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how much it cost to build a house

Discussion in '☋ Tourist Information ☋' started by thaliaeden, Aug 24, 2009.

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  1. Jack Peterson

    Jack Peterson DI Forum Luminary Highly Rated Poster SC Connoisseur Veteran Air Force

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    Dgte Branch.

    KDF! Will you have a Dgte branch, if so, can I have an account??
     
  2. andyfarquar

    andyfarquar DI Junior Member

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    As has been said, there are many ways to secure your investment. You are constitutionally entitled to a 25 year lease of the land, renewable for 25 years, so you could make this on one lease document, paid in advance and write the lease contract so that you are entitled to sublease, demolish & rebuild etc. You can build and own any house on leased land. Also you can have a 'Special Power of Attorney' giving you the right to do anything including dispose of the property on behalf of the named owner. This could be paired with an open dated deed of sale, signed by the title deed owner. Corporations are not secure, there is no precedent for owning any %age of any real property or business. In fact, it is constitutionally forbidden.
     
  3. andyfarquar

    andyfarquar DI Junior Member

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    As for cost, Alsons insist on a minimum cost of 22,500 pesos per square meter on their high end subdivisions in Davao City, so if you build a small 200 square meter floor space house, it will cost you in the region of P4.5m to build it on a contract basis. You can adjust down by maybe 10 or 15% for being in the province where labor is cheaper but don't forget, the materials are less easy to get and more expensive too.
     
  4. shadow

    shadow DI Forum Luminary

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    A power of attorney will give one the right to dispose of the property in the absence of the named owner, but the named owner will always have more rights than the one holding such power of attorney, which can be revoked by the owner at any time. Save for cases of mental incapacity, a power of attorney is useless when the deeded owner is present.

    An open dated deed of sale will not hold up under any circumstances. In order for a deed of sale to be a legal binding document it must be notarized. "On this day before me appeared..."

    People have been trying to circumvent land control laws since the enactment of the 1935 constitution. Those who think they have found a way are only fooling themselves (and maybe their wives) and are jeopardizing their assets.

    If one feels the MUST own something the safest bet is to lease for 25 years (extendable for another 25 years if both parties are in agreement) and build whatever you want on it. But one cannot lease from their spouse, and even the best air tight lease is not foolproof in this country. One must remember in a court of law here they are disadvantaged as a foreigner.

    Larry
     
  5. hawaiidiver2

    hawaiidiver2 DI Junior Member

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    ...don't invest money you can't afford to lose..........
     
  6. JoeMabini

    JoeMabini DI Member

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    Can you please expand on why a corporation is not secure? It is my understanding that a foreigner may own up to 40% of a corporation and the corporation may buy whatever "it" wants. If this is the case, then why is a corporation NOT a secure way of purchasing land? If you can cite any examples of a foreigner being forced to sell his or her shares in a corporation due to an annulment or death of spouse I would appreciate it.

    Thanks
     
  7. Knowdafish

    Knowdafish DI Forum Luminary

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    Possibly, but I think it is a bit premature. :D


    Hmmmm........

    My conglomeration of business ideas just keeps getting bigger! :D

    Now only if I could figure out what I did with those 10 cases of "free" toasters! :D
     
  8. shadow

    shadow DI Forum Luminary

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    A: If the corp is owned by a 60% majority, the 40% has no control over the land if the 60% votes otherwise.

    B: If the corp is set up for the purpose of owning/controlling land, then it will fall under the anti dummy law, and is subject to confiscation of all assets of the corp, plus fines, plus deportation of the foreigner.
    The anti dummy law is very specific. Google commonwealth act 108 and/or pd 715 Philippines.

    Larry
     
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