Preparing for the Unforeseen: Investing on Memorial Lots
Buying a Memorial Lot: Base Price Range and Other Expenses
Buying a memorial lot in the Philippines is quite similar to buying any other type of real estate, although due to the nature of what memorial lots are for and where they are located, there are some notable differences.
For one, memorial lots have no land title; they only have lot titles that signify where the lot is located and its measurements. This is also kept on record by the developer or property manager in the case of memorial parks, and by the local government in the case of public cemeteries.
Since the size and location of memorial lots vary according to HLURB rules and regulations, prices for these also vary. According to the published rates for 2018 of one of the known private developers, buying a memorial lot in the Philippines, the base price for lawn lots amount to PhP200,000.00 while garden and estate lots can already cost you millions – PhP2,000,000.00 and PhP18,000,000.00, respectively.
The contract price list for the columbarium comes a bit more economical with the lowest amounting to PhP157,000.00, and depending on the floor and area, can increase to PhP238,220.00. Come to think of it, these sums are already consistent with that of current living spaces, so preparations are also really called for.
But with great purchase comes great other expenses. The amount mentioned prior is just the base price and one must be well-versed that in this world, in reference to a famous saying, death and taxes are two of the things one cannot escape from.
Apart from the associated taxes, there are the facilitation, administration, and transfer fees that vary depending on the park owners or developers. These fees not only cover the processing of the purchase of the memorial lot but also often include the contributions used for the upkeep of the memorial park as a whole.
Additionally, some sellers would include interest unto memorial lots offered via installment plans. This varies depending on the length of the installment terms, although this interest can be up to 20 percent.
Exploring Investment Expansions with an Acquired Memorial Lot
Just because you have purchased the lot for your own use doesn’t mean the plans will be as static as the original. Those who own a larger memorial lot can opt to build a columbarium. The HLURB defines this as “any structure, either freestanding or part of another building, containing niches for the inurnment of cremated human remains.”
Additionally, the HLURB states that a columbarium may include an “ossuary,” which refers to the interment space for the bones of the dead. Such a structure makes a memorial lot a viable investment as it can eventually be utilized by an entire family or clan, or for investors who are not bothered by the idea of making a business out of death. This could become a type of space to offer in the expanding memorial lot market.
Another option is to create a small mausoleum so that the memorial lot can house a few members of the family who have passed. The memorial park or cemetery usually lets you know to what extent you can develop the memorial lot you are buying. But in the event that one is embarking on the development of a memorial park or columbarium for business, one can always refer to the provisions set by the HLURB in the said rules and regulations for memorial parks or cemeteries.
Private Memorial Parks in the Philippines
The developers behind these memorial parks have been in the industry for some time now and have taken in the latest trends and innovations to offer a line of services, may it be for pre-need or at-need memorial needs. Resting in peace means not just for the deceased.
A Replica of Christ the Redeemer in Golden Haven Cagayan de Oro
Owned by Manny Villar’s Vista Land group, Golden Haven started with just 2 hectares in Las Piñas in 1984. The company has established park locations in over 30 locations nationwide and could be considered as the largest chain and the most beautiful memorial park in the country. Aside from parks, Golden Haven also boasts its complete death care services with their columbarium under the San Ezekiel Moreno Church, a memorial chapel that caters the memorial needs of the community, and state-of-the-art crematorium, all of this are located in Las Pinas City.
Manila Memorial Park
Manila Memorial Park, as firmly claimed in their website, is a pioneer in the memorial park industry in the Philippines and is said to be the largest in terms of number of parks and development – the combined land area of all its parks totals 427 hectares (242 fully developed while 185 undergoing full-scale development), continuing to believe that “memorial parks operate on the concept of beauty plus utility.” They boast of their tranquil parks with well-manicured lawns and well-paved roads, and “covered by the country’s biggest park care fund.” The company has memorial parks in Parañaque, Novaliches, Dasmariñas, Bulacan, Cebu, and Davao.
The Heritage Park
The Heritage Park, as noted on their website, sits on what used to be part of Fort Bonifacio military base in Taguig City. This 76-hectare property, currently the largest in Metro Manila, began its operations in 2001 and now prides itself on being the country’s premier memorial service provider. This memorial park offers facilities and services ranging from memorial lots to cremation and interment services. At the moment, the Heritage Park website is the most accessible and has the most helpful information that can guide anyone who would want to plan ahead.
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