Are you an Oversea Filipino Worker (OFW) and wondering whether it’s possible to invest back home? It’s very possible to invest in the Philippines while you are abroad and especially in real estate.
Investing in real estate guarantees a source of passive income and you can opt to use the investment as your retirement package. If you have been looking for ways to make this dream come true, we have compiled a few tips on how you can make this happen.
- Understand clearly what type of property you want to invest in
People purchase properties for various reasons. Do you need a rental property or a residential home? Once you are certain about the type of property that you want to invest in, you will have a clear picture of what you need to factor in when making your buying decision.
Some of the most important factors to consider include; property price, location, type, and your budget. When you already understand what you are looking for, you are likely going to get the best deal that matches your budget.
- Buy from a reliable real estate developer
When you decide on investing in the Philippines, it is advisable to only buy from a real estate developer who has a proven track record of quality and trustworthiness. To do so, you can look at their previous projects, analyze their background, the transaction process, website and physical location.
Ayala Land, Rockwell Land and Megaworld are one of the leading real estate developers in the Philippines that you can buy from. They have many years of experience in the real estate market and have been awarded several times due to its top notch quality projects, trust and transparency. A strong company background is a testament of high investors’ confidence.
- Work with a reliable real estate agent
Not all real estate agents/brokers are trustworthy and reliable. Therefore, you should be very careful when looking for a real estate agent. Most new home buyers are tricked with very lucrative offers by these fake brokers and they end up losing their hard earned money.
Therefore, ensure that you have done your background research well before you engage with any real estate broker. Only work with licensed real estate agents like RE/MAX ROYAL who has a track record of trust and honesty in all their past transactions.
The importance of trust cannot be underestimated when it comes to real estate business. Buying a property requires a lot of money and it takes time to save such huge amounts. Therefore, you should ensure that you have a trustworthy person who can handle such sensitive transactions on your behalf while you are abroad.
You can work with a trusted family member or a close friend who are responsible and honest enough to handle both financial and legal transactions without malice but best would be if you work with a local real estate expert like RE/MAX ROYAL to be on the safe side.
- Always invest in the right property
What is more important than anything else is the quality of the property that you will eventually invest in. In order to get maximum return on your investment, it’s important to ensure that your property have met all your set objectives and it can appreciate in the future.
Although the real estate market in the Philippines has recorded a sharp increase in growth, property valuation is still very significant. The most popular locations in the Philippines that is fetching higher returns for investors are in Makati City and BGC, Taguig City. These are a prime locations and have recorded a high demand for residential and commercial properties.
Contact RE/MAX ROYAL today, and get your professional broker for efficient services.
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