6 Factors to Consider when Buying Memorial Lot
Filipinos, especially the old generation, don’t want this kind of conversation since they believe that buying a memorial lot and plan is preparing for death. But, it really is. It is part of planning since death comes in the most unexpected time and it is inevitable. Also, they always mention that if they die, they just want to be cremated and have their ashes thrown into the sea, but is this what your family members would like to do? Dying is not only about the one who passed. It is also about the people who are left to shoulder the pain of losing.
Just like in buying a memorial lot from reliable memorial parks, it keeps Filipino family tradition of visiting their loved ones especially during holidays, birthdays, or any family event.
So, if you’re already planning to avail one, why not this article read first and we’ll list the most important factors to consider before buying a memorial lot either for investment and pre-need use or even for immediate use.
1. PRICE and BUDGET
Of course, you must always take into consideration the price and it must fit your budget.
Memorial lots can be costly especially for immediate use. But if purchased for pre-need and investment, you can avail discount if paid in full. The location of the memorial park also plays a role in the lot’s value. Memorial parks within Metro Manila cost more than those in the provinces.
Price also varies depending on the lot location. For example, the lots located beside the road or tree are sold higher compared to the lots in the middle.
They can be expensive, yes, but developers offer installment terms and split down payment. Additionally, memorial park companies offer promos in various seasons. You need to better check if there are existing promos from your target memorial park.
2. Type of Lot Inventory
You need to learn that there are various inventories of memorial lot. Each lot has a different lot size, capacity, price and even regulations to follow.
Lawn lot is double internment, which means that the capacity is 2 body remains. It is an underground burial with kept grass and a flat marble marker.
Garden lots are known by its raised niche and has larger capacity from 5 up to 10 body remains.
The largest is called mausoleums or family estate. This is a house-like structure for large family groups that prefer privacy during visitation.
Columbarium is a type of memorial lot which is intended for urns of cremated remains.
Detailed descriptions of each inventory can be read here: https://www.thememorialpark.com/post/decided-what-type-of-lot-will-you-be-buying
3. Memorial Lot has “Lot Titles”
If you purchased a lot from a developer, they cannot provide a land title because the ‘mother title’ is under their responsibilities. Besides, you are only buying a portion of the total land. You will be given a “lot title or certificate of ownership” instead. This is the official document that proves you are the owner of the said lot area. Written on it are your name and identification details, the lot area, and its lot location.
4. Check the company
Of course, you wouldn’t want your hard-earned money to go down the drain by trusting an unstable company. So, check the company’s stability. Consider how many years the company has been in the business and its reach of branches.
One, for example, is Manila Memorial Park. The pioneer memorial park in the Philippines which opened in 1964 and has parks in Sucat, Novaliches, Cavite, Cebu, Davao, Bulacan, and Laguna.
Location is a crucial factor in buying a memorial lot. Other prefer lots near the area of their residence. But others, opt to be buried in their hometown or provinces.
You must always look for something accessible, easily located, and near the main road.
In purchasing, you must schedule an ocular viewing to see if the park is well-maintained. You wouldn’t want to buy from a memorial park with questionable security, and chaotic and dirty place.
You must also understand that most memorial parks have a perpetual care fund, which sustains the maintenance of the memorial lots for a long period of time. But, rest assured, that this is a one-time payment only which is already included in the total contract price.