Rent Or Buy

[stevewool]

whats the answer, i think its best to rent at first , just to make sure you have found the right place ,but what happens if you have found the right place to live, do you still rent or buy, do you build your own place or buy a new build, is there a big differance in cost, one thing to me is if you build yourself you can extend it when ever you want to,another factor is if renting you can move on when you have had enough, buying you are stuck there, over the longer time period you may pay the same price say 20 years, but i am sure once i have gone my wife would move back to her family to be close so buying it would that be more of a problem later on in life

[Dave Hounddriver]

I would never ever buy here. Never. But I would give my wife money to buy a place if it was cheap enough and I could afford it and was very, very sure of my relationship with her. My reason is that a house here is not an investment, its an anchor. If you want to put down roots here and you are very sure of that then go for it. If you are looking at houses I can show you a few that have been on the market for the 5 years I have been here. That should give you some idea of the time line to sell if you ever change your mind.

[stevewool]

wow you have answered all that i was thinking but did not say it too, there is a small place near to where her sister lives a new bungalow, its not to much and is brand new too, i have had this thought would it be best to buy this let the family use it or try to rent it but its my wifes at the end of the day and will be hers to move to

[ironmaiden]

If you are sure of your relationship and your house is in a good location (houses in nice subdivisions here in Angeles do get sold for example) then renting is throwing away money. But of course, those are 2 big IF's...

[stevewool]

i am very sure of my relationship, but if something did happen, what my wife has given me in the few years we have been together well its all worth it, cant take it with you, i can understand buying near to the family in one way or we had children so it would become the family home for them but i dont want to be in that area so lots of debates , mind changing and just lets think about it later

[tiger31]

If you need cash in a hurry buying is not a good idea as it can take a long time to sell again .your best bet steve is to rent until you get a feel for the place you are in ,Like another poster said if you don,t like you can upsticks and move on to somewhere esle .If once you settle and choose to buy then building your own will be cheaper plus you will be in control of how the house is built and make changes as you go along .One good thing here there is not much planning permission needed like in the u.k .

[stevewool]

well there is a long time till i need to think hard, just keep saving here till the time comes,

[Americano]

Rent if you want to live the tropical dream and buy if you are a gambler and want to take a chance. In other words, if you buy land and build a nice home you could be putting a bounty on your head. This is a common problem in the Philippines. Upon your death your wife's family will own your home. Just remember you don't know everything that is said in secret or behind your back.

[Curley]

Having been a buyer all my life, I will only ever rent in the Phils unless I wish to give my wife/girlfriend a GIFT.

[JJReyes]

In my opinion, you should only rent in the Philippines to avoid all sorts of complications including ownership rights and tax issues. If you want to own or build a dreamhome then go ahead. This is an issue of lifestyle. It has nothing to do with the advantages or disadvantages regarding property rental or ownership.