4 things OFWs need to know before buying property

There are still overseas foreign workers (OFWs) are buying property, although the number is less than it had been in previous years. Attractive investment returns coupled with affordable real estate prices in the Philippines have seen OFWs become increasingly active in the country’s property market. And with prices falling and discounts widely available, OFWs with cash in hand may be able to take advantage of some favorable deals.

However, preparing for the property buying process isn’t always easy if you’re an OFW. Burning vacation days flying home to search for and purchase a property isn’t ideal. That is valuable time you could be spending with friends and family. But if you’re prepared, buying real estate in the Philippines from overseas doesn’t have to be troublesome. Here are five things OFWs need to know before buying property.

1) Start your search

If you are living outside the Philippines, there are a number of websites where you can search for properties back home. For example, Dot Property Philippines – the very website you’re on – has the country’s best selection of real estate spanning the entire country. You can search for a property based on your budget, location and multiple other factors making easier to find the right condo or house no matter where in the world you happen to be.

2) Pick the right seller

These days, some property developers and real estate agents specialize in working with OFWs. If you want a smooth process, it is best to find one of these sellers. Not only can they advise you on common issues OFWs must deal with, but they may also be able to facilitate a deal that doesn’t require to be in the Philippines.

3) Get your documents ready

Don’t procrastinate getting all the necessary paperwork ready. If you want to buy a property, you will need to have all of these documents:

  • Signed and consularized Special Power of Attorney (SPA)
  • Photocopy of important IDs (passport, driver’s licenses, etc.)
  • Proof of billing of utility bills
  • Proof of income
  • Tax Identification Number (TIN)
  • Certificate of employment

4) Understand how the property will generate income

Chances are, you want your property to generate income while you are overseas. Maybe you are planning to have family live there and this isn’t a concern for you. But if that isn’t the plan, someone will have to manage your property in order for it the generate rental income. It’s important to understand how this will work before you buy.

A number of condo developers now offer property management services meaning they will find someone to rent your unit and take care of it for a percentage of the revenue generated. Alternatively, the are several companies who can do this as well. Whatever you decide, make sure you have done your research ahead of time to ensure you aren’t stuck with an empty property.

lifted from: https://www.dotproperty.com.ph/blog/4-things-ofws-need-know-buying-property?utm_source=ActiveCampaign&utm_medium=email&utm_content=4+Things+OFWs+Need+To+Know+Before+Buying+Property&utm_campaign=DP+Philippines+Newsletter+24FEB2021&vgo_ee=jwsNAJBEZx3iDwqabbNmVdSYFmrMikCwlKFARSZoYAo%3D

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4 Tips to help you get the Best Price during real estate negotiations

Getting the best price during real estate negotiations doesn’t have to be a painful process. In fact, it can be a very hands-off affair if you hire the right real estate agent. The key is knowing what to do and when to do it.

There are two important things you should note. First, don’t take things personally. This is about getting the best price during real estate negotiations, not making new friends. Second, you should have an idea of what is acceptable regarding terms before starting any negotiation. This will ensure you can reach a positive result.

Tips to help you get the best price during real estate negotiations

1) Let your real estate agent do the heavy lifting

Unless you like negotiations or are good at them, you don’t really need to be involved with much of this process. Your real estate agent is more than capable of fighting to get you the best possible deal. A lot of buyers end up costing themselves money by being in the room. That’s because they either give away just how much they like the property or are afraid to drive hard bargain.

2) Respond quickly

If a seller names a price or gets back to you with a counteroffer, respond as soon as possible. The more time you take allows them to field other offers from potential buyers. You don’t need to get back to them right away, but you can lose the upper hand in a negotiation if it takes weeks to respond.

3) Don’t put all your eggs in one basket

You have no idea how negotiations will play out. It is vital you keep your options open or at least appear to be doing so. Failing to do this allows the seller to negotiate from a position of strength since you don’t have any backup plans.

4) Walk away and let the seller come back to you

If you really want to get the best price during real estate negotiations, sometimes it pays to walk away. If the process has reached a standstill where no progress is being made on a deal, stepping away from the table may be a way to break the deadlock.

This is risky and it is a strategy you need to discuss with your real estate agent beforehand. Some sellers may not come back, especially if they have other offers out there. However, those serious about selling and without other buyers will likely return willing to negotiate.

lifted from: https://www.dotproperty.com.ph/blog/4-tips-help-get-best-price-real-estate-negotiations?utm_source=ActiveCampaign&utm_medium=email&utm_content=4+Tips+To+Help+You+Get+The+Best+Price+During+Real+Estate+Negotiations&utm_campaign=DP+Philippines+Newsletter+24MAR2021&vgo_ee=jwsNAJBEZx3iDwqabbNmVdSYFmrMikCwlKFARSZoYAo%3D

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Why Real Estate Is The Best Investment For Retiring OFWs

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:

  1. 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.
  2. 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.
  3. 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.
  4. 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!
  5. 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/

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4 Reasons Why Your Ideal Residence is in a Mixed-use Development

astra condominium

Last Updated on July 1, 2020

When buying a property during this pandemic, the overall environment is one of the key factors that home seekers are now looking for. With the expectation that a similar situation may happen in the future, the address becomes as important as the actual home. 

A crisis-ready neighborhood with access to essentials; a place where you can work, play, live and shop; a community that provides access to all your needs yet keeps you close to the hustle and bustle of the city. You want a home that allows you to embrace a lifestyle that offers everything within reach and mixed-use developments are the answer to the current dilemma of homebuyers in this age of quarantines, lockdowns, and border controls. 

Mixed-use developments are exactly what they sound like: they’re a type of development that blends residential, commercial, and leisure spaces into a single location. It features a cross-section of a community where people gather to work, live, and thrive.

These types of developments provide a more comfortable work-life balance for its residents, reducing the need to go far for work or recreation, as the residents can do work, social and personal activities right inside the mixed-use community. During a pandemic, it provides security and convenience. After a crisis, it rejuvenates the different components within the community.

All-in-One Living

One of the very few key projects in Cebu that provides a holistic life approach in mixed-use developments is Astra Centre located in AS Fortuna St., Mandaue City, the city’s commercial and leisure center.

It features residential and office spaces, as well as a lifestyle mall and a hotel. Once completed, you’ll see a modern and upscale design. With its unique features, such as a multi-deck, bold canopy, punched windows, and articulated glass, Astra Centre sets a standard for other mixed-use developments in the metro that boasts of being a future-forward development.

With stunning amenities within the community, as well as a promising location, future dwellers can experience a modern, dynamic lifestyle in which they can live, work, and thrive, all in one place.

There’s really no surprise in how future-forward Astra Centre is, given that it’s a brainchild of the leading VisMin real estate developer, Cebu Landmasters, Inc. (CLI). If you’re keen on moving to a new neighborhood, one that is crisis-ready, this CLI project is worth considering. These are the various spaces you can expect in the development

Residential Spaces

One Astra Place is the residential component of Astra Centre, featuring 28 floors and a range of exciting leisure amenities. Residents will have access to the infinity pool, kiddie pool, jacuzzi, and function halls. You’ll be able to use the fitness gym, al fresco areas, and sky deck, among other facilities. 

astra centre cebu

When it comes to unit types, you have plenty of options. The studio units range from 22.64 sqm to 23.61 sqm, equipped with sleeping area, toilet, and kitchen. The one-bedroom studio units, meanwhile, have 36.56 sqm to 47.05 sqm floor area, featuring a sleeping area, living room, dining area, toilet, kitchen, and vestibule.

One Astra Place is pre-selling with a few units left available. The expected turnover of the condominium will be in September 2024.

1 bedroom condominium in astra centre cebu

Retail Spaces

With a two-level lifestyle mall, Astra Centre will feature indoor and outdoor retail areas, covering dining and entertainment amenities. Redefining the whole retail experience, Astra Centre’s lifestyle component will provide an opportunity for people to gather, stroll, and socialize. 

Residents will find it more convenient to shop for their essentials in the grocery and convenience stores, catch up with friends and loved ones in the wide variety of dining and restaurants, and bond with friends through leisure activities like watching a movie in a state-of-the-art cinema.

Aside from good social well-being, your physical health improves as well. The proximity to grocery stores, boutique shops, and restaurants promotes walking, making the active lifestyle second nature to you.

commercial spaces in astra centre

Office Spaces

Astra Centre will house an office building that has 15 levels of premium spaces. All kinds of enterprises including business process outsourcing can benefit from the synergy of the 4-in-1 development. Whether you’re an entrepreneur leading a start-up or if you’re part of a large corporation, this community will provide convenience to the employees with stores and shops within a stone’s throw away offering a wide variety of goods and services. 

Residents working within the community can eat at nearby restaurants while business travelers can stay in the hotel adjacent to their office. Proximity to recreational activities or gyms can help keep employees and residents healthy, happy, and productive. 

astra centre condominium in mandaue

Hotel 

The first Radisson RED hotel in the country with a ‘’lively and flexible’’ hotel concept is unique with its upscale service and future-forward smart technology attracting the tech-savvy and millennial travelers. One unique feature is the Radisson RED app where hotel guests will have the convenience of digitally checking in, enabling them to head straight to their room by unlocking the door using their smartphone and not needing to go to the reception.

Radisson RED will house a 146-room with different amenities that the guests can enjoy such as pool deck, pool bar, gym, lounge, sauna & spa, meeting rooms, and events area. 

The presence of Radisson Red in Astra Centre makes it a more luxurious destination, proving beneficial for both residents and businesses in the mixed-use development. Residents can, once in a while, indulge in a staycation. Entrepreneurs can provide upscale accommodations to their colleagues coming to town. Retailers will find a steady stream of shoppers from hotel guests. This one-stop-shop and work, play and stay feature provides a good flow of overall guest experience. 

radisson red cebu

Live, work, and thrive where work, life, and leisure are brilliantly intertwined. Make One Astra Place your future address and reserve a unit today! 

Original Article: https://www.lamudi.com.ph/journal/ideal-residence-mixed-use/

FULL DETAILS & COMPUTATIONS : https://gabrielrealtybrokerage.com/?property=one-astra-place-tower-2

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