Land and Construction: Why Rent, Can you and would you Buy
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- čas přidán 9. 02. 2024
- #houseforsale #expatlife
@FlyMeToThePhilippines
Join us as we offer an analysis of Renting versus Buying in the Philippines. Can you Purchase and what is the cost of Land and Construction in the Philippines.
Chrissy is buying land? She is thinking of building a house? She share the expected cost and what she paid for the land.
Rob shares a Facebook group question on the cost of land and construction costs - Expats offered revealing information on their actual costs of land and construction and some of their challenges in looking for a house to purchase, or a home to rent in the Philippines.
Rob shares two other CZcams bloggers who share construction advise on building a home in the Philippines - Two Tips....
Buying a home in Luzon, Visayas and Mindanao can be a real challenge, some only consider renting. Rob share his experiences owning a Real Estate Brokerage as to the advantages of Renting and Advantages of Buying. Then a discussion of the laws on Foreign land ownership and some work arounds. Chrissy tells about her land purchase and Expats share their land and construction costs. This episode is packed full of useful info.
Don't forget you can email Rob at flymetothephillipines@gmail.com to inquire about personalized dating, expat life, travel and general discussion about becoming an Expat in the Philippines.
PLEASE SUBSCRIBE: @flying_rider@flying_rider@flying_rider@FlyMeToThePhilippines - Jak na to + styl
Excited! This might be the most useful video I've ever seen on the Philippines. Watching now...
Happy to hear that!
Better title "Cost to Buy Filipina a Property Gift". For thinking men smarter to buy/own in the US, collect US rent and pay SE Asia rent. On one modest US house I've averaged $2000/mo appreciation for 15 years and net $1900/mo rent. $3900/mo US income vs $900/mo SE Asia rent.
Cost to buy in PH is very high compared to the US for what you get. For one thing you get actual ownership in the US. That's kind of nice. 1000's of move in ready homes on large lots available in the US for under $50k, many under $10k. All without burning trash 20' from your house or karaoke at all hours or a piggery next door or rooster noise or loose dogs. Quality of these
Thanks for watching Mr. water as usual. You have a very interesting and unique take on our videos. Thanks for sharing.
divorce is illegal tho so how can they just 'kick out the foreign husband'?. Best to find a woman you can really get to know and connect with rather than rushing to buy a home or get married. Can always do it alone before hand, then integrate and find a wife.
I follow Texas Philipino. I would suggest watching his channel. He is very meticulous about the construction of his property
pretty sure she only computed the cost of the materials. there's still additional fee for the building permit, fence permit, fire safety clearance and occupancy permit. all those will be needing an engineer you pay for their "signature"
but usually, if youre building in the province. you can just give a little bit in the barangay.
Thanks for watching and sharing that comment
This is by far the best edited video, (as well as the most interesting subject IMO), I've seen from your channel. Subscribed today.
Wow, thanks!
Thanks for sharing your invaluable knowledge both of you, you’re very natural so its easy watching.
Thanks so much Rick 🙏
Love watching your videos, always a wealth of useful information and you make it interesting, keep up the good work and I'll keep watching!
Thanks for watching and sharing Robert. We really appreciate hearing from you.
Great advice and really helpful information about all the scams there. Thank you.
Glad it was helpful!
Hi Rob and chrissy . That was just what I needed to hear and see .great addvice and somethings I had never herd about .thank you for a very very good video .. keep up the great work.. . Marty from Australia 🇦🇺 😊. Take care always 🙏
Thank you, Marty from Australia
For an expat like me, renting is a better deal. I have a place in BGC at $600 and Boracay at $400 for six month lease. The best thing about renting is I'm not stuck in one place and can move around anytime anyplace. Even if I decide to retire in the Philippines, renting is just perfect. and it's damn cheap.
Will I totally agree that’s my philosophy at this point
Great basic information . Thank you
Another vlogger I enjoyed watching during his house build is Greg and Wilma. Greg is a fantastic communicator such as yourself.
Thanks for the info!
Yes love Greg and Wilma. Very informative channel 😊
Excellent video
Thank you very much Daniel
Good video.
Thanks, Minnesota
Mactan Newtown should be on the list - as a subset of Cebu. 1 bed apartment - high rise - pool - weight room - security building - groceries - $450 - best deal I know of. Pool is the pool best in Cebu.
Chrissy and I have stayed there we felt the area was too small and the beach option of using the Savoy hotel, which is actually 5 to 10 minute walk away was a little limiting
Thank you fir your very good points you made ....all true sinarios
You are so welcome Bill
The reason Texas Filipino didn’t get a cement truck is because it would mean his workers wouldn’t have as much work and he cares about his workers. Finn has a beautiful home with a wonderful view. I’m not sure but I was thinking he may have sold his home which was worth a small fortune in Iceland to build his beautiful home. I know he’s making big money with his channel however I think he cashed in his chips from back home In which I may do the same. I have a beautiful home in Michigan which I plan to rent to my grandson to give him a break because he and his girlfriend just have a newborn.
Such a nice gesture wish you the best
Money = Opportunity Cost. I, personally, don't want to be tied to one country or location. Rent is dirt cheap in the Philippines. My SoCal rent is $3,100. Looking forward to seeing my rent drop.
Thanks JD
Oh my !!! Great information on the topic of buying property and building a home Rob. In my profession I’ve been a contractor for building car washes in the state I live in and if my clients needed a building to house their newly purchased equipment, I’d offer my services to build the building that would house the equipment and I’d sub out most of the work with quality workers. When building these locations for my clients, I stayed there to make sure my subs did their job according to the blueprints so that when my company installed the equipment everything went smoothly. My skills are many and I also do home repairs that consist of plumbing and electrical repairs and sometimes I’ll even repair appliances. Anyway, when I move to the Philippines I don’t think I’d be interested to build a home there. At my age I don’t want the hassle of someone telling me I have to move out of my home. Like you I believe renting will be less hassle and make my life easier to deal with. I realize I’m in the last third of life and there’s other things more important to me that I desire to experience and enjoy with life in the Philippines. Thank you for a well planned and very informative video about this topic. I always enjoy your videos and I wish you and Chrissy continued success with all the two of you do.
Hi Michael, thanks for taking the time to watch and share your story and comment we really enjoyed reading it
Filipino law limits the amount the owner can raise the rent per year. Addendum, for rents up to 10,000 per month. Over 10k it’s a negotiation game.
Interesting- any idea limit 2024?
@@FlyMeToThePhilippines I added to my comment, the limit only applies up to 10k per month which covers a vast amount of renters here, expats not so much.
My wife and I will purchase a lot and build a home in a very exclusive gated subdivision for under 150k.
You just need to choose a reputable builder.
Once the house is built, our expenses will be so low.
Watching you from North Phoenix.
Thanks for sharing
I was a little surprise you didn't have Aneles City on your list. I was stationed at Clark when I was in the AF 🤔
I’ve never been there, but I’ve heard good things just a little too close to Sin City
I'm looking to start construction on an 86 sq mtr home on Bohol for my wife. (married 16 years. not worried). With a budget of about 40,000PHP per sq. mtr. for a nicely done house. Good roof, double pane windows, some upscale niceties. Hoping that's reasonable.
John, thanks for watching our video and sharing. Good luck with your project.
A hard topic to explain and discuss, there are other ways to invest your investments. Also understanding contracts with an American mindset will hamper or confuse you, understanding the Filipino terminology is vital.
Good points Albert
So True , building anywhere is unpredictable , the service standards and building code quality can vary ,
Cool Sun Glasses Chrissy !
😎
Yes indeed
The rental prices are so low compaired to the build price. Renting a $400k (US) house for $700. Just doesnt make sense to build. That house should rent at $3000. But Im used to US...lol. Great Video as always and U know your stuff!
Hi Bill I agree. Thanks for the positive feedback also.
If I decide to build my first concerns are ingress and egress , next is there access to water, next is the title clean and clear? After that if I’m satisfied than yes I need to figure out what’s best for my interests as far as putting property in wife’s name or lease to own property so my wife can pay off the lease to own once I pass away.
Thanks for watching the video and taking the time to share
I build a house in Bohol, think its good and beautyfull but you have to be there every day during building to get it
Good advice
This is just one example of why these countries stay where they're, 3rd world, one has to be crazy to build under those land ownership arrangements, totally crazy!😂
Thanks for watching and taking the time to share a comment
A gamble at the very least
Yup,never buy anything!!!
What is an "Air B&B"? It sounds like Mexico where it's kind of like the "wild west" condition there with trying to own your own land and home.
It’s a condo or home listed on the website airbnb usually short term or medium term
Texas Filipino YES. Fin Snow hmm. From what I observe DEEP DEEP pockets.
Thanks for watching GJM
Finn Snow is just showing of
Rent to own much better. Would be great if you buy a land and build your own house. Construction expenses depends where you live by city or province.
Certainly something to think about
The cost seems to be sll guess work. I would think it will be considerably more money.
Thanks for sharing Tom
Why didn't you do the srrv visa?
If you’re not a veteran, you have to give $10,000 over and hope that you’ll get it back one day I will be married in September and I can do the balykbayan visa once a year at no cost
How did you and your lady meet?
Online - Filipino Cupid
Look at the background !
🤫
What about an Amazon tiny home. I've only heard of nightmares building in the US so I'm sure it's no easier over there. My child hood neighbor lost his wife to a contractor. He never finished the project left with his wife.
In America, my friends, wife ran off with a contractor
They have many various pre-fab and trailer type of homes available in PH. And that might be the best option for expats.
I didn't realize that you were a real estate broker. I'm a broker, small world! Where were you selling RE?
Scottsdale
Great Market! Can you sell RE or start a RE business in the Philippines? @@FlyMeToThePhilippines
With the amount of time these Foreigners live in the PI, WHY don’t they apply for Judicial naturalization?? These Foreigners would be able to legally own land. Filipinos apply for dual citizenship, why don’t Foreigners from outside the Philippines want citizenship?? Dual citizenship?? Is it because many retired Foreigners would be dead before the residency (10 yrs.) requirement is fulfilled? It is half (5 yrs.)the normal requirement if you are married to a Pinay. There are other requirements like your children need to be in the public school system (PI), and you need an income source in the PI.
I will be in the PI this month. Maybe I will talk to an Attorney.
Interesting subject some of those things I was not aware of
Gday you did not mention Iloilo in your top 10 cities in the Philippines
@@raymondcox3585 🤔
I have heard about the ways to get around the laws about foreigner's owning land. For me owning a house/land in the Phil's is dead last on my to do list. Now if I was in my 30's or 40's with small school age kids and a wife for the stability of the family I would buy a home. BUT as a retired guy even if I have a GF or wife I just don't see ANY upside. In my 60's it's a time of my life to be become "unincumbered" by the responsibilities of my youth. I've been there done that and owned 3 different home over the years. This is my time of FREEDOM and ADVENTURE. I would NOT recommend homeownership!
Daniel, thanks for watching our video and taking time to comment. I am of a like mind although leaving your Filipino with something after you’re gone is a motivator for a lot of men I like the idea of voting with my feet if the neighbors get noisy.
@@FlyMeToThePhilippines Is it hard to setup a saving fund at a Phil's bank? Throw in 3 or 4 million peso or whatever you think is appropriate for her to buy a house after you are gone. That way she's protected unless you really feel the need to stay in one spot the rest of your life in the Phil's. I would prefer to move around and don't want the burden of selling or renting out a house I own. But to each his own.
@@danielhackney7806 once you get an ACR card which occurs roughly 4 months into your renewing your visa you can open up a bank account although technically you’re supposed to have a 13 a visa, but many banks will allow you to open up a bank account. Certainly you could open up a bank account and her name.
I pay 260usd for a 2 bd rm,gated place,only 4 units in a nice farm area,nice views
Is that in the province?
Does Chrissy still teach?
I asked Chrissy to quit her job so she could spend my retirement years at home with me and traveling so no not any longer
Hi I had sent you a email a week ago and not heard back
I did not receive. Email flymetothephilippines @gmail.com. Did it bounce? Please try again
I do not understand its all about money here in US why do Phillipine contractors do crapy jobs building a home if being paid good money?
Hi Chris, Here its long hours, a lot of effort but often lacking proper tools and experience
Chrissy could raise roosters to help pay for that house! Just an idea. :)
Michael- keep that type of idea off the table 🥸
So weird weird that we cant just buy land soooo scetchy
Definitely a problem Rich
Dont push the workers, they earn 500 p a day
👍
Well if you want to PUSH the workers to get your house built quickly what you should do is offer to PAY more per day.
Can foreigners own land without being married to local 🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔
Regardless of being married foreigners cannot own land
Do you plan to build so your future wife will have a house once you pass? I am thinking in that direction myself….
@@-whackd Every day is a blessing
😂
Not sure we’ve talked about moving back west after seven or eight years but lately we’re thinking will stay
It's all about (how much) the money :) @@FlyMeToThePhilippines
If you buy land with your Filipina in her name, make sure you refinance that land simultaneously. Transfer the money to a bank outside of the PH. If she kicks you out, she can keep the house and the house payment if she can afford it. Also, never let her know where you have your assets. Just tell her you have a modest pension that ends when you pass away. And never buy life insurance.
Thanks for sharing
At that point do you even really have a relationship in the first place? Seems like you don’t trust your spouse and she clearly should not trust you based on what you are doing. Hiding assets from your wife and burying her in debt doesn’t seem like the basis of a great relationship.
@Landmantx
I'm guessing you probably don't believe in prenuptial agreements either. It's basically the same concept in a country where you have little to no legal rights when you are in a legal dispute with a native Filipino. I know of too many expats that have basically surrendered their life saving to a much younger Filipina. They know how to play the long game very well. So don't say I didn't worn you.
@@Landmantxwhen you hear of so many horror stories of man losing everything, his savings, his assets than having a prudent strategy to save his financial interest is not a bad thing.
Lots of interesting and useful information as always guys, keep those videos coming.
#1 It's not your country!
I have been watching retirement videos for years. Before getting too excited, have a discussion with an expat who purchased real estate in Ukraine or Ecuador.
Thanks for sharing
"3rd reason for divorce is remoldeling." I would've remoldeled for my American wife much sooner if I knew this!!😂
LOL
Why would you want a western diet when you could literally grow your own stuff?
Good point joe
Never buy nothing,big mistake,j just rent,very cheap,you will never break even,and start saving money,you will die first.
Who wants to live in a sardine can,condos suck
If you have to buy a house with your girl,you got the wrong girl!!
This guy is nuts,why buy a condo,way overpriced!!!!!
Which guy suggested buying a condo?
I follow several CZcamsrs building in the Philippines such as the Armstrong family, Greg and Wilma building the Philippines and FinnSnow. I think Chrissy is off quite a bit for building What a westerner would enjoy living in.
Yes, I agree. Chrissy’s estimates are not for the type of house or Western. I would be comfortable living in.