What you should know when buying a memorial lot as an investment?
The traditional investor would usually invest in a real estate investment like a residential property. Or in other real estate property, he could focus on when he retires. After all, real estate investments provide passive income. But there’s an asset that can also help stabilize your finances aside from the ones you’re familiar with. Memorial lots. This article will walk you through what you need to know when buying a memorial lot as an investment.
Things to consider when buying a memorial lot as an investment
Death is a deeply emotional topic that most family members feel uncomfortable talking about. The thought of losing someone prevents people from confronting this harsh reality of life. That the idea of investing in a memorial lot sounds taboo.
- From an investor’s point of view, buying a memorial lot early allows the property to grow its price and appreciation value.
- A memorial lot is a good investment because it requires low capitalization, and yet it has a high appreciation rate.
- You’ll be guaranteed perpetual ownership once you have the amount of the memorial lot fully paid. It’s yours unless you choose to sell it for a higher price, or transfer ownership to someone else.
- Memorial lots can be set aside as an investment or kept for future personal use.
You can keep the memorial lot for yourself or your family. Or consider it as an investment by letting the value increase over time. Then trade it when you need additional funds.
- Memorial lots don’t require taxation like real property taxes. Or capital gains tax in case you decide to sell the lot.
- Investing in memorial lots is a wise financial decision.
It can help ease your family’s financial burden and secure a permanent resting place for your departed loved ones.
- Buying and selling memorial lots as a side hustle can be an alternative business venture. Invest in several lots and let your hard-earned money grow by just retaining them for a few years before putting them up for sale.
- Memorial lots are easy to sell. There’s a constant need for them. There’s always someone who wants to purchase memorial lots either for personal use or for investment purposes due to their high appreciation value.
- Unlike other real estate properties, the purchased memorial lot doesn’t have a land title. The developer can’t furnish you with a land title because what you paid for is only a portion of the total land area. What you will receive is a lot title or certificate of ownership – proof that you own the said lot, which bears your identification details, lot area, and lot location.
- A memorial lot is considered a tangible asset. Tangible investments are more stable in value than commonly traded currencies and securities. Hence, memorial lots are safe from depreciation even during an economic slump.
- Most memorial parks sell memorial lot packages that don’t include interment services. So you need to clarify that with your agent or park developer.
Basic types of memorial lots
- Lawn lot is the most traditional type of lot intended for underground interment. It has flat marble markers and can contain 2 fresh bodies. Prices of lawn lots differ depending on their location.
- Family estate or mausoleum can cater to both aboveground and underground interment. It can hold an unlimited number of interments. Its concrete structure enclosing is capable of holding not more than 16 above-ground interments.
- Garden lot comprises 3 or more adjacent lawn lots which can hold more than six fresh bodies with bone vaulting.
- Family patio measures 18 sqm and can accommodate multiple interments.
Spice up your investment portfolio
“Don’t leave your eggs in one basket all at the same time” similarly applies to investing. Especially for risk-tolerant investors who are looking at diversifying their investment portfolios. And to invest in memorial lots can be a welcome addition to that.
These columbarium vaults can accommodate 4 urns in a single storage closet. The vault is mainly designed to keep the remains of the dead. Each vault is capable of storing up to four cremated corpses.
Currently on sale:
Columbarium Vault and Ossuary
₱ 55,000 – 1,274,000
- A columbarium vault is a small and compact structure used to store urns that contain the cremains of a dead person.
- A columbarium is another type of memorial lot intended for the safekeeping of urns that contain the remains.
- An ossuary vault is a small compartment that keeps the bones of your deceased loved ones. Ossuaries come in different shapes and sizes.
A catacomb is a type of ossuary which is an underground chamber. Others come in small and decorative containers. An ossuary can hold the bones of one or more people.
- Burial vault.
Most memorial parks and public cemeteries usually require that the urn of cremated remains be buried inside a burial vault – to help maintain the space underground where the urn is buried. This is to ensure that the cemetery grounds stay even as the urn biodegrades.
- What does columbarium inurnment mean?
Inurnment is the procedure by which the cremated remains are placed into a cremation urn. Inurnment can also mean placing the urn in its final resting place, like burying the urn in a memorial lot, or a columbarium.
Various factors that affect the price of memorial lots.
- Location plays an important role when buying real estate properties like memorial lots.
Accessibility to all points of entrances and exits, sitting at the right place determines the price value of your lot. Not all memorial lots are priced equal. If the memorial park is situated in the town center, the higher its price.
- The amenities a memorial park offers to lot owners and visitors alike should also be taken into consideration. Golden Haven in Tagum City features the world-renowned LACMA lights, Griffith Park, and Rodeo Drive for everyone to remember their departed loved ones in the most beautiful way.
- Maintenance. You’ll have the idea of how developers maintain the cleanliness and orderliness of the memorial park as a whole upon pre-viewing the property. Not every memorial park offers perpetual maintenance at no cost to lot owners.