Possible new construction

We have about 115 ft. on the ocean that we are not using with our new house build. My wife and I were wondering if it would be economical to build another house on it and rent it out or sell it directly.

Our property is about 20 km from Dumaguete and about 5km north of Zambo. Private gated, and paved road from main highway.

We plan on building a house, appx 1800 sq. ft. of very nice construction, walled around property, swimming pool.

Of course we don't know what the selling price would be, but what would be a logical charge for rental income?

If we decide on doing it, this house would be finished and ready for occupancy before we move over.

I appreciate all of your thoughts and comments.

2 blackbelts

 

If you don’t mind of a reduce space in your garden then that might be good idea to build a house in view of some rentals .The thing is if you sell it, you will permanently loose part space of your property to somebody else and hearing from other people's experiences having ‘neighbors from hell’ .I don’t like injecting negative thoughts in here but taking note of that aspect.Whilst if you rent it you’re still fully in control over your space and property,who you like and don’t like to live near you.

We had been offered some years ago by an expat friend who lives in Dumaguete to buy togther a piece of land (600 sq meters ) right next to the beach around Mangnao dumaguete for P1.2 M and we have to put our share of 600K pesos and get half of the land. But at that time we were both so fucosed looking for a very spacious with good views property where possibly we can retire and live in future.With such cramp space of 300 sq meters to live wasn’t attracting us at all that time.With high-rise fenced wall of a Chinese in the adjacent neighborhood ,didn’t add up to its attraction. But now we are regretting we didn’t take it ,because such price is reasonable for a beach property right in dumaguete city. Not where we want to live but as a business investment , building a small house and rent it or just sell it for bit of little profit . That didn’t cross our thoughts that time, d*mn its wasted opportunity.

Anyway, all the best to your plans.