How To Build Your Own Home in the Philippines? Q&A at a Taco Stand!
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- Опубліковано 21 жов 2024
- How To Build Your Own Home in the Philippines? Q&A at a Taco Stand!
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About me: My name is Gio and I left the USA over 5 years ago to travel SE Asia and live a better life. Follow my journey as I travel around The Philippines reviewing different islands and cities.
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How To Build Your Own Home in the Philippines? Q&A at a Taco Stand!
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About me: My name is Gio and I left the USA over 5 years ago to travel SE Asia and live a better life. Follow my journey as I travel around The Philippines reviewing different islands and cities.
My channel: Reviewing different islands and cities in The Philippines as places to visit or live, condo and apartment reviews, dating tips, & how to travel and live inexpensively in The Philippines.
I did some research on this.
To finance a home in the Philippines:
Filipino citizens: 20% down
Foreigners: 30% down
Loan term: 5-20 years. A foreigner will find it hard to get anything past 10 years.
Interest rate: Right now, 5.75%-9.5%, depending on the loan term (higher rates for longer terms)but the governor of the Central Bank in the Philippines said interest rates were going to go up this July to fight inflation, which is now at 4.3% in the Philippines (8.5% in the States)
One bank that loans to expats is BDO Bank
I can't put a link in this comment or UA-cam will remove it, but I emailed a link to Gio from Wise that he may post on his website
Hopes this helps
For an expat looking to build a home in the Philippines, dealing with an American Contractor makes it really easy to understand the costs.
its all in the trust factor
Thank you Gio
That man is amazing he is his own building contractor and he has his own restaurant and is relatively young wow he is super cool
Great interview Gio. I appreciate Tommy sitting down with you and sharing his knowledge.
The contractor is so right. The title is vital. Time and again my friends buy the land and build only to find years later relatives of the sellers claim that they have a claim on the land and have to be bought off
Hello Gio. You might look at this angle. Buy land under your spouse’s name. Then you legally lease the property under your name for whatever lease time frame allowed in PH. In this case you legally own the house and the property within the lease term. Just a friendly advice. Good luck.
Thanks been researching for 2 yrs and can be compex / confusing
My wife and I are purchasing a three story townhome (2000+ Sq ft or 186+ sqm) that is currently being built in a community. It's a little bit over $100k with 30% down. It's currently being built. We preferred the unfurnished version versus the turnkey. We're going to customize it the way we want it. I wish Tommy and his crew can come to the Bicol region. 😁 We're doing in-house financing for 5 years. It is 7% for in-house financing. I think it is somewhat high if I compare it to what I would get in the US with my excellent credit rating. However it's way better than what the banks are offering. Apparently the banks are talking about 12% 👀. We also have two kids together. So I'm not worried about losing the property if things go sour. At least my kids will live there and future ownership. My wife already told me she's not going anywhere. Til death do us part. 🤣
My wife and I just build a house in the Philippines. We didn’t finance the house we just hired a contractor and worked out payment plan with him. He ask for a percentage down and paid him as he was building the house at the end we owned the house it took 5 month. 3 bedrooms and 3 full bathrooms for 26,000.00 dollars. My wife Bought the land. So we have no payment at all
wow, amazing price!
I am looking to have a house built. Can you share the sqm or sft of your house?
Is it Filipino style house? Sound awful cheap for the build. What year was this?
I can tell you from my experience those build numbers are realistic
@Evan and Ging travel. Can u post a picture and details. Cost for materials right now is 30% higher . I’m certain the appliances and fixtures will make the prices fluctuate . When I was building my house, my faucets in bathroom and kitchen ranges in prices. Will be building in the Phil but certainly not $1.5 but not $ 5.
Interest rates at a bank are 6.99% for 30 years. You can build your own nice house quite easily for $15,000.
I couldn't find any loans for foreigners longer than 20 years. What bank is that?
@Phil Jones True, if you are looking at financing any amount for a house in the Philippines, you have already made your 1st mistake and don't know that you made a mistake.... Your second mistake is considering using the Filipina banking system to arrange financing. If you can not arrange to work in the USA for 6 or 8 months to get cash for the home- You are not ready to but a home.
@Phil Jones for sure on that..
I'm a cross country truck driver and I'm banking $25,000 every 6 months out after all my bills.
I'd like that deal if Paco could find the land for me to lease and I just give him a down payment to start my house. 2 bed and 2 CR
Build a relationship first with a solid foundation.Then after enough time you are comfortable to settle and secure get land and build a house if that is what is agreed.or desired.Only certain places will do a lease on land andf will require leagal documents etc .Never rush this decision if done iincorrectly and rushed like a relationship it will /has and can end badly
A-Frame loft homes are so cheap to build in the Ph. And very sturdy. Just lease a lot. The house forfeits to the landlord as an improvement to their property. If your married the lease continues with her. And she owns the house.
Thank you for this vlog! I always wondered about building a house in the Philippines, so this was cool to watch. 😎. I hit like and subscribed.
Followed their fb page right after your vlog Gio. They do impressive work. I hope they post more pictures.
Coming to look for Tommy next year. Time to move back to the Philippines 🇵🇭.
Good video. Save yourself the headache and rent. So if a typhoon damages a house you own you have to make repairs. In Florida after hurricane Ian (like most hurricanes), contractors inflate repair prices. It's better to rent and worse case scenario (in the event of a typhoon or earthquake), you rent another home.
Interesting video Gio, thanks for sharing. He’s a nice friendly guy, and does a really good quality job with his house building. The food looked good too.
Great Video Gio...good info...
Thank You For what you do...
Always Good...
Great vlog G. Keep them coming
The smartest thing I’ve heard to get around the foreign ownership thing is to have a kid, put it in the kids name. Not airtight, but far better.
Get top lawyers involved. Perhaps from to seperate firms, and even cities..
Give a contracted loan to the partner/wife in order for her to buy the lot. If she sells, then she needs to pay the loanshark first; meaning you. Including the gains made over the first x-years, or so. Basically a loan-contract that puts you in control of the lot, as there is no gains to be had from selling it behind your back..
Besides, you arrange a lease contract on the property with her for 50+25 years. 1 dollar per year, prepaid.
Then build/buy the house in your name.
Smart, or not?^^
@@Avathor73 ILLEGAL ,, that loan thing is 100% ILLEGAL in the Philippines AND in Thailand ,,, best get yourself familiar with the laws
yes... bank financing for real estate projects will range from 9% to 12% for regular clients.. it is tempting to get financing from the US... but you need to consider peso to USD exchange rates down the road
I hope more of him come here so that many could have a contractor that they can trust. Some are really unskillled but advertise as if they can do the job to your liking… experienced so many redos! Headaches
Sometimes Filipinos jack up the price if they know the contractor is foreigner, I think it’s good to let the wife handle buying the materials. If I’m the wife I’ll go to 50 different stores and suppliers and compare the price
Check into build materials. One is AAC. Aerated Concrete. We’re using it. Way less rebar. No concrete sand needing to finish. The AAC is cooler, stronger and goes up very quick. Workers adapted extremely fast
Hi..this caught my attention...can you please expound on this AAC? We're on the planning stage to build a house and if I suggest this to the contractor I need to familiarize (from your perspectives)myself about AAC as well.Thnx in advance for sharing your time & knowledge...
A good conversation about an eternal question that comes up all the time for the whiteman..."ownership of land"...Im Australian born & I also had fears...marrying the right Pinay is a good start for a relationship...then non quota visa then Dual Citizenship. The whole process from noon quota visa to citizenship or dual passport holder or dual citizenship is approximately 3 years. No more visas for South East Asia and no more concerns about land ownership, not that I have ever had a problem nor will I with regards to it all...the whole process is easier than you think...good luck everybody...
By far the best Mexican food in the Philippines!
Cool tacos are my favorite . Good information
Thanks Gio!Good vid!!
Great video as usual ☺️
Tommy is a very impressive man! When is your business gonna begin Gio!?
coming for the Tacos!!! God info.
In Leyte you can find Affordable Land near beaches,
We find a way😀to stay. Great advice from someone who has tons of experience. Thanks for sharing, I would love to build a custom home in PHL but would definitely do my research and hire lawyers.
great vid
Hi Gio, I'm about your age. I want to come to Dumaguete, Cebu or Davao in about 2 months. Please, if you want, can you make a video about how can I find a place in your area? Rent, transport from airport, and so on. That would be very helpful. I need a studio, small place or share it with another expat, and hot water. Thanks! Looking forward to it! Cheers!
Rent an Airbnb for a couple weeks, and then use that time to look around for a longer term rental.
if you are in Davao
I have 2 units for rent
1 just behind a mall
and the other one close to airport area
close to the malls too
I still feel its much better to Rent in the Philippines.... You can easily find 2 -3 bedroom furnished house for rent for $400 per month...when you get tired of the place you just pick up & move on to another place....Minimalist lifestyle.... 1 suitcase & a backpack....
Good Video, Enjoyed it.
good interview. hope he mentions different prices...
As far as I know finance for expats is no ..mostly have their own money to build already ..we Filipinos must be a dual citizens to get finance ..but I saved and built our house to make the process easier .. 👍💖
Great information Gio. I’ve noticed a lot of chatter & inquiries over the years about retiring in the Philippines 🇵🇭. Especially in the Visayan islands regions. Coming from Canada 🇨🇦 by the way.
Do you recommend that expats choose Cebu, Dumaguete,Bohol, or Iloilo area compare to settling in Luzon or Mindanao areas?
It really depends on what you are looking for.
One reason to build vs rent, costs of everything are going up with inflation. Paper money will be worth way less in 10 years, and rents will be higher. It's better to own something real like real estate.
Great interview, thank you!
If you have a wife or significant other or children you may wish that you leave the house for them. Building a house in 3-4 months is quick. Do you build the house using bricks or dry wall just like in the US?
Never ever lease land, that's like building your dream home on somebody else's property. Just say you're still around at the end of the lease....it doesn't mean they will renew the lease, that home is gone unless you move it. Rent, rent and rent, it's cheap and comes with no headaches and broken hearts down the road. If you must and I know they're some out there that have been burned in the past............if your Filipina has land and you decide to build on it, get a lawyer and have papers on the living conditions or a selling option just in case you and her part ways. Another good idea is if you and her have a child together, many will put the child's name on the property papers so that nothing can happen to the home. Trust Me, Avoid the stress....RENT!!
and renting in the Philippines is the opposite from renting in the states, because rent is so cheap there. I seen rent there for $400 on a $200k house, do the math!
Also that 200k house would be 500k in the USA, and rent would be $3000.00 per month, and taxes would be 30k annually.
im kina fortunate..if i ever came into money where i could buy land/home @ ph prices i could easily live there the rest of my life carefree w/o ever worrying a wife could steal my land/home..
why? = i have a natural born sister there that Loves me, she would never do that to me..only condition though maybe i have to get her a home lol or she takes a room in my home lol
i know im in a very unique situation and not every guy can say that..but its nice to know if i ever did do that and if my Ph wife would try to divorce me and take my home, she never could since it be under my sisters name.
Or buy a condo, foreigners are allowed to own them in their own name cos they don't own the land
Nice video good content very interesting
It’s worth stressing that hiring a building inspector is a whole lot different to dealing with a local licensed engineer and also it’s worth taken into account that if you hire a contractor make sure they are licensed (registered in terms of having the right licenses to conduct a contracting business in the Philippines) this way you are protected in cases of bad builds (structural damage) hence a builder should be able to provide written warranties on the contract and each build should come with a builder’s insurance and guarantees even after a build. Building codes in the Philippines can get quite tricky so see to it that you are well protected as it can get very costly.
It used to be difficult. You used to have to test the cement for age and content
You can lease the land to up to 50 years
That's how my gf did it. Was about to buy 750 sq meters land and found some workers to drill well and build a small 3 bedroom with 2 bathrooms. All paid as we go. Finished most of it in 2019. Just few more things to finish bathrooms but owe nothing. In mindanao province. I don't know what the total cost was but maybe 10k usd. Could never do that in USA.
Mexican food looks legit
It about 7.5 percent through the Philippine banks
OMG the Chili Verdi looks awesome !!!!!
8:56 for those who want the thumbnail fulfilled :)
this is great stuff. thank you both !!
I bought a condo in and used in house financing and the max term term was 5 years and I can't Pay extra every month so the only way to pay it down faster is to make 1/2 remaining balance at a time so if I owe 500k I can make a 1 time payment of 250k towards principle and I think I can do this as often as needed
That's what my wife and I are about to do for our townhome.
Gio could you do vlogs on homes on the 2.5-5 million range show what you get for your money. If your viewers are looking at second homes to spend a few months a year in it’s more likely to be on the budget side of things.
I'll look for one
my gf and I recently were there and were excited to see a Mexican restaurant (Pacos Tacos) on our google maps...I am of Mexican heritage...but when we got there...the little place just did not seem appealing or clean..so we had to pass on it...
Tommy is a cool guy!!
We’re going to be building in Dauin. Hmmm? Paco’s Tacos is the best too.
Good stuff
If you have permanent resident visa you can technically own a lot.
I have an srrv and cannot own a lot. Why type vis u talking about
Only a Filipino can own land
@@ScoreGuru123 YES , the RACISM there is VERY strong
I understand contracts cannot be enforced within marriage there as it is assumed there is duress involved. One reason not to legally marry your Filipina
I'm 75 years old have no interest in owning the land or the house I could tip over tomorrow have no kid's to pass anything on to. My caregiver can have it all
No one gets sick of tacos.
If I get to buy anywhere close to his area, I will look him up and maybe work with him. I’ll bring my own design. It will only be about 100-135 m2 house but have to have enough land
anybody know if you still need an outgoing flight when you arrive in manila? I can't find a definitive link about arrival.
Yes
So how were the tacos? I demand a food review!
Still cooking 🧑🍳
@@rexmascarina2169 After eating at Tito's Tacos in LA, I have high taco standards.
The homemade taco shells are very good😀
What type of shoes are wearing on the scooter?
You should make some "ADOBO" tacos!!
Check EDC architect in Iloilo, he design & do construction. Modern to traditional design.
"Paco" Do you build using Cast form concrete or hollow block only ?
Gio, Cant one create a trust that owns the land and the dwelling? This way you could be a beneficiary of the Trust ?
NOPE
Best to contact an attorney.
Gio what my broker recommended was to put the land in my gf name and take back a mortgage
Im curious how people are paying. Are foreigners doing wire transfers from an american bank to a PI bank?
Or opening PI bank accounts and writing checks / transfering money from it?
Just wire from US bank to Filipino owners account in Philippines. When I bought my land in Tagaytay I paid cash deposit and when title transferred to my wife and my name l wired balance to the seller.
Philippine Banks offers financing up until the borrower's age to 65. So if you're fifty, your mortgage is fifteen years.
Tell this guy to open up an Instagram for Paco Taco’s. Free advertising. #everyonelovestacos
i have a question now if i was married to a Filipino woman and had 100k usd, would that be enough to buy land and build a nice size house on it with a whole house back up generator on it ?
Price of land depends on location. But to build a house, you’re looking at $400-$500 per sq m. So for a 100 sq m (1,100 sq ft) floor area, you’re looking at a total cost of $40,000-$50,000.
@Phil Jones I agree. You can rent for 20 years in the Philippines, for the cost of a 60k house!
around minute 11 you mention, check if you have right of way, what did you mean with that exactly please
Make sure the land is not claimed by any other parties, which an attorney can determine for you.
I noticed they have to screens on the doors or windows why?
Just rent, guys ~ rent is cheap ~ If you lease the land! You may get a Mexican neck-tie from the landowner or a family member one day. I'm not trying to be an a** hole here, but in the Philippines: Life is cheap, and you just do not just move to another country and build a $50,000 house! ~ Building a home or starting a business anywhere in the Philippines is like pulling teeth.
Tommy (the builder) has been in the PI for 18 years and the guy he built for has been there about that long. I think if you're going to build, make sure the Philippines is your permanent home. But I think you should rent for at least the first few years to make sure the islands are really for you, and to to decide where you want to live. It's a big country.
In NJ life is cheap.
agree, unless youre married to a local and stay lifetime
You are so right. I ve seen many many guys lost their money. Just rent and be happy. Enjoy your life without headpain and empty purse
Owner of a Mexican restaurant.... Greasy palms is easy 😆
What’s your location? Are you back in Duma?
Gio, will you be in Duma the first week of May?
Gio can you leave me his information. I would like to talk to him about building my house in Pinas.
Tlc construction services in Valencia found on FB
Are those tacos made with corn masa ?
For me it was easy for land I bought I gave them 40k php down 9kp month for next 2 years really not that hard to buy land
Gio I’m heading that way soon to build a house and would like to get in touch with Tommy could you give his information
The last time I talked to him he was booked for literally next 2 years
Is there a required license for you as a foreigner to do these?
To be a contract builder in the Philippines then one should have the right business permits to conduct business and also in terms of contacting, a licensed builder or contractor should be able to provide warranties and insurance of his project build in case there will be structural damage or poor workmanship that you don’t see or encounter on the first 2-3 years from occupancy.
Builders insurance policy is worth asking and make sure it’s legit and all written agreement not verbal. 😉
Good to have a contact just in case I need to build a house
I had heard from a Filipina lawyer that foreigners can own up to 40% of the land, as well as 100% of the building.
Have you ever encountered an expat in Dumaguete who gives out advice to expats that if you purchase a land or property that you should not put it in your gf or wife’s name instead put it in the expat’s daughter’s name with her being a filipino for certain amount per contract agreement? Some foreigners in the philippines are doing too many dodgy stuff and you think they’re giving you smart advices when the truth is… they’re actually just taking advantage on the new comers. He will strongly advice you not to put it in your Filipino wife’s name but sure you can put it under his step daughter’s name for 300k ( for your protection or rights over the property) making it a business for his own benefit. My question is, is Tommy certified and licensed to build homes in the Philippines? And under what working visa conditions is he in?
Is his projects come with builders insurance and warranties or is it going to be a wham bam thank you mam after build and you know how structural damages in homes occur after 5 years? Installing tiles without using adhesive instead doing the 50-50 ratio of tile adhesive to cement or worst if your builder is cheap Charlie… just straight on applying it on concrete. You won’t know it until a year or two after the build is finished hence be careful when you hire contractors and see to it that you have a licensed engineer who oversee or supervise the build some can just be too dodgy and make believe they know what they’re doing when they truly don’t.
I wonder why he said Bacong is difficult? Is it perhaps because he is banned from the LGU? Perhaps worth taking note on checking the builder’s credentials. What does he truly know about building homes?
With the laws in the Philippines there is absolutely no way I would build a house
Hi Gio, thanks for the vid.
But there is a big difference between theory and real life. At the beginning your friend mentioned "guess" - so take this for real is very dangerous. Also to demolish the house in case wife/girlsfriend become sour, will never ever happen. If she dont allow, you will not even make one step on her land. Also the municipal will not allow. All ok if you have a happy relationship, but if not, you will loose. You are foreigner in the Philippines - dont believe, you have the possibilities as in your home country. Another hint - better to buy than to build. You will only know after you paid what you got for your money. Ok it might match your expectations - but dont expect the standard of your hone country - this will never ever happen. Sorry to say all this, but this is the reality. Btw I love Philippines and I am happily married since 20 years with a filipina.
My wife and i built a home in Mindanao .nothing beats a house built to your own plans at one sixth the cost of in the states
@@kevinburns9717 yes nice to own a house, as long as you have it. Happy wife, happy life. This phrase become a total different meaning in the housing issue 😁
O,it's Tommy not Paco
Maybe just build little bit At a time
How do I get a hold of Tommy
I can refer you to another construction company since Tommy isn't taking on any new business.
How was he able to take a leave of absence from work for 6 months to go travel? In my work-handbook it says to take a leave of absence there needs to be some family event, like a birth of a child. How was he able to do it? If I could, I definitely would take it to travel.
I'd say everyone's handbook is different! I can take 90 days a year for anything I want....and I do, to vacation in the Philippines.
Depends on how good you are at your job, If you are one of the best at what you do, then your boss, or the guy down the road will be happy to have you back!
Maybe he's self employed? I'm self employed, I can take off as much as I want to
Would Tommy be interested in working with me on building a house in Leyte?
You can contact him
I did. Hope to see him in the next few weeks.
When are you going to learn you never bargain with the wife she wins everytime
Some of the out of step laws like Non Citizens not owning property is ridiculous...Here in USA Filipinos can buy land or anything if they have financial means and it doesn't hurt our country here...The old fashioned way the government and laws there hold Philippines back from progressing as a country...Hey Gio I thought your engaged and your flirting with waitress😂...There was a filipina taking care of my mom yrs ago in nursing home and she was paying off a newly built home in Philippines and now owns it...
So ok with you, if the Chinese moved in and buy land?
Should be, if Filipinos can buy land in the USA , then USA citizens should be able to buy land in the PH
If non citizens could own land, Chinese and everyone else would buy ALL of the good land and prices would triple and locals could not afford to buy any land.
Maybe the PH is afraid China will buy up most of the prime real estate. Gio is no longer engaged. See his previous livestream.
There are reasons for that. And one of those is that moneyed foreigners can gobble up property in the Philippines, driving up the price of land, and making it difficult for Filipinos to acquire their own land. That’s what happened to New Zealand when the Chinese started acquiring property there left and right. Now the Kiwis are complaining. We don’t want that to happen to the Philippines, which is a small country in terms of land area. Never mind that the US has a fairly humungous land area that they can probably absorb price shocks. Some may not agree with this comment though.
personally think it is a very good idea they limit that.. even though it can keep me from buying what I would like there.. locals would be priced out of the market almost immediately if there were not restrictions in place.
I plan to lease land from my Fiance to build a house, but heard it is illegal to lease from Wife when we get married...Is that True ???
If the spouses have property regime that is absolute community or conjugal, one spouse cannot sell and lease property to the other. If their property regime is complete separation of property, that’s possible. The spouses must choose what kind of property regime they will have in a pre-nupt. Otherwise, the default property regime is absolute community, which means “what is mine is ours, what is yours is ours.”
You can not enter a lease agreement with your spouse...
philippine-islandproperties.com/land-lease-for-foreigners-and-what-you-should-be-careful-of/#:~:text=Be%20very%20careful%20of%20who,lease%20agreement%20with%20a%20spouse.
I don't understand why people keep building houses there.
Some they have kids you don’t want your kids home 🏡 less when you dies.
I am real torn on rather to buy land in Toril which I like the area and it is close to Davao city or build on Ne's mom's land which she will give us in Bohol. Here she is working at her canteen and bringing in money, but her mom's land is free. It would work if we could rent a cheaper place for a fer months in Bohol/ Helpful vlog Gio. Thank U/