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Cost of Living in BGC - Monthly Association Dues 💰 Condo Ownership in Uptown BGC, Philippines 🇵🇭
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- Опубліковано 1 лют 2023
- The price of home ownership -- Going over how much we spend each month on our Association Dues (HOA) in Uptown, BGC, Philippines.
Thanks for the info. A lot of vloggers reveal the values of the properties but forget to mention the important part, which is the HOA. Anyway, we live in a 91 sqm condo unit here in Foster City, CA. Our HOA has gone up from $570 to $630. Inflation really sucks!😖
Wow, that's quite a spike! Totally, the inflation is bananas 😅😅😅😅 I hope you're winning big on the capital appreciation though
I have direct ocean access (most expensive land on US) and my HOA fees are $250 a year and we hsve s large pool....lots of ponds and prestine landscaping. $430 a month is insane when the workers wages to maintain the property are closer to 500 pesos a day.
Also Real Estate Tax which is paid annually.
That’s actually not bad. We’re paying $500 for 67 sqm in Belmont, CA
@@garrydye2394 Where do you live? How much Hoa per sqm per month?
Jay, have you been to the Sky Garden & lounge on the 14th & 26th floors? Almost done..the fountains are not running yet. I went there to check the Pasig skyline view (day & night), it's awesome! I believe the gardens will have wifi access, when finished. It would be nice to sit there & have coffee. Why not showcase the sky gardens in a short video?
Yup, I love going up to the Sky Garden for the view and to look at the latest progress going on at Uptown Arts 🤩 Can't wait for wi-fi access, that would help a lot In regards to showcasing it, I think I overlooked it and was focusing more on the amenities deck. Maybe we can film a short video on it once it's fully completed. Cheers!
Dam bec of my support for this Chan I just watched almost 3min ad!😂 Keep the updates guys. O saw Jenny on the mirror reflection. Watching you from Sweden! 😊
Wow, thanks so much, it's much appreciated by us! ❤❤❤❤
As far as I was informed parking space is not included and it’s ridiculous😳 but I’m curious if it’s the same in all condos in Philippines?
In Orange county, California, HOA fess in high-rise condos, runs upward of $1,200 monthly for a 100 sqm unit
Thanks for tackling this topic. I’d like to know if you can interview expats there and find out how much they make. I’m looking to see if I can be hired with expat rates coming from the states even as a Filipino. Thanks again
Would love to in the future! Just need to network with the right people and find some good stories to share. Cheers!
Thanks for this very informative vlog. We have a 2 bedroom in Makati, an Alveo unit (a subsidiary of Ayalaland) and have long suspected our association dues were high. Your vlog confirms it as our rate per square meter is 142. Ugh! Our amenities are very similar to those found in your complex & with over a 1,000 units spread across 3 towers, not sure why our cost per square meter is so high. Any rate, thanks again for the excellent vlog!
How's the market in BGC? Was looking at 2br from Ayala and it's very expensive. Close 700k dollars US. Preselling. Is it worth it? Is it hard to sell if needed?
Great question, concern and an even better observation. For this reason, I have been procrastinating and reluctant to buy a condo in BGC.
For small properties in USA it’s definitely $300-450 per month for hoa
Maybe what you mean is that 430usd a month for HOA is your monthly payment for the condo unit not just an obligated to give to the HOA its extortion if they ask you for monthly wherein fact you fully paid the unit
That pool looking chillAF!!❤❤❤
Chill vibes for sure! 😎
Wow! I'd love to invest in BGC Condo. thanks for this!
Great looking shades jay 💪
hahaha I was at the pool so yah know... 😎
another awesome and informative segment….. I’m just doing my homework before making my move to P.I. :)
Thanks for the support! Just let us know if you need anything in particular. Cheers! 🍻
what's the name of the condo? does it have a basketball gym? I saw one of the youtubers post a condo tour with one in BGC.
It's the other building next to the one with the basketball court
At 8:50 What is that on the ceiling, is it already mold. The level of finishing is quite substandard with painting the walls and ceiling. Yikes thinking this is the level of BGC new build.
In the Bay Area for a 1960’s condo. Everything is rundown for $700 HOA.
Hello! I am not sure if you’ve already tackled this but have you asked if there’s a property tax for owning the condo? I mean of course we pay property tax here in US, but as a foreigner, I don’t know how it goes 😢
There is a yearly tax assessment for a condo.
How much / how many percent is the property tax?
And im sure the function rooms you pay to build with future HOA and then charge you to use thst space.
Is that the Condo u live in BGC or just showing another Condo…the price per Square is cheap where is this can u give me the name n place in BGC is this under Megaworld Company…
It's the condo I'm living in. Yes, this is a Megaworld tower. Cheers!
Have not see many over 400.00 condo HOA fees in the USA.
But my issue is the property management companies. You cant get rid of them and you better follow their rules if you are in the PI
$400 would be on the low end in Cali... Yeah finding a good PM can be a challenge in PH.
Which condo are you referring to in ur blog?
Thank you for the info.
Cheers!
That's why I bought 1BR only, 50 sqm. Perfect for 2 people.
Great place my friend!!
Cheers my guy! It's a cool area to chill and unwind
I call it an extortion claws
Once again thank you for providing this information. Next would be the property tax topic. Please and thank you.
You're very welcome! Glad you found the content useful and yup, we still have to cover property taxes. Fun, fun, fun, haha
May i know the mane of this building?
I heard with those condos in Philippines, once the place gets rented out, that HOA fees then skyrocket. Also, I've heard horror stories about how poorly things get maintained five years and on. Personally, for me, renting is cheap. I'd never, ever purchase a condo there.
I can't say for this condo since it's relatively new construction but in my other unit, the HOA fees have been static for 3+ years now. Not sure how long that will hold since inflation is so rampant, globally. Yes, renting is cheaper than owning but I wanted a place to call "home". Cheers!
@@BGCDreams Understand that you are at the mercy of the HOA. And should that elevator that goes to the 40th (or whatever) floor breaks, you know who will pay for it. Pool repairs are expensive. All those trees, bushes, outdoors, the rooftop, specialty room, gym, raking the leaves, mowing the grass, and literally everything else.
Personally I own properties in Arizona. My HOAs there is always something going on that takes my time. That said, there isn't much to take care of, other than a pool, mail boxes. My HOA fees range from $140 to $250 depending upon unit. While your BGC properties look great, believe me that it comes with a price, and when it goes in disrepair, and it will, I know who will pay for it.
While yes, landlords can toss you out at anytime, flip side of the coin is that you're not attached to the property, nor the potentially incompetent HOA. And should things go bad there and you want to move across the street, you can do it with fair ease.
@@jonb3189 I hear you, I've been dealing with HOAs in California for 10+ years, owning properties out there. Was always into the cash flow/rentals game until I came out here and really just wanted a home base in Asia to leave my stuff. It's not for everyone and all good if it's not for you. To each their own... 👍
it’s 100 per sqm right?
Good to know👍👍👍🇵🇭
Cheers Frankie!
that's BS paying $430 per month that's high and they hardly or lacking maintenance of the area specially the pool? I would sell that property.
Just curious why did the monthly rate increase if you already signed a contract for $300/month? Sorry I'm new to this condo-ish thing hehe.
Oh, it's common in the states for the HOA to increase yearly, especially now with all the inflation going on... It's never a fun experience seeing the new bill though, haha
@@BGCDreamsHOAs in the States dont go up 50% in a year. You sign a contract with a max % increase.
Is it better to rent or buy there?
I want to build my own condo in my province area so I don't have to pay any dues LoL it's too expensive in BGC 🆒😎👍 A lot of people on weekdays? Don't people have to work and kids go to school?
Haha, yeah it can get quite pricey in BGC. Yeah, lots of kids go to IS which is nearby...
@@BGCDreams Oh ok 👍
cool
I feel so much of this is a waste. If I dont have kids using the playgroujd or daycare then I dont want to nr paying for it. And much better value to get massage out on town thsn pay for sn entire massage area thst is still expensive when you use it. Its like paying for an added restaurant to ne built in the hotel and the upkeep of it....only to be chsrged high prices for a meal after your HOA fees built the place. To muvh wasted fluff that are more usef as selling pitches.....but you have to end up paying for the pitch. Big negative for me.
👍✅👍
How do you manage your house in California when you don't live there physically?
I have long-term tenants and relatives/friends still there, if I really need assistance. For the most part, the tenants are self-sufficient and really great
@@BGCDreams If you don't mind my asking, how much do you get per month for rent for you unit? Are they fully paid or still paying mortgage?
How much is the total amount you’re paying out of the door ?Planning to buy there in bgc . I like you to be my neighbor and Jenny Lol . Rodel from California
For BGC, I think you should probably expect to pay somewhere in the neighborhood of 250k PHP / square meter now... For new construction, it might be as high as 290k now but of course you'll have to shop around and hopefully find a great deal somewhere. All the best!
So how much for the condo for the 2 bed room there to buy
It would depend on the size of the condo, but in general, for Uptown BGC, prices are typically in the 250-270k PHP / square meter... For new construction, such as Uptown Arts or The Seasons, that's more in the 350-400k PHP / square meter range. Hope that helps!
Just curious, Are you planning to get permanent residency in Ph?
Yup, that's definitely on my agenda. There are many ways of going about it and hopefully I find the optimal one for my situation
@@BGCDreams Have you visited Nuvali? It's in Laguna it has BGC vibes as it is seen as a high end area and many people who work in the metro manila live there to avoid the city noise of manila lol
@@norjinblue3536 Haven't been yet but have heard a lot about it and even agents have given us sales pitches to purchase lots there. Seems very exciting and we've talked to a few people who are really excited about its prospects. I hope we'll be able to make it out there this year, ideally sometime in Q1. Cheers!
Are pets allowed?
That’s too much money for PI.
How do Filipinos afford to live there?
Can most people in Cleveland or Detroit afford to live in Manhattan?
What do you think of Filipinos, all dirt poor?
@@robocop581 If they get a job that pay enough, then yes. Or if they have a business that make enough, also yes
@@robocop581 People in the US move around the country all the time.
There are many who can afford BGC but it's probably not affordable for the average worker. You would need a high level position/salary to afford it. If you're getting paid as a foreigner/expat, then that's a different story...
Phillipines better living👍👍👍🇵🇭🇵🇭🇵🇭
For sure! 🎉🥳
It's not fair to compare US to Philippines as the living standards are different, not to mention the weather. It's moronic to compare a rich country to a third world country. Their furnishings alone cannot even match with Thailand. It goes to show you do not have an eye for a good quality of product.
This comment just shows how much of a prick you are.
When you are paying almost the same price in each place you have to compare, So no, its not a good investment to buy a condo in Manila
Very nice. Condos here do offer much more.
@BGC Dreams This is not a fair comparison. Why not compare a tier 1 area and condo in the US or Thailand vs the Philippines? It would be truly a fair comparison.
Hmm, what's not fair exactly? I used a datapoint that I had available at my fingertips and the townhouse I own in Silicon Valley is definitely in a "tier 1" location. Sure, it's not city living but if you wanted to scale up and make that comparison, instead, then the Philippines and BGC come out even more miles ahead b/c of the massive value proposition the latter would present. Basically, what I was saying is that I'm paying like 2x the amount of money for HOA dues in Cali and I'm getting next to nothing in return. In BGC, you get a lot...
@@BGCDreams Is not BGC a tier 1 location or city in the Philippines? Comparing a tier 1 and tier 2 locations is not a fair comparison. I am not speaking in terms of nations but cities. It would be like me comparing BGC to Aspen or Vail Colorado.
@@jackblack5833 It's subjective but I would classify BGC as a "tier 1" city and location... I would also classify Silicon Valley as a "tier 1" city and location... relative to anywhere on planet Earth... but that's jut me 😊 Cheers!
@@BGCDreams I guess you don't consider Vail or Aspen as tier 1 location? You clearly understand my point but have it your way. Good Luck!!