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No matter how big your income is from working abroad, your hard-earned money must be spent wisely, especially if you’re buying real estate
There is no place like home. You may visit a dozen beautiful cities or live and explore various countries, but nothing beats going home to your own. This is why many overseas Filipinos still prefer to put their hard-earned money to quality living spaces back here in the Philippines. Be it for their families that they have left behind or for a place to go home to—an investment property is their top priority.
As the number of overseas Filipino workers (OFWs) grows, the demand for real estate is riding the upsurge, mainly because more and more Filipinos now have the financial capacity to own a property. One of the top choices of many balikbayans are condominiums. This is a preferred real estate investment by many OFWs as they are easy to rent out and stress-free to maintain. It also serves as an ideal vacation home whenever they are back in the country. More importantly, condominiums need not be closely monitored as opposed to personally having your own house and lot.
The flexibility of condominium residences also made it one of the best options for investment as it can be rented out to yield extra income or serve as a permanent residence. To aid Filipinos living abroad in their search for a lucrative real estate investment, here is a simple condo-buying guide to make the search for that perfect property easier and more enjoyable.
1. Explore and Inquire
In the hunt for the best condo, it is always a good idea to embark on a meticulous and diligent research. Compare prices, amenities, and location offered by different real estate developers. And while you are at it, check out the track record of the companies behind these projects. There are several websites that can help you in this task such as Lamudi and MyProperty where you can find thousands of real estate listings from property developers and licensed brokers all over the country.
2. Appoint a Trustworthy Legal Representative
For most OFWs, a trustworthy relative is your right hand in securing the property. It is always advisable to choose the closest kin, preferably your spouse, any of your children, a parent, or a sibling. Obviously, a very close communication is required between you and your representative. Legal supporting documents must also be ready. Since your legal representative will sign the documents on your behalf, it is inevitable to execute a Special Power of Attorney (SPA) to ensure seamless processing even if you are miles away.
3. To See Is to Believe
You can only do so much using the Internet, no matter how advanced technologies are today. At the end of the day, a real estate investment must always be seen and experienced. If you have a shortlist of promising developments, doing an ocular will definitely help narrow down the search. This is important since you will be shelling out a large sum of money. Likewise, this generally applies if you are eyeing a completely finished and ready-for-occupancy condominium like Tribeca Private Residences. A first-hand experience is a must to see not just the condo unit itself but also the amenities being offered.
4. Get a Licensed Broker
Just to be on the safe side, tell your representative to find a licensed real estate broker to help you look for your dream investment. Almost everything you need to know about the project details and processes will be cascaded to you by the broker, hence, a registered real estate professional is a good way to feel secured.
5. Choose a Value-for-Money Property
Choosing an affordable home with a myriad of exciting amenities plus a quality unit can be yours. This must be the goal when finding your next property investment to ensure that your hard-earned money is spent wisely.
One perfect example is Tribeca Private Residences. For a very minimal amortization, you can already enjoy a condo unit with an estate that boasts an aqua park with an infinity pool, Jacuzzi, water playground for kids, and massage cottages. The 9.7-hectare project also offers active-space features like playgrounds, life-sized playhouses, sandbox, fitness circuit, jogging paths and barbecue areas.
Located along East Service Road, Sucat, Muntinlupa, Tribeca is situated in a prime area in the south near the central business districts of Makati and Alabang. It is conveniently located near private schools, hospitals, shopping malls, and Manila’s Ninoy Aquino International Airport. Developed by Landco, a property developer known for its luxury resorts and lifestyle projects, Tribeca is set to raise the bar of lifestyle living at the heart of the Metro.
This article was sponsored by Landco.
Tribeca Private Residences has set a new standard for condominium living in the South, providing a leisure and resort setting for today’s urbanites. This first-class property boasts of a 1800-square meter Aqua Park, three-hectare Central Park with open and active spaces, and Clubhouse. Located along the South Luzon Expressway in Muntinlupa, Tribeca Private Residences is conveniently located near the Makati and Alabang CBDs, private schools, hospitals, shopping malls, and airports. This is one of the creations of the real-estate developer Landco Pacific Corp., who develops leisure communities, resort-inspired condominiums, and luxury home communities. As the purveyor of resort living experiences for 25 years, the company has consistently pioneered innovative and outstanding lifestyle products that revolutionize the way people live.
Main image via Shutterstock
| For further information regarding the process, requirements, prices, and fees associated with buying a condominium unit, as well as other related articles, visit The Complete Condo Buying Guide by Lamudi. |
