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  • Mendez, Cavite: Discovering the Real Estate Potentials of an Unfamiliar Town

    “For many travelers, being thrust into an unfamiliar place returns them to a purer state of being.”

    – Melissa Biggs Bradley, Founder and CEO of Indagare

    By Realttorney®

    Mendez is part of the third Growth Area, under the Cavite Provincial Development and Physical Framework Plan 2021 – 2030, known as Metro Tagaytay or the Tourism Haven and Food Basket of the Province. This third Growth Area is composed of Indang, Amadeo, Alfonso, Maragondon, three other municipalities, and one city, which will be featured in subsequent articles in the following weeks.

    This is the fifth part of the series where we explore each LGU belonging to the Metro Tagaytay area. We share our experiences as we travel and visit the Metro Tagaytay area in the past to inform you of the interesting facts, business opportunities, and the state of the real estate in each LGU.

    According to Wikipedia, Mendez is a 4th class municipality located in the southern part of the province of Cavite, Philippines. It is the smallest town in the Metro Tagaytay area in terms of land area – which is approximately 22 square kilometers. It is bounded to the north and east by Indang, to the South by Tagaytay City, and to the West by Alfonso.

    While it may be the smallest town in upland Cavite, and less renowned as other tourist destinations like its neighbors to its South, Mendez has plenty to offer to its almost 35,000 residents and interested real estate investors seeking bargain deals. Here are some fascinating facts about Mendez, Cavite.

    Official Name and History: Mendez is officially known as the Municipality of Mendez-Nuñez. It was originally known as “Gahitan“, one of the many barrios of Indang during the Spanish era. The name was derived from the word “gahit” meaning “to cut“, because the people then had to cut down tall and thick cogon grass that abounded in the place to clear areas for agricultural and residential purposes.

    The history of Mendez, according to Wikipedia, says that when the houses in Gahitan increased in number the sitio graduated to become a barrio and finally a full-fledged town on 1 December 1875, thanks to Governor-General Jose Malcampo y Monje (1874-1877). Governor Malcampo incorporated the three barrios of Gahitan, Palocpoc, and Anuling into one independent municipality called Mendez-Nuñez, after a Spanish naval officer and close friend, Commodore Casto Mendez Nuñez.

    Pedro Aure was the gobernadorcillo of Mendez during its first year as a municipality in 1876. Cayetano Aure, perhaps a relative of Pedro, was the first and only capitan municipal of Mendez during the First Philippine Republic (1899-1901).

    Mendez continued to be a municipality from 1875 to October 15, 1903, when, under Act No. 947 of the Philippine Commission reduced the 23 municipalities of Cavite to eleven. Mendez and Bailen (now General Emilio Aguinaldo) were incorporated into the municipality of Alfonso.

    But twelve (12) years later, on January 1, 1915, Mendez regained its independent status as a municipality of the Province of Cavite.

    Geographic Appeal and Accessibility: Mendez is accessible via the Trece-Indang-Mendez-Tagaytay Road (actually a highway) if one is coming from the Capitol Compound in Trece Martires City. Another route is from the Aguinaldo Highway Exit of the Cavite-Laguna Expressway (CALAX) in Silang, one can use Aguinaldo Highway to Tagaytay City, and turn right at the Tagaytay-Alfonso Bypass Road.

    When you reach the Indang-Mendez-Tagaytay Road intersection, turn right, and in less than 2 minutes you’ll be crossing the border of Mendez and Tagaytay City. When the bridge that connects Brgy. Patutong Malaki North and Brgy. Guinhawa North is fully constructed, one can use this to reach Brgys. Palocpoc, Anuling, and Panungyan via the Tagaytay-Alfonso Bypass Road, as well.

    Several major road projects are planned by the Department of Public Works and Highways (DPWH) that will improve the mobility of residents and transients in the Metro Tagaytay area of Cavite. If all goes as planned, one of the interchanges of the Cavite-Tagaytay-Batangas Expressway (CTBEX) will be situated in the Municipality of Mendez-Nuñez, in between the interchanges in Amadeo, Cavite and Tagaytay City.

    The increase in mobility and accessibility of real properties often brings an increase in the value of said real properties. So, expect a steady appreciation of land values in the entire Municipality of Mendez.

    Meanwhile, the geographic location of Mendez is an advantage that it shares with the neighboring municipalities bounded by Tagaytay City. The cool climate of Mendez – described as tropical highland – is unmatched compared to other parts of Indang, Amadeo, and Silang with lower elevation. As such, events places, and resort-type developments have opened their doors to weary urban dwellers from the National Capital Region.

    Economic Growth and Potential: Mendez is now home to the newly opened Mendez Specialist Medical Center along the Indang-Mendez-Tagaytay Road. Moreover, about 300 meters away from the hospital, a branch of McDonald’s opened its doors to hungry constituents of the Municipalities of Alfonso, Indang, and Mendez.

    This shows the increased level of economic activity and great potential for growth by this 4th class Municipality. Imagine the types of business that will be established once the alignment of the Mendez Interchange of CTBEX has been confirmed. Commercial real estate ventures will increase. And, it may bring PEZA-registered ecozones near the exits of the interchange which can cater to the pool of qualified employees who are graduates of the Cavite State University Main Campus located in Indang, Cavite – less than 9 kilometers away from Mendez.

    Potential as a High-Value Crops Center: Mendez was known for its agricultural products, particularly coffee, coconut, pineapple, and chayote. In the 1970s, the Municipalities of Amadeo, Indang, Mendez, and Alfonso had thousands of coffee trees that were harvested and brought a lot of wealth to its farmers. But those days have long been gone.

    Still, the fertile soil and favorable climate make Mendez an ideal location for farming, which contributes to the local economy and provides employment opportunities for residents. The cool climate of Mendez is conducive to the planting and growing of strawberries and other highland vegetables or high-value commercial crops.

    Under the provisions of the High-Value Crops Development Act of 1995 [Rep. Act No. 7900], “High-value crops (HVC)” are crops other than traditional crops which include, but are not limited to: coffee and cacao, fruit crops (citrus, cashew, guyabano, papaya, mango, pineapple, strawberry, jackfruit, rambutan, durian, mangosteen, guava, lanzones, and watermelon), root crops (potato and ubi), vegetable crops (asparagus, broccoli, cabbage, celery, carrots, cauliflower, radish, tomato, bell pepper, and patola), legumes, pole sitao (snap beans and garden pea), spices and condiments (black pepper, garlic, ginger, and onion), and cutflower and ornamental foliage plants (chrysanthemum, gladiolus, anthuriums, orchids, and statice).

    There are numerous idle lands in the Municipality of Mendez, as well as nearby municipalities. When branded differently, this sleepy town can be a powerhouse High-Value Crops Center due to its favorable climate and abundance of water resources.

    Despite the abundance of water, this important resource must be protected and conserved since the various waterways traversing the Municipality of Mendez-Nuñez are part of the Labac-Alemang River Watershed (LARW). It is important to know that watersheds are categorized under protected areas declared under the National Integrated Protected Areas System (NIPAS) Act of 1992 [Rep. Act No. 7586].

    Healthy and protected watersheds provide critical services to humans, such as clean drinking water, productive fisheries, and outdoor recreation, that support local economies, and enhance the environment and the quality of life of the inhabitants. Hence, real estate investors must plan their investments in Mendez and most of the highlands of Cavite with this important concept or principle in mind.

    Ideal Real Estate Projects and Investments in Mendez

    Given its unique location and importance in protecting the Labac-Alemang River Watershed, Mendez should encourage these types of real estate development and investment:

    Agricultural Estates: Despite its small land size, the Municipality of Mendez can establish model farms of high-value crops that can be replicated in the nearby towns of Indang and Amadeo. These farms can cross borders to achieve economies of scale in the production of the chosen HVCs.

    However, an important feature of these estates should be the creation of numerous small water-impounding sites or areas to catch surface water during the rainy season and accumulate water that can possibly refill underground aquifers to strengthen the capacity of the watershed.

    Finally, these estates must likewise implement processes that would prevent the contamination of the water resources by pesticides and other agricultural inputs. Or better yet, they should go organic if possible.

    Farm Tourism Sites: With the benefits of the Farm Tourism Development Act of 2016 [Rep. Act No. 10816], investors can establish farm tourism camps in Mendez that allow visitors and tourists to visit, get involved in farm activities, and enjoy and learn rural lifestyle. This is in line with making Mendez the High-Value Crops Center of Metro Tagaytay, as well.

    BPO Business Centers: With the opening of the Mendez Interchange of the CTBEX, the creation of the BPO-Technology Hub near the exits is an exciting opportunity. Why? Low cost of labor, low cost of living for the employees, and the dispersal of business and economic activity in the rural areas are positive factors for investors to consider.

    Finally, PEZA-registered Agro-Industrial Zones can also be established near the Mendez Interchange. The small land area of Mendez will not hamper this since the lands in Indang can be utilized for expansion for such a venture since the latter is the Agro-Industrial Hub of the Metro Tagaytay Area.

    In conclusion, Mendez-Nuñez, Cavite offers solid opportunities for real estate investments that will protect the environment and maintain the health of the watershed while at the same time introducing high-income industries that take advantage of the human resources of nearby municipalities. By leveraging these unique attributes, investors can establish business ventures that not only generate substantial returns but also contribute to the sustainable development and prosperity of this unfamiliar town in the Province of Cavite.

    If this article resonates with you, let us start a conversation that may lead to providing employment opportunities to this part of the Metro Tagaytay area.

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    Atty. Jojo is a real estate attorney, an estate planning attorney, a licensed real estate broker, and a PRC-accredited Lecturer/ Speaker for Training Programs in Real Estate. He is committed to helping new and veteran real estate service practitioners be well-informed of the latest laws, rules, regulations, and information relevant to the real estate service sector.

  • Future-Proofing: Why Life Insurance is Crucial for Estate Planning, Even in Your 20s and 30s

    Insurance, in all its varied forms, is simply a method for handling risk. In order to plan an effective insurance program, consider the risks that you and your family are exposed to and how financial loss could affect you.

    – Acord & Fong Wealth Strategies, https://acordandfong.com/insurance.html

    By Realttorney®

    One of the primary reasons why life insurance is crucial for young people as an estate planning tool is to provide financial protection for dependents. Many young individuals have dependents, such as spouses, children, or elderly parents, who rely on their income for financial support.

    If a young individual unexpectedly passes away, it can have severe financial consequences for their dependents. The death benefit from a life insurance policy can provide much-needed financial support to cover living expenses, pay off debts, and ensure that the dependents can maintain their standard of living even in the absence of the insured individual’s income.

    For young parents, life insurance is particularly vital as it can safeguard their children’s financial future. Parents often have significant financial responsibilities, including mortgage payments for their house and vehicle, childcare expenses, and education costs.

    In the event of the untimely death of a parent, the death benefit from a life insurance policy can help cover these expenses and ensure that the children’s financial needs are met. It can provide a safety net for the surviving parent or guardian to continue supporting the children without experiencing financial difficulties moving forward.

    Life insurance can also serve as a valuable estate planning tool for young individuals who have financial responsibilities toward aging parents or other family members. Many young people find themselves in a position where they are financially supporting elderly parents, siblings, or other family members.

    In the event of their death, the financial support may come to an abrupt halt, leaving the dependent family members in a problematic situation. Life insurance can provide the necessary funds to ensure that the financial needs of these family members are met even after the insured individual’s death.

    In addition to protecting dependents, life insurance can also be used as a tool for wealth preservation and transfer. Young individuals who have accumulated assets, such as a business, real estate, or investments, may have concerns about the potential tax implications and liquidity issues upon their death.

    Life insurance can help address these concerns by providing the necessary liquidity to cover estate taxes, debts, and other expenses without having to sell the assets at a potentially unfavorable time. This can help preserve the value of the assets and ensure that they are transferred to the intended beneficiaries in a smooth and efficient manner.

    Furthermore, life insurance can also be used as a means of equalizing inheritances among beneficiaries. In cases where an individual wants to leave different amounts of assets to different beneficiaries, life insurance can be used to provide additional funds to beneficiaries who are receiving smaller inheritances. This can help ensure that each beneficiary receives a fair and equitable share of the estate, even if the assets are not equally distributed among them.

    Still unconvinced? Here are a few more points to entice young people to consider life insurance and estate planning early:

    Lock in Lower Premiums: One significant advantage of obtaining life insurance at a young age is that premiums are generally lower when you are young and healthy. By locking in a life insurance policy early, young individuals can secure lower premiums for the duration of the policy, potentially saving thousands of pesos over the life of the policy. Waiting until later in life to get life insurance may result in higher premiums due to increased risks associated with age and health conditions.

    Financial Protection Against Debts: Young people often carry various debts, such as consumer loans, credit card debts, or mortgages on vehicles and real estate. In the event of the insured individual’s death, these debts could be passed on to their loved ones, creating financial burdens. Having a life insurance policy can provide a financial safety net to cover these debts, preventing them from becoming a financial burden on surviving family members.

    Supplement Employer-Provided Coverage: Many employers (like BPO Companies) offer group life insurance coverage as part of their benefits package. However, these policies may not provide sufficient coverage to meet an individual’s specific needs. Additionally, group coverage typically ends when an individual leaves their job. By obtaining an individual life insurance policy early, young individuals can supplement their employer-provided coverage and ensure that they have adequate protection regardless of their employment status.

    Long-Term Savings and Investment Tool: Some types of life insurance, such as variable life insurance, not only provide a death benefit but also accumulate cash value over time. This cash value can serve as a long-term savings and investment tool that can be accessed during the insured individual’s lifetime. Young individuals – freelancers, solopreneurs, and digital nomads – can leverage this feature to build a source of tax-deferred savings that can be used for various purposes, such as supplementing retirement income or funding future financial goals.

    Protecting Insurability: Life insurance is typically easier to obtain when an individual is young and in good health. However, life circumstances can change, and health issues may arise, making it more difficult to obtain coverage in the future. By obtaining life insurance early, young individuals can lock in coverage and protect their insurability, ensuring that they have financial protection in place regardless of their health status later in life.

    Peace of Mind for Loved Ones: Planning for the unexpected is an act of love for one’s family and dependents. Knowing that loved ones will be financially protected in the event of the insured individual’s untimely death can provide peace of mind. Life insurance can offer a sense of security and comfort, knowing that loved ones will be taken care of financially, even if the insured individual is no longer around.

    In conclusion, life insurance is a crucial estate planning tool for young people that offers financial protection, wealth preservation, and peace of mind. It can provide a safety net for loved ones, protect against debts, and offer long-term savings and investment opportunities.

    Obtaining life insurance early can also result in lower premiums, protect insurability, and supplement employer-provided coverage. It is never too early to start planning for the future and protecting the financial well-being of oneself and loved ones.

    Taking proactive steps now to include life insurance as part of one’s estate planning can help young people build a solid financial foundation for their future and ensure that their loved ones are protected. We encourage consultation with a qualified financial advisor or insurance professional who can help young individuals understand their specific needs and explore the best life insurance options to suit their circumstances.

    Email us [attyjojo@realttorney.com] to get a free 30-minute consultation about your insurance and estate planning needs.

    Image source: http://www.epdv.com/

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    Atty. Jojo is a real estate attorney, an estate planning attorney, a licensed real estate broker, and a PRC-accredited Lecturer/ Speaker for Training Programs in Real Estate. He is a Chartered Trust and Estate Planning (CTEP®) professional who is committed to educating Filipinos about the value and importance of having an estate plan in their lives.