by Silingan, a Primary Homes blog
Being an Overseas Filipino Worker is not easy. It takes a lot of sacrifices and you can only imagine how difficult it must be to work in a foreign land away from your loved ones. OFWs endure the loneliness and hardships just to give their families a better future.
As the years go by, you realize that you cannot be an OFW forever. You eventually want to rest and retire but of course, you need to make sure you have enough funds to do this. Saving is most people do but is it enough? Here are the reasons why investing in real estate is the best way to go:
- Real estate is a safe investment. The value of land always keeps appreciating. With the volatility of the stock market these days, you would want to invest your money into something that is tangible and real.
- Can be used as leverage. Say there is an emergency and you need to get a loan as soon as possible. Owning a property means you can use it as leverage to get a loan. Lenders usually check your credit history, income, debt, and credit score to verify if you could pay back the money you loaned. By owning a property, you can secure the loan by having your property as collateral so that you can surely get that loan approved.
- Can be monetized. You can earn a passive income by having your property rented. Many applications in this digital world can help you earn money by allowing guests to stay in your place for a limited period of time. This is perfect because you can still use your place any time but if when nobody is using it, at least there’s money that goes in which you working extra hard to make it happen.
- You can use it. You don’t need to worry if you too tired to go home after a long day with the kids. By owning a property in a prime location, you can rest easy knowing that you are not wasting your precious time being stuck in traffic on your way home!
- Legacy Investment. Real estate is one of the common things passed down from generation to generation. Bypassing it on to your kids you can assure them that no matter what happens in life whether the economy is booming or not, they will be assured that there will always be roofs on their heads and they have a place to call home.
The original article is lifted from this site, all credits are yours: https://silingan.com.ph/why-real-estate-is-the-best-investment-for-retiring-ofws/