buying a Condo
Drafting rental contracts is one of the responsibilities of a rental property owner. The contract is a legal document that states the terms and details between you and your tenant. Both parties must sign an agreement on what is written in the contract.
You can draft one yourself however if you do not feel confident writing a contract, you can find help from a property lawyer. They have the know-how and spot any details you may have missed. They can also advise you on certain areas, which areas you are responsible for, and which areas the tenant is responsible for inspections.
Another responsibility is checking your unit from time to time for damages or malfunction of appliances. It is important to know if your unit still looks presentable, or if there are damages in your unit that need to be fixed. Keeping your unit in tip-top shape and fixing whatever needs to be fixed immediately increases the chances of your unit lasting longer while in pristine condition.
Every property owner loves a tenant who pays their bills on time. Bank transfers are a common transaction when it comes to transferring large amounts of money. They provide secure payments with no hassle, reassuring both the tenant and rental property owner of a good transaction.
But with today’s technology, people can now pay their bills online. Banks have created online apps which are convenient for people who do not have time to go to the bank. Other apps such as Gcash and Paymaya are also easy options to use.
To check if tenants can be trusted with their unit, rental property owners normally do background checks. One of these requirements is providing an NBI clearance, a valid identification card, and a birth certificate. They can also do further digging by checking the tenant’s social media accounts, their work history, and even their bank statements, although the last part is not mandatory.
Bonus Tip: If you feel overwhelmed by the task of renting out your condo on your own, then you can consider getting help from professional property managers. They can help you ease the stress from handling rental properties and also help you find good tenants to lease your units.
Related Article: How To Rent Your Home While Working Abroad
The sad reality is, renting properties is not easy especially among new OFW investors. You must have the right business mindset to put your goals into motion. It requires strong commitment and stubborn persistence to keep going even when you have no luck finding tenants.
As a real estate investor, you have to put in every effort you have in making sure your business stays afloat. That means making your condo unit for rent look as attractive as possible for potential tenants to contact you for a room viewing.
It also means anticipating the possibility of negotiating rent with potential tenants. After checking your unit, they may propose a new rental price. You can also counter back.
Naturally, compromises are normal in the real estate industry. As an OFW property investor, a good goal is to keep negotiations in a win-win situation to keep both parties happy. But you must also know when to pull back if negotiations are not in your favor.
In the end, learning to maximize your OFW property investments is a good opportunity to help you grow your earnings, even after you retire.
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. 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.
Most Overseas Filipino Workers (OFWs) understand the value of hard work and money. OFW investments come from a place of labor and sacrifice. If you are an OFW yourself, you’ll know and understand that investing in the right properties can mean financial stability for you and your family. Due to the growing demand for OFW properties in the Philippines, developers have also found a way to make real estate investment affordable for many working-class OFWs.
Real estate properties like condos for sale in the Philippines are now everywhere in the metro. Even in smaller city provinces, many developers are taking interest in investing. If you’re thinking of joining the growing number of OFW real estate investors, you need to know several things first. Buying your first condo unit may seem intimidating because of all the requirements and paperwork. Not to worry, this comprehensive guide should help you get started.
The first thing you need to keep in mind is that not all condominiums are built the same. The buildings where units are placed can be high-rise, mid-rise, or low-rise buildings. The price will also vary depending on the unit’s type, if it is a pre-selling price or if it is ready-for-occupancy (RFO). The latter is almost always the most expensive because the unit is already built and ready to be lived in.
Different condo designs are common in the Philippines. They cater to different purposes including the number of residents that will be living in them. These units differ mostly in space and floor area, with some being much bigger or smaller than the others. Check them out below.
Given the limited floor area, studio units are usually the cheapest option. These units are usually just one space for everything, save for the bathroom. The floor area could include the bedroom, the living room, and the kitchen. You can place dividers or something similar in between to separate the spaces or decorate them to your liking. Studio units can go as low as 18sqm in total floor area. This is the best choice for people who live alone or with a partner.
Units with several bedrooms are best for couples or small families. There could also be more than one bathroom and a separate kitchen. Units with multiple bedrooms need a bigger floor space but this also means a higher cost. Many condo buildings have units that have more than three bedrooms if you need them. It’s also a good idea to have the unit rented for big groups if you’re planning on leaving it unoccupied.
If a condo building has high ceilings, there may be units that are loft types. The loft can be a studio or multiple bedroom unit with an elevated space that can be accessed with stairs. This space above is open and looks over the space in the area below. The unit is ideal for people who are not comfortable with having an open bedroom if they are not living alone. While the loft can be the most visually aesthetic type of condo unit, designing it and making sure it is well-ventilated can be a tricky job. Still, plenty of people opt for a loft-type unit.
Located on the uppermost floor of a condo building, penthouses are the most expensive units. This type of unit has a huge floor area that covers most if not the entire floor it is on. It is also exclusive and private. In the case of some units, tenants even have their entry point to the building. Due to this luxury, most of those who can afford and prefer penthouses are celebrities, politicians, businesspersons, and others.
Buying your condo in Manila or any other city needs a decent amount of capital. OFW and migrant Filipinos can often afford to invest because of their above-average income. There are many benefits to adding condo units to your real estate investments. Apart from monetary factors, there is also convenience, accessibility, and other things to consider that may benefit you when investing in condo units.
These benefits can probably even out the cost of buying a new property. They can churn out an even higher return or it can be a steady source of income. Whatever the case, these advantages can only add to the reason why investing in condos for sale in the Philippines is a good idea.
Condo prices in the Philippines are relatively lower compared to other countries. This is because real estate in general is more affordable in developing countries like ours. Even so, condos are more affordable than house and lots because you are only technically paying for one whole bedroom or unit and not the building or the land it was built on. Monthly dues are also more affordable depending on your unit type and contract with the developer.
Condos are designed for convenience. Not only are they almost always near essential establishments, but they also come with amenities. These may include study and work areas, a pool, a gym, a parking lot, a function hall, and others. It is much more convenient than having to drive to places with these amenities if you were living in the suburbs. Condo buildings also have receptionists and cleaning personnel that maintains the place well and assists residents.
The level of security in most condominiums is tighter compared to many subdivisions. Depending on your developer, the building of the new condo unit you’ve been eyeing may come with 24-hour security and CCTV cameras. That is more than what many private house properties have. These places are also fully equipped with smoke detectors and fire sprinklers as mandated by the government in every commercial building.
Real estate investment is always a good idea because the real estate market is more or less always stable. The value of properties only goes up if the location it is located in continues to develop. If you decide to buy one, living in it is not the only option you have. In fact, many OFW investors choose to invest and then sell their units. Others also make it their source of income by renting it out, especially to students or workers that need to stay near the area. It is a stable source of income with a high Return on Investment.
As an OFW investor, buying a condominium unit as a real estate asset is a big milestone. You want to get your money’s worth, after all. Buying cheap may seem like a good idea now but perhaps not in the long run. If a deal is too good to be true, it probably is. Make sure to work with a licensed agent and a legitimate developer before anything else.
After you’re decided on buying a condo unit in the Philippines, the next step is knowing what factor to consider before making your purchase. From researching well to knowing what size of the unit is suitable to look for trusted homebuilders, these factors can be crucial so consider them well.
The Philippine real estate market is wide and can be intimidating if you’re only dipping your toes for the first time. Fortunately, many developers now have good internet profiles so you can scout them online. Doing your research and comparing the best real estate asset to invest in is always a good idea.
Don’t be fooled with marketing strategies either. Some developers may sell cheap but won’t hand over your unit for many years to come. To avoid getting scammed or being baited into these kinds of schemes, look up the company first or talk to other OFW investors you might know and ask for their experience or any tips.
Comparing condo prices in the Philippines can be tricky. Some developers may offer the unit for a cheaper price but pile on other fees like maintenance or a higher downpayment and monthly dues. Apart from these, other costs may include, but are not limited to, Philippine Capital Gains Tax, Documentary Stamp Tax, Transfer Tax, and Registration Fee.
Typically, a 10 to 30 percent downpayment is required depending on your contract. Until the unit is fully paid for, the transfer of the title most likely won’t be given to you yet. Every fee should be stated in the paperwork for transparency.
The location is always vital when buying any real estate asset, condominium, or otherwise. Good locations depend on what you need. For most condo units, being located in the central part of the town or city is important. It means access to offices, schools, hospitals, restaurants, banks, malls, and other commercial sites. Buildings that are easily accessible are usually more expensive but you can probably balance it out with the money you’ll save from gas or traveling.
Inspect and select is the motto when buying any kind of property investment in the Philippines. The condo unit you’ve been eyeing may look beautiful and spacious in the brochures but seeing it first-hand will give you a more realistic point of view. Most developers offer an ocular for their units. These are usually showrooms of replicas of their units.
You can ask your agent to schedule it for you if you are an OFW investor or have a trusted representative go and take pictures for you. If you are currently abroad, make sure to prepare all of the needed requirements and authorize your representative to arrange everything for you. Some developers also offer 3D or virtual reality tours especially during the pandemic, but it is always better to see the unit and the location first-hand.
If you decide to purchase a unit as your new home, you also have to consider the kind of lifestyle you have and if it is a suitable one for commercial living. If you need ample living space, buying a studio might not be the best idea. If you have an aversion to living with close-range neighbors, a building with hundreds of tenants may not be compatible for you.
Compared to houses, condos are better suited for modern living. They offer compact space and access to many amenities and business districts. If these are your main priorities, then add a condo unit to your growing list of real estate assets.
The condominium market is saturated with so many real estate developers. This is both a blessing and a curse. This is not to say that bigger names out there are always the best ones or that the smaller companies are less trustworthy. A developer’s reputation should always precede it. You can check their legitimacy by doing thorough research on everything, from their history to their mission and vision to other investor’s reviews.
Don’t forget about getting a good agent as well. Agents are going to be the main bridge and communication line between you and the developer. They can get you the best of deals when it comes to investments. There are many forums and group discussions online that you can join to get testimonials from trusted developers.
With decades of hard-earned reputation in the industry, Vistaland International is the country’s leading homebuilder. The real estate developer has a wide range of condominiums, house and lots, apartments, and many other real estate assets that can are good investments for OFWs and migrant Filipinos.
So is buying a condo a good investment in the Philippines? Definitely, so long as you know what you’re looking for and work with a good developer and agent. There are many factors to consider but if you go through them carefully, you’re bound to find a condo unit that will be perfect for you. Find Vistaland International’s catalog on their website here and start investing in your dream home 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.
Have you ever considered renting your home while working abroad and properly allocating your hard-earned money? According to Lamudi, over 69 percent of Filipinos would prefer to rent rather than buy a property. Many OFW investors use this opportunity to maximize their earnings while working abroad by converting their houses into a rental property. It may not sound easy, but here are some tips on leading your house while working abroad.
Setting up your house into a rental property involves careful planning as well as preparing yourself. In entering real estate, you should know how it works and what strategies will help your money grow in the long run. Preparing is essential to any job as well as investing your hard-earned money. In the preparation and planning stage, you should determine the goals you want to achieve in the next few years so that you will be able to properly lay out what plans and strategies you are going to take.
According to City Global, many OFW investors find real estate as a good investment while working abroad. Looking into benefits, it proves to be a solid OFW property investment in the Philippines.
You might be investing and experience a market drop at first, and it can be pretty stressful, but you’re still making it while working abroad.
When you’re 65 years old, and want to buy a home, most banks wouldn’t approve your loan because you have limited years to pay for the amortization. All you need is resources and knowledge on how it can sustain and can expand it into business. When you’re at a certain age and feel that retirement is approaching, it is better to plan ahead of time than not at all.
As time passes by, the value of property investment increases depending on the location and improvements made to it. Real estate investments are best in the long run. Your money that has been invested will double in due time. You can choose to invest the return of investment or buy new land for rental.
Buying a house and lot for sale in the Philippines is a good source for passive income. Owning rental property while working abroad is a good investment because it sustains the daily or monthly expenses of the family. Other than the salary of an OFW, the monthly rent can support the family’s needs and other urgent expenses. Renting out your home doesn’t sound like a bad idea after all, right?
Decide whether you’re going to open your rental house for the short term or long term at least. Your location is also a concern if your home is in rural or urban places. Commonly urban areas choose short-term lease agreements in which they agree to let tenants stay for 3-6 months—taking advantage of foreigners needing temporary homes.
Filipinos are known to be wise. Some OFW and migrant Filipinos who have become OFW investors alter their houses into renting or boarding houses while working abroad, waiting to increase the land value or waiting for possible buyers to move into their property.
Looking for a house and lot for sale or condo properties? Check out these units that are great rental options:
If you’re going to consider yourself a landlord of your rental house or facility, these are some laws and guidelines to become an effective landlord. It is essential to follow all legal requirements as early as possible. Keep in mind to educate yourself on the dos and don’ts of renting a property.
Living in your home and working abroad is quite complicated, so why not choose good tenants who can live and take care of your house while earning?
As a landlord, you must treat your tenant equally and prevent discrimination against people’s status and class, not discriminating them based on their race or color, nationality, religion, sex, and disability.
Look for tenants who are financially stable and financially responsible. Consider looking for tenants who pay on time. Look into their credit background and see there has not been an issue on their credit line.
Check if they are a good steward of your resource. A family-oriented person is a must because the one who cares for their family will likely treat you well and your house responsibly.
If possible, talk to the previous landlord where they have rented and ask if there is any problem handling them.
Look at the tenant’s prior address and employment history look if they are capable of paying rental fees
The more people per room or house, the more the investment needed. If you’re going to set up your home, it is advisable to have at least two people per room.
It is you who will decide if you’re going to consider these factors, but sometimes it is your instinct that is best to judge the inquirer’s character.
Most importantly, a legal agreement is a must between the landlord and the tenant. Landlords must have a copy of the tenant’s identification and address proof. For emergency purposes, you should also ask for tenants’ contact details. For tenants, they should have a copy of house information and payments, including house bills and electric bills. Tenants also have the right to ask the landlord and are informed about homeownership proof such as title deed or any other documents. Tenants should have accessibility to the house or room they are renting.
According to R.A. No. 9653 or Rent Control Act of 2009, for Filipino bed spacers who are renting, this law protects apartments and houses, paying PHP10,000 per month or lower. So before setting up the price, consider the money and effort you’re going to invest that will exceed this price range. Certainly, condos, hotels, and motels are not under this law.
The main goal of renting your apartment is to make money. You are maximizing the capability of your resources while working abroad. For a faster and more accessible method of collecting rent, you can set up online payments using applications and software. If you want to socialize and interact with the tenant, you can order in person and have a short conversation to develop a good relationship with your tenant. Always keep in touch to gain more trust and a chance of getting consistent credit.
All rental facilities have a property manager behind their success, even property investments and condo for sale in the Philippines. It’s hard to manage your rental property since you are working abroad. You might want to consider hiring a property manager to do the work for you.
Managing a rental property is quite stressful and time-consuming for you. Besides, it takes a lot of planning and consideration to find success in this endeavor. Why not employ a property management company to perform the work for you? A property management company can work for you to focus on your career abroad for a minimal fee.
OFW and migrant Filipinos have become OFW investors in the Philippine real estate industry hoping to have a good return of investment from their hard work. Education is the number one factor in investing. There are so many resources that can be freely used on the internet today.
Discover more investments. Connect with Vistaland International today!
Whatever your reason for investing in a house and lot or condo for sale in the Philippines, increasing your money is the goal. Vistaland International Marketing, Inc. (VIMI) offers a wide variety of investments that you can choose to rent out the property. VIMI will help you plan financial growth from your hard-earned money. Enter the Philippine real estate industry with VIMI. Send us a message here for any concern or inquiries.
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.
The year 2020 was a tough time to adjust to the new normal at home and at work Several Overseas Filipino Workers (OFWs) dealth with homesickness. Some were laid-off their jobs and were immediately deployed. Vistaland International’s global network of OFW real estate brokers and agents also faced a whole new challenge last year: transitioning into the digital world.
Vistaland International’s network of sellers also had their fair share of struggles coping up with the new behavior of clients towards investing in real estate in the middle of a pandemic.
As they continued with their marketing campaigns into online platforms, they were still able to reach their monthly quotas and widen their scope. Enabling a few of them to achieve great heights despite the restrictions.
Last April 20, 2021, Vista Land International Marketing Inc. (VIMI) held its yearly awarding of their global real estate sellers via their website’s event portal. And with over 500 invited guests, VIMI was able to dominate their online reach across several countries.
Mr. Calingasan was awarded a special citation as one of VIMI’s recurring mentors and financial advisor and for his indelible contribution and profound impact to Vistaland International. As a financial advisor in VIMl’s regular international conferences, he has provided OFWs sound advice on financial management.
Like all good things, the fun-filled event had to end. Coming from Vistaland International’s president, Engr. Santiago thanked our participants and organizers who made the event successful.
In Vistaland International, our seller’s experience is also our main priority. We make sure that every seller can feel the essence of kinship wherever they may be, whether they’re a newbie or have been part of Vistaland International for several years.
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.
To every OFW and migrant Filipino who are looking for a house and lot for sale in the Philippines, VIMI has a diverse portfolio of OFW property investments for you. From socialized housing developments to condos for sale in the Philippines, Vistaland International can provide the right home for your family that fulfills your needs while exceeding your expectations.
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.
Have you heard about the new buzz in town? Well, hang tight as we’re here to bring exciting news! Let Vista Land International welcome you to ViCon: A Villar Group Convention!
Great news to our dearest Overseas Filipino Workers (OFWs) and migrant Filipinos! At Vista Land International Marketing Inc. (VIMI), we know how hard it is to find a reputable home builder while working abroad. From all the stress behind searching through online brochures and talking to various real estate brokers in the Philippines, it can be quite frustrating to push through.
Here at VIMI, we always look out for your welfare and offer the best investment opportunities within your reach. Get ready to connect with the prominent real estate developers in the Philippines this coming June 24-25, 2021! This virtual expo will surely kickstart your home investment process with us!
Living up to their name, the Villar Group of Companies once again make history as it launches the most awaited and biggest online property expo in the Philippines.
The ViCon is not just your regular online property investment conference. Gathering a dynamic group of real estate developers under the Vista Land and Lifescapes brand, Lumina, Lessandra, Camella, CrownAsia, Brittany, Camella Manors, and Vista Residences are among the majority of participants in the virtual expo.
Golden MV Holdings Inc., also under the Villar Group of Companies, is also among the top brands to participate in this event. Under the brand are Golden Haven and Bria Homes.
Vista Mall will represent the commercial industry as the shopping mall chain of the Villar Group.
Among the roster of guests are BusinessMirror, BusinessWorld, Manilla Bulletin, Philippine Daily Inquirer, The Philippine Star, and TFC are covering the virtual event as media partners.
While the real estate developers make up most of the participants, other retail brands such as All Home, All Day, All Digital, All Bank, All Easy, All Toys, All Bikes, All Sports, Finds Finds, Market Liberty, Happy Magnolia, Prime Asset Ventures Inc., Green Centrale, ShieldTec, Coffee Project, Crystal Clear, PrimeWater, and Streamtech are also joining the two-day event as brand sponsors.
Explore the different OFW investment opportunities available as we give you exclusive access to prime residential properties for sale and commercial spaces for lease.
Learn what the real estate industry’s esteemed experts have to say about the Philippine real estate industry and how one of these property brands could be your future dream home provider.
Lastly, just by simply watching the event online, you can win exciting prizes and exclusive investor’s promos!
Even when you are abroad, you can still join us in this virtual event. Reserve your slot today, you can register via www.vportal.ph.
Become an OFW investor today. Contact Vista Land International!
For over a decade, Vistaland International has provided homes and investment opportunities to every OFW and migrant Filipino. And with the goal to elevate OFWs’ lives, Vistaland International has also paved the way for financial awareness to our kababayans abroad.
So to OFW home buyer looking for a 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.
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.
Every year, in the second week of June, we honor all the fathers in the world. Many Filipino fathers have become OFWs with the goal in mind to provide a greener pasture for their family.
Filipino fathers are known for their sacrifices as pillars of the family. They will do anything for their family, even if it means working away from home. They will ignore homesickness to complete their contract and be able to send money back home. They will work hard and do part-time jobs to add an income for the family’s needs. They would miss many family celebrations for their family to enjoy it with their hard-earned money even if they are absent and can only join through video calls.
Celebrating Father’s Day with OFWs is difficult because of the distance and time, but here are five ideas you can try out to appreciate your OFW dad.
We know you miss having a meal together with your dad but have you ever thought of sharing a meal with your OFW father virtually? Yes, it is possible. It may not be as intimate as sharing it face to face, but it rekindles intimacy and harmony in the family. Like what you usually do, prepare a meal you can share with the rest of the family and have your tablet or phone set up. Also, check your internet connection for a smooth chit chat without interruption.
Filipino mealtime is when the family doesn’t just eat together but also time to share updates on each other’s lives, such as what new things the kids are interested in, what recipes the mom is exploring, and how the dad’s work has gone by. This is a good opportunity for the children to learn how to proactively share their thoughts regardless of their excitement, joy, or fear and where parents keep their ears open for their children.
Surprising OFW fathers have been a lot easier with the resources we have now, such as social media. You can prepare banners saying “Happy Father’s Day” with other designs that symbolize them. You may also want to bring in a Father’s Day Cake with Father figures like “Superman”. Of course, surprises are best shared with home-cooked food. You can prepare foods that are your father’s favorite, indirectly saying you remember everything about him from the little things even when he is away. While on call, share stories he missed in your life for the times you are separated.
Appreciating our OFW fathers is a lot easier with social media. There are many social media platforms you can use to show your love to your OFW father. Honoring your OFW dad in social media will boost their confidence and will motivate them to work harder. Boasting how they work hard and how you love them is just a simple appreciation of their efforts to bring you a promising future.
You can gather video messages of appreciation in the family. You can reminisce moments where you can’t forget about your dad or how good a father he is in the video.
Some ideas you can try in posting on social media:
Binge-watching your family’s favorite movie is also possible with technology nowadays. With online platforms like zoom and other applications, you can watch any movie you love. Choose a movie related to Father’s Day that will highlight your dad’s efforts to build a good life for your family. After watching, you can reflect on the movie you have watched. Highlight your father’s hard work by setting up a segment where everyone will appreciate and honor his efforts.
Gifts are a way of saying, “I appreciate you.” Gifts may vary in different sizes and prices, but a gift from the heart is treasured. A kid that writes a Happy Father’s Day card with his poor handwriting will surely melt his father’s heart. Any gift will do as much as it is given with love and gratitude, from buying his favorite drink to purchasing an essential tool for him and having it delivered to his workplace or current home address abroad. You can also ask for help from his colleagues at work or use an online shopping platform and have it addressed to where he is based. Sending a few goods from your hometown will also be good to make him feel at home even if he is miles away.
There is no perfect gift other than thanking and remembering him not only when he’s doing good but, more importantly, when it is getting shady for him and your family.
OFW dads are indeed superheroes. It may seem that they don’t need affirmations and appreciations, but they need a few words of encouragement every now and then to survive in a foreign land where they don’t have anyone to turn to but themselves. They also face moments where they feel they are not appreciated and moments where they think their family is just after earning money.
Honoring our OFW dad shouldn’t be occasional. It should be every day, affirming them that they are doing a great job in providing their family’s needs and wants.
Have you thanked your father for all his complex works? Even just a simple message of asking how they are doing makes them melt. Why not make a simple effort to honor your father for all the things he has done and about to do?
Appreciate them now. Not tomorrow or the next few years, but now! Build long-lasting memories that moves the heart.
Connect with Vista Land International!
Vista Land International was primarily created to bring OFW closer to their dream of finally acquiring a home in the Philippines. And with the rising cost of living in the country, OFWs and their families are looking for ways to earn extra cash flow to support their daily needs. Luckily, you can also join the global network of Vistaland International as a real estate professional and earn a commission!
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.
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