OFW’s Checklist in Buying a Condo in the Philippines

Oct 24, 2021

Real estate is one of the best investments that OFWs can choose once they stay for good in the Philippines. A condo in the Philippines is one of the types of properties awaiting their homecoming. To guide them, here are some of the factors they need to assess to assure a smooth condo living transition.

Review budget

Before getting involved and immersed in buying a property, rechecking the budget must come first. Weigh in all the possible expenses not only of the property itself but some of the external fees. Other fees include transportation going in and from the site, interior design, appliances, or maybe even the minor expenses along the road like labor and maintenance fees. Remember that it doesn’t stop preparing the exact amount needed for the property because every condo living journey starts from there.

Do some deeper research.

Digging deeper on the information about the condo comes next after an estimated cost is settled and the type of condo is decided. Assuming an ideal style and design are set, the next question would be: in what place is the property located? Consider also the kind of condo within budget. Will a pre-selling condo be attainable or does a ready for occupancy condo work? These are some of the main questions that a property seeker should dig deeper into.

Discover property management

It may be new for some, but this kind of management helps find what’s best for the money earned by an OFW and property seekers in general. If there is no time for the buyer to check on the ongoing maintenance and construction and has no time to supervise daily, a project manager can take the palace. It is essential for an OFW who wishes to invest immediately but is having trouble in terms of time management. Project management helps keep one’s investment organized and can fast-phase the road to the much-awaited condo living experience.

Find the perfect location

A perfect location is defined in terms of the proximity of essential goods, has an open door of opportunity, and can commit to a serene yet productive condo living experience all at the same time. There is an array of condos in the Philippines that can offer the perfect location or even more.

For OFWs looking for a place for retirement, a ready for occupancy condo outside metro manila is an option. Located at a peaceful site but still close to the metropolis, Cagayan de Oro is the perfect place. The Loop in CDO gives a combination of serenity and suburban life. The city’s thriving economic developments and the coastal and mountainous landscapes wrap up the best condo living experience that OFWs are looking for.

Why should OFW opt for a condo in the Philippines?

Real estate properties are on top of the list when it comes to future investments. It is a big venture because buying a property is expensive in itself and can be a source of income. OFWs who are returning home are looking for something to use their earnings and roll it to grow even more. Purchasing a condo in the Philippines fits such a goal. A luxurious condo living can pay off all their hard-earned labor, and perhaps they can use it as a source of extra income by opening it for short-term renting. But aside from being a home and a business, there are still other reasons why OFWs should invest in a real estate property, specifically a condo unit.

Comfort and Luxury

Luxurious and comfortable condo living is one of the main assets of every condo in the Philippines. Most real estate developers choose strategic locations to develop properties, allowing future buyers to have a comfortable life even within hustling cities. The futuristic yet idealistic amenities that most of the properties offer make it comfortable to live in. On the other hand, positioning properties in the most lively and economically developed commercial centers helps establish the luxurious vibes - close to malls, prestigious universities, and business establishments.

More affordable compared to other Real Estate Properties

Condo units are relatively smaller than other real estate properties such as villas, houses and lots, townhouses, or even beach houses. Such size perfectly fits a family of an OFW and can minimize their cost. It also allows them to live close to scenic sites, business hubs, or even famous tourist spots.

Security and less maintenance

Security is an undeniable feature with most of the condo’s inclusive services today. A house and lot’s security features, for example, will still be covered by the owner. Meanwhile, living in a condo, security services will be instantly provided once moved in. Also, a pulling factor is its lesser maintenance, thanks to the people who will already take care of it.

What are the benefits of buying a condo in the Philippines to OFWs?

Aside from the mentioned points, buying a condo in the Philippines, especially for returning OFWs, offers undeniable business and personal benefits and advantages. It is almost unimaginable to think that there is something to invest in after countless years of hard work and longing for family. There is nothing more satisfying than capitalizing on a property to grow such income further. The benefit of buying a condo does not stop at having a complete condo living experience; that is just one of the perks that OFWs get. It can also expand as another source for future expenses, given that their income was cut off. Not only that, using some money and allocating it to something relevant is also for financial security. Here are some of the salient benefits of buying a condo for OFWs.

A form of passive income

Homeownership can lead to wider opportunities. A ready for occupancy condo can be used as a personal space and as a form of passive income. It can be more marketable if such property is situated in the most commercialized centers or a popular tourist destination. A move to buy a ready for occupancy condo will ensure an income still coming in even after retiring at work.

As a second home

Real estate properties are usually located in the most visited tourist attractions, allowing future property owners to experience the city’s best even though away from home. For OFWs planning to invest in a second home, or a place just for a quick vacation, buying a condo can be encouraging. It can serve as a place for a break, perfect for a needed family bonding.

Financial risk mitigation

Hard-earned income will never be more secure if it is allocated to something relevant. There are some ways to make sure that one’s money will not just be stuck - buying a condo is one of them. Real estate properties in the city, such as condominiums, appreciate. The property’s worth grows over time, making its resale value increase as well. Ready for occupancy condos also have quick selling features. This means offering it to someone is not a real challenge, having a guaranteed and fast cash-back.

The bottom line is that investing in a condo is one of the most common ways for OFWs to secure their hard-earned penny, but in buying a condo in the Philippines, they must not be compulsive. Inputting a considerable amount of money into something as big as real estate properties, one must learn the price and its responsibilities.

Start investing in real estate with Vista Residences.

Vista Residences is the condominium arm of the country’s largest homebuilder, Vista Land & Lifescapes, Inc. that offers ready for occupancy and pre-selling condominium projects in Manila, Makati, Mandaluyong, Quezon City, Ortigas, Baguio, Cebu, and CDO that are strategically located within major cities, in close proximity to premium universities, transit oriented locations and developed business districts.   

At Vista Residences, unit owners can take advantage of the property’s centrality. The properties of Vista Residences are strategically located near the country’s premium universities and CBDs, making them an attractive investment for both local and foreign investors.

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.

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.

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