Being an expat coming to the Philippines since 1983 and living here for years. I don’t like most condos, I can’t own land, I may move so nothing permanent. Rent is the way I have chosen. I live in a well maintained, grass, trees, pool, just the right size, central water heater, great air conditioning, security.
When we married 19 years ago my wife bought a 1k sq. meter lot and built a small house. 4 years later when I retired (at 55) sold everything and joined her with 4 million peso to spend. Fenced and gated the lot and built a 140 sq. meter house 3 bedroom, 3 bath. With an income of 110k peso a month and the biggest expense being food for a household of 5 life could not be much better.
If you lease from someone, Once the person you signed the lease with has your money, you are worth more dead than alive. If they can find a way to have you killed, they could release or resell the property again. You will always have a target on your back.
@tommoskal9365 Really don't like living in a 2 story home as am older and starting to have knee problems. Some of their ranch/bungalow type homes are interesting but they are really small, usually.
I've covered most of these points over the past several months, and my last video in the series is tomorrow. Renting can be frustrating, if the owner doesn't want to fix anything. But buying can have some serious consequences if you don't do your due diligence and get your own attorney BEFORE signing anything! My next video will show a potential 'gotcha', if we hadn't been paying attention! Good video, Mike 👍
I grew up in Construction, career as a computer programmer. when I decided to move to PH, I chose to build. Buy land, and build. As luck would have it, my future wife's brother is a civil Engineer. Very helpful. All done in 2007.
I'm renting an apartment in Iloilo for P8,000/month, unfurnished. There are more options for food and the roads are better. Medical is excellent here. I'm hoping the foreigners stay in Dumaguete so that my rent stays low.
It took us 2 yrs to look for the lot we want to buy. When u find a lot never escape the due diligence. Get informed about cut lot from a mother title. It s a pain in the ass as it takes yrs to get the title in your Filipino’s name. Better to buy a whole lot size written in the title be it Original Title (OCT) or Transfer Certificate of Title (TCT).
Avoid mother titles, getting all parties to sign can take years. Avoid 'cuttings' or sub divided lots, often not legal (despite what the agent tells you) - if you wish to buy then only go for a wholly titled lot, and check the paper records with the local baranguay. Also find yourself an impartial attorney who has no interest or connection to the lot you wish to purchase
It depends on the total costs over time when it comes to purchase / long term lease Furnished unfurnished. I'm a retired banker specializing in Real Estate finance so I look at it from a little differently than most. I have a three to five years lease so again furnish / unfurnished depends on the difference in monthly rent. $100 a month is $3,600 over 3 years. So if it costs $5K to furnish it obviously better to get a furnished place. My deal is different but just basic math for people to think about when you have a choice
In 2019 purchased Condo, In 2022 build typhoon proof house, In 2024 purchased 2 farms, Also incorporated everything, Just to many assets here not to at least own 40%. Own everything, As far as Funds go its about 30% cost to build here if you do it yourself, Expect to pay 10 to 30% skin tax on everything from cement to wood. try to send family keep receipts so they don’t count you the next time you buy, They will trust me, Good Video
If you have and trust your wife or girlfriend, build a house and have a lawyer do a document simple ,my house in Bohol is only 70,000 Canadian, I got 500sq meters and walls around the property and gates , simple , two bedrooms car port two bathroom and all appliances, nice tiles completely finished
A very wise Expat told me during my first Expat weekly meeting...Never buy always rent. If rental you can move anytime. Especially if you get noisy neighbors, prefer different location Don't be "House Rich, Cash Poor". Cash is king in all foreign countries. If money is all allocated and tied up in house, what freedom do you really have. Age 60 or older, keep your cash, life changes and you never see these changes coming... medically or Relationships
If you build yourself go to the place where they make hollow blocks and ask the price fore concrete instead, its a lot stronger then the blocks here, they often break just by lifting them
Hey guys, come on, if you lease a property and according to the law if the owner have no place to live he can take back his property by court ruling without refunding any money. This is Philippines.
The owner can break the lease at anytime. They can sell the property, or die and then the relatives take over and have an incentive to break the lease. Either rent and never build, or find a really good trusting Filipina and buy land with her and build something simple, but durable. Cheers.
Once demand out numbers the supply, prices increase. With all the Vloggers in Dumaguete you are seeing an increase in demand and prices. The good news is tourism in the PH is down this year. Projected was 8.2 million but just been adjusted to 6.6 million as of August. With tourism down, hotels and Airbnb prices have dropped for the remained of the year.
If you rented your home back in the US, you might just as well continue renting in the Philippines (most Asian countries). It's the safest solution of all. Whether you build or buy, the house will never be yours. If or when your wife/GF decides she had enough of you, you'll lose your hard-earned money and everything you have invested in your marriage. This is what keeps me from moving to Asia.
@@jsully4064 No matter what percentage of my money I lose, I still lose. Loss is a loss. There are many countries out there where you can buy property in your name. E.G. Dominican Republic, Costa Rica etc. However, I'm gonna wait for the outcome of the election before I make my decision. If Trump wins, I'm staying home.
My fiancé is going to let me pitch a tent ( 10x14 Kodiak canvas ) tent on their property for 3 months when I retire and come visit. If I like it there enough to stay we will be building a bungalow on the same spot I’m pitching the tent. I retire in June and my 1st purchase will be a Honda Airblade 160. I can’t wait, How hot will it get in my tent? Lol
For about $100,000, I purchased land, built a house, purchased a truck and a motorcycle, installed solar, and fenced my property. I have my own water, but am still hooked up to our barangay’s water. That costs me about 350 pesos per month. So, other than food, water, medical, insurance for the vehicles, property taxes, and travel expenses, I have no bills. If you’re sure about your location and your spouse, there is no reason not to put down roots here. In regards to land acquisition, my advice is under no circumstances should you deal with a broker. Deal directly with the owner instead. Here, the broker is a middle man, and they don’t do any actual work other than list and show the property. For their services, you, the buyer, wind up paying 2 or 3 times over what the property is worth. Yes, the brokers here make more on the sale than the actual land owner. Instead, do your own footwork where you want to buy. Ask the locals who has land for sale. Get an attorney. Go to the municipality and research the property. Make sure that it is a clean title and hasn’t been pawned. Make sure the land area has been surveyed PRIOR to exchanging money, and only exchange money in front of your attorney. Trust nobody here.
Wel if you buy together land to build on it its also no garantee ,if all is build and she make it difficult to you ,you even lose more and then she have a nice annuale (devorse) presend from you ,unless there are ways with a lawer before you buy it to secure that it get split 1/2 but otherways its also no garantee there foreigners can't own land ,so yes rent wil be good solution ,if you brake up she don't get it
Here is the video we take about buying land in Valencia ua-cam.com/video/EQ_8jvEsmSA/v-deo.html
Being an expat coming to the Philippines since 1983 and living here for years. I don’t like most condos, I can’t own land, I may move so nothing permanent. Rent is the way I have chosen. I live in a well maintained, grass, trees, pool, just the right size, central water heater, great air conditioning, security.
life is good and we cant life off what if something happen we just need to be happy live good and die
Here is the video we take about buying land in Valencia ua-cam.com/video/EQ_8jvEsmSA/v-deo.html
so true guys as long as your happy and have people you trust and love around you
When we married 19 years ago my wife bought a 1k sq. meter lot and built a small house. 4 years later when I retired (at 55) sold everything and joined her with 4 million peso to spend. Fenced and gated the lot and built a 140 sq. meter house 3 bedroom, 3 bath. With an income of 110k peso a month and the biggest expense being food for a household of 5 life could not be much better.
good job John
Here is the video we take about buying land in Valencia ua-cam.com/video/EQ_8jvEsmSA/v-deo.html
If you lease from someone, Once the person you signed the lease with has your money, you are worth more dead than alive. If they can find a way to have you killed, they could release or resell the property again. You will always have a target on your back.
Exactly. You're a smart guy who knows these people
Here is the video we take about buying land in Valencia ua-cam.com/video/EQ_8jvEsmSA/v-deo.html
Easy answer,RENT,no matter what,keeps u out of trouble and not tied down.
thanks John
Good video, Janet and Mike..Thanks for posting...Jim
thanks Jim. Here is the video we take about buying land in Valencia ua-cam.com/video/EQ_8jvEsmSA/v-deo.html
easiest answer Camella, considered the largest homebuilder in the Philippines, with a proven track record of producing high-quality homes
Track homes not that nice
@@mikesphilippineretirement have you ever toured their gated communities they sell like hot cakes
Yes I have they have them in Dumaguete
@tommoskal9365 Really don't like living in a 2 story home as am older and starting to have knee problems. Some of their ranch/bungalow type homes are interesting but they are really small, usually.
@tommoskal9365 just because others do it, doesnt make it a good idea.
I've covered most of these points over the past several months, and my last video in the series is tomorrow.
Renting can be frustrating, if the owner doesn't want to fix anything.
But buying can have some serious consequences if you don't do your due diligence and get your own attorney BEFORE signing anything!
My next video will show a potential 'gotcha', if we hadn't been paying attention!
Good video, Mike 👍
Here is the video we take about buying land in Valencia ua-cam.com/video/EQ_8jvEsmSA/v-deo.html
I grew up in Construction, career as a computer programmer. when I decided to move to PH, I chose to build. Buy land, and build. As luck would have it, my future wife's brother is a civil Engineer. Very helpful. All done in 2007.
good you have good family here
I'm renting an apartment in Iloilo for P8,000/month, unfurnished. There are more options for food and the roads are better. Medical is excellent here. I'm hoping the foreigners stay in Dumaguete so that my rent stays low.
enjoy Iloilo
It took us 2 yrs to look for the lot we want to buy. When u find a lot never escape the due diligence. Get informed about cut lot from a mother title. It s a pain in the ass as it takes yrs to get the title in your Filipino’s name. Better to buy a whole lot size written in the title be it Original Title (OCT) or Transfer Certificate of Title (TCT).
@@underthecameraingermany8304
DON'T BUY anything here dummy
it takes time do not be in a rush or take short cuts
Here is the video we take about buying land in Valencia ua-cam.com/video/EQ_8jvEsmSA/v-deo.html
Avoid mother titles, getting all parties to sign can take years. Avoid 'cuttings' or sub divided lots, often not legal (despite what the agent tells you) - if you wish to buy then only go for a wholly titled lot, and check the paper records with the local baranguay. Also find yourself an impartial attorney who has no interest or connection to the lot you wish to purchase
thanks for the info Toby
You can purchase a portion of a titled lot. It is completely legal. I did, and we have our title. 👍
of course they can subdivide a lot and sell the subdivided sections
Here is the video we take about buying land in Valencia ua-cam.com/video/EQ_8jvEsmSA/v-deo.html
Mike and Janet, I agree that leasing from a stranger is not a smart thing to do.
Thanks LLL Here is the video we take about buying land in Valencia ua-cam.com/video/EQ_8jvEsmSA/v-deo.html
It depends on the total costs over time when it comes to purchase / long term lease Furnished unfurnished. I'm a retired banker specializing in Real Estate finance so I look at it from a little differently than most. I have a three to five years lease so again furnish / unfurnished depends on the difference in monthly rent. $100 a month is $3,600 over 3 years. So if it costs $5K to furnish it obviously better to get a furnished place. My deal is different but just basic math for people to think about when you have a choice
thanks for sharing Darrell
Here is the video we take about buying land in Valencia ua-cam.com/video/EQ_8jvEsmSA/v-deo.html
Another well presented video Mike. Thanks for the info. It all adds to the pool of knowledge to help people make the right decision for them
In 2019 purchased Condo, In 2022 build typhoon proof house, In 2024 purchased 2 farms, Also incorporated everything, Just to many assets here not to at least own 40%.
Own everything, As far as Funds go its about 30% cost to build here if you do it yourself, Expect to pay 10 to 30% skin tax on everything from cement to wood. try to send family keep receipts so they don’t count you the next time you buy, They will trust me, Good Video
thanks for sharing
Here is the video we take about buying land in Valencia ua-cam.com/video/EQ_8jvEsmSA/v-deo.html
I missed Janet at the end saying: "Don't forget to like and subscribe."
next time maybe
Leave the sunglasses on. You look like two Hollywood Stars.
hahaha
Here is the video we take about buying land in Valencia ua-cam.com/video/EQ_8jvEsmSA/v-deo.html
@@mikesphilippineretirement Yes, I saw that. Thanks.
If you have and trust your wife or girlfriend, build a house and have a lawyer do a document simple ,my house in Bohol is only 70,000 Canadian, I got 500sq meters and walls around the property and gates , simple , two bedrooms car port two bathroom and all appliances, nice tiles completely finished
thanks for sharing
The one thing you didn't consider is maybe you want to leave your love of your life something to say, see how much i love you.
keep watching. Here is the video we take about buying land in Valencia ua-cam.com/video/EQ_8jvEsmSA/v-deo.html
A very wise Expat told me during my first Expat weekly meeting...Never buy always rent.
If rental you can move anytime. Especially if you get noisy neighbors, prefer different location
Don't be "House Rich, Cash Poor". Cash is king in all foreign countries. If money is all allocated and tied up in house, what freedom do you really have. Age 60 or older, keep your cash, life changes and you never see these changes coming... medically or Relationships
Thanks for sharing!
If you build yourself go to the place where they make hollow blocks and ask the price fore concrete instead, its a lot stronger then the blocks here, they often break just by lifting them
thanks for sharing
Hey guys, come on, if you lease a property and according to the law if the owner have no place to live he can take back his property by court ruling without refunding any money. This is Philippines.
show me the law.
Actually, I am now wondering if the government on purpose does mislead people so to avoid the country being flood by strangers. Tricky situation.
yep can happen to anyone anywhere but we cant live off what ifs
Here is the video we take about buying land in Valencia ua-cam.com/video/EQ_8jvEsmSA/v-deo.html
good info and another great video
Glad you enjoyed it
Here is the video we take about buying land in Valencia ua-cam.com/video/EQ_8jvEsmSA/v-deo.html
The owner can break the lease at anytime. They can sell the property, or die and then the relatives take over and have an incentive to break the lease. Either rent and never build, or find a really good trusting Filipina and buy land with her and build something simple, but durable. Cheers.
thanks for sharing sound advice
Once demand out numbers the supply, prices increase. With all the Vloggers in Dumaguete you are seeing an increase in demand and prices. The good news is tourism in the PH is down this year. Projected was 8.2 million but just been adjusted to 6.6 million as of August. With tourism down, hotels and Airbnb prices have dropped for the remained of the year.
have they as the Ber months are the biggest tourist months
Rent is the ONLY WAY TO GO mike leasing or buying is in most cases is a huge risk making it profitable to terminate relationships
at first. depends on many things
Here is the video we take about buying land in Valencia ua-cam.com/video/EQ_8jvEsmSA/v-deo.html
Exactly,not to mention poor building standards.
40-60k for Airbnb in Dumaguete?? I just checked. I’m seeing 25-48k. UA-camrs should fact check before pretending to know things.
I know 2 places that charge 2 k anight.
I rent airbnb for condos for 20k per month often.
To many factors and variables to generalize at that price and what you’re getting for your money.
@@charlesbronson5235 agreed. Need much more info. It's not a blanket situation.
I like the idea of owning a condo in the city and visiting relaxing/beach areas on weekends.
@@KKMDStyle
Mistake KK
@@KKMDStyle
Read my lips KK
DON'T BUY anything here.
some condos are over priced and very small
Here is the video we take about buying land in Valencia ua-cam.com/video/EQ_8jvEsmSA/v-deo.html
Hello Mike and Janet
hi
If I get rich from UA-cam then I'll buy a condo next to a fancy mall 😎Great topic Mike!
fancy mall. hahaha
Hey Mike I've used Airbnb twice at Marina Spatial. First time 25k/month, second time 28k/month last January.
Good to know!
Here is the video we take about buying land in Valencia ua-cam.com/video/EQ_8jvEsmSA/v-deo.html
Mike are you and Janet planning to build?
Here is the video we take about buying land in Valencia ua-cam.com/video/EQ_8jvEsmSA/v-deo.html
If you rented your home back in the US, you might just as well continue renting in the Philippines (most Asian countries). It's the safest solution of all. Whether you build or buy, the house will never be yours. If or when your wife/GF decides she had enough of you, you'll lose your hard-earned money and everything you have invested in your marriage. This is what keeps me from moving to Asia.
thanks for sharing Johnny
@johnrynkiewicz1607 Make sure you do not invest all your money in a home. Would not do so myself.
Here is the video we take about buying land in Valencia ua-cam.com/video/EQ_8jvEsmSA/v-deo.html
@@jsully4064 No matter what percentage of my money I lose, I still lose. Loss is a loss. There are many countries out there where you can buy property in your name. E.G. Dominican Republic, Costa Rica etc. However, I'm gonna wait for the outcome of the election before I make my decision. If Trump wins, I'm staying home.
@johnrynkiewicz1607 If you do not trust your wife/gf then I would agree with you. The Philippines is not for everyone.
depends on what you want to leave your wife i guess if you dont care after you dead and gone well rent
@@jamesgilbert2181
Stupid Post James
you can leave her money
Better owning a house than leaving her money she will only spend it on her family and be left with nothing
Here is the video we take about buying land in Valencia ua-cam.com/video/EQ_8jvEsmSA/v-deo.html
Yeah sure....
got it
Here is the video we take about buying land in Valencia ua-cam.com/video/EQ_8jvEsmSA/v-deo.html
My fiancé is going to let me pitch a tent ( 10x14 Kodiak canvas ) tent on their property for 3 months when I retire and come visit. If I like it there enough to stay we will be building a bungalow on the same spot I’m pitching the tent. I retire in June and my 1st purchase will be a Honda Airblade 160. I can’t wait, How hot will it get in my tent? Lol
you won't last 90 days
@@mikesphilippineretirement even with solar power and a portable a/c unit?
Love you and Janet.
NEVER buy anything in the Philippines. Dumb!!!!
many are buying now
For about $100,000, I purchased land, built a house, purchased a truck and a motorcycle, installed solar, and fenced my property. I have my own water, but am still hooked up to our barangay’s water. That costs me about 350 pesos per month. So, other than food, water, medical, insurance for the vehicles, property taxes, and travel expenses, I have no bills.
If you’re sure about your location and your spouse, there is no reason not to put down roots here.
In regards to land acquisition, my advice is under no circumstances should you deal with a broker. Deal directly with the owner instead. Here, the broker is a middle man, and they don’t do any actual work other than list and show the property. For their services, you, the buyer, wind up paying 2 or 3 times over what the property is worth. Yes, the brokers here make more on the sale than the actual land owner. Instead, do your own footwork where you want to buy. Ask the locals who has land for sale. Get an attorney. Go to the municipality and research the property. Make sure that it is a clean title and hasn’t been pawned. Make sure the land area has been surveyed PRIOR to exchanging money, and only exchange money in front of your attorney.
Trust nobody here.
@@mikesphilippineretirement DUMB Mike
@@mikesphilippineretirement
Can't fix Stupid Mike
😂
Guess your going to have to leave her a house to live in when you turn your toes up old mate..
I can not take it with me
Here is the video we take about buying land in Valencia ua-cam.com/video/EQ_8jvEsmSA/v-deo.html
Wel if you buy together land to build on it its also no garantee ,if all is build and she make it difficult to you ,you even lose more and then she have a nice annuale (devorse) presend from you ,unless there are ways with a lawer before you buy it to secure that it get split 1/2 but otherways its also no garantee there foreigners can't own land ,so yes rent wil be good solution ,if you brake up she don't get it
see a lawyer. you can be protected
Here is the video we take about buying land in Valencia ua-cam.com/video/EQ_8jvEsmSA/v-deo.html
Hello Mike and Janet
Hello
Here is the video we take about buying land in Valencia ua-cam.com/video/EQ_8jvEsmSA/v-deo.html