To buy a condo or not to buy!

OK this has been on my mind since I was in the Phils in 2009. Unless we are married to a Filipina and even then a house and land as we all know has to be in her name and if she passes away what happens to you? This is not a position I want to find myself in!
Foreigners can buy a condo because they are buying a part of the building not the land and yes I know it's my decision do I look for a good area that has condos already built or do I buy in to a condo that's not developed yet? After all it will be at least 1 to 3 more years or so before the VA finally gives me all my disabilities that I should be getting. I think I would be more comfortable buying an already built unit. So with that where do I look at? I have lived in Cebu most of 2009 and I like the area, it is very busy I will say that. I am going to want an aircon that I can keep on to keep my complete home cool all the time. I will be bringing my little dog with me so I will need to be in an area that has a good Veterinarian that is licensed to take care of dog and I would like to find a ground floor because I love having a big aquarium. I have one here now and will have to get rid of it when I make my move back to the phils and a big tank is very heavy. I like the Duma area from all my research I have been doing. Being a Veteran I could find a condo on Luzon closer to the Embassy so I would not have to fly back and forth to see the Dr.
So any suggestions?

 

Philinvest corp. is currently building a condo complex on the water front at the north end of Dumaguete city. The VA reimburses your travel expenses when you go there. so it is just the hassle of flying and staying in hotel. Cebu has some really big complexes close to the water front with shopping and other amenities built into it. Good luck

 

Now in it's 4th or fifth year and Not a brick laid yet

 

Unless we are married to a Filipina and even then a house and land as we all know has to be in her name and if she passes away what happens to you? This is not a position I want to find myself in!

As a foreigner you cannot own land. However you can lease land (from a gf NOT your wife) for 25yrs, renewable for a further 25 yrs and you can own any house you build on the land. You would then need an 'Absolute Power of Attorney' and an 'Affidavit of Undertaking' giving you the right to sell the property and undertaking not to interfere in any way with the sale.
There are rules governing the ownership of condos and there are significant risks in buying 'off plan' (not just in the Philippines.
You should go talk to a good attorney - it would only cost about P 500 for a half hour chat.

 

Having had experience with most of the veterinarians in this town in my time here, they're pretty much 6 of 1 or half a dozen, not meaning that in a good way either. Medical facilities for animals are very limited, if an x-ray is needed one must go to a people type diagcare place, then queue with the general public. The range of medicines available is likewise minimal. Diagnostics, such as blood tests are also pretty basic, there is no cancer care at all, unless you class putting an animal to sleep as care.
I know a lot of dog owners here, who are as unhappy about the veterinary situation in Dumaguete as I am, having lost extremely loved and valuable animals for unknown reasons.

 

Couple notes. The condos across from Lantaw and Racer (good restaurants) have actually broken ground, at least for walls and a sales tent, just on the corner with a nifty model and i'm sure prices. Only problem is the tall bldgs (4 or 6 stories are on the back side of the lot, with a "mall" projected for the ground floor on Flores. Have to ask about schedule. Lot was totally vacant up to two months ago.

As per the avatar to the left (computer definition, not the Hindu one), we have a need for a good vet, found one in Dr JR at Animal Wellness on Hibbard near Blanco. True, limited equipment, but we don't need to haul the little one to Cebu office yet. Great for less than major problems, and we do not want to move to cebu.

 

You should compare rental rates with ownership cost. As far as single family homes goes, the selling prices always seems out of line with the rental price to me. It seems cheaper to rent than to buy. The biggest advantage in renting is when there are neighbor or neighborhood issues, you can pick up and move. Selling property in the Dumaguete area can take years, so they should not be considered an liquid asset. Do your research. Many new condos are not delivered on time (as can be noted by many foreigners, and they do not carry the type of warranties that you may be use to in the US.

A recent court case decided that long time lease could be consider as an ownership position. It was then determined that a foreigner could not hold an ownership position so the foreigner lost the land, and the house when he split with his wife. It is just a few weeks old, so you may want to check the impact on an purchase decisions. Just a heads up as I did not follow the issue too much.

 

Thanks everyone that's why I asked the forum to get your input because I have not been in the Phils since 2009. When I lived in Lapu Lapu Cebu in 2009 my landlord was an American married to a Filipina and they had been married 35 years. John was a WWII Vet and traveled to Manila to the VA and he got travel pay. Reading articles in this forum the VA has suspended travel pay. I am trying to decide what to do about my little dog. I wont get rid of him, I've had him since he was 7 weeks old, and some of the articles I have read about people bringing their dogs makes me think twice about bringing him because I would not want to have to put him down because of some illness he would get and no qualified Vet to treat him. Thanks for the heads up on the rent vs condo payment. That gives me some things to think about.

 

I think this is the court case to which D&I referred. It appears that the main problem was that the lease prevented the owner from selling the property, which the court construed as de facto control = ownership by the foreigner. The exceptionally long term of the lease (50 + 50 years) was also mentioned. I don't think this rules out all lease agreements, but I'd definitely recommend you make sure that the attorney who draws up any lease agreement is aware of this recent ruling and explains its implications to you.
Foreigners, beware!