Plan for your children’s future with a property investment.
There is no better example of a strong family unit than that found in the Philippines. Powerful family ties are clear and reinforced as many overseas Filipino workers send money home each month to support their families and to plan for their children’s future. Often used to help pay for everyday needs such as education and healthcare, many also work overseas look at options to invest for their family’s future.
Antiques, family heirlooms and maybe even a classic car can all be one legacy to pass onto your children. However these are all considered to be a luxury rather than necessity. Therefore there is good reason that property is seen as a solid investment for our children.
It is something that is tangible that can be passed to the younger generations. They can live in it. It generate them an income. And in the future they can enjoy its increased value. This is exactly why the saying goes, ‘as safe as houses’.
1. Start early.
It is never too late to start saving or investing, in fact it is never too early. The earlier you start the better. Simply as the more affordable it will be to avoid getting caught up in rising costs and inflation. The property market does go in cycles so you could encounter some dips along the road. However property values do increase over time, and as the purchase is for your children, this length of time could be as much as 20 or 30 years.
2. Invest regardless of saving size.
As we have mentioned, it is wise to start investing early. Therefore should you not be in a position to afford to buy a property, why not invest in a plot of land instead. That way you can start accruing the capital appreciation it makes and as you savings start to grow, you can start building on it. Alternatively, if you want to buy a condominium, then start small with an ideal starter home that does not need much in way of maintenance. This will mean you will spend minimal money on it enabling you to save any disposable income on your next move up the ladder. Read more on how to secure the right condominium here.
3. Buy-to-let.
If you are in a fortunate position to already own a home but want to expand on your portfolio, then invest in a buy-to-let property. This will help generate an income for your children’s future and also immediately. Spend time making sure you pick the right property to generate a healthy rental yield with our online guide.
