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Number 2 is very important and something many foreigners are unaware of...

Five Things to Consider Before Buying Beachfront Property
BY Lamudi 2 September 2014 Tips and advice

With over 7100 islands, the Philippines is not likely to run out of beachfront real state to offer to discerning property buyers. But unlike normal, landlocked properties, beachfront properties come with a few challenges. Buyers should take these considerations into account before in investing in a beachfront house, villa, or condo.

In real estate, beachfront location is king. The view that these properties offer, not to mention their proximity to water, affords them a premium coveted by similar but landlocked houses. So if you want a house that is really close to the powdery sand of Boracay, expect to pay more.

To give you an idea, an analysis performed by UK-based real estate consulting firm Knight Frank found that luxury homes built on the water—such as those found in Lake Como, Phuket, or Barbados—cost at least 63 percent more than comparable properties.

But price aside, there are other considerations that must be taken when buying a beachfront home. The economy, both national and local, plays a huge role whether the property will perform well in the vacation rental market. Since homes built on water also are exposed to the elements, the owner needs to shell out more for the upkeep, insurance, and repair.

With so much at stake, a buyer must take into considerations these. That’s why Lamudi has listed five considerations to think about before you invest in a beachfront property.

1. Natural Calamities
If your mortgage loan is for 20 years, shouldn’t your property last as long? This is perhaps the most pressing concern that a would-be property buyer has in mind. Unfortunately, beachfront homes are expected not to last as long as landlocked ones, since the former are exposed to typhoons, shifting shorelines, and other elements.

Research information on local and national building codes to make sure that your beachfront home can withstand winds from even the strongest of typhoons. For example, according to noted architect and urban planner Felino Palafox Jr., Philippine building codes stipulate that built structures must be designed to withstand 250-kph winds, but Typhoon Haiyan’s were over 300 kph; hence, it would wise to ensure that the beachfront property you are about to purchase must be able to withstand Haiyan-level wind gusts.

2. Know the Extent of Your Ownership
As diligent buyer should know that all beaches in the Philippines are owned by the state. Hence, if you are buying a beachfront house, you also must obtain a Foreshore Lease from the Philippine government, which will allow you, as a lessee, possession and control over the beach, from the high tide mark to the low tide mark. This Foreshore Lease, however, does not allow you to construct a permanent structure anywhere within 30 meters from the high tide mark.

3. Rental Market
Because you won’t be spending all 365 days a year in your beachfront property, you might as well rent it out to other holiday-makers, at least to offset the cost of mortgage and upkeep. Hence, buying a beachfront property in an area where tourists flock in all year round will be a good idea. Examples of these areas are Boracay, Calatagan, Nasugbu, and Cebu.

4. Is It Accessible?
The areas that you would be buying from should be served by good transport links as well. Are there good highways that will allow uninterrupted drive from the city to your beachfront home? In case you’re buying properties located in smaller islands, are there airports and/or seaports that will make them accessible to you and your renters? The place may have a gorgeous stretch of sand, but if it’s inaccessible, then you might as well forget about recouping your investment.

5. How Much for Maintenance?
Plenty of first-time buyers of beachfront homes do not realize that these properties require higher-than-usual maintenance costs. The salty air, for example, is particularly corrosive, so a beachfront house’s roof may need to be replaced every 15 years instead of the usual 20.

Depending on the area, there are also other costs that may surprise you. If you are buying in a rural area, then expect the place to lack adequate septic system, paved roads, and access to utilities. This means you have to shell out more if you require any of these.

It therefore makes more sense if you buy a beachfront home from an already-developed leisure project. And the Philippines being a tropical country there are plenty such project for you to choose from. You may have to pay more for the property itself, but at least you need not worry about, say, paving the road.

 

Education and discipline in Singapore as well as a strict government made Singapore, all a weakness in the Philippines.

 

There are enough western style restuarants that you can go out 7 evenings a week at a different restaurant and get good "western" style food. During you transition period from US living to the Philipines you can rely on the just recently added 7-11 in town. They may have those 7-11 hot dogs, as I saw a couple of their employee chasing some stray dogs around the streets. Actually seeing the glaring bright colors of 7-11 sign in the background of the historic Church tower tonight did not make me feel we were making progress here, but just becoming "modernized" which I do not consider to be progress in all cases.

Some Western style restaurants with Filipino dishes for your spouse: Coco Amigos on the boulevard, KRI accross from Silliman U, (great food with smaller portions for those days you are on a diet) ., KFC for fast food in the mall (with white rice or mashed potatoes freshly out of the box), Why Not (European, Western and Filipino) on the boulevard, Casa Blanca on the boulevard, Mike's Beach Resort in Dauin (great American Hamburger), Jerry's Beach side RestoBar (Great Pizza and other things) in San Miguel, and Takkries French Resto-Snack House at the 7 Km marker in Bacong (Run by a french man and his Filipina wife... great pasta...NO white rice). Oxmox in Valencia with a number of Western dishes. I am sure you will get other recommendations but that will get you through the first week... oh Yeah there is a new McDonald's in town too. Do not fear you will get your daily required "dosage" of western food here now.

 

I agree with Davy. I also live in Bacong because it is close to town, but far enough out where the air is fresher, less noise, and cheaper lots. Nothing like a U.S. suburb, to be sure, but the fresh daily fish and farmers market are other advantages. Not many pubs around except one can go to Bambulo or La Fiesta and one convenience store. Still, 10 min. to the mall or 10 min. to Dauin resorts help make it acceptable. I recommend it.

 

Remember "time" is worthless here. Consequently they do not get upset if they are delayed a little. Almost everything is taken patiently in stride, because there is nothing they can really achieve in the time they save to make their lives better. Nothing is loss for time delayed. "The cutting in line" and other issues that look like they are trying to save time are really more of "Filipino Pride." issues, not time saving efforts.

 

I enjoyed the article (thanks Davey) and thought it is fairly accurate. You can hear some negative talk at McDo and some positive comments at Sans Rival at the mall and probably vice versa. I agree with Dave, living in the outlying towns are less stressful and less to complain about.
One rather simple question to ask yourself, could you have what you have here if you were back where you came from? If you could, you probably shouldn't be here, if not, give your (probably youthful) partner a squeeze, have lunch and refreshments at a beach resort, and relax and enjoy this chapter in your life. Happy New Year friends.