Step-by-step Guide to Buying Property for OFWs
Everyone dreams of being able to buy their own home, especially among Overseas Filipino Workers (OFWs), who are oceans and continents apart from their loved ones so they can improve their quality of life. So it is nothing short of encouraging when OFWs are empowered to purchase homes for their families or as part of their additional investment.
If you are an OFW looking to purchase your first property, it may seem overwhelming to maneuver the logistics of being thousands of miles away. But it doesn’t have to be. With the assistance of trusted real estate companies, available financing options, and the help of your family and friends, purchasing your dream home can be done without a hitch.
Intent of the property
Knowing your intent in purchasing the property is the first step to understanding the requirements. Are you planning to buy a big house that can comfortably fit your entire family? Are you looking to acquire a unit in the mid- to high-rise range near the business district? Or do you plan on eventually renting it out? Recognizing your intentions will also assist in narrowing down other considerations such as the property’s location, available amenities, accessibility and the like. Another factor to consider is whether you prefer to buy during the pre-selling stage or if the unit needs to be ready for occupancy.