⌛ Should I Rent or Own a house in the Philippines?

It can be done.

It can be done. THe development of a peaceful resort area without the urbanized craze. But that would require concerted planning by the land owners, investors and local govt, with a LONG TERM view. But based on what i see here, you are never gona get that. Everyone for themselves. So you will see a random mix of buildings and establishments that will be eyesore. Just take a look at rizal blvd buildings. Do you see someone trying to instill some design element to the buildings that line the blvd? Nope. This does not really take money, just some govt will to make some sort of architectural guidelines in the permit granting process. For example, a subdivision management that requires lot owners to submit and get approval on house design prior to construction, so that the overall look of the subdivision stays within some guideline, say spanish colonial style. Many cities/towns have this, most notable success story being singapore.
Have you noticed how most of the houses have hollow block fences and they are plastered only on the inside, and the outer perimeters are left unfinished? What's the result? Looks pangit. And when all the houses in the neighborhood follows this example, the whole neighborhood looks pangit, thus leading to decreased property value for the entire neighborhood. Money doesnt seem to be the real reason because i have seen extravagant houses that do the same.
ANyway, things cannot change overnight, or over a decade, i guess.
By the way, some are able to get great lease program. Take a look at the following on sumilon. It sure surprised me!. ... Hope i can score one just like it!!
Sun.Star Cebu - Rama: Sumilon on my mind

 

I agree,can't even sort out the problematic /chaotic traffic for years on, the more it would be too complicated for them to think of any touch of prefered designs for the buildings along the boulevard.Speaking as filipino not expat .

 

Yes, on a similar vein...it's difficult to preserve heritage in this day and age...I used to work in the Gulf and in Jeddah there were many beautiful buildings built of coral blocks and wood...and many of those were torn down in the 70's to make way for 'progress'. By the mid 80's they realized what a tragic mistake they made and went full throttle on preserving what was left. A bit late but they did their best, and still a nice amount left to tour...I could post a couple pictures if anyone is interested...Silay is a good example of traditional architecture thankfully maintained on Negros...

 

Long term lease is the way I went...Found a nice quiet place that needed fixing up...P2500 per month when we found it...Worked out a deal with the owners for a 40 year lease...Dropped P25,000 in their pocket for security deposit and monthly payment of $100.00 per month (fixed) for 40 years...Wife and I have remodeled the place, added a room and carport (about P150,000 so far)...We are happy and they are happy....My recommendation for expat housing in RP...Cheers

 

Hello Pogi, welcome to the forum,

Thats really cheap, p2500 a month, you got a real bargain or $100 per month.

If prices escalate you'r on a winner

 

Thanks for the welcome....Where we are, the prices range quite a bit from P500 to Skys the Limit Stuff...We looked at several houses around the area before we settled on doing the lease thing...Waded through a few scam type offerings as well...Learned a lot in the process. The type of deal that we did is pretty easy to do "if" you are accepted by the locals...We moved into a place that was well "below" our means simply because we saw the potential. The private family owned compound is full of fantastic people, surrounded by well guarded single entry/exit subd's, lots of manoes for shade....Heck we even have a rice field across the street, yet SM is a 5 min drive away.

We lived in the place at P2500 for about a year getting to know everyone first before we made our long term offer.....The owner has a total of 5 rental units on the property (all filled with locals at this time), but as soon as someone moves out I will probably approach them about considering another expat to do as we did.....They like what we did, as it gives them a steady income in dollars for their retirement (double what they were making before), their property gets improved as well, to pass to their children...Even if the dollar goes 1-1 it really does not make any differance, as the peso is tied to the dollar and no one in their right mind would pay $2500 for this type of property..They would lower the price to the locals if this was the case.

These kind of deals can be found all over the Philippines, but; take your time to get to know the locals first before committing yourself so long term is my advice....Cheers

 

to buy or not to buy

hi ive been going to philippines for few years now, mainly stay in boracay with my filipino wife, we have rented every time we have stayed but prices have increased also the population on boracay must admit 3 years ago i was thinking of buying land on boracay but glad now i didnt, getting to overcrowded, saying that i still love it there. will be buying some land christmas maybe in dumaguete still deciding. but my future is definatly phils not uk

 

You have to visit and live in dumaguete for a little while to know if this is the place for you. When you buy a property it's for long term ,resale can sometimes take a lifetime.

 

hi pickled newt

yeah will be staying there at christmas maybe splitting land with kalbo who introduced me to phils. kalbo tells me your from southend i was living there by the pier last year heres pic of me and kalbo in boracay nice to put a face to a name lol

me lee pictures from southeast asia photos on webshots

 

Renting is the way to go, I'd say, and then research while renting. There are many apartments for rent, some cheap, others cheaper. and if you go for the one with a bidet in the restroom, there are some of those too! Ownership of props in the Philippines is a PROCESS TO STUDY WELL.