Property investment opportunities to empower women household heads
As Women's Empowerment Month unfolds, it's time to spotlight a powerful demographic: women who lead their households. This March, we delve into real estate investment opportunities tailored to single moms, widows, and elder parent caregivers—individuals who embody resilience, strength, and determination.
Gone are the days when the term "family" strictly referred to a nuclear unit comprising a mother, father, and children. In the dynamic landscape of 2024, the traditional definition of family has evolved, reflecting the diverse fabric of modern society that is influenced by socioeconomic factors, personal choices, and life circumstances.
For many women household heads, real estate investment presents an avenue for financial empowerment and stability. Whether it's securing a home for their family or building a portfolio for future generations, real estate offers tangible opportunities for growth and security.
Single motherhood is an undertaking marked by strength, resilience, and unwavering dedication. A family dwelling is typically purchased and coowned by both husband and wife. However, when circumstances such as separation or death occur, the wife often becomes the default caregiver for the children, assuming responsibilities intended for two people. For these women, providing shelter for their families becomes paramount.
Purchasing a home as a solo parent can be daunting due to its significant financial burden. While renting an affordable home within a central business district may seem convenient, it can come out more expensive in the long run. Therefore, a beneficial investment option would be rent-to-own condominiums and townhouses offered by reputable developers which can be easily purchased using a housing loan. If the purchaser earns enough to meet the bank's required minimum gross household salary, buying a home via mortgage can be a viable option, as these developers often have tie-ups with banks. In fact, some real estate developers and banks are owned by one holding company.
Additionally, such property investments can be leased out to generate passive income to cover basic needs like groceries and utilities. Eventually, they can be resold in the future, having achieved capital appreciation over time.
SUPPORTING WIDOWS THROUGH PROPERTY REINVESTMENT
Losing a spouse can be a heartbreaking experience, but widows are proving that resilience knows no bounds. When the husband dies, by default, his entire estate is inherited by his wife and children. However, those unfamiliar with estate settlement often overlook or neglect paying their dues and taxes, leaving inherited properties to become white elephants or even financial burdens, as the penalties often overshadow the value of the inherited asset.
Widows who have been bestowed with the gift of real estate can honor their husband’s legacies by converting them into profitable investments for the family. This can take various forms, such as renovating a property for resale, repurposing it for business and commercial use, leasing it out, or subdividing parcels of land or spacious homes among the heirs for their personal use. Developers are also known to buy large ancestral properties to convert them into townhouses or subdivisions, so a joint venture can also prove to be a lucrative passive income deal for heirs.
For women who wish to secure their children and the interests of their successors, a comprehensive estate and succession plan must be put in place to mitigate potential challenges that may arise in the future.
ELDER PARENT CAREGIVERS: BUILDING A SECURE FUTURE
As the population ages, an increasing number of single women find themselves assuming the role of elder parent caregivers, adeptly managing responsibilities with grace and compassion. Real estate investment emerges as a lifeline for these caregivers, providing a valuable asset to support their families while prioritizing the well-being of their loved ones.
The primary objective of an elder parent caregiver often revolves around establishing a conducive home environment for their senior parents, enabling them to navigate the complexities of aging with confidence. One critical consideration in this endeavor is eliminating potential hazards, such as busy streets and staircases.
This could involve opting for a bungalow or a home with a ground-floor bedroom, eliminating the need for elders to navigate painstakingly. In Metro Manila, bungalows are becoming a rarity due to rising land values. So another viable option is resort-themed communities where elders can access all amenities via elevator, and security is available 24/7.
A more fulfilling approach involves building retirement homes situated in nature-filled communities, where clean air, ample sunlight, and scenic walks along the beach shore contribute to the golden agers’ overall well-being.
Purchasing retirement homes in farm settings or beachfront locations can provide a rejuvenating change of scenery for aging parents, enhancing their quality of life and fostering a sense of serenity and tranquility.
In the world of real estate investment, the possibilities are as vast and diverse as the women who embrace them. During this Women's Empowerment Month, let's honor our beloved female household leaders—and empower them with solutions for financial freedom and continued legacy.
* * * Bianca Monica L. Lañas REB, ME, or simply "Nix" to many, is a norm-breaking real estate broker devoted to empowering modern families – from traditional nuclear families to households headed by single parents, LGBTQIA+ parents, elder parent caregivers, and even pet parents. Her mission is to make property investing more than just a transaction but a life-defining experience. Follow the Down to Earth Broker / #DownToEarthBroker for residential and business real estate advice that truly speaks to your personality and values.