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Condo Living | OFW: The Modern Day Heroes

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Filipinos are known to be everywhere, may it be around Asia, America, Middle East, or in Europe, there is always a big chance that there is an interaction with a fellow kababayan. But when the time comes, they will return back home and settle. Most of the time, the balikbayans allocate their hard-earned money for a long-term investment such as a house, family vehicles, and other usable things they need when they finally retire. Vista Residences Inc. recognizes all the efforts of all the OFWs, the modern day heroes, that is why the company always makes sure that their investments will be worth it. We provide various significant investments such as ready for occupancy condo and pre selling condo giving them a high quality condo living experience, making their upcoming stay smooth, safe, and sound.

OFW: Who are they?

Overseas Filipino Workers, most commonly known as the OFWs, are Filipino migrants based in other countries, either from neighboring countries or countries on the opposite side of the planet. They all have various skills sets, either as a helper, a cook, a medical personnel, or as an assistant, offering their different services to their boss. Their economic contribution to our country is so massive that it becomes one of the significant factors in our GDP - thanks to the remittance that they send to their loved ones. Such hard-earned money deserves an essential investment, like a ready for occupancy condo perhaps, that will give them an assured shelter once they come home.

Two million Filipinos, or 2% of total Philippine population are OFWs. Imagine such a number of people who choose to work abroad and leave their own families, taking care of other people instead of their own, it takes a big sacrifice to do that. Therefore, the best way to give back is to make sure that their sacrifices will not be put into waste and their earned-salary is kept safely. They need to invest it in something valuable. Vista Residences offers pre selling condominiums, perfect for OFWs, so that once they get home a nice, warm, and safe home awaits them. Condo living ensures the OFWs a more accessible choice on what setting they want to experience especially when they want to seek future opportunity. Do they want a breezy and cold environment? Get a condo in Baguio. Pre selling condominiums such as Brenthill, Canyon Hill, and Pineshill await them. If they are into beach and tropical feels, they can opt to choose a condo in Cebu. Suarez Residences which is located in the heart of Cebu, allowing them to experience metro Cebu, close to the Cebu Business Park, Fuente Osmena Circle, and the Cebu Provincial Capitol. Condo in cagayan de oro, on the other hand, completes their Mindanao experience. The Loop Towers is a perfect way to welcome people who are looking for better opportunities who are looking for a fusion of city and suburban life.

Why are they called Modern Heroes?

OFWs’ economic contribution to the country's growth makes them the modern heroes. The Philippines placed top 5 on countries that are benefiting from the remittance. These remittances are from the money that they sent back home. 

How exactly remittances contribute to the Philippine economy?

Exchange Rates

The stronger Philippine Peso, the better. The huge amount of remittances means Philippine Peso gets stronger.  The more it becomes stronger, the weaker US dollars get. Since most of our debt is in US dollars, the weaker the dollar is, the faster we diminish our debts (in dollars).

Household income

The main purpose of the remittances is to give back to their families. Either they rely completely on it or use it to supplement their existing income, such remittances enable them to fix their monthly income getting a large portion of it.

Standard of Living

The Families of OFWs felt the huge impact of remittances directly to their household income; thus, an improvement of their living. Economists stated that it has positive correlation when it comes to the improvement of health care, education, and entrepreneurship. Since most of the OFWs came from different parts of the country, such improvement covers not only within the cities but also locally - this includes barrios and lower class municipalities.

This only means OFWs play a salient role not only in boosting the economy, but also in uprising their own community. But not only that, economic development implies that each community experiences progress and is turning to a business hub. This is the perfect time to seek opportunities. In Quezon City, for example, there are a lot of open doors out there. Living in that particular location offers a big step closer to new options. Pre selling condo in Quezon City brings you a total experience on the city’s busy streets. You can choose Howthorne Heights or Vista Pointe for an accessible option, or a ready for occupancy condo, Vista 309 Katipunan, that features full amenities perfect for your kind of lifestyle. 

Even heroes need to retire

OFWs will eventually go back home for retirement - every person’s career also has endpoints, actually. For sure, every overseas worker has the same mindset on keeping some of their earnings and investing it into something profitable. Real estate is one of the most recommended investments due to its stability and long-term value appreciation. Vista Residence offers a variety of options and is open to choose from. From all over the country we have pre selling condo, ready for occupancy condo, and condo for sale units, either they opt to live in a suburban life (a condo in Cebu or a condo in Baguio)  or within an undeniable business hubs (condo in Taguig or a condo in Makati), Vista Residences is always here to accommodate their condo living needs.

What other investments are worth investing in?

Aside from properties, perhaps pursuing a condo living, there are still other fields that are worth investing in.

Retirement Plan

It is important to have a plan once we stop working; plans both on our future projects and financially. Basically all of us will experience aging and our body will not already respond to our needs. Also, having a plan prepares you once there is an emergency. You do not need to worry since you are already financially independent and can face any financial challenges.

Invest in Government-partnered Projects

Different government agencies open various partnerships especially for OFWs who are willing to invest in entrepreneurship and plans to enter business. As a matter of fact they are already offering through digital platforms to ensure that it will be accessible for OFWs, easy for them to be encouraged.

Life Insurance

Similarly to retirement plans, Life insurances manage to allocate needs especially for your fortune. May it be for your child's education, personal consumption, or for putting up a business, life insurances are essential not only for OFWs but for everyone that is serious on their future endeavours. 

Still, the most effective way of saving for the future is by starting to save as soon as possible. The more time to save, the more will be earnings - but always make sure to insure savings and pick an investment that is relevant and for the long term. Buying a pre selling condo may be a good investment since it can be offered for rent if they are not into condo living.

OFWs Living for good: A starter

Let’s say they have decided when to live for good, the next step now is on how they plan to do it. Here are some salient tips to make a swift transition from being a career-person to a retired one.

Finishing debts

One of the main reasons we are eager to have a salary is because we want to pay the bills, debt, right? But how about when retirement comes? Since the source of income will be cut, the best thing not to touch the savings is to pay all the debts when there is still to pull.

Downsizing

Another important factor to consider is to change their habits, or maybe tweak their lifestyle a little bit. Retirement means they are limited both physically and financially. Of course there are things that they can’t already do, most importantly there are things that they cannot afford, too. It is best to spoil when the source is still up. For example, finish the condo design goal already, buy all the things needed before your source of income will come to close. 

Hire a Financial Advisor

Quite hassle and expensive may it be, having a financial adviser can help to be knowledgeable on expenditures. Some financial advisors recommend doing future investments. Buying a pre selling condo, for example, is recommended not only for personal consumption but for business. Try opening the property for rent - they can earn while someone is enjoying their condo living experience.

What to expect after coming back home?

Cons and benefits of retirement

The best thing about retirement is that workloads are over, having freetime without thinking about how and when it will end, and most of all going back home to their family from a long term separation. There is nothing more cherishable than meeting their loved ones again. That is what makes retirement good, going home feeling accomplished, meanwhile the nostalgia warmly welcomes as they bust the streets of their barrio on their way home.

But that feeling of happiness only lasts maybe for a week or two. After all the “salubong” comes an emotional crisis of questioning their being: “what to do next?” Of course anxiety always comes when spending. Even though financial needs have already been planned prior to retirement, predicting inflation is hard. Come are the days where uncertainty kicks in and such savings will be outlived. Even though these scenarios are anticipated, there should not be panic because if it’s carefully planned and studied through the help of financial advisers, handling such a crisis takes no time. 

The best time to retire

For some, retirement comes when they reach their 60s, others retire earlier because of their own personal reasons. It actually depends on us when we should stop and rest. The best signal to retire and go back home is when they finally saved for their future, invested in business and properties. The earlier they start, the earlier they can complete and can set retirement. If not, then otherwise.

What to do at the retirement stage?

Going back home is a time not only for resting but also a time to reflect on what they can do aside from doing the same work and expertise for years , or for some, several decades.

Focus on personal growth

Seeking for growth not through age but within the soul - what else can they do and can offer to others. The best thing to know oneself is by growing, and the best way to grow is through experience. They can use this time to reflect on the experiences, use it to further grow, and learn from it.

Celebrate small wins

Being exposed to competitive work, especially abroad, is sometimes tiring. Since they are already taking an end from a competitive workplace, it is time to celebrate small wins and be mindful of smaller details. It is the small things that largely contribute to someone's growth. Simple things impact bigger achievements.

Be flexible

Doing the same thing for a couple years inhibits learning new skills and expertise. They can utilize this time to discover a new skill - can it be cooking, painting, writing? Whatever may it be, one thing is for sure: there is no time limit and sky is only the limit. Be flexible in figuring it out.

OFWs deserve more, as grand as prestige condo living and as special as Vista Residences condo design - you name it! With their unwavering contribution not only economically but with the sacrifices they have made for their families, providing them the modest life they can, there is no doubt that overseas workers are considered to be the one of the greatest modern heroes.

Vista Residences is the condominium arm of the country’s largest homebuilder, Vista Land & Lifescapes, Inc., which offers ready for occupancy and pre-selling condominium projects in Manila and Quezon City that are strategically located within inner-city areas, in close proximity to premium universities and developed business districts.

Living in Vista Residences enables you to enjoy convenience, where everything is pretty much within walking distance or a few minutes away from the property; comfort because the project features and amenities are designed to deliver comfort at all times, which makes condo living a worthy investment; security that is 24/7 and CCTV monitoring, which makes the residents safe and secure within the property.

In line with Vista Residences’ thrust to offer convenience among its residents, it also features an AllDay Convenience Store and Coffee Project in all its projects.

Vista Residences is part of Vista Land’s roster of vertical housing brands that cater to millennials and young professionals. The other vertical brands include Camella Manors, COHO, and Crown Asia.

For more information on Vista Residences, email [email protected], follow @VistaResidencesOfficial on Facebook, Twitter, Instagram, and YouTube, or call the Marketing Office at 0999 886 4262 / 0917 582 5167.