Aside from sending their children to school, owning a house in the Philippines is one of the main reasons Filipinos choose to work overseas. However, many of our OFWs have faced bad experiences trying to buy property in the Philippines because of unscrupulous land developers who try to cheat them.

To prevent this from happening, a team of real estate experts from Ayala Land will be flying to Saudi Arabia this week to provide assistance to OFWs who are looking to buy their own homes in the Philippines. The Ayala Land team, made up of Edgar Malibay, Bob Bayona, Ryan Data, Alex Encarnacion, and Leejay Gonzalez, will be at Riyadh from August 9 to August 18, and in Jeddah from August 18 to September 14.

This Friday, August 7, the team will be speaking to the Filipino community at the Mohamed Dossary Hospital auditorium. On August 14, Rex Ma. Mendoza, Ayala Land’s Senior Vice President for Corporate Sales and Marketing will be speaking at the Dajen Restaurant along Khurais Road near exit 26. Topics include wealth management so OFWs can protect their hard-earned money and make it grow through investing in real estate. The same talk will also be held on August 21 at the Ramada Hotel in Jeddah.

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With the rising prices of gas, it makes more sense for people to cut down on their fuel consumption – and part of the strategy to save on gas is deciding where to live. In an age where a liter of gas costs more than 60 pesos, it makes more sense to live in Metro Manila, possibly in a location that’s close to the business districts of Makati and Ortigas. Most homebuyers today don’t want to trouble themselves with an hour’s worth of commuting time and cite cutting down on fuel cost as their main reason for looking for a place in the city. Even couples who are retired would rather move out of bigger houses and into a condo in the city. Since their children are all grown up and have families of their own, they no longer need a large house that takes time and money to maintain.

Makati-based workers might want to consider getting a unit at One Pacific Place in Salcedo Village. Not only are you near work and hip commercial centers like the Ayala Malls; the condominium also has excellent amenities that include a gym, day care center, and a lounge with free WiFi access. Those who work in Ortigas and Quezon City will be pleased to know that Ortigas & Co is building a large residential complex across Tiendesitas.

So long as high fuel prices continue to persist, developers will have their hands full trying to provide homes for everyone who wants to live closer to work or who simply want to spend their days in a peaceful and safe residential area.

Buying or selling a home is among one of the stressful events one has to go through because you have a lot at stake, financially speaking, during the real estate transaction. A good or bad transaction may affect your net worth and your well-being. There are several factors involved in real estate transactions, some of which are beyond your control no matter how well you study the market. For instance, interest rates could increase unexpectedly, or your home inspector might discover a structural defect you were unaware of. However, there are a few precautions you can take so your real estate transaction will go well.

First, you need the right real estate agent who will help you accomplish your goal and find what you’re looking for. If you don’t already have an agent or a mortgage broker, ask your friends or coworkers for recommendations and interview each referral carefully.

One of the common mistakes first time home buyers make is that they underestimate the time it takes for the transaction to finish. Don’t pile on additional work on yourself during the middle of a home sale or purchase so you can manage the stress easier.

Stay involved in every single process of the transaction, up until the closing. Even though you’ve got a professional who’ll help you out, the most they can do is give you advice. In the end, you’re the one who’s making the decision. You’ll definitely encounter problems if you let your agent or broker make the decisions for you because only you know what you want. Be nice but firm towards your agent and let him or her know what kind of services you expect.

Finally, make sure you read and understand every document before signing anything and ask for copies of everything you sign. You need to keep your own copy of the documents even after the closing so in case a problem comes up, you’ll have something to back up your case.