Own a property I can either live in later or use as an income?

Hi there! First of all, it’s great that you’re thinking of investing your hard-earned money into something solid like real estate. A lot of OFWs take this route to prepare for the future, and it’s definitely a smart move, if done right.

Here are some key things to consider as you start:

1. Know your purpose first
Are you buying for:
* Personal use later (retirement/returning home)?

* Rental income (e.g., condo for rent or apartment unit)?

* Long-term land appreciation?

Knowing your purpose helps you decide what kind of property to buy— residential, commercial, or even a vacant lot.

2. Choose the right location
Look into areas with:
* Good infrastructure and accessibility

* High demand for rentals (if income is the goal)

* Future development plans
Popular choices include Metro Manila, CALABARZON, Cebu, and tourist-friendly provinces as well.

3. Make sure the property is titled
Only consider properties with a clean Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT). Stay away from properties with tax declarations only, as they are riskier.

4. Find someone you trust locally
As an OFW, you’ll need help on the ground. This could be a:
* Trusted family member

* Licensed real estate broker or agent

* Attorney-in-fact (through a notarized Special Power of Attorney or SPA)

Make sure whoever helps you is reliable and knows the process.

5. Watch out for scams
Sadly, some OFWs are targeted by fake sellers or shady developers. Always:
* Buy from reputable developers or through licensed brokers

* Double-check documents (titles, permits, etc.)

* Don’t send full payments upfront—use installment or financing when possible

6. Explore Pag-IBIG or Bank Financing
As an OFW, you may be eligible for:
* Pag-IBIG housing loans

* Bank financing (some offer OFW-specific packages)

This way, you don’t need to pay everything in one go and can build credit while owning property.

Final tip:
Real estate is a great investment, but make sure you’re buying the right property, in the right place, with the right documents and people involved.
Start small and smart. Then grow as you get more comfortable and knowledgeable.
Let me know if you want help comparing types of properties or choosing between pre-selling vs. ready-for-occupancy units!