Buying a lot of sale in Clark, Pampanga, is one of the best ways to use your savings, as an Overseas Filipino Worker, to maximum effect. Real estate is a financially sound investment of choice, and choosing vacant land in this promising market to gain a foothold in the Philippines’ property market is a smart decision on many levels.
1. It Promises a High Rate of Return
Thanks to the “Build, Build, Build” program of the Duterte Administration, Clark holds the key to the country’s economic future. With so many planned and ongoing developments, the former location of the largest overseas military facility of the United States is poised to share the crown with Manila as the business capital of the Philippines. Residential property owners in Central Luzon benefit from Clark’s rapid growth. The land values in the area are fast rising, which is expected to remain in their trajectory in the coming years. The sooner you buy vacant land now, the more you can grow your wealth passively with it. If you buy a lot of cash, you can benefit more from land appreciation. But even if you take out a loan, vacant land is far less costly than a house and lot package. The mortgage term is usually short too, so you can pay off your loan faster and absorb less interest.
2. It Costs Less to Maintain
Vacant land needs routine weed removal, and that is it. You do not even have to it yourself. The developer takes care of this chore for a fee, which is typically charged only once a year. On the contrary, a house, occupied or not, needs a lot of care and attention. The cost of repairs may not seem significant, but maintenance expenses add up over time.
3. It Is Proof Against Calamities
Land is generally immune to the rigors of nature. Without any structure on it, it remains practically the same no matter how many storms pass by the area. Vacant land renders insurance almost unnecessary, giving you one less expense to worry about.
4. It Can’t Be Stolen
As an OFW, you do not want to invest in a property that can be burglarized. Even an empty house has certain fixtures, such as pipes and windows, that may catch the interest of thieves. If you buy a vacant lot, nobody can steal it no matter how many years or decades you leave it alone. If you buy from a reputable developer, you can rest assured that no one can construct anything on it without your permission.
5. It Opens a World of Design Possibilities
Land lets you build any property you want. Your imagination is the only limit to the design of the structure you wish to have provided that your construction plans remain consistent with zoning restrictions and building requirements. Vacant land is an excellent choice if you already own your family’s primary residence back home.
With so many lots on the market today, take advantage of the large supply to own a piece of Clark before prices soar much higher.