Buying Your Place

[stevewool]

Along with the topic of buying your place comes the idea of paying for it. Those of us on a fixed income wonder how the rest of you do it. Any tips, other than save all your life and pour it into a dream home.

thats why i,m keeping my house in u.k i,m using that house for income to live here or should i say buy here i,m using the money to buy a wee place not to flashy just in case i,m not happy so i wont lose to much money plus it takes a long time to find a buyer in some cases .This place is,nt like the u.k where if you buy a house then you decide you want to move sell up and buy another its far more difficut here .All I will say is if you sell up back home lock stock and barrel make sure you find the right place to put down as once you have dumped all your money here thats it lol .

would not sell the place here unless we know for sure our new lives is perfect, but we already have a person to rent our house in 6 years time, yes 6 years time, its my daughter who lives with us , she knows the plans and she has told us what is the price she would be willing to pay, also its family so i know the house will be looked after and we also have a lace to come back to show of our tans when we want a holiday,

[stevewool]

don't build or buy what you can't walk away from, can your wife our gf keep up a house in that amount if you are no longer around, think about it, giving someone something over their means is not helping, you may think so at the time, but this is the Philippines, unless you leave the funds to keep up the life style they lived with you, you have done more harm than good

this is another good point, do we rent where i would like to be and also my wife but buy a small house like Brian has said near her family so if anything does happen to me she has her own little house near to where she would like to be, i am not looking at a investment but security for my wife in her later years

[tiger31]

don't build or buy what you can't walk away from, can your wife our gf keep up a house in that amount if you are no longer around, think about it, giving someone something over their means is not helping, you may think so at the time, but this is the Philippines, unless you leave the funds to keep up the life style they lived with you, you have done more harm than good

this is another good point, do we rent where i would like to be and also my wife but buy a small house like Brian has said near her family so if anything does happen to me she has her own little house near to where she would like to be, i am not looking at a investment but security for my wife in her later years

my place only cost 700,000 i,ll put up pictures soon ok its just a small 2 bed semi detatched bungalow brand new .which would be a good idea for you steve so em has something if anything happens to you .so that leaves you to rent a place near pangalo until you find your ideal lot

[Thomas]

Yes, as others have said . Don't buy - yet :mocking:

I plan to rent first half year or so close to where I want a house, and then build/buy.

yes we are not going yet but it does not stop me planning and looking also, i was on this site yesterday just looking at lots , houses, cars all the stuff you do when you are bored and i came across this add, a lot and house for sale in panglao, looks nice the priced seemed ok too but on the outside wall there was a painted phils flag one side of the door and the other a flag from sweden too, just made me think are you on here who ever you are

I don't know if they have such flags, but I know a bit a Swede-Filipina couple, who are selling/sold a house at Panglao now. I believe they asked for 1 mill pesos. I don't believe any of them are in this forum.

Along with the topic of buying your place comes the idea of paying for it. Those of us on a fixed income wonder how the rest of you do it. Any tips, other than save all your life and pour it into a dream home.

If you can'/don't want to pay cash, I recomend you check loan possibilities in your NATIVE country or some other than in the Philippines, because most interests in Phili are insaine high :(

/The most COMMON interest is around 140 % recounted to per year.

/Comparingly cheap is Asialink, they ask around 4 % per MONTH, which I pay per YEAR* at my house loan in Sweden...

/There are some Phili banks offering around 8-12 percent as INTRODUCTION interest, BUT it's common they raise the interest much when the introduction period ends :(

( * In Sweden it's common with around 4 % per year with houses as security,

and I have a check credit loan WITHOUT security at 7,75 % + 1,2 % year cost on the full amount undepending of if I loan them or not.)

,the price i have in mind for the place would be 3 million peso,some may laugh at that amount saying cant be done

Sure it can be done.

E g the Swede-Filipina couple I believe asked only 1 mill to not need to wait long for selling

and as I have posted examples of in other topics, there are several nice/OK looking stone houses for sale for 1,5 - 2 mill pesos at Bohol.

One member just said he did build a house for under that budget. I know there are very nice places available for that but . . location location location.

Yes, IF buying (partly) as an INVESTMENT,

BUT if it's bought to live in for the rest of your life, then only your own liking is important :)

i struggle being safe

Yes, I think of that too.

Many say it's unsafe to live separate in a rural area,

BUT at least two of the killings of kanos during 2012 has been in GUARDED subdivisions,

and all the others I have heared of has been in urban places...

One Filipina from East Samar said they have no (violent) crimes in her province. Perhaps depending of the NPA guerilla is "police" there :hystery: (says a website dedicated to Samar.)

Anyway Philippine traffic is more dangerous :hystery:

[stevewool]

lots of wise words and very good imformation given, you mention the high intrest rate for the phils, that is why we are paying cash , my wifes sister is paying well over 4 million peso for there house that is costing just over 2 million,, we all now that buying your place in the phils will never be yours but what you say about buying for your liking is so true, we tend to forget this, so a view is the most important thing other then safety of course, and last but not lease the traffic is indeed more dangerous

[Dave Hounddriver]

i am not looking at a investment but security for my wife in her later years

I just had a talk with my wife about that. In the beginning she pushed very hard for a house and lot as it means security when she cannot really trust that the relationship will last. Now she is secure she says it would not be wise to have a house and lot as it it too hard to sell in Philippines and her plans, should I die prematurely, are to walk away from the house and go to Canada to work. (She has no interest whatsoever in maintaining the property, being here to collect rent if she rents it, or fooling around trying to sell it. She would walk away and it would not matter in the least what I went through to provide that for her.) In fact, a lot of filipinas who are widowed or have gone though break ups will sell their home very cheap. It is a good chance to get a deal when buying and an eye opener for those who think they are doing their wife a favor.

Edited December 31, 2012 by Dave Hounddriver

[stevewool]

you see the more you get involved with talking the more you realize there is lots of answers for your questions, i would have thought my wife would go back to her family once i am not here, but i have never asked her the question, all i know is that she would rather spend the money doing her dads place up into doors as she says for a income, is that a good idea, who knows but that is what she would prefer, its getting the right ballance for what you have available at the time,