Why You Should Invest in Memorial Lots?
The inevitability of death is a sensitive topic some people feel uncomfortable talking about. But it’s a fact of life and there is no point in ignoring it. As much as you should acknowledge the need to prepare for that dreadful day. Getting your family involved in the planning of your end-of-life preferences like where to buy a memorial lot and how you want to be interred doesn’t only take the family’s financial burden off of their shoulders. You also prepare them for the unforeseen and help them understand why you should invest in memorial lots.
What is a memorial lot?
A memorial lot is a small space inside a cemetery where the remains of someone may be buried.
The sizes and prices of memorial lots vary depending on the type, the most common of which usually has just enough space to hold a body or two.
Is a memorial lot a good real estate investment?
Buying a memorial lot in advance (pre-need purchase) gives you options to either have it for future use or keep it as a high-yielding investment.
Whichever way, buying a memorial lot has a lot of advantages. It saves you and your family time, effort, and money searching for that perfect final resting place. Early purchase prevents future liabilities, just make sure you invest at a trusted and reputable memorial park developer.
Take into consideration the location, the availability of amenities, the kind of facilities and maintenance they offer before jumping into the bandwagon for a safety net. Because not all memorial park developers offer the kind and quality of services you need.
What makes memorial lots a good investment?
From an investor’s point of view, investing in memorial lots has a long list of benefits. A memorial lot investment doesn’t only lead to achieving financial security in the future. Because of its high appreciation rate of 20 to 30% every year, you can look forward to having your financial security in the future.
- Because it’s a tangible asset, a memorial lot title can be used as collateral when you need additional funds.
- You will be awarded perpetual ownership once you get the lot fully paid.
- Unlike other real estate investments, memorial lots stand out in prices because of their low capital requirement. But high appreciation value, with almost no maintenance cost on the part of the investor.
- Lot owners at Golden Haven have the privilege of having well-manicured lots and regular grass trimming at no maintenance cost at all.
- Selling memorial lots is also an investment option. Because of their high appreciation value, you can sell your lot/s after only a few years at a much higher price – which makes memorial lot investments a good business alternative.
Golden Haven has reported a 2000% value appreciation of its prime memorial lots since 1984.
From a humble price tag of only 5,000 pesos in 1984, memorial lots at Golden Haven Las Piñas are now priced at almost 400,000 pesos. That’s why a memorial lot in Golden Haven is considered a lucrative real estate investment.
Golden Haven memorial lots for sale
Lawn lot is a two-tiered lot and it’s the most common package in a memorial park. It contains two vaults and measures 2.44 square meters (1 meter wide by 2.44 meters long).
It’s intended for underground interment, with lush green bermuda grass and flat marble. It can hold a maximum of two bodies, and two sets of bones or cremation remains.
Current market selling price:
75,000 pesos per lot or 30,000 pesos per sqm.
Tagum, Davao del Norte
Regarded as the most beautiful memorial park in Southern Mindanao, Golden Haven features the California-inspired lacma lights in Tagum City, Davao del Norte.
Family Estate or Mausoleum
•Available in different lot sizes depending on your preference
•An area for both above-ground and underground interment.
•Its an open or closed memorial structure (mausoleum)
•Can accommodate multiple interments.
•Can be fenced if you so decide
•Open structures may contain up to eight aboveground interments
•Concrete structure enclosing may contain up to sixteen aboveground interments.
Current market selling price:
72,000 pesos to 11,038,436
Property Lot Size: 2.50 sqm
Golden Haven Memorial Park, Las Piñas City
This real estate property is a cluster of lots that can hold more than six bodies with bone vaulting on a 7.5 sqm area.
This property measures 18 sqm or the equivalent of seven lots. It can accommodate up to ten burials. It’s an intimate area where families can gather around to celebrate the life and memories of their departed loved ones.
*Note: Availability of products and prices per lot or sqm vary depending on the location. If a memorial lot sits in a prime location, the higher its price.
What to know when buying a memorial lot?
- Ask from licensed agents or memorial lot owners.
Look for a legitimate memorial lot agent. You can also ask other lot owners who intend to sell their lots due to reasons for relocating or pursuing other investment options.
When doing transactions with other lot owners who you don’t personally know, make sure to verify all pertinent papers and information before buying a memorial lot.
- Interment fees aren’t included in the purchase of the memorial lot.
Most interment services already include a marker or a gravestone. Remember that prices vary depending on memorial park developers and the services stipulated in the contract you signed with them.
- Be aware of other fees.
Most developers include extra interest in their monthly installment payments if you can’t pay the lot in cash. Interest rates can soar up to 20% depending on how many years you’re going to pay for it. Long-term installment plans cost higher than short-term plans. Clarify the rates and how long the payment term is before making the initial down payment.
- 12% VAT (Value Added Tax) applies to memorial lot investments.
Memorial lots are considered real estate property, as mandated by HLURB (Housing and Land Use Regulatory Board). And are therefore not exempted from the imposition of a 12% Value Added Tax (VAT).
- Additional charges in cases of urgent need.
Memorial parks usually charge additional fees if you are to purchase a lot in time of urgent need. Because they’re aware of the urgency and they take advantage of it. This is the difference between a pre-need lot and an at-need lot. Most memorial park developers don’t offer the discount they’d usually offer to a pre-need lot buyer, because there’s no immediate need for it.