House vs. Condo in the Philippines: What’s Better for Foreigners?
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- Опубликовано: 16 окт 2024
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Another great video! Thanks.
I stay in a condo where all expats stay in the Angeles area. Pool, fitness center, great security. I love this kind of living in the Philippines. It's almost like leaving the PI for a while when going home, except that there are lots of pretty visitors. Also. When it's time to travel, just lock the door. It's hassle free. Owning a house may be what some want, but, for me, it's overrated.
Do not buy a studio or 1 br condo in the Philippines! Hard to sell. There are 1000s of similar condos for sale nearby. But, if you have 2br or 3br, they keep their value, very rare and in high demand.
Not really lots of houses for sale in cavite. If you want a decent house ypu need like 15 million vs 5 million for condo
@@teekbooy4467 How is that related to what I said? I was talking about hard to resell condos and you talk about houses.
Hey mate, thanks for doing this video and you made some very good points! Completely agree with you about the potential issue of noise . also the difference in terms of community facilities security and the like. I have lived in condos to date - Avida Risla at IT Park, Club Ultima over by Fuente Circle, and a couple others. Interestingly, as per your video, I’m currently living in Banilad and I’m looking at a house in Talamban as well as some condos in Cebu city. The house I’m interested in is about 230 m² and the rental cost is the same as the condos that are around 35 m². It’s not in a gated community so doesn’t have the facilities, but also in a private little street that seems quiet from the couple times I’ve been there. Might have to try driving by in the evening!
For me, the space is the first and foremost consideration. I work from home and I have a couple of staff who spend multiple days a week working with me so having a house where I can have a dedicated office space as part of the setup would be very valuable .
I built a small house here in the province. For the land (1,625 square meters), the house, solar installation, a Toyota Hilux, and a Honda motor, I have about ₱5 million invested total.
That’s not too bad. My property taxes are only ₱2,000 and my only monthly expense is ₱6 to keep a tie to the electric grid. I paid ₱1,000 to pay that 13 years in advance, so really it is zero. I pay for groceries and stack cash. Not too bad.
Not too bad at all. Well done.
The tough thing is the condos tend to be studio - 2 bedrooms. Catered to single people, however if you have a family of 4 like us, finding a 3-4 bedroom condo is very tough.
Many houses and apartments here are in gated communities, so security is as good as in a condo. many neighborhoods have pools, gyms, and other amenities. One we looked at even had their own grocery store.
nope if you are foreigner in any country in the world if you plan to stay longer its still best to stay in condo or apartment to atleast 2-4 years if every you plan to stay permanent in that country cause the main problem is security and your barely know the country it takes time to readjust yourself to that country that is why stay in condo for 2 years that's its if your alone if you know somebody or a friend from that country and they have house then thats the only time you lived in the house cause no matter what happen you can go to your friends house for help cause they might also already build a connection in that country
I had a 950 sq ft house in California and left it when I divorced. I first experienced condo living when I moved to Bangkok. We had a 50 sq meter condo with an expansive view and I really liked it. You have to count the pool and gym as part of your space even if it is public space. The pool and gym were great places to meet people. They were never crowded in our condo building.
I’ve since built a house in the countryside (yes the land is in my wife’s name). Your wife may appreciate inheriting a house but she is really going to want a house in her home village. I’m not sure a house in a gated community will qualify.
I sometimes get asked if it is quieter in the countryside. Let me start by saying I had no problem sleeping in the midst of city noises. They countryside does have country noises which also don’t bother me. I often here expats in the Philippines complaining about karaoke, roosters and dogs. I never hear any of that here in Thailand. A cultural difference?
My X condo allowed dogs. The parking garage was their bathroom ( CR ). 😒
Key word.... "Allegedly"
Maybe ? Maybe NOT 😂
Good video and lots of useful info. My wife and I bought a studio style in San Fernando, Pampanga as a presell back around 2016 and moved in January of 2022.
Other than times when there are too many staycationers (too many waiting for elevators, pools too full, and many thoughtlessly families dripping water from the pools through the corridors to the places they rented) I absolutely love living that life style. If I want to travel a bit we just lock up and walk away knowing things will still be the same when we return, I'm fine with the limited space because we still bought everything we need for our convenience and comfort, brownouts are rare but when they do happen there's the emergency generator, and water pressure is always very good. On top of that if we decide to sell at some point we have money in our pockets that we wouldn't if we were renting.
You must understand Filipinos have no ethics, they have no morals, they yell like hell, they leave trash wherever they go, boisterous people, this si the reason I'm leaving the Philippines, it's obvious expat vloggers portray the Philippines as paradise, it's not it's a parasite.
I know 4 foreigners and 3 filipinos that lived in a house that got property robbed or they were robbed when they were outside. Non-Gated community. My gf aslo been robbed at knife point during christmas month she heard a knock thought it was carolers so she opened door o give tip and she got robbed. I have lived in condos almost 3 years never been robbed. I stay in condos :-).
@@Adventure5619 Where was this at?
Very good topic John. Seems you've got a smart idea in inv3sting in condos.
Thank you my friend.
I’ve always lived in a house even in the Philippines. Now I have a condo and it’s perfect. I travel a lot it’s so much easier than owning a house.
Most of the foreigners have to be crazy to pay millions of pesos for a house, might as well stay in your own country. I pay 8k a month for rent and happy. Don't need a guard if you keep to yourself they will leave you alone simple
If a foreigner wants a house in the Philippines, then ONLY(!) in a subdivision, for security reasons and peace (no roosters, dogs, commercial establishments, and other crazy stuff that happen in the barrios (barangays). If you are retired, choose a subdivision with nice amenities. If you leave for a long vacation, nothing to worry about the house being empty for a while.
No issues to buy a house in the Philippines by a foreigner who has kids, and want those kids to own the house eventually, even if they are not Filipino citizens. All you have to do is have a will, signed also by the spouse, that the kids will inherit the house. Then, when the time arrives, even the foreign kids can "own" the house, but they will have to sell it shortly after the will is executed.
Check it with a lawyer.
Thank you for sharing more on this.
Its true, being in the US we think roosters only caw in the morning...wrong! They will caw all night long, its crazy....lol
Definitely would like to rent a condo in Cebu when I get there. Eventually would like to buy a small lot for my Filipina wife though. Maybe with a house already as don't want to be involved with building a home (which can be done for a lot cheaper).
Good video, John...Jim
Are there condo's in the provinces ? Or in more remote places ? Or only in big cities ?
Great question. "Province area" is kind of a general term to mean "not city" but some province areas are still fairly populated and developed and have condos. Though that kind of depends how you define province area. For example, people in Manila seem to define "province" as anything outside of Manila and I find that a little ridiculous to think like that since there are cities like Cebu City and Davao City with over a million people that people still think of as province areas. These cities, and especially Cebu City out of those two, have many many condos. Most truly small province areas aren't likely to have condos.
Thank you for your nice answer.😊
Your welcome 😊
What is your opinion of Cebu IT park vs Cebu Business park. I was shocked at the price difference and condo size compared to BGC. Which do you think is better? I know they are looking at expanding both into an area BGC,
I think they are both great options. I would say the one main difference to consider is: Do you want to live near a nice mall and rely on it for groceries, restaurants, hanging out, etc? If yes, then choose Cebu Business Park and live in a condo across the street. Or do you want to live in an area with a mall that offers a lot less but has more areas to hang out outside, and more people out and about outside, and more places to walk and explore outside? Then go to Cebu IT Park. For me, I also have an office in Cebu IT Park so its convenient at this time to both live and work here, but I realize most people aren't coming here to work in an office. Both areas area owned by Ayala (and they own similar planned areas in many other places in the Philippines. Will it ever be like a BGC? I think its a different vibe, still nice, but they would have to do a lot of work to work on the streets and landscaping etc. But both are very nice and good places to consider.
@@WatchCaliforniaExpat when I come there my plan is to spend a couple of months in BGC while taking care of my SSRV permanent residence visa to get a good feel for the area then go down to cebu to check out those two areas. Cebu offers a lot more affordable accommodation and life experience then BGC that I have seen. Either way it’s not the cost of a place for me it’s the feel for the area of what I like more.
sounds like a good plan. I'm curious what prices you've seen for what size of places in BGC. I haven't looked for awhile but the prices for comparably nice places probably aren't too far off in prices. There's so much over supply in metro Manila sometimes its easier to find better deals than Cebu City
@@WatchCaliforniaExpat between BGC and Cebu cut BGC prices in half for comparable in Cebu
Not all Filipino own a land. We met a family and they don't even own a land. yes, house is not good sometimes. next to a barking dog, a guy burning tire, and loud music, and many kids that sooo loud. I rather live in a Condo. Thank you for sharing. so that people will understand.
I'm also from California and I understand that foriegners can't own land there but I saw a vid where a guy was talking about the prices of something that looked more like town houses to me, because each unit was two stories of a two story building and had a shared wall on each side. Maybe he wasn't well informed but he was giving the impression that foriegners could buy those, do you know if it's possible to buy something like that because maybe it's considered a condo?
Also have you made any vids talking about mortgages in the Philipines?
I'm wondering what it takes to qualify there, as well as the amount of down payment needed and the average interst rates. Thanks and keep up the good work!!!
Good to meet fellow Californian. Where are you from there if you don't mind me asking? With those type of townhouse units foreigners still couldn't own the land as you mentioned as well, but if someone else owned the land foreigners perhaps could buy the structure to live in. Though even with condos there is The Condominium Act of the Philippines, also known as Republic Act No. 4726, which says that even the condo units themselves (nothing to do with the land) have to be owned 60% by filipino citizens and a maximum 40% by foreigners. So if a condo building has 100 units, foreigners can own a maximum of 40 of them if filipinos have already purchased 60. I haven't made a video on mortgages here. I have one with my ex filipina wife from a condo we purchased together and still own together. But I'm not sure I ever would have qualified for a mortgage here without her. I'll look into it more.
@@WatchCaliforniaExpat Good to meet you too, the pleasuse all mine. I'm orginally from the SF bay aread but lived in many parts of northern Cali, such as Santa Rosa, forestville and Arcata, what area are you from? i've been liviing in eastern Europe since 2009 and planniing to come check out the Philipines in a few months. Wow, very useful and informative reply, thanks very much for all the information. I'll check out the video about mortgages, and look forward to more great content from you in the future, thanks again and keep up the good work!!!
@@amazonseller-yf8vv Thank you for sharing. I'm originally from the San Fernando Valley in SoCal and went to junior high and high school in Simi Valley, but lived a lot of places in northern California too including Nevada City, Grass Valley, Auburn, Elk Grove, Sacramento, Pleasanton, and San Francisco before moving to the Philippines. If you make it to Cebu City in the Philippines let me know and let's catch up.
@@WatchCaliforniaExpat Wow, you've certainaly been around the block and lived in many parts of Calii, glad you're out there enjoying the Philipines now. I'll plan to visit Cebu in Febuary so would be great to catch you then. I'll visit my relatives in Cali in mid January in and then head for the Philiipiines in Febuary. You make Cebu and IT park sound quite appealing so it's high on my list of places to visit. Thanks and keep up the good work!!!
do you know how hard it is to sell a condo here in the Phil's? for local and even foreigners (for whatever reason you have to sell it) unlike houses where you can sell them much faster
There is always an abundance of new condos on the market to compete with, so in most cases if you want to sell, it will take time and you might have to take a loss.
What do you mean hard to sell ? Just sell it 40% off like I did. 😂😪
house and lots appreciate in value unlike condos that depreciates
Yes, there are 1000s of nearby similar studios or 1br condos nearby to sell, so, it's hard to sell. But 2br and 3br condos are rare, keep their value and are in demand.
I am retired and owned a 73 sq meters 1BR loft condo in the heart of the city, it is a modern township by megaworld. There are pros and cons in condo living, but in my experience I like the set up, all conveniences are just downstairs or a short walk away. As far as security, it is a yes or no. Yes, if it is an exclusive luxurious condo. No, if rental units are allowed, the busy traffic from "short term rentals" might compromise your safety and security.
As far as building a house, build away from your relatives [their problems will be your problems] and preferably find a house in a exclusive subdivision so that your relatives has no easy access.
I thought about a condo, but I’m a country boy. I just need more nature around me than concrete.
@@Bawang-k5z , I was thinking the same thing, but as you get older the risk of stroke and heart attack are high, so I decided to live in the condo near a major hospital.
@@talongranger6991 Yeah. I’m 50 right now. Maybe in the future, because that has crossed my mind a time or two.
@@Bawang-k5z , sure. A stroke is a walking time bomb, it can happen at any time regardless of age... after 4 hours without medical intervention the brain tissue will die.
I'd also heard where it's very difficult for foreigners to get employment over there, or run a business, yet you do? I'm just curious, I'm retired, not interested in working any more...
Can you rent a condo and then turn around a rent that out - arbitrage style?
Yes absolutely, just needs to be in the lease that its ok. But if you want to do airbnb rental arbitrage as an example also make sure that the condo will allow it long-term and that there is also an agreement in the lease if possible that if the condo no longer allows airbnb rentals that the contract can end early.
I have appreciated all the amenities of living in a condo that were already mentioned. However having been a homeowner in the United States for decades, I do miss the ability to garden or just enjoy the open space of a yard. For me, I am content to just rent. That allows me to pick up and move to different places in the Philippines if I choose to
Many houses in the philippines have no yard. The lot is just big enough for the house and a parking space. As an old retired guy, this is fine with me. I don't want the hassle of taking care of a yard. When I had small children it served a purposr. If you want to.plant a garden or you enjoy sitting out in the yard, different story.
@@markjohansen6048 ... Planting a garden of flowers, fruit trees and vegetables would be my interest. Something to do in retirement that I enjoyed in my own younger days. But thanks for the tip
I hope to move one day there
Come and stay next time :)
If you grew up rural, roosters are not a big deal, dogs barking or karaoke is a different story, that can get to be a bit much. I heard if you put up the money for an SRRV, you can use those funds afterwards as a down payment on a condo - that sounds like the best of both worlds, get your SRRV and own real estate in PH that may appreciate in value while you are there. Thoughts on this? What do you know about this?
Goodluck with a place where no one does Karaoke in the Phil. 😂
If youre bothered with noise, I think youre not meant to stay here. Better live in Thailand or elsewhere. Bawal maarte.
I grew up in rural..so roosters are my friends.😂. I am kind of immune to noise, unless I am on a call or something 😂
I grew up in new York so gunshots in the night don't disturb me.
I have an srrv. I was told I could use the deposit toward a house or condo but I don't know the details.
How about that guy who became a citizen of the Philippines he's got a huge following I'm sure he can own land i assume but I know it wasn't easy for him to become a citizen
Oh kulas? took him a lot of years to get that citizenship, went thru the Congress and Senate to get that.
@kristinhannah001 yes I know good for him i just wonder if he had to relinquish his citizenship of origin
@@amigo2k10 nope. he's a dual citizen
Lease the land use a good lawyer that doesn't know the land owner I live in a modern Bungalow 2 Bed/2/CR ,Safe,quite close to beach/market's/mall's and other things you need, place has a Car Garage/Security Gates/Fenced and Apart from a few Clueless Neighbors it's been a Great Deal .. going on 7 years now and no complaints... my advice is don't trust the locals and keep it to just a smile or a wave hello, never get to friendly or trust easy.
I have never lived in a Condo. Only time I lived in a high rise appt. was NY city, in 1970 at 8 years old I did not like it. Today at 60, I would have no problem. If it was a nice place, that did not lose my mail and packages.......
I'm an American and I just blight a house. Technically its in my Filipina wife's name. So okay, if we broke up, I guess she could take the house. I font think that's likely and I'm not going to worry about it. I talked to a lawyer before we bought and she raid that if my wife were to die before me and has no will, I would get the house. Big caveat: she can not leave you the house in a will. She MUST die intestate. If you're not married, if you're just dating or living together, I wouldn't do it. She could kick you out at any time and congratulations, you just bought your ex-girlfriend a house.
My two cents:
-I'm retired; I don't need a condo near my office, I don't need an office at all.
-A condo seems risky due to the frequent earthquakes in the Philippines.
-Condos feel like closed, tiny boxes where you start to feel like you're in jail after a while.
-Condos are impersonal.
-You don't have any personal outdoor space. A condo have no garden, no fruit trees, no barbecue. Outdoor, is always out of home.
-When the elevators don't work, you’ll really dislike condos.
-A condo has no alley to park or wash your car.
-You share facilities (swimming pool, gym, etc.) with a lot of individuals.
-Having everything (well, only places to spend money questionably) available in the close neighborhood isn't healthy. You need to move around, it's the better Gym. Running on a treadmill? Pedaling in place? Ugh! Come on, just go run along the seafront!
-The risk is living within a square kilometer. Once you’ve been everywhere in a few days, what’s next? Oh boy!
Take into consideration in the Philippines is a rampant corrupt country where builders take shortcuts, they bribe the Inspectors, new buildings has cracks on the walls, paint peeling, youu go to be an Ignorant brain dead person to buy or build in the Philippines, your money not your property she owns it.
Also if there's a power outage some condos do not have back up generators and if you're inside an elevator good luck waitng for help, elevators are very small, probally 2 are working the rest are out of order, it took me 20 minutes to get into an elevator because Filipinos have no ethics once the doors open it's a mad dash to go inside the elevator, they don't even let the people to exist the elevator, been there, I'll never rent a condo again.
A tall building survives an earthquake much better than any brick house.
@@raananh-w2j As far as I know, there are no brick houses in the Philippines. Maybe a few rare survivors from the Spanish period? Where you're right is that everything comes down to materials and engineering. However, tall buildings mean more mass and greater resonance, which are always critical factors during earthquakes. According to studies on seismic engineering, taller structures with more mass are prone to higher resonant frequencies, increasing the risk of structural failure during seismic events. Less mass and lower resonance frequencies drastically decrease the risk, as observed in lightweight and flexible architectural designs.
@@axelSixtySix many houses in the Philippines are built very cheaply / low quality, using bricks/blocks and thin cement columns. A steal high rise is flexible, on a solid foundation and will sustain strong earthquake. The lower floors are very very strong, to hold the weight above, and the top floors are flexible. Have you ever seen a high-rise that collapsed during an earthquake? Yes, on the top floor, you are going to get a good shake. But many fallen items, no damage to the structure.
Wayy too expensive for some of those houses
Stay in Thailand everyone. We're full here in the PH.
Correct! The Philippines is already overpopulated. We don’t need more foreigners!
99.9% of the Philippines is Philippines citizens. Most foreigners already choose places like Thailand. Meanwhile, 4.1 million Filipinos live in my country of the US and they are very welcome to live there. Sad to see rude comments like this.
@@WatchCaliforniaExpat The Filipinos in the US has adapted well to the American lifestyle, hardly spoke about sh*tty stuff aboit the US, never badmouthed and misjudged your country and your culture on social media and regarded as one of the most hardworking people worldwide and has contributed a lot in the professional medical industry in your countryi! And oh, they pay TAXES too.. While the expats aka passport bros in the Philippine promote s*x tourism!!! BIG DIFFERENCE, SIR!
Big difference.
Now Im the rude one?
@@kristinhannah001 Filipinos in the US never said negative things about the US? How many of the 4 million Filipinos living in the US do you know personally to be able to speak on their behalf? It's really easy to find Filipinos complaining online like this www.reddit.com/r/AMA/comments/1d6ip81/i_hate_living_in_the_usa_been_here_for_10_years/ about life in the US. I'm not sure that you've ever lived in another country, or have you? In my experience 10 years living in Australia and now 5 years in the Philippines, it takes time to adjust to a different culture, even if like me you really love the people in the culture like I feel about the Philippines. Yes, Filipinos who are working in the US pay taxes, but unlike most immigrants they also send a lot of money back to the Philippines to support family members in the Philippines so people here in the Philippines are also benefitting from the US economy--right? Yes, you are right there are some bad expats here that are promoting and doing bad stuff--and there are also bad locals scamming foreigners too, so there's some bad going both ways. There are also expats like myself here that are employing about 100 Filipinos full-time and paying SSS, Philhealth, Pag-ibig, private healthcare, and of course taxes to the BIR. So its disappointing and a bit hurtful to read comments like yours. And yes, the comment was rude. It would be like if I said ALL Filipinos were scammers because I've experienced a minority that were. I know most Filipinos are good people and really my favorite people I've met in the world, so I'm careful about making generalizations like you have or rude comments towards all people of a particular background.
@@WatchCaliforniaExpat Tell me who talks and feed crap about the US to Filipinos? Is it our countrymen living in the US?? No! Its your fellow American who openly speaks about the toxic rat race culture, safety issues, people fighting one another bec of politics, the homelessness, drug use, lack of community and family values, etc. Its you versus other Americans!
Now you're tired of the sh*thole in the US, you chose come as a visitor to another country and talks crap about them as if you own it! In your channel, you praise the PH on one video, then talks sh*t again in the. next.. Where the respect, John??
Neither, as an expat i have no considerations in buying any property in a 3rd world poverty country, i only rent, I'm not a fool, you are not the owner of the property.
If your married to a Filipina and have a child together why wouldn’t you want to buy something for your family? They will be the owners
Foreigners can choose to stay in a condo or a house, but please don’t try to buy the land where the house is located. Only Filipinos can own land in our country.
Just curious. I have heard foreigners buying land in their kids names instead of wives. Can kids under 18 own land over there. My wife's Lolo has been asking me to buy his land in Siquijor. Not really interested. But maybe my kids could use it in 30 years😂. They are still under 5😂
@@bigbrother4ever Wise decision not to be interested in buying land in the Philippines. If somebody complains to the authorities that a foreigner has bought land, that piece of land will be subject to forfeiture. Your land will be tied up in litigation and court cases in the Philippines can take forever. In the meantime you cannot touch your land or profit from it. So, beware of people offering to sell their land to you.
@@LantangKaturay I generally wouldn't invest in the Philippines. I like to have control of my things. Just thought instead of a family land being sold to an outsider, I might as well buy it for my kids, just in case, if it's not too expensive. But I haven't given it too much consideration. I would have checked with a lawyer but yeah I like my life a little peaceful. I don't need too much land, matter of fact, as Tolstoy put it, I only need 6 feet from head to toe...in the end of the day. So no I won't be going through any sort of litigation for some dirt in a foreign land. 😆
@@bigbrother4ever Good! What you consider “dirt” to us is sacred soil and therefore not available to foreigners/outsiders/aliens.
@@LantangKaturay sorry for the word 'dirt' . I think it is generally used to mean any piece of land. Nothing to do with dirty. Dirt as in soil.