Millions of OFWs (overseas Filipino workers) toil in various countries every year in order to help their families back home. Because of their ability to turn in billions of dollars’ worth of remittances, their spending prowess is definitely undeniable. While most OFWs work to send their loved ones money for basic needs like food, shelter and education, there are those who would like to see some growth in what savings they are able to put away, and this is where real estate investment comes in. Here are some of the reasons why OFWs should look into investing in houses for sale, or any form of property while they have the means to do so.
A great selection to choose from
According to Philippine real estate news, there is a great supply of real estate opportunities in the country these days. While this can be viewed negatively by people trying to sell their properties, buyers like OFWs can rejoice in the fact that they will have the chance to find the property they want faster and easier.
Immediate income through rental
OFWs can begin receiving income almost immediately when they buy a house in order to rent it out. Many people nowadays are choosing to occupy houses for rent, which means that, as long as you choose a prime real estate spot, finding a tenant won’t be too hard to do.
Less risky than stock
Even though investing in stocks can be a good way to make money, stock values tend to go up and down really fast, which can cause an investor to earn money quickly, or to lose it just as fast. By purchasing a house for sale, OFWs can rest well at night, knowing that the value of their property won’t plunge overnight.
Tangibility of real estate
Investing in something that you can’t see, such as stocks, can be scary to some people. Because they can’t see or touch stocks, they are afraid that their money will not be secure. Buying a house and lot for sale removes this feeling because of the tangible nature of a property.
As long the house to be bought is located in an area where good real estate market conditions are generally consistent, its value appreciation is almost a guarantee. This means that OFWs can easily walk away with a hefty profit should they decide to sell their property in the future.
There is no doubt that investing in a real estate property can be beneficial for OFWs who want their savings to grow. If money is a concern, there are a lot of groups that offer housing loan options specifically for OFWs, such as the government, banks and private lending companies. Also, it would be best to do some research or to get help from a real estate agent if investing for the first time.