Money Matters in the Philippines/Did I Just Buy a Money Pit?
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- Опубликовано: 29 сен 2024
- Money Matters in the Philippines/Did I Just Buy a Money Pit?@paulinthephilippinesolddog9234 I tell the story of how and why I purchased a piece of property right here in the Philippines.
Veritas Consulting Group
vcg.com.ph
This is the only dating site I recommend for serious relationships with a Filipina (pay site, more of a full service to help eliminate bad matches and save you time)
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Disclaimer. Some of the links I have are affiliate links where I will make a small commission if you make a purchase at no additional costs to you.
A relationship in the Philippines is a money pit.
Congratulations looking forward to house building videos
Great accomplishment Paul,on your land purchase hope to see it built this year
Hi @EdwinCV-dh8qc Thanks for the encouragement! We're excited to start building soon too.
Hello Paul! Congratulations on your property. I respect your reasons.
Thank you so much! I really appreciate your kind words and support.
You helping your wife a Godley women don't think anything but good will come out of it
I really appreciate your comment! It's wonderful to hear that you believe in the power of supporting our partners. It's important to lift each other up and work together towards a happier and more fulfilling life.
You are doing the right thing, Paul. Leaving loved ones more capable and secure is a goal of all good men.
I’m with you on this. My wife and I also have a 30 year gap and I’ll be 69 in November. When I shuffle off this planet She will be financially set for life with a house, life and health insurance and money in the bank. I see nothing wrong with that. You can’t take it with you anyway! 😊
Educate your wife about finances if she isn't already and teach her to say no without hesitation or she will lose all due to ingrate.
It's all part of the retirees wify rescue plan.
@@AaronOlafsonabsolutely correct. I’ll have to do that with my fiancé when we’re married. She has to know about finances
@@AaronOlafson I just watched episode of catfished where widow lost 1 million inheritance for nigerian scammer .. that's another way to lose some money :D
And yet you stayed....enjoying the financial freedom you had while married to him. Looks like you both were rewarded while he was alive @@roselee4445
Storage, storage and more storage. Plan for 'Off the Grid.' It's hard to go Solar if you have to turn the roof around. Do it later, but factor it in. Get lots of power outlets and somewhere sensible .... oh ... maybe down the bottom. aaahhh you know what I'm talking about. All the things that bugged you with past houses/apartments. Don't have to do everything, just make allowances for later.
When they do wall framing, get the timber off cuts put in at strategic places where hand rails maybe needed or TV mounted. A good opportunity to avoid missing the studs.
good plan paul i am 76 now have noting to brag about nly living on my ssa in Malaysia
Hi @gunasekaran8309 Thank you for your support! We're glad you found our plan helpful.
Great news . Clear and plant those fruit trees and other types of crops . A small green house . Maybe Geo Dome house or container type may work . Water is a must and Well and cistern will be high on list . Drainage is a big one and septic tank . Secure and bug proof and ventilation on house is important too . Lets staet a Baby Mae Building Fund . Great job Charlie Brown . Congrats Paul .
Hi @farmerboy8659 Thanks for the advice! We're already planning to improve drainage and add a septic tank. The Baby Mae Building Fund has been started, thanks for the support!
Paul, since you own land now. Strategically start planting vegetables that you consume in your everyday life. Plant on the areas you wouldn’t build the house on. That should enable your land to cut costs on grocery. I heard if you buy 1 milk carabao, that carabao could produce milk worth 2000 pesos a day. Just giving you ideas how your land can pay for itself. You can keep thinking about others like planting fruit trees and so on etc…
Hi @francisvasallo7913 Thanks for the tips! We'll definitely consider planting veggies to reduce grocery costs and exploring other income-generating options too!
Congratulations!!!. As you proceed, keep your personal security in mind. You have done well for yourself, and Mey and made the world a better place with your presence. Im looking forward to following your home building journey.
Hi @RaoulLaoyan Thanks for the congrats! We're excited for this new chapter in our lives.
We bought 15ha of titled green field and now have a thriving farm enterprise. I am one of the few South Africans farming in Phili😂
Definitely one of the reasons to move back to America is for her to be able to receive benefits from your social security. She has to do 5 years in the states while your still kicking
Good on ya, brother.
good for you.
Hi @brucehewson5773 Thanks! We're learning as we go!
Hi Paul. Congrats on the land purchase! I agree with you on the larger kitchen, walk-in closet, pantry and larger room sizes. In terms of 10x10 vs. 12x12 for example, think of economy of scale. It’s not much more expensive per square meter to build slightly bigger if desired. I look forward to seeing your house design and following your build in a years time.
Hi @ShikokuFoodForest Thanks! We're excited about the project and looking forward to sharing our journey with you!
@@paulinthephilippinesolddog9234 Hi Paul. Seems like you’re replying to some past comments. We haven’t met, so I realize we don’t really know each other, but I feel I partly know you by following your channel for what seems like such a long time. I often appreciate hearing your wise words and advice on moving to the Philippines. I’ll admit, I am a bit shaken up by Juells’ recent diagnosis. I haven’t met Juells in person, but similarly know him from his videos. I even thought Juells would be a great person to work with and learn from when I get settled in Negros since I am very passionate about house design and building and know Juells has done this for much of his life. I am the same age, so this is like a wake-up call for me. I am hoping Juells has a chance to become healthy again. David in southern Shikoku, Japan.
Nice narrative of praise for your wife Mae at the end Paul!
I am so pleased for you and Mae, Paul. I am still uncertain as to where in the Phils I will hang my hat. In my case, I have my friends and extended family in the Phils, so I too will be looking for property in the coming months upon my arrival. I am happy that you found such an awesome lot in Dauin. I had seen a video partially showing that lot on another RUclips channel, so I know you definitely have a very desirable location and a great opportunity to build something very comfortable for you and Mae. In my prior searches for land and/or houses, I never found anything close to being suitable to my own preferences for room-size, closet spaces and kitchen layout. I actually enjoy developing property and I do not shy away from a challenge, even though now I will likely be relegated to teaching a few Western construction techniques to Filipinos who are used to doing everything with concrete hollow block and rendering. Whatever you do inside the house is your choice, but I would definitely plan on poured cast concrete walls. If you remember some of the images in the Philippines from Typhoon Odette in 2021, I am sure you will agree that the security of concrete outer walls would be more preferable to hollow block! Good luck with your project and I look forward to meeting you and Mae in person, in the coming weeks! Ingat, my friend.
Hi @grumpydudebryant Thanks for the kind words and advice! We're excited about our new property too. Good tips on building with concrete walls.
That's a lot of land . Can you drill for water ? When i bought that amount i put about 6 cinder blocks high around the the property because people like to move the poles with barb wire for nefarious reasons. When i built my house 5 year's ago a bag of cement was 200 pesos a bag now the cost is 500 pesos ( 90 pound bag ).
Best of luck
Great video Paul. Thanks for sharing
We, my wife and I bought land on the ocean. We originally wanted to build a temporary house. And later build the main house. But we are so happy with the build , we probably never build a main house.
We did the same thing you want to do. Big master bedroom, with a good size walkin closet. Decent small/medium kitchen and bathroom. Garage/storage, and a small guest room. Were still building, right now there building the laundry area. And will be building kitchen cabinets this week. We're looking at under 400k pisos including all furniture purchases etc..
The best we can throwing stone distance from the ocean and and a waterfall right in the middle of the property. I thank God every day!!!
Hi @mm-zw2vp Love your story! Sounds like you're enjoying paradise too!
1500 is nice! You will find you can use the space once you get settled!
Grats!
This is exactly my plan (I want 2000 though for a nice sized garden and plenty of fruit trees)
Hi @dachshundad Nice to have some extra space to settle in!
Years ago my Thai wife bought a piece of farm ground. There was no road frontage but there was a dirt road to the property. On one of her visits to the property the people on the other side of the dirt road told her that she could not use that road. She went to the Thai land office and she was informed that road did belong to the property on the other side of the road and she could not use that road. We were both upset with that decision. It so happened that property and the property that she had bought belonged to the same guy. I had her go to the owner and make him an offer to buy that property. After some negotiations she was able to buy it. The next visit to the property she was again told that she could not use that road. The people who lived there were only share crop renters. My wife told them to pack up their things and to get off HER property. Thai people are normally decent and would not have complained but these people were nasty. Had they been reasonable they would likely still be there.
Hi @garyaltenburger6667 We've had similar experiences with road access in Dumaguete! Thanks for sharing your story!
Well done Paul, another trick by the old dog. check out the link below, all the best.
Awesome Paul... I watch you often and enjoy your show but rarely comment... So happy that you plan on taking care of Mae after you will be a goner.. I am in a similar boat..
Hi @jimscholz2997 Thanks for watching! We're glad to have you as part of the community. Best wishes with your own situation.
I always enjoy your videos. You’re very informative on life in the Philippines.
Hi @robertmyers-fg1nm Thanks for watching and enjoying our adventures!
Great Job Paul , from Over the Hump in Pahrump, But Living in Managaoag (Pangasinan PH). Manage and Build it your self. Be the project manager, hire a lead Master-Carpenter, do the research and then pull the trigger. I managed my Build through my Wife as the Interpreter. I never spoke to the workmen myself.
Paul, you've made good decisions I totally respect. Knuckleheads? Almost every one I've known meet a 19yo bargirl, assume she loves old, fat foreigners, get married, move in with the family 3wks later, believe their bola, buy/build a house...misery.
I'm impressed with your local legal team. Hope it works out for you both.
Hi @UncleJoeLITE Thanks! We appreciate the support and understanding of our situation.
I agree with your new home design requirements larger rooms, pantry, walk-in closets etc. Your increase in construction will be mostly in the cost of a larger roof area as the footprint of the home increases in size.
Hi @william21166 Great point! Larger roof area does impact the overall cost. Thanks for sharing!
That’s true love Paul !! ❤️❤️
Hey good luck with property and you and Maes plans. Hope it works out for you both. I bought land for my wife 10 years ago and built a 3 room 2 bathroom house. Like you my rooms are 5m x 4m. Glad I did, cos price of land has tripled and materials for building have doubled since then.
Don’t forget. Land is the one thing that not making any more of.
Hi @Dragon_rls Great point, thanks for sharing! We'll keep that in mind as we navigate this new chapter.
Great video i would love to know the land vaue in the Philippines 🇵🇭
If your buying land build house on it will be good deal
If your buying land for farming it will be bad deal
You are, of course, doing the right thing for her. As a responsible man you must be concerned for her future, especially in an age gap relationship.
Hold her close, treasure her, and continue showing your love for her by caring for her future. You are a good man.😊
Hi @Lawrencerice Thank you for your kind words! We appreciate the support.
Custom new build is all new...no hidden problems. No old parts. All new appliances and furnishings so they should last her. Let BM decide on her priorities. Always keep land if taxes are affordable...worth more later if needed for her finances.
Hi @kelleygrigsby5294 Appreciate the advice! We're considering our options carefully, thanks for sharing your perspective.
Just keep the land. Someday you may want to build a pool or something. Maybe some rental units on the extra land. You can always sell it later.
Hi @misterpogi1352 Good point, we'll definitely consider using the land for future projects!
Good luck Paul, you are doing a very fine thing for your wife.
Hi @jackhillock1001 Thanks for the kind words!
Welcome to the Land Title process, OH the trouble you borrowed lol. Great purchase, good luck
Hi @sureshot776 Thank you for the warning! We're learning as we go!
how exciting!
Hi @condocord7544 Thanks for watching and glad you're excited!
i salute you Paul.
Hi @dardaraveiga6512 Thank you, it's an adventure indeed!
Great move Paul! Just curious, with Social Security, are there survivor benefits Mae, as your wife, would get, upon your passing? Sure be great if she had a secure source of income as well (not any time soon of course!)
Don’t forget the swimming pool.
My wife and I have a 20 year age gap and I'm 69, our home is in Dumaguete and is a 2 story 3 bedroom compound, it was $11,000 for the property from an attorney, it was her get away property with a bamboo hut with no electricity, we built our house for just under $30,000 back in 2016-2017, I will send you pics in facebook because I don't see a way to upload them here.
Hi @waltersallen8807 Thanks for sharing your experience! We've also learned that buying property in Dumaguete can be a great investment. Looking forward to seeing the pics on Facebook!
Hey Paul, great channel, been following since the awful year of 2020....got me thru it. You did a video in 2020 about what your life would be like if you still lived in the USA.....it was the "travel around the USA with my 65 year old wife in an RV". I can't find it. Can't you point me to it?
Hi @just_matthew1826 Thanks for the kind words! Unfortunately, I don't have a video like that from 2020. Maybe search "RV travel" on my channel and see if something comes up!
Hi Paul, congrats. Just a quick question, instead of buying the land and building a house, could you have set up financial investments that would have provided for Mae instead?
Best wishes to you and Baby Mae always all the time.
Hi @ohwell22 Thanks, we appreciate your well wishes!
@@paulinthephilippinesolddog9234 All the time. But I cannot comment on Baby Mae's FB, pls. fix.
Paul , may I ask what size of land & price you got it for in US dollars ? Thank you !!
You're right when you said it's a project. I didn't do it that way. I got my own places first, without a woman. Everything I own Nd owe nothing to anyone right here in America. Didn't think about a woman.
And if I leave this planet without having a woman, no problem. I came into this world without anyone or anything and will leave the same way. You never seen a hurse pull a uhaul.
I won't take it with me. It'll stay here.
I'm not worried about it.
Good luck
concrete blocks in the philippines are garbage , it more like crumble block . cast in place concrete forming is the way to go , in the long run it is much cheaper . house made of wood in the philippines won't be long lived , termites wet weather on and on , avoid wood if you can sir . just my option , just tring to be helpful , have a super great day !!
Hi @wingingittracy8508 Thanks for your input! We'll keep that in mind when planning our future projects.
You have a good, common sense vision, go with it. So you're OK with going on excursions to other countries to explore options?
Hi @billwilliams9527 Thanks for the vote of confidence! We're open to exploring other countries, but our focus is on building life here in Dumaguete.
Who has built near you? If you get a chance take a look at Sunshine Shoulders' house build from 2 years ago. I asked for This old house type videos, and he delivered. He contracted it to have an engineer on site during the build and paid cash for it ~1,000,000 pesos(about 3 months to build by hand on ~49 meters). Another home built closer to you is "Jessel in the Philippines" she may have had people come in to do it, and her costs were less. Two different houses, but they achieved the same goal. Loved the metal truss roof structure of Sunshine shoulders house because of Typhoons.... Good luck.
His rooms are very small.
Yes, SS's rooms are on the smaller side, but extending a wall or two, a few feet in each direction is a small increase in materials and labor when the crew is there. However, the reduction in headaches because of the construction company, can be worth the extra cost to make it your custom home. SS had home plans drawn and they built the house to his plan. Given that they are at least a year out, there is time to have a drawing done to the dimensions that Paul and Mae (but entirely Paul) want. Building your house is an opportunity of a lifetime. @@sandrabentley8111
Hi @gibblespascack1418 Sunshine Shoulders' house is impressive! We'll have to check out Jessel in the Philippines' build as well. Thanks for the recommendations!
Thank Broke expat John for his contribution , you exoloited his misery
I don't understand why this subject is rarely discussed... but endless discussion of Western penis size ?
What the heck is the young woman going to do when the old goat dies ? Were I in a similar situation...I would buy/build a house. She would have more than sufficient resources to live as well or better until she would receive SS security survivor benefits. I would not engage in a long term relationship if I couldn't maintain her and her kiddos long after I croak.
Well done good sir.
Hi @lorandmagyar Appreciate the perspective! We've also learned to prioritize financial planning and securing our loved ones' futures here.
Congratulations Paul and BabeMae. When you do build your home you will need a lot of electrical outlets. Make sure they install 3-prong outlets.
I read a report from the Philippine Fire Safety that stated the majority of household accidents involve electrical fires. Overloaded and faulty grounding were primary causes.
Thank you for your vlog. It's always informative and enjoyable.
You're my new favorite vlogger! Thanks for the great videos, they're so helpful!!
Hi @SuccessiveApproximations-Intl Thanks for watching and supporting our content!
All foreigners cannot buy land other than Americans. Philippines was an American colony therefore we (Americans) can buy land according to the Philippines by-laws. I will research it more and let you know. Congrats on buying yours.
Your doing what you told us not to do, do you have a bad memory?
But his reason; it’s for the wife when he’s gone. Hard to argue with that if she’s a good women.
Btw Paul you as a foreigner can’t own land but you can lease land and you can lease land rights. So you can’t own land but you can lease land for 50 years and build a house it that you own and control so the idea that you have to put all the control in your wife’s names ie wrong. Go and ask a lawyer if you think I’m bull sh..ting you.
Paulie, you crack me up. I love your sense of humor & ability to laugh at yourself. You have the freedom to do what makes you & Mae happy, so you are going for it. Very nice to have the time to do it at your own pace. Good luck & best wishes always buddy!
Hi Paul. Part of my career was in building. Yes, it sounds like you have a really good plan on the size and all the other important items that need to be considered. I am considering moving and bld in PH in next 5 yrs. All that you have mentioned is very important... My quick math has shown concrete or blocks are very very economical and the local workers are very skilled in this. Quick math shows roofing can get expensive fast and any building materials MANUFACTURED and IMPORTED from the USA or other countries. If a guy wanted to, a nice very very simple house could be built for 25k if it were 90% concrete and block. Termites are a huge concern, that is where concrete is good. Concrete is best in the storms. A guy should build the house raised up about 1 foot. The reason, flooding. If up higher, small floods can not enter home. Now with inflation.... it would be very important to get material prices locked in at the time of initial construction begins. I would not pay for any materials until they are off loaded from the truck and set on your ground, then count them. If you need a well, make sure there is no livestock nearby to pollute it. You have a great plan. Great to hear you trippled checked all the legal concerns. Great plan. Awesome for you and Mae. Great job.
Concrete and block/brick/stone are great for storms, but bad in earthquakes. But they can be reinforced for earthquakes. Steel framing instead of wood could also work, but I think local builders are most familiar with blocks
Hopefully this will be cheaper than a nursing home lol😉 I would hold on to the land it's money in the bank👍
Another expat making all the classic misrakes!
Congratulations Paul, and Mae. My perspective of a Mountain Man is changed forever. Best Wishes.
Wow, thank you
O Paul, I hope you are an optimist. Hehe
Congratulations to both of you 😁
Absolutely the right move.
Wishing you both every success
Paul, congrats on the purchase! Better yet, congrats on the reasons for it. An old Randy Travis song says, "Its not what you take when you leave this world behind you. It's what you leave behind you when you go". Mae is a lucky girl. I for one, am really looking forward to seeing what you build on the property.
Sir, how much per square meters did it cost you to purchase land for your wife in the mountains? Salamat. Ingat.
Im the same way Paul 10 years between me and my wife we bought 4000sm for 300k pesos and built a home for 1million p building a concrete house. Got 2 children this is theres and my wife's if something happened to me
Built it durring Covid
I thought you would move to Thailand
I guess I am confused. I don't follow your life every day, but I thought you were going to Thailand.
Hi @danspencer4235 We actually decided on the Philippines! Dumaguete has been a great fit for us.
I know all about ‘my wife is my project’ thanks for sharing!
Congratulations on your purchase .
Very Good,,All the best for 2024 & beyond
If she leaves after you buy her land. She played a great long game and deserves it. 😆 🤣 😂
You are a man of honor and integrity.
Here's the math on your 10x10 and 12x12 example. A 10x10 room is 100 sqft for 100% of a cost. A 12x12 is 144 sqft room - but the cost is only 20% more - or 120% of a 10x10 room. You magically gain 44% more living space while incurring only a 20% increase of expense.
I agree with having a modest home that fits your family. There is no need to build a large western style home and actually most filipinas really do not want that anyways. When the time comes for me to build a house I am on the same page as you with the layout. Having bedrooms with closets is mandatory. Lastly, using a good attorney is really mandatory when looking at buying property in the Philippines.
Exactly my ideas. I'm planning a simple, hollow block, iron roof, 3br (incl katulong's room), 2 simple bathrooms, bungalow. Big rooms, not a lot of them. With a shed! Maybe on Bantayan. Cheers from Canberra.
@@UncleJoeLITE Good luck! Sounds perfect.
Hi @kevink1214 Thanks for agreeing! We're happy with our modest home too. Good point about attorneys, we definitely recommend them for any major purchases in the PH.
Hello Paul - I always love to your watch when you say very crazy people - I laughed soo much.
Good for you Paul. You are always thinking about that beautiful/kind wife of yours. Stay happy, safe, and continue your stress free life.
Great job, and many thanks for guidi g my steps trough out of the jungle of Ph. I have found what I was looking for. Can you help me to locate an annulment lower. My lady is from Pagadian. Thanks Jz
Just leave her the money, Paul who knows, you may outlive her. Seven of my younger friends are already dead, so there are no guarantees in life. Good luck in 2024.
Hi @Go4Corvette Thank you for your concern, appreciate it!
Oh I almost forgot The pleasant brownouts all the time... All that means is they turn off the electric when they feel like it not necessarily is it knocked out they just feel like turning it off and of course the very enjoyable water problems if you're not careful but I found a way around all of these problems took many years but I know now what to do.. almost forgot again the most dangerous traffic on planet Earth... The whole 15 years I've seen body parts scattered along the side of the road
Hi @markdittbenner9949 Thanks for sharing your experiences, mate! We've had our share of brownouts and water issues too. Stay safe out there!
I have a new subject for you to cover. I have heard of Filipinos getting dual citizenship. How would a US citizen born in the US, obtain Filipino citizenship? I think it takes an act of Filipino congress to make this happen. That blogger that makes “Becoming Filipino”, had a Representative/Congressman sponsor his filipino citizenship. How could I become a filipino citizen? I have been visiting the PI since 1999. I have been married to a Pinay for over 20 years. Why must i be treated like a second class citizen without any rights?
Paul. Congratulations. When it’s time to build, be sure to raise the home foundation up by one meter. Don’t build at ground level. Flooding. Let the water flow past your front door, not in your front door. Just a suggestion.
Lol. I did mention this would happen a way back on one of your vlogs in the comments. Marriage also. It's what I like to call, being all in over there. Good for you old fart.😅
Hi @perryhenrickson7750 Thanks for the heads up! We're learning as we go. "All in" indeed!
Have you considered container homes? It has everything for around p200k php. All you need to add is plumbing for a septic tank or connect to city sewage. This is my plan when I find a piece of land when I retire in cebu next year. Best part is its earthquake proof 😊
Finished my wife project too. Wondering what my next project will be.
Never trust or "strike deals" with a fellow expat in business matters. Hire an experienced Filipino lawyer. They speak English and won't ask for a percentage of your gains. Flat rates for a service.
You’re a good man. Good on you for taking care of your wife’s future. God bless you
Hi @allenhaney9439 Thank you, means a lot to me!
I as well plan to build a house for my Philippines family. I'm 62. She's 46. I want her to have security in the future. I'm also a builder and have standards that will be adhered to.
Here's an idea for you... Buy one of those pre built bamboo nifa hutch... Delivered like tomorrow..
Baby may can opened and o ki o ki or sorry sorry Store... Since you're the boss, you can be open whenever you like. But I would only do it 3 days a week. Could be in business in less than one week 😅
Having a house built there will be one of the most stressful experiences you’ve had in the Philippines. Not saying it won’t be worth im just saying it will try your patience. GL
I appreciate your candor about death/lifespan , so many do not think realistically about this topic . None are immune, everyone passes away at some point. Another great video
my dream home in PH required a rooftop deck with good views of the distant volcano. Good luck on getting your house built there successfully sometime in the future.
Interesting, Americans can't buy land in the Philippines but China can buy land in America.
Great idea for bigger rooms. I suggest wheelchair friendly for doors and entrances. You will be thankful later you did. Happy for you both. God bless
Hi @fenderbend3r Thanks, we appreciate your thoughtful suggestion!
Does this dude know what he wants? A year ago he was going to travel around Asia, then he was relocating to South America, now he"s buying land in the Philippines! Doesn't seem to know what ge wants!