Your Guide to Buying Memorial Lots
A memorial lot requires a hefty outlay in time, money, and energy, like any tangible property. When people hear the said asset, most associate death with it. They believe you should not think of preparing to buy one, for you will spoil your end. But practically speaking, you have to start talking about this. May it be for your own sake if the worst-case scenario comes or for diversifying your investment portfolio.
Sure, you would want to chase after the the lowest price possible when buying memorial lots. However, there are different factors that you must recognize at this point. Each of them is an attribute of the property that must align with your preferences. They significantly affect the selling prices of the said lots. Specifically, here are five considerations that you’ll need to know about when you purchase a memorial lot.
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1. Predetermined budget range
As you look for a memorial lot for sale, you must first identify your budget for this big purchase. Some memorial parks and developers offer lots at affordable prices throughout the Philippines. However, you have to ensure that you are fully aware of how much your budget is.
You can consider conducting price comparisons from different memorial parks. In your projections, consider other expenses to be incurred such as legal and maintenance fees. Then if you find a comfortable cost range, you can proceed with assessing other relevant factors for this deal.
2. Location of the memorial lot
The next aspect to consider when buying a memorial lot is its location. If you want to buy this property for you, then consider where you want your remains to be permanently kept. Sometimes, the opinion of your family members can be vital in decision-making.
If you are acquiring a memorial lot as an investment, then it’s a much easier decision. If this is the case, you don’t have to worry about where you want to buy a property. But in exchange, you must research how a place’s strategic positioning affects the value of assets such as land.
A memorial lot located within the city will likely have a higher value than rural communities. This is because other facilities can provide the park’s visitors with everything that they need within the city.
3. Memorial lot inventory
Also, when looking for a memorial lot to buy, you must be aware that they come in different types. Golden Haven, for example, offers lawn lots that can support up to two remains. They also offer mausoleums that can house a higher number of remains of the deceased. Naturally, the former has a lower price than the latter due to the amount of space they offer.
Again, your final choice for this item may vary depending on the purpose of buying the said property. If a personal intent drives your purchase, then the decision depends on what you and your family will discuss.
But if you are doing this for business purposes, you must figure out your target market. If you want to accommodate the general public, you can buy lawn lots that most people can afford. Family estate properties is the way to go if your target are groups with a better socio-economic status.
4. Memorial lot title
The next thing to do is check the lot title the developer will hand you. A memorial lot, upon purchase, is only accompanied by a lot title. Unlike a memorial lot, other real estate properties have a land title issued. This is because the memorial park where your lot is situated is incumbent in maintaining the condition of the land.
Like any other contract, you must carefully examine a memorial lot title. You have to ensure that the clauses and terms presented are accurate, correct, and favorable to both parties. Not doing so is an invitation to imminent danger.
5. Maintenance services
Lastly, you must consider the availability of maintenance services that the memorial park or developers will offer to you. You cannot expect to be available at all times to check the condition of the memorial lot that you bought. Hence, letting someone else do the work is a convenient way on your end as a buyer.
Indeed, buying a memorial lot is more than just a simple exchange between a buyer and a seller. You have to take time to process every aspect that affects the value of your asset. The last step in achieving your goal is to gather enough courage and do everything according to what you planned.
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